Billionaire hedge fund manager Sir Chris Hohn has attacked UK and US foreign aid cuts as “cruel” after donating an extra $328m to his Children’s Investment Fund Foundation to plug funding gaps.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Business secretary to meet JCB chief over US tariff chaos
Business Secretary Jonathan Reynolds will meet JCB boss Graeme Macdonald after the digger giant warned that new US tariffs on British steel and aluminium products are causing “chaos” at American ports.
Food inflation hits 18-month high as chocolate, butter and egg prices surge
UK food inflation has climbed to 4.2% – its highest level since February 2024 – as rising prices for chocolate, butter and eggs add pressure to households already struggling with the cost of living.
Americans embrace Aldi as German discounter becomes fastest-growing supermarket in US
Aldi is winning millions of loyal US shoppers with its no-frills, low-cost model. Store visits are up 51% in five years, making the German discounter America’s fastest-growing supermarket chain.
Entry-level job vacancies slump to five-year low as Reeves’s tax raid hits young workers
UK entry-level jobs have fallen to their lowest share in five years, with vacancies down 6.8% in July as higher employer taxes, rising wage bills and AI adoption squeeze graduate and junior roles.
Reeves tax raid blamed as nightlife ‘deserts’ spread across Britain
New research shows 25% of UK towns and cities now have no nightclubs, with closures accelerating in Manchester, Birmingham and London as rising taxes and costs create nightlife ‘deserts’.
TikTok cuts threaten hundreds of UK content moderator jobs amid AI shift
TikTok is moving UK content moderation roles to Europe as it leans on AI, putting hundreds of jobs at risk despite rising regulatory pressure under the Online Safety Act.
Royal Mail and DHL suspend US parcel deliveries as Trump tariffs take effect
Royal Mail and DHL have paused some parcel deliveries to the US after President Trump scrapped America’s $800 duty-free threshold, leaving businesses scrambling to adjust to new tariffs on low-value goods.
US jobs market faces ‘Trump slump’ as tariffs and cuts hit growth
Economists warn the US labour market is sliding into a “Trump slump”, with jobs growth forecast to fall 64% in 2025 as tariffs, immigration curbs and sweeping government cuts weigh on businesses.
Gen Z workers turn back to office jobs to combat loneliness
Almost 40% of Gen Z employees say remote work leaves them lonely, with many applying for office-based roles to rebuild social connections and support their mental health, new Bupa research reveals.
Employment tsar warns too many young people are signed off work for struggling with tough jobs
Government worklessness tsar Sir Charlie Mayfield says GPs are fuelling economic inactivity by signing young people off sick for anxiety caused by tough jobs, as workplace health challenges drive record sickness levels.
Hospitality hit hardest as nearly 90,000 jobs lost after budget tax rises
The UK hospitality sector has suffered almost 90,000 job losses since the autumn budget, with industry leaders warning tax hikes are crippling pubs, restaurants and hotels.
UK space industry boosted by reforms as government merges UK Space Agency with DSIT
The UK Space Agency will merge with the Department for Science, Innovation and Technology by 2026 under reforms to cut red tape and drive growth in the £2.3bn space sector.
Fed rate cut looms after Powell’s Jackson Hole speech
Federal Reserve Chair Jerome Powell signalled caution at Jackson Hole, but investors expect a September rate cut as US economic cracks deepen.
Starmer accused of betraying farmers as British food pledge stalls
Keir Starmer faces backlash after Labour fails to deliver pledge that half of public sector food be locally sourced, with farmers warning of food shortages and record closures.
