OpenAI is reportedly in talks for a share sale that could raise its valuation to $500bn, overtaking Elon Musk’s SpaceX and further solidifying its AI leadership.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Bank of England expected to cut interest rates to 4% amid weakening UK economy
The Bank of England is expected to cut interest rates to 4% today, its fifth reduction in a year, as it responds to falling growth and softening wage momentum despite rising inflation.
TSB brand under threat as £2.65bn sale to Santander approved by Sabadell shareholders
Sabadell shareholders approve £2.65bn cash sale of TSB to Santander, raising concerns over the future of the historic high street brand amid planned integration and branch closures.
Starmer refuses to rule out tax hikes as economists warn of £50bn fiscal black hole
Keir Starmer refuses to rule out income tax or VAT increases as economists warn Labour faces a £50bn funding gap to meet fiscal rules and maintain spending commitments.
Trump to announce $100bn Apple investment pledge to boost US manufacturing
Apple pledges an additional $100bn to expand U.S. production, amid pressure from President Trump to reduce offshore manufacturing and avoid new iPhone tariffs.
Visa in talks to move European HQ to Canary Wharf in boost for Docklands
Visa is in advanced talks to move its European headquarters to One Canada Square, signalling confidence in Canary Wharf amid high-profile tenant departures.
Ageing car fleet risks slowing UK’s electric vehicle transition, warns RAC Foundation
The average car in the UK is now nearly 10 years old, RAC Foundation data shows, raising concerns that slower vehicle turnover could hinder the switch to electric cars.
One in ten businesses lose staff over office return demands, BCC finds
New BCC research reveals 9% of UK firms have lost staff due to remote working policies, with half expecting full office returns by next year amid productivity concerns.
£105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000
More than £105 million in Premium Bond prizes remain unclaimed, including 11 worth £100,000. NS&I urges savers to check their contact details and trace old bonds.
Neil Woodford fined £46m and banned from senior City roles over fund collapse
Disgraced fund manager Neil Woodford and his firm fined £46m by FCA for mismanaging the Woodford Equity Income Fund, leaving investors £1bn out of pocket and damaging confidence in retail fund management.
Rachel Reeves warned she must raise £50bn in taxes or cuts to avoid fiscal crisis
Economists warn Chancellor Rachel Reeves will need to raise £50bn annually through tax increases or spending cuts by 2029 to meet Labour’s fiscal rules and stabilise public finances.
Calls mount for Neil Woodford to be stripped of CBE as FCA hands down multi-million pound fine
Campaigners urge Honours Forfeiture Committee to strip Neil Woodford of his CBE after the FCA fines him £5.9m and bans him from retail fund management.
Rail services cut in southern England as dry weather disturbs track stability
South Western Railway cuts services and imposes speed restrictions in Dorset and Devon after record spring dryness causes embankment shrinkage and track instability.
Shein fined €1m in Italy for misleading environmental claims
Shein has been fined €1m by Italian regulators for misleading environmental claims, just weeks after a €40m penalty from France over deceptive commercial practices.
Tesla’s UK sales slump nearly 60% in July amid market pressures
Tesla’s UK car sales fell by almost 60% in July, with just 987 registrations, as EV competition intensifies and wider market uncertainty dampens consumer demand.
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