UK retail sales delivered a surprise boost in February, rising by 1 per cent month-on-month and defying expectations of a downturn, as consumers continued to spend on clothing, homewares and household goods despite lingering economic uncertainty. The latest figures from the Office for National Statistics (ONS) mark the second consecutive month of growth in retail […]
WH Smith, one of the UK’s oldest and most recognisable retail brands, is set to vanish from the high street after 233 years following the sale of its high street division to Modella Capital for £76 million. The historic books and stationery chain, established in 1792, has sold its entire portfolio of 480 UK high […]
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A sweeping new round of tariffs from President Trump has sent shockwaves through global markets, wiping billions of euros off the value of major European carmakers and dealing a fresh blow to the UK’s automotive sector. Trump’s decision to impose a 25 per cent tariff on all imports of cars and parts into the US […]
The UK faces an eye-watering debt interest bill of nearly £600 billion over the next five years, according to the Office for Budget Responsibility (OBR), as the government contends with soaring borrowing costs, weak economic growth, and mounting fiscal pressure. The stark projection was released alongside Chancellor Rachel Reeves’s spring statement, which included a £14 […]
Next has become only the fourth UK retailer in history to post annual pre-tax profits exceeding £1 billion, joining the ranks of Tesco, Marks & Spencer, and Kingfisher. The FTSE 100-listed fashion and homewares giant reported a profit of £1.01 billion for the year to 25 January — up 10.1 per cent on the previous […]
Up to 2,700 jobs are at risk at British Steel’s Scunthorpe steelworks after its Chinese owner, Jingye Group, announced plans to shut down the site’s two remaining blast furnaces and scale back rolling mill operations. The decision marks a major blow to the UK’s industrial heartlands and follows the rejection of a £500 million state […]
Chancellor Rachel Reeves delivered her 2025 spring statement today, outlining £14 billion in cuts to restore the UK’s fiscal headroom and committing £2.2 billion in defence investment. While the measures are aimed at tackling Britain’s debt and boosting economic resilience, business leaders have voiced concern that the statement did little to support growth, especially among […]
Chancellor Rachel Reeves delivered her spring statement today, unveiling a £14 billion package of cuts and new investments aimed at restoring the UK’s fiscal credibility and boosting long-term productivity. Against a backdrop of weak growth and rising debt, Reeves outlined measures to rein in public spending, drive efficiency across government departments and invest in critical […]
Chancellor Rachel Reeves has pledged £3.25 billion to public service reform in her spring statement, placing artificial intelligence (AI) and cutting-edge technology at the heart of government efforts to boost productivity, modernise operations, and support long-term economic growth. The investment comes amid a challenging economic backdrop, with the Office for Budget Responsibility recently halving its […]