Wise shareholders have approved plans to shift the fintech’s primary listing to New York and extend Kristo Kaarmann’s enhanced voting rights for 10 more years, despite co-founder opposition.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Vodafone CEO challenged by ex-franchisees at AGM over landmark legal dispute
Vodafone’s AGM disrupted by former franchisees accusing the company of financial ruin and mental distress, demanding accountability over £120m legal claim advancing to trial.
Landmark Supreme Court ruling rejects Uber’s attempt to impose VAT on all private hire fares
The UK Supreme Court has ruled against Uber in a long-running legal battle that could have forced all private hire operators in England and Wales to charge VAT, a move that industry bodies had warned would lead to “seismic consequences” for businesses and passengers alike.
Müller acquires Dragon rejected Biotiful Gut Health as it enters functional dairy market
Müller UK & Ireland has acquired kefir brand Biotiful Gut Health to expand into the growing functional health dairy market, with founder Natasha Bowes staying on in an advisory role.
UK padel boom triggers surge in planning applications as nearly 17,000 development sites identified
Planning applications for padel courts in the UK jumped by 113% in 2024, with nearly 17,000 locations flagged for potential development, according to new data from Searchland.
Lip balm sales rise as Britons seek affordable luxuries in cost-of-living squeeze
UK lip balm and liner sales rose 16% to £80.4m as Britons seek small luxuries amid economic stress, fuelling the ‘lipstick effect’ in beauty buying trends.
Trump tariff confusion gave UK economy short-term boost, but long-term risks remain, says EY Item Club
The UK economy received an unexpected lift earlier this year as businesses rushed to complete orders ahead of President Trump’s sweeping tariff regime, according to the latest forecast from the EY Item Club.
MoD received £211bn worth of suspicious invoices in three years amid fraud crackdown
The Ministry of Defence rejected £211bn worth of suspicious invoices over three years amid rising fraud concerns, following high-profile cases and calls for AI-based financial safeguards.
River Island faces collapse unless landlords approve urgent rescue plan
River Island warns it could enter administration unless landlords back a restructuring plan involving 33 store closures and rent cuts, with £10m needed by September.
UK firms cutting staff at fastest pace since February as economic pressures mount
UK businesses are slashing staff numbers at the fastest rate since February, hit by higher payroll taxes and US trade uncertainty, as PMI data signals weak economic growth.
EU fails to reduce 50% steel tariff in draft US trade deal as industry warns of ‘catastrophic’ impact
The European Union has failed to secure any reduction in the punitive 50 per cent US steel tariff in the latest outline trade deal with Washington, leaving the bloc’s exporters facing one of the harshest trade penalties imposed by President Donald Trump’s administration.
LVMH suffers steep drop in fashion sales as wealthy consumers tighten belts
LVMH reports a 9% fall in fashion and leather goods sales as luxury demand slows in the US and China. Group sales drop 4% as economic uncertainty weighs on affluent shoppers.
UK vehicle manufacturing hits 70-year low as industry faces tariff turmoil and EV grant confusion
UK car and van production has fallen to its lowest level in 70 years, with industry leaders blaming US tariffs, plant closures, and a lack of clarity around new electric vehicle grants.
Santander under fire as ‘free for life’ business banking customers hit with fees
Santander faces backlash from SMEs after introducing fees to business accounts once guaranteed to be “free for life” — a move some claim breaches written promises made in 2010.
EU and US close in on trade deal with 15% tariffs as Brussels prepares retaliatory strike
The EU and US are nearing a deal to impose 15% tariffs on most EU exports, but Brussels is preparing €93bn in countermeasures if Trump rejects the agreement.
