The UK’s economic growth forecast has been downgraded by the Organisation for Economic Cooperation and Development (OECD), which has urged global leaders to de-escalate rising trade tensions. According to the OECD’s latest projections, the UK’s GDP growth is expected to reach 1.4 per cent this year—0.3 percentage points lower than previously forecast—while 2026 growth has…
Recruiters have reported a marked increase in vacancies for construction jobs across the UK, indicating a tentative rebound in activity in a sector that has recently endured sluggish growth. According to the latest figures from the Recruitment and Employment Confederation (REC) and data firm Lightcast, the number of advertised positions surpassed 1.5 million in February—slightly…
Millions of motorists are poised to receive payouts without having to file a claim, under plans being drawn up by the Financial Conduct Authority (FCA) to address the car finance mis-selling scandal. The watchdog aims to introduce an industry-wide redress scheme obliging banks to identify and compensate affected customers directly, cutting out claims management companies…
Large firms are once again pouring resources into cutting-edge product and service development, according to Frazer Bennett, global head of innovation at PA Consulting. After two years of focusing on cost control, many of the company’s corporate clients are re-engaging with projects designed to fuel growth, Bennett told Business Matters. “Our pipeline for work in…
In a move that heightens the prospect of another trade war across the Atlantic, Donald Trump has vowed to impose a 200 per cent tariff on wine, champagne and other alcoholic products from the European Union unless the bloc immediately lifts its planned surcharge on American whiskey. The European Commission announced that it intends to…
The British government has not ruled out imposing its own tariffs on the United States after President Trump’s decision to levy a 25 per cent duty on steel and aluminium imports. James Murray, Exchequer Secretary to the Treasury, stressed that Britain must remain “cool-headed,” yet warned that “all options are on the table.” In contrast…
President Trump’s 25% tariffs on steel and steel derivative products have come into force today, delivering a significant blow to British steelmakers and their US customers. With no exemptions granted to the UK or other trading partners, industry leaders warn of a damaging ripple effect as diverted steel trade enters markets like Britain. Further reciprocal…
Almost one fifth of mid-sized British businesses have not improved the ethnic diversity of their boards, according to the government-backed Parker review. While many listed firms have taken strides to meet voluntary targets, the new report reveals that 46 FTSE 250 companies—facing a December deadline to appoint at least one non-white director—either missed the goal…
Spanish energy giant Iberdrola has urged Shadow Chancellor Rachel Reeves to reconsider her party’s plans to introduce regional electricity pricing, arguing it could jeopardise billions of pounds of investment in British wind farms. The proposal, championed by Ed Miliband, the Energy Secretary, would replace the national electricity price with a series of regional tariffs determined…
Bernie Ecclestone has achieved a record-breaking sale with the disposal of his renowned fleet of historic grand prix and Formula One cars, believed to be worth around half a billion pounds. The 94-year-old former Formula One supremo, who amassed these vehicles over five decades, sold the entire 69-car collection to Mark Mateschitz, son of the…
In a determined effort to retain Nissan’s manufacturing presence in Britain, Business Secretary Jonathan Reynolds has vowed to implement “substantial change” to the country’s electric vehicle (EV) sales targets. Speaking during a visit to Nissan’s sprawling headquarters on the outskirts of Tokyo, Mr Reynolds assured senior executives that the Government was prepared to revise the…
The ongoing trade tussle between the United States and Canada, sparked by President Trump’s tariffs on Canadian goods, is poised to shake up North America’s drinks market. Ontario’s Liquor Control Board (LCBO), which typically stocks nearly £570 million (CA$1 billion) of American-made beverages each year, has begun removing US products in retaliation against Washington’s 25…
UK service businesses have cut employment for the fifth successive month, according to the final S&P Global purchasing managers’ index (PMI) for February. The survey’s data highlight what economists describe as a “loss of growth momentum” since the autumn budget, with some firms citing the Chancellor’s £25 billion increase in employers’ national insurance as a…
The UK business landscape is dynamic and ever evolving and presents a unique set of both challenges and incredible opportunities for entrepreneurs and business leaders. In recent years, factors such as Brexit, the COVID-19 pandemic, and the global economic downturn created significant uncertainty and disruption. But amidst these challenges, we also enjoyed significant opportunities for…
Europe risks falling further behind global rivals in the rollout of 5G networks, warns Margherita Della Valle, Vodafone’s chief executive. While Europe once led the world in 2G, it is now trailing not only the United States and China but also numerous emerging economies. Della Valle believes that regulators’ emphasis on low consumer prices has…
