Chancellor Rachel Reeves’ upcoming visit to China in January for the long-awaited resumption of the UK-China Economic and Financial Dialogue has been hailed as a pivotal opportunity for economic cooperation. However, leading advisory firm Blick Rothenberg has urged her to adopt a pragmatic approach to secure meaningful outcomes for both nations. Winnie Cao, Head of […]
Small businesses in some of Britain’s most disadvantaged areas are poised to benefit from £1 billion in lending, thanks to a government-backed initiative by community-based finance organisations. The British Business Bank (BBB) has launched a £150 million, two-year scheme to bolster community development finance institutions (CDFIs), which lend to businesses turned down by mainstream banks. […]
HMRC has confirmed the settlement of its high-profile IR35 tax case with Gary Lineker, ending a long-running dispute over a £4.9 million tax liability tied to his presenting work with the BBC and BT Sport. The case, initially decided in Lineker’s favour by the First-tier Tribunal (FTT), was set for an Upper Tribunal hearing after […]
The UK may be spared the worst effects of Donald Trump’s proposed tariffs on global goods trade due to its economic reliance on services rather than goods, according to Andrew Bailey, Governor of the Bank of England. Trump has suggested imposing tariffs of up to 60% on Chinese exports to the US and 20% on […]
The UK government is exploring the renationalisation of British Steel in a bid to safeguard thousands of jobs at its Scunthorpe site, amid stalled negotiations with its Chinese owner, Jingye, over a £1 billion investment plan. Business Secretary Jonathan Reynolds is leading discussions with Jingye to determine a funding agreement for the company’s transition to […]
The OECD has significantly upgraded its growth forecast for the UK, crediting Rachel Reeves’s £70 billion-a-year public spending package. The UK economy is now expected to grow by 0.9% in 2024 and 1.7% in 2025, up from May forecasts of 0.4% and 1.0%. However, the Paris-based organisation cautioned that this growth comes at the expense […]
Britain’s top business lobby groups, collectively known as the “B5,” have faced criticism for failing to prevent a significant rise in employer national insurance contributions, announced in Rachel Reeves’ October budget. The £25 billion increase has drawn widespread backlash from businesses, with some questioning the effectiveness of the Confederation of British Industry (CBI), British Chambers […]
The Bank of England has warned that escalating trade wars, geopolitical instability, and mounting global debt levels are amplifying risks to the UK’s financial system. Officials noted the country’s vulnerability due to its “open economy with a large financial sector,” according to the Bank’s latest Financial Stability Report. Andrew Bailey, the Bank’s governor, highlighted the […]
BAE Systems, the UK’s largest defence company, is set to recruit a record 2,400 apprentices, undergraduates, and graduates next year, marking a significant milestone in its ongoing investment in workforce development. This intake will bring the total number of trainees across the FTSE 100 group to 6,500 — approximately 15% of its UK workforce. The […]
Carlos Tavares, chief executive of automotive giant Stellantis, has stepped down with immediate effect following a reported fallout with the group’s chairman, John Elkann. The announcement comes just days after Tavares ordered the closure of Stellantis’ Vauxhall van factory in Luton, placing 1,000 jobs at risk. The decision to shut the Luton plant, attributed to […]