Energy secretary Ed Miliband has approved dozens of new solar and onshore wind projects across the UK, sparking a backlash over farmland loss and rising consumer subsidies.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Starling founder Anne Boden cuts stake in £4bn fintech
Starling Bank founder Anne Boden has reduced her shareholding in the digital lender following a secondary share sale that valued the fintech at up to £4bn.
Gilt yields jump as pressure mounts on Starmer amid leadership speculation
UK gilt yields rose as investors sold bonds amid fears of political instability and a possible shift to more left-wing Labour policies following calls for Keir Starmer to step down.
Barclays to lean on AI as it targets £2bn cost cuts and £15bn capital return
Barclays plans to cut £2bn of costs over three years and ramp up the use of AI as it targets more than £15bn of capital returns to shareholders by 2028.
NCSC reveals Budget forecasts accessed almost 25,000 times before publication
An NCSC investigation has found that official OBR Budget forecasts were accessed nearly 25,000 times before Rachel Reeves delivered her Budget speech, following a major data leak.
UK secures 6.2GW of onshore wind and solar in latest clean power auction
The UK government has awarded 6.2GW of new onshore wind and solar projects in CfD Allocation Round 7, taking total CfD-backed capacity to more than 50GW.
Ocado considers up to 1,000 job cuts in renewed cost-cutting drive
Ocado is considering cutting up to 1,000 jobs as part of a fresh cost-cutting programme, with most redundancies expected at its UK head office as the group seeks to return to positive cashflow.
‘Thirst for Britain’: Peter Kyle urges SMEs to take leap into exporting
Business secretary Peter Kyle is calling on UK SMEs to start exporting, promising government-backed finance and advice to help firms seize overseas demand for British products.
High Court clears way for thousands to pursue Capita data breach claims
A High Court judge has ruled that thousands of claimants can continue legal action against Capita over a major 2023 cyber attack, marking a significant moment for UK data privacy cases.
![Heathrow has said passenger numbers were 60% lower in November than before the coronavirus pandemic and there were “high cancellations” among business travellers concerned about being trapped overseas for Christmas as Omicron spreads. The UK’s largest airport said the government’s travel restrictions had dealt a fresh blow to travel confidence and predicted it was likely to take several years for passenger numbers to return to pre-pandemic levels. This week ministers said passengers arriving in the UK would have to take a pre-departure Covid test, as well as a post-flight test, because of fears about the spread of the new variant. “[The] high level of cancellations by business travellers concerned about being trapped overseas because of pre-departure testing shows the potential harm to the economy of travel restrictions,” the airport said in an update. Heathrow said the drop in traveller confidence owing to the new travel restrictions had negated the benefit of reopening the all-important corridor to North America for business and holiday travel last month. Eleven African countries have been added to the government’s red list, requiring travellers to quarantine before reuniting with families. “By allowing Brits to isolate at home, ministers can make sure they are reunited with their loved ones this Christmas,” said John Holland-Kaye, the chief executive of Heathrow. “It would send a strong signal that restrictions on travel will be removed as soon as safely possible to give passengers the confidence to book for 2022, opening up thousands of new jobs for local people at Heathrow. Let’s reunite families for Christmas.” Heathrow said that if the government could safely signal that restrictions would be lifted soon, then employers at Heathrow would have the confidence to hire thousands of staff in anticipation of a boost in business next summer. The airport is expecting a slow start to 2022, finishing next year with about 45 million passengers – just over half of pre-pandemic levels. This week Tui, Europe’s largest package holiday operator, said it expected bookings for next summer to bounce back to 2019 levels. However, Heathrow said on Friday not to expect the aviation industry to recover for several years. “We do not expect that international travel will recover to 2019 levels until at least all travel restrictions (including testing) are removed from all the markets that we serve, at both ends of the route, and there is no risk of new restrictions, such as quarantine, being imposed,” the airport said.](https://b3935509.assetcdn.net/2.0/3935509/wp-content/uploads/2024/05/shutterstock_1100012546-230x154.jpg?lossy=2&strip=1&webp=1)
Weight-loss jabs threaten Greggs’ growth, analysts warn
City analysts warn that the rise of weight-loss jabs such as Mounjaro and Wegovy could pose a lasting challenge for Greggs, hitting demand from some of its most valuable customers.
NatWest seals £2.7bn Evelyn Partners takeover in biggest deal since bailout
NatWest has agreed a £2.7bn acquisition of Evelyn Partners, creating the UK’s largest private banking and wealth management group as lenders pivot towards fee-based income.
US offers $225m backing for Cornwall tin mine in bid to secure supply
Cornish Metals receives US interest in a $225m loan to revive South Crofty, with future tin production potentially exported to America.
Bank of England Governor ‘shocked’ by Mandelson leaks to Epstein
Andrew Bailey says he was shocked by claims Peter Mandelson leaked sensitive financial information to Jeffrey Epstein and supports a police investigation.
Vauxhall owner takes €22bn hit after electric car u-turn
Vauxhall owner Stellantis has booked a €22bn hit after reversing its electric vehicle strategy, sending shares down more than 20% and scrapping its dividend.
Award-winning builder quits UK for Switzerland, due to tax pressure and skills crisis
An award-winning UK tradesperson is relocating to Switzerland, warning that rising taxes, weak apprenticeship support and red tape are driving skilled workers overseas.
