The deepening car finance crisis could deliver a major blow to Britain’s economic prospects, according to the head of the country’s largest retail bank. Charlie Nunn, chief executive of Lloyds Bank, warned that uncertainty caused by recent court rulings was undermining investor confidence and risking a multi-billion-pound claims storm reminiscent of the PPI scandal. Mr […]
Frasers Group has warned that Rachel Reeves’s budget will cost it at least £50 million next year, likening the impact on retailers to a “punch in the face”. Michael Murray, the chief executive of the British retail group, said the recent fiscal measures will force businesses to cut costs and could hit consumer confidence to […]
More than 80% of UK small businesses are planning growth-focused initiatives for 2025, reflecting increased optimism as enterprises report a two-year high in growth projections, according to a Novuna Business Finance study. Key areas of focus include boosting new business sales (43%) and reducing fixed costs (24%). Diversifying business models and developing new products or […]
The appointment of Tom Hayhoe as the UK’s COVID corruption commissioner has been criticised as unlikely to recover significant taxpayer funds, according to leading audit and advisory firm Blick Rothenberg. Fiona Fernie, a partner at the firm, questioned the value of the role, particularly given the time elapsed since the alleged corruption took place during […]
A government-supported group is being established to represent the UK’s mid-sized businesses, often overlooked despite their significant contribution to the economy. According to a NatWest report, these “unsung” firms could add an additional £115 billion to the UK economy by 2030 with the right support, driving growth particularly in regions outside London and the southeast. […]
In a significant move to bridge the gap between elite sports and entrepreneurship, the International Olympic Committee (IOC) has partnered with Alibaba.com to launch the fourth edition of the Athlete365 Business Accelerator programme. The initiative aims to equip current and former Olympians with the skills and resources needed to transition into successful business ventures. The […]
Luke Johnson, the chairman of Gail’s bakery chain and a prominent entrepreneur, has warned that some of his businesses “might not survive” under Labour’s proposed workers’ rights reforms. Speaking to the Employment Rights Bill committee, Johnson expressed concerns over the additional costs and complexities that the legislation could impose on small and medium-sized enterprises (SMEs). […]
The UK government is committed to kickstarting the nation’s economic growth, but recently released trade figures from HM Revenue & Customs (HMRC) indicate a substantial journey ahead, according to leading audit, tax, and business advisory firm Blick Rothenberg. Simon Sutcliffe, Customs & Excise Duty Partner at the firm, commented: “Trade statistics for 2023, published by […]
First-time homebuyers in some of the UK’s most expensive areas are hurrying to finalise property purchases before April 1, when stamp duty costs are set to rise by an average of £6,300, according to new data from Rightmove. Demand for homes among first-time buyers in London has increased by 3 percentage points since the recent […]
Walmart, the world’s largest retailer, has announced it will no longer consider race and gender policies when awarding supplier contracts after facing pressure from conservative activist Robby Starbuck. The company is rolling back several diversity, equity, and inclusion (DEI) initiatives following criticism that they were harmful to certain groups. As part of the changes, Walmart […]