Guild Esports, the David Beckham-backed gaming group, is teetering on the brink of collapse less than four years after its high-profile listing on the London Stock Exchange. The company, which competes in video game tournaments for titles like Fortnite and Tekken, has warned shareholders of its dire financial straits, with only £25,000 left in its […]
The Bank of England has reduced interest rates for the first time in over four years, providing much-needed relief to millions of homeowners and families still grappling with the high cost of living. In a closely contested decision announced at midday, the nine-member Monetary Policy Committee (MPC) voted 5-4 to lower the base rate by […]
The Prince’s Trust, in collaboration with Solutions Research and supported by Cognizant, has released a new report highlighting a growing ‘digital skills crisis’ among UK youth. According to the findings, over one-third (37 per cent) of young people are concerned they lack the digital skills necessary for securing a good job. Additionally, more than two […]
The UK government’s ChipStart programme has enabled semiconductor start-ups to secure over £10 million in private investment and grants, with nearly £20 million in total commitments. This initiative is fostering innovation in various fields, from AI efficiency to advanced healthcare technologies. Eleven semiconductor start-ups have joined the second cohort of ChipStart, a programme launched in […]
The government has announced that from January 1, VAT will be charged on private school fees, and parents will not be able to avoid the tax by paying in advance. The new tax will apply immediately to any fees for the school term beginning January 2025, preventing parents from circumventing the additional cost by paying […]
Hundreds of postmasters who were wrongfully prosecuted based on faulty information from the Horizon IT system will be entitled to unlimited compensation, as announced on Tuesday. Approximately 900 Post Office branch owners will receive financial redress of at least £600,000 under a new scheme following legislation that quashed their convictions earlier this year. The government […]
Rachel Reeves will eliminate winter fuel payments for 10 million pensioners to help fund substantial public sector pay increases. The Chancellor announced plans to save £5.5bn this year, addressing a £22bn shortfall in public finances left by the previous government. The majority of the savings will fund a £9.4bn pay settlement for public sector workers, […]
The North Sea is approaching “game over territory” after Rachel Reeves pushed forward with an expanded tax raid on oil and gas companies. On Monday, the Chancellor followed through on Labour’s election pledge to impose harsher taxes on oil companies by increasing the energy profits levy. Reeves announced that the levy, initially introduced by the […]
The Farnborough International Airshow 2024 has announced deals worth at least £13 billion to the UK, according to the ADS Group, the UK trade association for the aerospace, defence, security, and space sectors. By Thursday evening, the total value of deals, estimated by the ADS Group to be £81.5 billion, highlights the industry’s “confidence, resilience, […]
Chancellor Rachel Reeves is preparing to disclose a £19bn shortfall in the public finances, laying the groundwork for an anticipated autumn tax increase. This announcement comes as she assesses the fiscal challenges inherited from the previous Conservative administration. According to Whitehall sources, an early audit has identified approximately £19bn in “excess pressures” for the 2024-25 […]