Rachel Reeves, Labour’s shadow chancellor, pledges to lead the most pro-growth Treasury if elected, focusing on economic stability and business partnerships.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
NatWest Tells Customers to Visit Branches as Outage Hits Online Banking
NatWest apologises for an outage affecting its app and online banking services, urging customers to use telephone banking or visit branches.
British Businesses Face £42bn Debt Crisis Post Ultra-Low Rates Era
High interest rates are set to cost British businesses an extra £41.7bn by 2030, raising inflation and risking company collapses, warns consultancy Baringa.
Airbus to Hire 400 British Engineers Amid Boeing’s Struggles
Airbus plans to hire 400 engineers at its Welsh wing-making plant to boost A320neo production, leveraging Boeing’s 737 Max crisis to gain market advantage.
MPs Declare Rail Subsidies ‘Unsustainable’ Amidst Stalled Reforms
MPs warn that rail subsidies remain unsustainable, urging immediate reforms as the establishment of Great British Railways is delayed.
Shop Price Inflation Falls to Lowest Level Since November 2021
Shop price inflation falls to 0.6% in May, the lowest since November 2021, according to British Retail Consortium and NielsenIQ, signalling stabilisation in food prices.
Elon Musk’s AI Start-Up xAI Raises $6bn in Funding
Elon Musk’s AI start-up, xAI, secures $6 billion in funding to accelerate the development of future technologies, challenging OpenAI and Google with its new AI model, Grok.
Labour wins endorsement from 120 business leaders
Labour secures backing from 120 business leaders, including key figures from finance, retail, and technology, calling for a new economic outlook to break free from a decade of stagnation.
Post-Pandemic Setback: Fewer Women Among Top Earners in the City
Gender equality in the workplace has regressed post-pandemic, with fewer women in top earning positions and a widening gender pay gap. Calls for drastic measures grow.
Young British Workers Exploit Sick Leave, Outnumbering Migrant Staff Absences
British workers are taking more sick days than their migrant counterparts, creating challenges for employers. Care home boss Geoff Butcher highlights a significant disparity and rising concerns post-pandemic.
Elon Musk Criticises US Tariffs on Chinese Electric Vehicles Amid Trade Tensions
Elon Musk opposes US tariffs on Chinese electric vehicles, clashing with President Biden’s recent increase in levies. The move aims to protect US jobs but faces criticism from industry leaders and international pushback.
Rachel Reeves Pledges No Income Tax or NI Hikes Under Labour
Labour’s Rachel Reeves rules out increasing income tax or National Insurance if elected, despite acknowledging potential spending cuts. Conservatives and other parties respond.
£4bn Tax Loophole for Private Equity Executives Under Threat
Lenient tax treatment under “carried interest” rules has allowed private equity executives to save £4 billion. Labour plans to abolish this loophole if they win the next general election.
British ISA Plans in Limbo Following Sunak’s Election Call
Rishi Sunak’s decision to call an early election has cast uncertainty over key City reform efforts, including the British ISA and the Pisces private market initiative.
Ofcom Investigates Royal Mail for Missing Delivery Targets
Ofcom investigates Royal Mail for failing to meet first-class delivery targets, with potential financial penalties on the horizon. IDS reports narrowed losses amid buy-out offer from billionaire Daniel Kretinsky.
