Category: News

The UK economy is likely to see no growth in the aftermath of the Chancellor’s Budget, the Bank of England has warned, as businesses respond to record tax measures by increasing prices and reducing staffing levels.

Sir Keir Starmer is set to appoint Lord Mandelson as the UK’s next ambassador to the United States, marking the first political appointment to the role in nearly half a century.

The FCA extends the motor finance complaints process to include car leasing and grants lenders until December 2025 to handle a surge in claims, following a court ruling on undisclosed commissions.

British car production fell by nearly a third in November, hitting its weakest level since 1980. With factories in transition and waning domestic demand, the industry urges government action as EV targets loom.

Shoe Zone blames the recent budget for soaring costs as it plans to close unviable stores. The footwear retailer warns of lowered profits and consumer confidence in the wake of policy changes.

Japan’s Honda and Nissan are reportedly in talks to merge under a single holding company. The deal, potentially involving Mitsubishi, aims to bolster competitiveness against booming Chinese EV makers and global industry consolidation.

Spanish state-owned shipbuilder Navantia is poised to rescue Harland & Wolff in a £70 million deal. The move is expected to secure over 1,000 UK jobs and stabilise one of Britain’s most historic shipyards.

Barclays loses a key court challenge over car finance mis-selling, paving the way for billions in compensation claims and intensifying scrutiny across the industry.

Smaller UK exporters suffer disproportionately from post-Brexit trade barriers, contributing to a £27bn fall in goods sales to the EU. Larger firms adapt more easily, while Labour hints at a “reset” in EU relations.

UK inflation hit 2.6% in November, exceeding expectations and intensifying pressure on the Bank of England to keep interest rates steady. Rising fuel costs and robust wage growth complicate the chancellor’s fiscal plans.

Billionaire Guy Hands’ Annington sells 36,000 military homes to the UK’s Ministry of Defence for £6bn, ending a long legal battle and bringing housing back into public ownership.

UK chancellor Rachel Reeves may be forced into emergency tax hikes by spring if the economy worsens. As businesses shed jobs and growth stalls, experts warn the government’s fiscal targets could trigger urgent measures.

UK private sector hiring has fallen at its fastest rate since the global financial crisis (excluding pandemic disruptions), compounding fears that the economy may be edging closer to recession.