Category: News

Rightmove data shows UK house prices have fallen 0.1% year-on-year, the first decline since January 2024, as record stock levels force sellers to cut asking prices.

The Treasury is reviewing plans to scrap landfill tax exemptions after a backlash from housebuilders and manufacturers, with bosses warning bills could soar from £4m to £100m. Officials now say reforms may be delayed by up to 12 months.

Vauxhall and Peugeot owner Stellantis has earmarked £37m for claims linked to the UK car finance mis-selling scandal, as the FCA prepares a compensation scheme that could cost lenders up to £18bn.

Advisory firm Global Counsel is selling Peter Mandelson’s multimillion-pound stake after his dismissal as US ambassador and renewed scrutiny over his ties to Jeffrey Epstein.

UK retailers say up to 400 large stores and 100,000 jobs are at risk if the government raises business rates on big sites to fund tax cuts for smaller firms, warning of closures, job losses and price hikes.

Barclays CEO CS Venkatakrishnan has warned the UK government to limit public sector pay rises and avoid further tax increases on banks as chancellor Rachel Reeves seeks to plug a budget shortfall.

Octopus Energy has signed a deal with Chinese turbine maker Ming Yang Smart Energy to develop 6GW of wind farms, but Conservatives warn the move poses “unacceptable” risks to UK energy security.

The UK economy recorded zero growth in July, with a sharp fall in manufacturing offsetting gains in services and construction. Economists warn of slower momentum heading into the third quarter.

Train operator LNER has urged vigilance after a cyber-attack on a third-party supplier exposed some passenger contact details and journey records, though no payment data was accessed.

Sotheby’s reported losses of $248m in 2024 as art market demand slumped and severance costs surged, despite only 24 staff departures. Revenues fell 18% to $813m.

Chancellor Rachel Reeves says the UK economy is “stuck, not broken” as she considers reforms to business rates, aiming to remove cliff edges that penalise small firms expanding to new premises.

Oracle founder Larry Ellison has surpassed Elon Musk as the world’s richest man, with his fortune surging to $393bn after AI-fuelled demand sent Oracle shares soaring 40%.

A PwC-backed report from the Association of the British Pharmaceutical Industry shows UK foreign direct investment in life sciences has fallen sharply, with big pharma executives warning of poor NHS policies and an uncompetitive environment.

US drugmaker Merck scraps plans for a £1bn London research hub and cuts UK discovery operations, criticising government undervaluation of innovative medicines and NHS pricing policies.