The UK’s competition watchdog is investigating Asos, Boohoo and Asda over claims about the sustainability of their fashion products.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Taxpayers left with £421m bill after one in 12 firms default on Covid loans
Taxpayers have been left to foot a £421m bill to cover soured Covid debts, after one in 12 businesses defaulted on state-backed emergency loans distributed at the height of the pandemic, official figures reveal.
Housing affordability falls to its lowest since 1999
The affordability of a home in England has fallen to its lowest since records began in 1999, official figures show.
Centrica defends £1.3bn windfall as wholesale energy prices leap
The British Gas owner Centrica has defended paying £59 million to shareholders after its profits surged fivefold to £1.3 billion thanks to high energy prices.
July tax bill creates £51 billion in consumer debt
A whopping £51 billion in credit card, overdraft and personal loan debts will be accrued by consumers who are struggling to meet the upcoming tax deadline.
US plunges into recession as rest of world braces for similar fate
The US economy has officially plunged into recession in a sign of things to come for the rest of the world, figures published today revealed.
Train drivers to walk out over pay on 13 August
Train drivers at nine rail companies will strike on 13 August in a dispute over pay, the union Aslef has said.
Long Covid costing UK workers up to £1.5bn yearly in lost income
Long Covid is costing the UK up to £1.5bn a year in lost earnings, researchers say, after the number of people suffering persistent symptoms of the virus doubled over the last 12 months.
Barclays profits hit by higher costs and litigation expenses
Higher costs, as a result of a weaker British pound, expensive litigation and conduct charges, and inflation, offset a 17 per cent increase in Barclays total income to see the bank’s pre-tax profits drop in the first half of 2022.
Shell unveils record profits and begins $6bn buyback programme
Energy giant Shell has posted massive profits of $11.5bn for the second quarter, smashing its previous record three months of trading earlier this year when it reported $9.2bn earnings.
Carmakers signal start of recovery
Car manufacturing in the UK rose by 5.6 per cent in its best June since the pandemic as the shortage of semiconductors and supply chain issues began to ease, figures show.
Overhaul of financial services regulation to end ‘rip-off’ fees
The UK’s Financial Conduct Authority (FCA) has today announced a major change in how it regulates financial service firms, outlining measures to end “rip-off” fees and ensure fintech companies provide “clear” information to consumers.
British Business Bank pumps £30m into early-stage venture fund amid investment slowdown
The state-backed British Business Bank revealed it had pumped £30m into a new early-stage venture fund today as it looks to fill a funding gap for small firms amid a major investment slowdown this year.
Sunak promises to scrap VAT on fuel bills if PM in dramatic U-turn
Rishi Sunak has promised to scrap VAT on household fuel bills for a year to tackle the cost of living crisis, in a dramatic U-turn, as he battles to remain in the race to become the next prime minister.
UK railways disrupted again as workers take action over pay and conditions
The railways will again grind to a halt on Wednesday as workers strike over pay, job security and working conditions.
