The RAC calls for the end of the 5p fuel duty cut, claiming it costs the Treasury £2 billion annually while drivers see little benefit due to high retailer profit margins.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Rocco Forte plans five new hotels as Saudis invest £1.4bn in luxury chain
Saudi Arabia’s Public Investment Fund acquires a significant stake in Rocco Forte Hotels, fuelling expansion plans across Europe.
Keir Starmer aims to reset Brexit relations with German economic deal
Keir Starmer seeks preferential access to German markets in a bid to revitalise UK-EU ties and boost British business opportunities.
Klarna slashes 1,000 jobs as AI reshapes business ahead of IPO
Klarna’s headcount drops as AI transforms operations, with further cuts expected as the fintech giant eyes a stock market listing.
HMRC probes nearly 800 major UK firms over suspected tax underpayments with UK banks suspected of underpaying £7.9bn
HMRC is scrutinising 791 of the UK’s largest companies across key sectors, including banking, telecoms, and retail, over suspected tax underpayments totalling billions.
Rising wage costs dampen small business confidence, FSB survey reveals
Small business confidence in the UK falls into negative territory as rising wage costs take their toll. The FSB warns of potential job losses and calls for government action to support small firms.
Retail prices fall for the first time in nearly three years amid heavy discounting
British retail prices drop for the first time in almost three years, driven by significant discounts on summer stock. Food price inflation also eases, providing some relief to consumers.
Major corporations return to CBI as lobby group rebuilds after misconduct scandal
Major companies like AstraZeneca and Unilever rejoin the CBI after its misconduct scandal, though Tesco and John Lewis remain distant. The CBI is rebuilding with renewed corporate support.
Unite urges 1% wealth tax on the super-rich to fund public sector pay rises and NHS recruitment
Unite calls for a 1% wealth tax on the super-rich to finance 10% pay rises for public sector workers and address NHS vacancies, testing Labour’s stance at the upcoming TUC conference.
Starmer sets stage for difficult decisions as Labour confronts ‘Tory wreckage’
Keir Starmer warns of tough times ahead, as Labour tackles the deep economic and social damage left by the Conservatives, requiring difficult choices for long-term recovery.
British steel to cut 2,500 jobs despite £600m taxpayer-funded green initiative
British Steel plans to close Scunthorpe blast furnaces, risking 2,500 jobs despite £600m taxpayer support. The company’s shift to imported steel raises concerns over the future of UK steel production.
Mike Ashley appoints youngest daughter as director to expanding family empire
Mike Ashley appoints his youngest daughter, Matilda, as a director of Mash Holdings, deepening family ties within his sprawling retail empire. The move follows her exit from Double Take, raising governance questions in the City.
Gatwick sees 7.7% passenger increase as short-haul demand surges
Gatwick Airport has reported a significant uptick in passenger numbers, with 19.9 million travellers passing through its terminals in the first half of 2024, marking a 7.7% increase compared to the same period last year.
Household confidence in UK economy wanes after six months of growth
UK consumer confidence dips for the first time in six months, driven by concerns about the economy’s future. However, optimism about personal finances improves, according to GfK’s latest survey.
Business leaders warn Starmer that Labour’s proposed union empowerment reforms could harm investment and economic growth
Business leaders are urging Sir Keir Starmer to reconsider plans for a significant expansion of union powers, warning that the move could hamper economic growth and deter investment in the UK.
