JPMorgan Chase has been named the world’s most AI-advanced bank for a third year running, leading the 2025 Evident AI Index. UK lenders HSBC and Lloyds improved their positions but continue to trail US rivals on AI talent.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Revolut co-founder Nik Storonsky shifts residency from UK to Dubai
Revolut co-founder Nik Storonsky has moved his residency from the UK to Dubai, according to Companies House filings. The billionaire CEO’s shift comes weeks after pledging a £3bn UK investment and opening Revolut’s new London HQ.
FCA unveils £9bn compensation scheme for car finance scandal victims
The FCA has unveiled plans for a £9bn compensation scheme covering 14 million car finance deals mis-sold through discretionary commission arrangements. Average payouts are expected to be £700 per driver, with redress starting next year.
Asahi restarts beer production after cyber-attack disrupts Japanese breweries
Asahi has resumed beer production at all six of its Japanese breweries after a major cyber-attack forced shutdowns, disrupting supplies of Asahi Super Dry and other drinks to retailers including 7-Eleven and FamilyMart.
DPD faces disruption as drivers take action over pay cuts to small parcel deliveries
DPD drivers have begun three days of action after the delivery firm cut payments for small parcels by 65p, a move that could cost some self-employed drivers more than £6,500 a year.
OpenAI strikes multibillion-dollar deal with AMD in challenge to Nvidia’s AI chip dominance
ChatGPT maker OpenAI has signed a multibillion-dollar deal with AMD to buy 6GW of AI processors over five years, in a move set to challenge Nvidia’s supremacy and reshape the global AI chip race.
Gold surges past $3,900 for the first time as investors seek safety amid global uncertainty
Gold prices broke through $3,900 an ounce for the first time as investors rushed to safe-haven assets amid falling interest rates, US political tensions and renewed concerns over global economic stability.
Ineos blames cheap Chinese imports and high energy costs as it cuts 60 jobs in Hull
Ineos is cutting 60 jobs at its Hull chemicals plant, blaming cheap Chinese imports, soaring UK energy costs and weak government protection for putting Britain’s manufacturing sector under severe strain.
UK investors withdraw record £3.6bn from shares as market jitters drive shift to bonds and cash
UK investors pulled £3.6bn from equity funds in Q3 2025, the largest quarterly outflow since records began, as fears of overvalued markets and an AI-fuelled bubble prompted a rush towards bonds and cash.
Reeves to relax planning laws and target banks with £2bn tax rise in bid to stabilise public finances
Chancellor Rachel Reeves is preparing sweeping planning reforms and a £2bn tax raid on banks in her 26 November Budget as she faces a £30bn deficit and pressure to revive Britain’s flagging growth.
Aston Martin issues profit warning as weak demand and Valhalla delays hit turnaround hopes
Aston Martin warns of another loss-making year amid weak demand, tariffs and Valhalla hypercar delays, reversing hopes of a turnaround under CEO Adrian Hallmark.
Piers Morgan’s production company hits £17.1m turnover as TalkTV deal ends
Piers Morgan’s Wake Up Productions reported £17.1m turnover in 2024, completing his £50m News UK deal as Piers Morgan Uncensored expands globally after going digital-only.
Frasers Group warns Unite against ‘reckless’ strike threats over warehouse pay
Mike Ashley’s Frasers Group has warned Unite against “reckless and irresponsible” strike threats at its warehouses after the union demanded staff be paid the real living wage.
UK electric car sales surge to record high as government subsidies spark demand
UK electric car sales hit a record 72,800 in September, up nearly a third year-on-year, after new government subsidies reignited demand and helped plug-in hybrids jump 56%.
Budget jitters slow UK business growth as firms delay spending
Political and fiscal uncertainty ahead of Chancellor Rachel Reeves’s delayed autumn budget has dragged UK business growth to a near standstill, with the S&P Global PMI slipping to 50.1 in September.
