Revolut, the fintech giant, secures a UK banking licence after three years, enabling it to offer loans and overdrafts and boosting consumer protections for its 9 million UK customers.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Heathrow passenger numbers hit record 39.8 million amid busiest summer preparations
Heathrow Airport has reported a record-breaking 39.8 million passengers in the first half of this year, surpassing pre-pandemic levels and signalling a strong recovery.
UK car production declines as manufacturers pivot to electric models
UK car production falls by 7.6% in early 2024 as manufacturers shift to electric vehicles. Despite a decline in overall and EV production, electric models now constitute over a third of total output.
Rachel Reeves poised for £25bn tax rise, says former Bank of England ratesetter
Rachel Reeves, the Chancellor of the Exchequer, may use an upcoming review of public finances to introduce up to £25 billion in tax increases, according to Michael Saunders, a former member of the Bank of England’s monetary policy committee and current adviser to Oxford Economics.
Shoplifting reaches record high as thieves operate without fear
Shoplifting in England and Wales has soared to its highest level since records began, with criminals seemingly operating “without fear of apprehension.”
Ed Miliband launches state-backed offshore wind initiative
Ed Miliband, the energy security and net-zero secretary, is set to announce an ambitious plan for state-owned Great British Energy (GBE) to partner with the Crown Estate in a drive to significantly expand the UK’s offshore wind capacity.
Huw Edwards jumps to third-highest BBC earner despite scandal
Huw Edwards emerged as the BBC’s highest-paid journalist last year, earning £480,000 despite being suspended for nine months. The annual report reveals that Edwards received a £40,000 pay rise, making him the corporation’s third-highest earner.
Carpetright’s future secured but at least 1,000 jobs lost in limited rescue deal
Carpetright’s future has been partially secured as Tapi acquires 54 stores, resulting in over 1,000 job losses. The deal saves 308 jobs and ensures the continuation of the brand.
UK pioneers space refuelling with £2m investment in Orbit Fab’s innovative technologies
The UK Space Agency has awarded Orbit Fab a £1.3 million grant for developing innovative satellite refuelling technology, promoting sustainable space operations and expanding the UK’s space capabilities.
Hammerson divests £1.5bn stake in Bicester Village and other European outlets
Hammerson has sold its 40% stake in Value Retail, owner of Bicester Village and other European outlets, to LVMH and L Catterton for £1.5 billion, shifting focus to core assets and enhancing financial stability.
Nadhim Zahawi plans £600 million bid for Telegraph titles
Former Chancellor Nadhim Zahawi Seeks to Acquire Telegraph Media Group
Rachel Reeves embarks on New York mission to attract UK investment
Chancellor Rachel Reeves will meet top Wall Street firms in New York to secure billions for UK green energy, infrastructure, and housing projects, aiming to boost investment and job creation.
Farnborough Airshow explodes with £39.3bn in deals on opening day
Farnborough International Airshow kicked off with a bang today, with an astounding £39.3bn (USD 51bn) worth of deals announced on its opening day.
Reeves hints at inflation-busting pay rise for public workers amid £8 billion fiscal challenge
Rachel Reeves hints at significant pay increases for public workers, potentially leading to an £8 billion fiscal gap before the autumn budget. Learn more about the economic implications and government plans.
Business and Trade secretary unveils £103M investment for greener air travel at Farnborough Airshow
The UK government announces £103 million in funding for green aerospace projects, supporting sustainable aviation and high-wage jobs across the UK.
