Britain’s biggest supermarkets are pumping hundreds of millions of pounds into promotional deals as competition in the grocery sector heats up amid ongoing cost of living pressures. Almost 30 per cent of supermarket spending was on special offers and discounts in the four weeks to 20 April, according to figures from market research group Kantar. […]
President Trump is preparing to soften the blow of his new car tariffs by introducing measures that would prevent stacking duties and offer partial reimbursements to US carmakers for imported parts. The car tariffs, which came into effect on April 3 and are set to extend to car parts on May 3, had sparked concern […]
Airbus has finalised a major deal to acquire parts of Spirit AeroSystems’ UK business, including the historic Short Brothers factory in Belfast and key operations in Prestwick, as it moves to secure critical components for its aircraft production lines. The agreement follows Boeing’s $4.7 billion takeover of Spirit last year, a move aimed at reinforcing […]
Small businesses in the North East of England are preparing to showcase their products and services to buyers from across the globe, as the government’s “Made in the UK, Sold to the World” export roadshow kicks off this week in Blyth, Northumberland. The event, the first of eight planned across the UK, will see nearly […]
More than a quarter of UK workers are worried that artificial intelligence could lead to job losses, according to new research that has prompted calls for businesses to adopt clear policies on AI use and maintain open communication with staff. A survey conducted by Acas—the public body advising on workplace relations—found that 26 per cent […]
US Treasury Secretary Scott Bessent has launched a scathing attack on the International Monetary Fund (IMF), accusing the institution of turning a blind eye to China’s export-led economic dominance and neglecting its core responsibilities in favour of climate and social policy work. In a high-profile speech at the Institute of International Finance in Washington, Bessent […]
Bank of England governor Andrew Bailey has acknowledged that the United States “has a point” in criticising global trade imbalances, lending support to concerns raised by the Trump administration as the UK grapples with the economic fallout of rising tariffs and geopolitical uncertainty. Speaking at an event hosted by the Institute of International Finance in […]
Inheritance tax (IHT) receipts have hit a record high of £8.2 billion in the 2024-25 tax year, as rising asset values and long-frozen thresholds continue to draw more families into the tax net—even before major upcoming changes that will extend liability to pensions and farmland. New figures from HM Revenue & Customs show a significant […]
Chancellor Rachel Reeves has pledged to review a controversial tax loophole that allows low-value goods from Chinese e-commerce giants such as Shein and Temu to enter the UK without paying customs duties—a move aimed at protecting British retailers from unfair competition and goods being “dumped” on the high street. The scheme, known as the “de […]
Chancellor Rachel Reeves has ruled out any lowering of UK import standards on food and vehicles, including chlorinated chicken, hormone-treated beef and US-made trucks, as trade talks with the Trump administration enter a critical phase. Speaking ahead of her first official meeting with US economic officials in Washington this week, Reeves made it clear that […]