Category: News

Global stock markets jumped and the dollar strengthened after a major US court ruling blocked President Trump’s sweeping new tariffs, throwing his trade strategy into legal turmoil and easing investor concerns over further economic disruption.

Thames Water has been handed a record-breaking £122.7 million fine by Ofwat following two damning investigations into the UK’s largest water utility.

The UK’s government bond market is increasingly exposed to the risk of sharp price swings and sudden sell-offs, the International Monetary Fund has warned, due to a growing reliance on hedge funds and foreign investors.

McKinsey & Company has cut more than 10 per cent of its global workforce in the past 18 months, trimming headcount from over 45,000 at the end of 2023 to around 40,000 today, as the consulting giant adapts to a downturn in demand and the fallout from costly legal settlements.

Tesla’s grip on the European electric vehicle market weakened dramatically last month, with new figures showing a 49 per cent drop in sales across 32 European countries compared with April 2024 — a sharp contrast to the overall EV sector, which posted a 28 per cent year-on-year rise.

Toyota is preparing to invest £40 million in its Burnaston plant in Derbyshire as part of a plan to manufacture the high-performance GR version of its Corolla hatchback — a move that could breathe new life into the factory and capitalise on favourable trade conditions between the UK and US.

The UK housing market is enjoying its strongest spell of activity since the pandemic-era “race for space,” with estate agents reporting a surge in buyer interest and sales agreed reaching a four-year high, according to new data from property portal Zoopla.

Sara Murray, the founder of electronic monitoring firm Big Technologies, has agreed to a court order not to move or sell assets worth up to £320 million, as she faces a major High Court lawsuit over alleged undisclosed links to offshore companies.

University of Cambridge leaders have issued a stark warning that the UK risks falling behind in the race to commercialise world-class research unless it does more to support academic spin-out companies struggling to scale.

The UK government has announced a major step forward in its international artificial intelligence strategy, unveiling plans for a new UK-EU collaboration that could deliver breakthroughs in healthcare, energy and advanced technologies, while boosting British jobs and economic growth.

The Bank of England is facing a renewed challenge in its efforts to manage inflation and steer the economy, after fresh data showed starting salaries in the UK rose at their fastest pace in nearly three years.

British taxpayers have injected more than £400 million into Sheffield Forgemasters, the historic steelmaker and defence contractor, just three and a half years after the company was brought into public ownership — burning through a decade’s worth of planned investment in record time.

Job creation from new businesses in the UK has fallen to an eight-year low, with start-ups hiring fewer staff and closures contributing to a rising economic toll, according to new analysis by Cynergy Bank.