Elon Musk and Prime Minister Keir Starmer clash over claims of a ‘civil war’ in Britain following unrest in Southport. Starmer condemns Musk’s comments on immigration and social media misinformation.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
HMRC reports £4.1 billion loss due to R&D tax fraud
HMRC reports a £4.1 billion loss due to R&D tax fraud since 2020. The issue fuels a financial clash between the current and previous UK governments.
‘Free money’: £4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme
A government scheme intended to boost innovation has lost over £4bn to fraud and error since 2020. HMRC vows to tighten scrutiny and recover lost funds amidst widespread abuse of R&D tax credits.
Huw Edwards faces potential loss of Baftas as universities rescind honours
The British Academy of Film and Television Arts (Bafta) is reconsidering the awards previously granted to Huw Edwards following his guilty plea to charges of viewing child sexual abuse images.
Morrisons tests raising freezer temperatures to cut energy costs and emissions
Morrisons is trialling an innovative approach to save energy and reduce costs by raising the temperature of its freezers by 3°C.
Harland & Wolff bailout sparks concerns over future of Royal Navy warships
The future of the historic Harland & Wolff shipyard is in jeopardy following a $25 million emergency bailout, raising fears that Royal Navy vessels could soon be constructed abroad.
Intel to cut 15,000 jobs in bid to catch up in AI chip race
Intel plans to cut 15,000 jobs to reduce costs and catch up in the AI chip race. The company’s shares dropped 20% after announcing lower-than-expected revenue and suspending its dividend.
Guild Esports, backed by David Beckham, faces financial crisis after burning through £26.6M
Guild Esports, supported by David Beckham, faces financial turmoil with shares plummeting and only £25,000 left in the bank. Explore the challenges and potential strategic shifts for the struggling esports group.
Bank of England cuts interest rates to 5% in first reduction since 2020
The Bank of England has cut interest rates to 5% for the first time in over four years, offering relief to homeowners and families amid high living costs.
Prince’s Trust warns of ‘digital skills crisis’ as over third of young people lack confidence in securing tech jobs
New Prince’s Trust research reveals 37% of young people in the UK worry about lacking digital skills for good jobs. The report highlights barriers to digital training and calls for urgent action.
Government scheme boosts UK chip start-ups with £10 million funding injection
The UK government’s ChipStart programme has enabled semiconductor start-ups to raise over £10 million, supporting innovations in AI and healthcare technologies, and driving economic growth.
Wealthy individuals stockpile tax-free gold and silver coins ahead of Labour’s proposed tax hike
Wealthy savers have been increasingly purchasing gold and silver coins, spurred by concerns over a potential capital gains tax increase by the incoming Labour government.
Bank of England poised for first rate cut since 2020
The Bank of England is on the cusp of reducing interest rates for the first time in more than four years, bringing them down from a 16-year high of 5.25 per cent.
Carpetright’s collapse leaves creditors facing £213m loss
Carpetright’s collapse leaves creditors, including Royal Mail and Microsoft, facing a £213m loss. Find out how the administration impacts customers, suppliers, and the future of the UK’s largest flooring chain on Business Matters.
Bank of England losses cost Government £45bn as interest rates rise
The UK government covers nearly £45bn in Bank of England losses due to rising interest rates and bond sales. Calls for monetary policy reforms grow as fiscal pressures mount.
