Sterling faces sharp sell-off as investors brace for Rachel Reeves’s spring statement and £15bn in spending cuts. Analysts warn of underpriced volatility and fragile market sentiment.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
BYD pulls ahead of Tesla as it surpasses $100bn in EV revenues
Chinese electric vehicle giant BYD has overtaken Tesla in global EV revenues, reporting over $100bn in annual sales. As BYD ramps up in Europe, Tesla faces political backlash and growing competition.
Millions of DNA records at stake as 23andMe files for bankruptcy and CEO quits to bid for business
Genetic testing firm 23andMe has filed for bankruptcy, with its CEO stepping down to bid for the business. A major data breach and collapsing revenues have left the future of 15 million users’ DNA data uncertain.
Trump’s steel tariffs put £2.7bn of UK exports at risk as British manufacturers brace for impact
Donald Trump’s renewed steel tariffs could affect over £2.7bn of UK exports to the US, including high-value sectors like aerospace, agriculture and luxury manufacturing.
UK life sciences losing £15bn a year to global rivals
The UK’s life sciences sector is missing out on £15bn annually due to declining global competitiveness, falling exports and clinical trials, according to a new report by SCI and LEK Consulting.
Inheritance tax reform could threaten 200,000 jobs in family businesses and farms, survey warns
New inheritance tax caps on business and agricultural relief could lead to 200,000 job losses and a £14bn hit to the UK economy, warns Family Business UK and CBI Economics.
Consumer confidence edges up in March but recovery remains elusive
UK consumer confidence rose slightly in March, according to GfK, but remains well below average as households grapple with high interest rates and ongoing economic uncertainty.
Rachel Reeves to cut £1.5bn in civil service savings to balance public finances
Chancellor Rachel Reeves will announce £1.5bn in civil service cuts as part of wider plans to reduce Whitehall spending and restore fiscal headroom. Key frontline services to be protected.
UK on track for nationwide full-fibre broadband rollout by 2027, says Ofcom
Ofcom says the UK is on track to deliver full-fibre broadband to 96% of premises by 2027. The regulator’s latest review focuses on stable regulation, competition, and long-term investment.
BBC and rival broadcasters fined £4.2m for colluding on freelance pay
The BBC, ITV, BT and IMG have been fined a combined £4.2 million after admitting to colluding on pay rates for freelance sports broadcasting staff, following a major investigation by the Competition and Markets Authority (CMA).
Wetherspoon shares slide as soaring labour and energy costs hit profits
JD Wetherspoon shares drop 10% after first-half profits fall short of forecasts due to rising labour and energy costs. Despite strong sales growth, the pub chain faces £60m in extra costs from April.
UK borrowing overshoots forecasts by £20bn as pressure mounts ahead of spring statement
UK public borrowing has overshot forecasts by £20.4bn, reaching £132.2bn with one month left in the tax year. With the Spring Statement approaching, pressure mounts on the Chancellor to tighten spending and avoid breaching fiscal rules.
Inheritance tax receipts surge to £7 billion in just ten months, says HMRC
HMRC inheritance tax receipts hit £7bn in just ten months, with record revenues expected by year-end.
Britain’s high streets saw 35 shop closures a day in 2024
UK high streets saw 35 shop closures a day in 2024, but PwC data shows signs of recovery as new store openings increase.
Eddie Jordan: The charismatic entrepreneur who shook up Formula One looses cancer battle at 76
Eddie Jordan, the bold and charismatic Formula One team owner, has died aged 76. A true motorsport maverick, he launched Michael Schumacher’s career, led Jordan Grand Prix to F1 victories, and remained a colourful figure in the sport.
