Sainsbury’s reported a 5% increase in food sales, bolstered by market share growth, yet struggled with a 5% decline at Argos due to challenging market conditions. Learn more about its performance and outlook.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Bank of England cuts rates to 4.75% as inflation cools and economic pressures ease
The Bank of England has reduced interest rates to 4.75% amid easing inflation and wage growth, providing potential relief for UK businesses and consumers facing economic pressures.
Loose Women’s Kaye Adams prevails in ten-year battle with HMRC over IR35 tax dispute
Loose Women’s Kaye Adams has won her decade-long battle with HMRC over a disputed £124,000 tax bill, with the tax authority deciding not to appeal. Read more on her fight for self-employment rights.
M&S warns of possible price hikes as national insurance hike impacts costs
Marks & Spencer faces £120m in extra costs due to national insurance changes and wage increases, raising concerns over potential price rises despite efforts to mitigate expenses.
Reeves reassures on trade as Trump tariffs threaten UK-US economic ties
Chancellor Rachel Reeves downplays concerns over potential tariffs under Trump, stressing Britain’s commitment to “free and open trade” with the US and highlighting the importance of their £311bn trading partnership.
Used car sales climb as consumers shy away from new vehicles
September, with record electric vehicle purchases, as cost-conscious consumers avoid the new vehicle market. Discover the trends driving this shift.
Asda cuts jobs and mandates office attendance amid turnaround efforts
Asda orders head office staff to return three days a week and announces job cuts as part of a strategy to reverse declining sales. Learn more about the supermarket’s restructuring.
Treasury accused of hiding £9.5bn ‘black hole’ in budget, says OBR chief
The UK Treasury may have broken the law by failing to disclose £9.5bn in budget pressures, claims the Office for Budget Responsibility, sparking questions over transparency.
Pound tumbles, stocks surge as Trump heads back to the White House
The pound drops 1.4% against the dollar, while FTSE 100 stocks surge as Donald Trump declares victory in the US election. Discover how markets are reacting to Trump’s return.
Wetherspoons warns of pint price rise as budget adds £60m in costs
JD Wetherspoon faces £60m in extra costs due to National Insurance and wage hikes from the latest Budget, potentially driving up pint prices across its 800 UK pubs.
Trump hails ‘magnificent victory’ as projected winner of 2024 US election
Donald Trump is set to return to the White House after winning a close election against Kamala Harris, securing 265 of the needed 270 electoral votes. Read the latest on Trump’s projected return to power.
Asos optimistic about turnaround despite £380m loss
ASOS optimistic about turnaround despite £380m loss, as inventory cuts and focus on full-price sales drive recovery
Electric car prices slashed as manufacturers push to meet zero-emission targets
Heavy discounting boosts electric car sales in the UK as manufacturers aim to meet government zero-emission targets and avoid fines. Discover the impact of price cuts on the market.
Jobless rate set to rise’ as experts warn of National Insurance hike impact
The National Institute of Economic and Social Research warns that rising employers’ national insurance contributions will increase unemployment and slow job creation. Explore the projected impacts of the latest budget on UK employment.
James Dyson condemns ‘spiteful’ inheritance tax in budget, warns of impact on family businesses
Sir James Dyson criticises Rachel Reeves’ inheritance tax changes, warning they could “kill off” family businesses and stifle entrepreneurship. Learn more about the policy’s potential impact.
