Elon Musk’s SpaceX has acquired xAI in a landmark deal that brings rockets, Starlink satellites, X and the Grok chatbot under one roof ahead of a potential blockbuster IPO later this year.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
British factories cut US exports as Trump tariff uncertainty bites
UK manufacturers are pulling back from the US market as Donald Trump’s tariff threats disrupt trade, with more than a third reporting a negative impact, according to Make UK and DHL.
Bank of England set to hold rates as inflation rise cools cut expectations
The Bank of England is expected to keep interest rates on hold at 3.75% this week after inflation ticked up, though governor Andrew Bailey may signal a spring cut.
UK unemployment set to hit five-year high as tax rises begin to bite, EY warns
UK unemployment is forecast to rise to a five-year high in 2026 as Rachel Reeves’s tax rises and global trade uncertainty weigh on growth, according to EY Item Club.
Trump warns UK it is ‘very dangerous’ to do business with China as Starmer visits Shanghai
Donald Trump has warned the UK it is “very dangerous” to do business with China, as Prime Minister Keir Starmer visits Shanghai following trade and investment agreements agreed in Beijing.
Octopus Energy strikes major China joint venture during PM visit
Octopus Energy has announced a new joint venture with China’s PCG Power to trade renewable energy, aiming to handle up to 140TWh a year by 2030 and export British energy technology into the world’s largest clean power market.
UK bans Coinbase adverts that suggested crypto could ease cost-of-living pressures
The UK’s advertising watchdog has banned Coinbase adverts that implied cryptocurrency could help address cost-of-living concerns, ruling they trivialised the risks of crypto investing.
Apple posts record iPhone sales as Mac revenues fall
Apple has reported its best-ever iPhone sales in the final quarter of 2025, lifting overall revenues to $144bn, although Mac and wearables sales declined.
Tesla axes Model S and X as revenues fall and focus shifts to AI and robotics
Tesla has reported its first annual revenue decline as it cuts the Model S and Model X, pivots manufacturing to humanoid robots and deepens investment in AI.
China to allow visa-free travel for British visitors as UK seeks closer trade ties
China will allow British citizens to travel visa-free for up to 30 days after talks between Prime Minister Keir Starmer and President Xi Jinping, as the UK looks to boost trade and services exports.
Ministers again reject Waspi compensation claims after fresh review
Ministers have again ruled out compensation for women affected by state pension age changes, despite a fresh review, prompting fury from the Waspi campaign and opposition MPs.
Aldi to open 40 new UK stores in 2026 as part of £370m expansion
Aldi plans to open 40 new UK stores in 2026 under a £370m investment, targeting towns without an Aldi as it works towards a long-term goal of 1,500 locations.
UPS to cut 30,000 jobs as it accelerates shift away from Amazon deliveries
UPS plans to cut up to 30,000 jobs in 2026 as it continues to scale back low-margin Amazon deliveries, despite forecasting higher revenues for the year ahead.
Poundland owner Gordon Brothers buys LK Bennett out of administration
LK Bennett has been bought out of administration by Gordon Brothers, the US firm behind Poundland’s rescue, putting the fashion brand’s nine UK shops and 380 jobs at risk.
Royal Mail delivered Christmas post late to 16 million people, Citizens Advice finds
Royal Mail delivered letters and parcels late to around 16 million people over Christmas, up 50% on last year, prompting warnings from Citizens Advice that consumers face “no light at the end of the tunnel”.
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