India’s exports to the US have fallen 40% in four months as Trump’s 50% tariffs take effect, hitting textiles, jewellery and engineering goods. Talks are under way to ease tensions and rescue a trading relationship worth $190bn.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Bankers to receive bonuses faster under post-crisis rule change
The PRA and FCA have cut the deferral period for senior banker bonuses from eight years to four, in the latest post-crisis reform aimed at boosting the City’s global competitiveness while maintaining safeguards against excessive risk-taking.
Donald Trump’s Scottish golf resorts still loss making despite rising revenues
Donald Trump’s Turnberry and Aberdeenshire golf resorts reported smaller annual losses despite strong growth in turnover, as Eric Trump said sustained investment and new tournaments are helping to raise their international profile and drive a future return to profitability.
Ex-Bank economist Andy Haldane to lead British Chambers of Commerce
Andy Haldane, former Bank of England chief economist and advisor to the Treasury, will become president of the British Chambers of Commerce in February, succeeding Baroness Lane-Fox at a time of mounting economic pressure on UK businesses.
£2bn UK lawsuit accuses Microsoft of overcharging cloud customers
Thousands of UK businesses urged to join a £2 billion collective action accusing Microsoft of overcharging firms that ran Windows Server on rival clouds such as AWS and Google, after the CMA found its licensing “adversely impacts” competition.
Reeves confirms tax rises and spending cuts on the table as budget black hole deepens
Chancellor Rachel Reeves has admitted both tax rises and spending cuts are being weighed for her 26 November Budget as she confronts a £30bn fiscal shortfall — warning that austerity, Brexit and weak productivity have “weighed heavily” on growth.
Deadline day looms for PPE Medpro as £122m Covid repayment unlikely to be made
As the deadline passes for PPE Medpro to repay £122m over a breached COVID PPE contract, the company remains in administration, and the DHSC faces a growing risk of recovering nothing.
Instagram to introduce PG-13-style controls to protect teen users, says Meta
Instagram will roll out a PG-13-style content rating for teens, automatically placing under-18s into stricter settings that limit access to adult and harmful content. Meta says the move aligns online safety with familiar parental guidance standards.
Wayve wheels in Microsoft and Softbank for $2bn cash injection
British AI start-up in talks over landmark deal that could value it at $8bn as driverless car race accelerates
UK unemployment rises to 4.8% as wage growth cools to three-year low
UK unemployment has risen to 4.8%, its highest level since 2021, as wage growth cools sharply to 4.7%. Economists say the data signals a loosening labour market and could pave the way for Bank of England rate cuts next year.
Storms and tax fears cool retail growth to 2.3% as households rein in spending
Retail sales growth slipped to 2.3% in early October, new BRC and KPMG figures show, as wet weather, high inflation and fears of tax rises in Rachel Reeves’s upcoming Budget dampened consumer confidence ahead of the key Christmas trading season.
Larry Ellison commits extra £890m to Oxford science institute amid leadership turmoil
Oracle founder Larry Ellison has committed a further £890m to expand his Oxford institute into a 2m sq ft research campus for 7,000 people — one of the UK’s largest ever private investments in science and innovation.
Fujitsu boss gets 50% pay rise despite Horizon scandal fallout
Fujitsu’s UK chief has received a 50% pay rise to £591,000 as the company faces ongoing scrutiny and lawsuits linked to the Post Office Horizon scandal, one of the worst miscarriages of justice in UK corporate history.
Major new UK–EU partnership to boost AI adoption and economic growth
The University of Edinburgh’s EPCC has secured €10m to launch the UK AI Factory Antenna, a major UK–EU project to accelerate AI adoption in science, business and public services and strengthen European research collaboration.
China warns U.S. of retaliation over Trump’s 100% tariff threat
Beijing has vowed retaliation if Donald Trump imposes 100% tariffs on Chinese imports, reigniting fears of a renewed U.S.–China trade war and wiping trillions off global markets as investors brace for further economic turbulence.
