Lloyds Banking Group will close 49 more branches in 2026 across Lloyds, Halifax and Bank of Scotland as the high street banking exodus deepens.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Reeves urged to slap drivers with pay-per-mile tax that could raise £20bn
Drivers could be taxed per mile under Reeves’s Budget plans, raising £20bn a year. Critics warn of unfair costs and privacy risks.
Mandelson stripped of Power at his own firm after Epstein email scandal
Peter Mandelson has been stripped of his voting rights and dividend payments at Global Counsel after damning emails revealed his close ties to Jeffrey Epstein. His 21% stake is now being sold.
Jeremy Hunt warns Reeves: soaring taxes will kill UK’s ‘animal spirits’
Ex-Chancellor Jeremy Hunt slams Rachel Reeves’s £30bn tax plan, warning it will crush growth, stifle business and kill the UK’s ‘animal spirits’.
‘Companies will go bust’: metal industry warns Reeves as energy fees double
UK manufacturers say they face collapse as energy standing charges and levies double, with firms warning Reeves that new bills will drive jobs overseas.
HMRC handed ‘draconian’ new powers to raid bank accounts and Isas of tax dodgers
HMRC can now raid bank accounts and Isas to recover unpaid taxes over £1,000 after Reeves revived its controversial debt recovery powers.
JD Sports warns Reeves: stop driving up job costs as profits slide and youth unemployment rises
JD Sports warns Rachel Reeves against more job cost hikes as profits slump 13.5% and youth unemployment rises, despite booming trainer sales.
Revolut commits £3bn UK investment, creating 1,000 jobs in major fintech expansion
Revolut has pledged a £3bn UK investment over five years, creating 1,000 jobs and expanding its London HQ. Chancellor Rachel Reeves hailed the move as a vote of confidence in Britain’s financial sector.
Reeves VAT bombshell: Small firms face £30,000 registration threshold in Budget shake-up
Chancellor Rachel Reeves is considering slashing the VAT registration threshold from £90,000 to £30,000 in the November Budget – a move that could drag tens of thousands of small businesses into the tax net and raise billions for the Treasury.
Boohoo warns suppliers of late payments as cash crisis deepens
Boohoo has warned suppliers of delayed payments amid a growing cash squeeze, weeks after securing a £175m loan and reporting annual losses of £348m.
Thousands of Britons to be hit by Trump’s $100,000 visa fee
Thousands of British tech workers face soaring costs after Donald Trump raised the H-1B visa fee to $100,000, sparking backlash from Silicon Valley and opening an opportunity for the UK.
OECD forecasts UK to have highest inflation in G7 in 2025
The OECD has raised its forecast for UK inflation to 3.5% in 2025, the highest in the G7, as Rachel Reeves faces pressure to balance the budget with tax rises or spending cuts.
Amazon Fresh to close all 19 UK stores with up to 250 jobs at risk
Amazon will close all 19 of its UK Fresh stores, putting up to 250 jobs at risk, as it pivots to online grocery and expands its Whole Foods Market presence.
Rachel Reeves urged to shift 2p from NI to income tax in autumn budget
The Resolution Foundation has urged Rachel Reeves to cut 2p from employee national insurance and raise income tax instead, a move that could raise £6bn a year while spreading the tax burden more fairly.
Nvidia to invest $100bn in OpenAI, cementing landmark AI partnership
Nvidia will invest up to $100bn in OpenAI and supply its data centre chips from 2026, in a landmark partnership between two of the world’s AI leaders.
