City investor David Zahn warns that rising gilt yields could force Rachel Reeves to deliver a second budget if markets react negatively to her fiscal plans, with 6% bond rates deemed “unsustainable”.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
UK inflation falls to 3.6%, lowest level in four months, as Budget looms
UK inflation has dropped to 3.6% — its lowest in four months — as energy and hotel prices ease, though food inflation has risen again. The fall comes one week before Rachel Reeves delivers the Budget.
Jeff Bezos launches new AI start-up Project Prometheus with $6.2bn backing
Jeff Bezos has launched AI start-up Project Prometheus with $6.2bn in early funding, hiring talent from OpenAI, Meta and DeepMind to build advanced engineering and manufacturing AI systems.
Jet2 chief warns Reeves not to treat aviation as a ‘cash cow’ ahead of Budget
Jet2 boss Steve Heapy warns Chancellor Rachel Reeves that further aviation tax rises will push up fares, hit demand and price lower earners out of holidays, as the airline posts record half-year revenues.
HP makes final $1.8bn claim against Mike Lynch’s estate in long-running Autonomy fraud case
HP has lodged a final $1.8bn claim against Mike Lynch’s estate in the long-running Autonomy fraud case—far above the estate’s value and years after a High Court judgment found Lynch liable for civil fraud.
Eight firms investigated over online pricing as CMA exercises new powers
The CMA has opened investigations into eight companies — including StubHub, Viagogo, AA and Wayfair — over online pricing practices such as drip pricing and pressure selling, using new powers under the Digital Markets Act.
New director verification rules ‘will cut corporate register’, experts warn
Experts warn the UK corporate register could shrink as Companies House introduces mandatory ID verification for directors and PSCs, increasing transparency and raising compliance risks for businesses.
Reeves’ fruit machine tax ‘would gamble with pubs’ futures’, industry warns
Pub operators warn that Rachel Reeves’ expected rise in gambling machine duty could slash a £622m income stream, accelerate pub closures and push thousands of venues closer to collapse.
Twitter hacker ordered to repay £4.1m in Bitcoin after celebrity account scam
Joseph James O’Connor, jailed in the US for hacking celebrity Twitter accounts, has been ordered to hand over £4.1m in Bitcoin after a CPS civil recovery action.
15-year-old Harrison Nott named Grand Winner of Alibaba.com’s CoCreate Pitch, taking home $200,000 prize
Alibaba.com has named 15-year-old Harrison Nott the Grand Winner of CoCreate Pitch Europe, awarding him $200,000 for his CoolTowel product innovation. Ten other SMEs were highly commended across Europe.
Britain’s largest pub operator is preparing £1 billion sell-off of more than 1,000 venues
Stonegate Group, owner of the Slug & Lettuce and Be At One chains, has opened preliminary talks with advisers about a disposal of part of its estate, according to industry sources.
George Osborne emerges as surprise contender to become HSBC chairman
Former chancellor George Osborne has emerged as a shock contender to succeed Sir Mark Tucker as HSBC chairman, joining Naguib Kheraj and Kevin Sneader on the shortlist for one of global banking’s top roles.
Government abolishes Police and Crime Commissioners as £100m is diverted to AI and cyber policing
The Government will abolish Police and Crime Commissioners, redirecting £100m into AI, cyber policing and neighbourhood officers. Regional mayors will absorb PCC roles as part of a major policing reform to raise standards nationwide.
Keir Starmer woos top bosses ahead of tax-heavy budget
Leaders from some of Britain’s most influential companies were ushered into Downing Street on Wednesday evening as Sir Keir Starmer sought to shore up relations with business ahead of what is widely expected to be a painful, tax-raising budget later this month.
Rachel Reeves abandons income tax rise as backlash forces major budget rethink
Rachel Reeves scraps plans to raise income tax ahead of the Budget after fears of backlash from MPs and voters, triggering a major rethink of her fiscal strategy.
