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.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
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”.
Liz Kendall unveils AI ‘Future of Work’ unit and pledge to upskill 10 million workers by 2030
Science and Technology Secretary Liz Kendall has announced a new cross-government Future of Work Unit, a £27m TechLocal programme and plans to upskill 10 million workers in AI by 2030.
Amazon axes 16,000 more jobs worldwide to ‘remove bureaucracy’
Amazon is cutting a further 16,000 jobs globally in a second round of layoffs, with UK roles at risk, as the retail giant moves to streamline management and reduce bureaucracy.
LVMH results point to prolonged pressure across the luxury market, says GlobalData
LVMH’s full-year 2025 results show falling revenues across key regions and categories, signalling that structural challenges in the global luxury market may persist into 2026, according to GlobalData.
Revolution bar group rescued but nearly 600 jobs lost as 21 sites close
Revel Collective has been rescued out of administration, but the closure of 21 Revolution and Revolución bars has led to almost 600 job losses across the UK hospitality sector.
Pound hits four-year high against dollar, prompting calls to ‘buy now’
Sterling has climbed to $1.38 against the US dollar — its strongest level since 2021 — as dollar weakness, rate expectations and geopolitical uncertainty fuel calls that now is a good time to buy.
Small defence firms to get easier access to MoD contracts under new growth unit
The Ministry of Defence has launched a new office to help small defence companies win contracts, aiming to boost SME procurement by £2.5bn a year and cut long delays in military purchasing.
Transport Committee urges action to secure skills pipeline for UK transport manufacturing
MPs have urged the Government to act urgently to address skills shortages in transport manufacturing, warning that outdated training pathways risk holding back growth in net zero and advanced technologies.
Lords warn pensions inheritance tax changes risk overwhelming personal representatives
A House of Lords committee has warned that proposed inheritance tax changes on pensions will place an unmanageable burden on personal representatives, risking delays, cashflow problems and rising costs.
Labour MPs urge chancellor to halt business rates rise for music venues
Nearly 50 Labour MPs have urged Rachel Reeves to pause a looming business rates rise for music venues, warning that bills could jump by up to 275% and threaten venues’ survival.
India and EU strike landmark trade deal after two decades of talks
India and the European Union have agreed a landmark free trade deal, cutting tariffs and boosting market access across goods, services and mobility amid rising global trade tensions.
High Court fast-tracks judicial review into inheritance tax relief reforms
The High Court has granted an urgent rolled-up hearing for a judicial review challenging the Government’s proposed changes to Agricultural and Business Property Relief from inheritance tax.
Revolution Bars owner set for administration with 2,200 jobs at risk
Revel Collective, owner of Revolution Bars and Revolucion de Cuba, is preparing to enter administration, putting up to 2,200 jobs at risk as hospitality pressures intensify.
