Business

The government’s National Wealth Fund (NWF) has pledged up to £200 million to support new battery storage projects across Britain, as part of a £500 million investment package designed to strengthen the country’s clean energy infrastructure. The deal sees the NWF co-invest with Australian pension fund Aware Super and infrastructure investor Equitix in Eelpower, a specialist battery developer. Construction of three new storage projects will begin immediately, with several more expected to receive the green...

The dollar weakened and US borrowing costs jumped after President Donald Trump claimed to have sacked Federal Reserve governor Lisa Cook, escalating his battle with the country’s independent central bank. In a move without precedent in modern US history, Trump said on Tuesday evening that Cook was “effective immediately” removed from her position on the Fed’s seven-strong governing board over allegations of mortgage fraud. Cook has denied wrongdoing and said she would not resign, setting...

Quebrando o modelo tradicional de negociação, o poder da computação em nuvem se tornou o novo queridinho do mercado de criptomoedas. À medida que a concorrência no mercado global de criptomoedas se intensifica, cada vez mais detentores de XRP buscam se libertar do tradicional modelo de lucro de “comprar na baixa e vender na alta”. Em meio às flutuações voláteis do mercado e ao fracasso das estratégias de negociação de curto prazo, uma nova maneira...

The scrapping of VAT-free shopping for international visitors has cost London’s West End £310 million in lost sales during the first half of 2025, according to new research. The figure represents a 40 per cent rise on the £220 million recorded for the same period last year, and is the largest six-month loss since the scheme was abolished by the Conservative government in 2021. Analysis by the New West End Company (NWEC), which represents 600...

Virgin StartUp has launched a first-of-its-kind accelerator programme to help dyslexic entrepreneurs scale their businesses, highlighting the growing economic contribution of founders with Dyslexic Thinking skills. New analysis from global charity Made By Dyslexia shows that dyslexic entrepreneurs contribute at least £4.6 billion to UK GDP every year and support more than 60,000 jobs. The research also suggests that one in three business founders are dyslexic, with skills such as creativity, problem-solving, visualisation and big-picture...

Corporations are spending big on AI. According to IDC, total business investments in generative AI are expected to increase 94% this year to reach $61.9 billion. However, just investing in AI does not guarantee a payoff. In fact, as Laura Clayton McDonnell, President of Corporates at Thomson Reuters explains, new research from McKinsey finds that the vast majority of companies implementing AI have seen no significant bottom-line impact from the technology. These findings are echoed...

Tom Hartley Jnr has announced the successful sale of the extraordinary Mansour Ojjeh McLaren collection, one of the most significant supercar ensembles ever assembled. The collection of 20 McLarens, curated by the late Mansour Ojjeh – the influential shareholder and driving force behind McLaren’s success on and off the track – is considered unrepeatable. Each car represents the final chassis of its respective model, with almost all in unused, factory-fresh condition. At its heart lies...

UK businesses spent as much as £65 million last year on licences to export food and agricultural products to the EU – costs the government has pledged to eliminate within the next 18 months. Figures published by the Department for Environment, Food and Rural Affairs on Tuesday showed 328,727 export licences were issued in 2024, each costing between £113 and £200. That equates to a total burden of between £37 million and £65 million for...

The Trump administration has confirmed that it is reviewing the records of more than 55 million US visa holders in what amounts to one of the most extensive immigration crackdowns in modern American history. In a move first reported by the Associated Press, the State Department said that every foreign national currently holding a valid US visa will be subject to “continuous vetting” for potential ineligibility, including those already living in the country. If violations...

HMRC’s use of artificial intelligence to profile people’s social media activity will increase tax compliance, according to leading audit, tax and business advisory firm Blick Rothenberg. Fiona Fernie, a partner at the firm, said that HMRC’s CONNECT system has been deploying advanced analytics since the early 2000s to spot underpaid tax. “CONNECT uses (and has always used) advanced analytics such as pattern recognition, predictive modelling, and machine learning, which are all forms of AI. Social...