Amazon faces a £2.7 billion collective lawsuit from over 200,000 UK third-party sellers, alleging anticompetitive practices that favour the tech giant’s own retail and logistics services.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Labour Could Cut Taxes by £16bn, Say Economists
Economists suggest Labour could cut taxes by £16bn if it wins the General Election, with increased fiscal headroom due to revised forecasts by the Office for Budget Responsibility (OBR).
Labour to Close VAT Loophole on Private School Fees
Labour plans to introduce anti-forestalling legislation to prevent parents from pre-paying private school fees to avoid upcoming VAT, potentially raising £1.7 billion for state education.
BP Halts Offshore Wind Projects to Refocus on Fossil Fuels
BP halts new offshore wind projects and freezes hiring in its renewable division as the new CEO shifts focus back to fossil fuels amid investor discontent and market pressures.
Deliveroo Avoids DoorDash Takeover but Faces Continued Interest
DoorDash’s failed bid to acquire Deliveroo sparks speculation of more takeover attempts, highlighting the attractiveness of London-listed firms to US investors.
VW to Invest Up to $5bn in Tesla Rival Rivian
Volkswagen announces a $5 billion investment in Rivian, creating a joint venture to share technology and intensify competition in the electric vehicle market.
Microsoft Faces Major Antitrust Fine Over Teams Integration with Office 365
Microsoft is facing significant antitrust fines from the European Commission for allegedly bundling its Teams app with Office 365, disadvantaging competitors like Slack and Alfaview.
Stellantis Warns of Potential UK Factory Closures Over Electric-Car Subsidies
Stellantis threatens to halt production at its UK van factories in Luton and Ellesmere Port unless the government provides incentives for electric vehicles and reduces zero-emission targets.
HSBC Joins UK Banks in Cutting Mortgage Rates
HSBC has announced reductions in its mortgage rates, joining Barclays and NatWest in a move that comes on the heels of hints from the Bank of England about a potential summer base rate cut.
SHEIN’s London Flotation: A ‘Badge of Shame’ for the Stock Exchange, Says Amnesty International
Amnesty International condemns SHEIN’s potential London Stock Exchange listing, citing poor labour practices and human rights violations in the fashion giant’s supply chain.
Tax Hikes Likely in the Next Five Years, Warns IFS
The Institute for Fiscal Studies warns that tax increases are likely over the next five years, as major UK parties avoid tough financial decisions in their manifestos.
Major Record Labels Launch Landmark AI Copyright Lawsuit
Sony, Universal, and Warner Records sue AI start-ups Suno and Udio for alleged copyright violations, demanding $150,000 per infringed work in a landmark case.
Chapel Down on the Market Amid Soaring Demand for English Wine
Chapel Down, Britain’s largest winemaker, seeks to raise £30 million for expansion, considering a potential sale amidst booming English wine demand.
Evri Accelerates Sustainability with £19m Investment in E-Cargo Bikes
Evri, the prominent parcel delivery company, is set to significantly enhance its sustainability initiatives by embracing “pedal power.”
Conservatives Promise Pub and Club Revival in First 100 Days
The Conservative Party pledges a review of licensing and planning laws within the first 100 days of a new government, aiming to rejuvenate the struggling hospitality sector by reducing red tape and supporting night-time economy businesses.
