Business

The government will create a new cross-department Future of Work Unit, expand its ambition to upskill 10 million workers in AI by 2030, and invest £27 million in a new TechLocal programme aimed at entry-level tech roles, the Science and Technology Secretary has announced. Delivering her first major speech on artificial intelligence at Bloomberg on Wednesday, Liz Kendall set out how the government intends to position Britain to “win for Britain on AI”, while supporting...

Almost £162 billion of British exports are at heightened risk because UK firms are shipping goods to markets where collecting payment is most difficult, according to new analysis. Research from Allianz Trade shows that nearly a quarter (24%) of all UK exports are destined for three countries, the United States, China and India, which pose the greatest challenges for debt collection among the UK’s top 20 export markets. Together, exports to these three destinations account...

Litestream Ventures recorded $78.1 million (£61.5m) in non-binding investor pledges during World Economic Forum week in Davos, after hosting its fourth annual Family Office & Venture Capital Forum. The closed-door event, held during the World Economic Forum, brought together more than 120 investors, founders, venture funds and philanthropic partners. Pledges were signalled in support of 12 companies focused on addressing major global challenges, alongside backing for the charitable initiative Star for Life. The pledges were...

Modern Milkman has secured a £10 million investment to accelerate growth across the UK, expand its US footprint and develop new sustainable doorstep services, taking its total funding to more than £60 million. The Manchester-based business said the funding will support the continued evolution of its doorstep delivery model, as it builds out a broader logistics platform designed to make sustainable grocery shopping easier and more convenient for households. The investment comes from Salica Investments,...

Disappointing full-year results from LVMH suggest that the global luxury sector is facing more than a short-term slowdown, with challenges likely to persist into 2026, according to new analysis. Commenting on the figures for the year ending 31 December 2025, Sharon Iles, senior apparel analyst at GlobalData, said the performance underlined “persistent struggles within the overall luxury market”. LVMH reported a 4.6% fall in full-year revenue to €80.8bn, while fourth-quarter sales declined by 5.1%, marking...

Amazon has announced a further 16,000 job cuts worldwide as it presses ahead with plans to slim down management layers and “remove bureaucracy”, putting an unspecified number of UK roles at risk. The latest round of layoffs follows the elimination of 14,000 white-collar jobs in October and forms part of Amazon’s broader ambition to shed around 30,000 corporate roles. While the majority of the new cuts will fall in the United States, teams in the...

Rogo has opened its first international office in London, marking a major step in the company’s global expansion as demand for enterprise-grade artificial intelligence accelerates across the financial sector. The move positions Rogo in Europe’s leading financial centre, allowing the AI platform to deepen relationships with major European banks, support hands-on deployment of its technology, and tap into London’s finance and technology talent pool. Rogo’s European expansion is underpinned by a $75 million Series C...

Nearly 600 hospitality jobs have been lost following the rescue of the Revel Collective, after administrators confirmed the closure of 21 bars across the UK. Around 590 roles have been cut after the group, which trades under the Revolution Bars and Revolución de Cuba brands, fell into administration, with the remainder of the business sold off in a break-up deal. Administrators FTI Consulting said the closures were unavoidable given sustained pressure on trading. They cited...

Sterling has surged to $1.38 against the US dollar, its strongest level since October 2021, as a combination of US economic disruption, shifting interest rate expectations and geopolitical uncertainty weakens the greenback. Currency analysts said the move has been driven more by dollar softness than by a sudden strengthening of the pound, creating what some describe as a rare buying opportunity for consumers and businesses needing US currency. The rally follows heavy snowfall and ice...

UK businesses remained under intense financial pressure throughout 2025, with more than 28,000 insolvency-related activities recorded over the year, underlining the fragile state of the operating environment despite easing inflation. New figures from R3, the trade association for restructuring and insolvency professionals, show there were 28,616 corporate insolvency activities in 2025. While this was slightly lower than the 29,366 cases recorded in 2024, the total remains well above pre-pandemic levels. R3 said the data points...