Business

A turnaround investment group linked to Hobbycraft’s recent acquisition has stepped in to save Crafter’s Companion, the loss-making crafting company founded by Dragons’ Den panellist Sara Davies. The business has been bought via a swift pre-pack administration for £425,000 by entities controlled by Modella Capital, preserving 134 of 148 jobs but leaving creditors facing significant shortfalls. Crafter’s Companion began life almost 20 years ago in Sara Davies’ York University bedroom. It expanded into an international...

For the first time since 2022, The Royal Ballet School is holding its regional Winter Intensives in London, Manchester, and Edinburgh. The non-selective Intensives will take place in February 2025 and are suitable for dancers of all abilities. There aren’t any auditions, and applicants can secure their places on a first-come-first-served basis. Each Intensive lasts one day, designed to inspire participants with creativity and confidence in a short burst. The Winter Intensives are open to...

HMRC has come under renewed scrutiny after figures showed that over 44,000 callers were abruptly cut off while on hold last year, with some facing wait times of up to 70 minutes. The revelation arrives just as millions of taxpayers prepare to file their returns before the current tax year ends, sparking concerns that phone lines could become even more congested. The tax authority rejected suggestions that it was providing a “deliberately poor” phone service....

Rishi Sunak is set to embark on an academic chapter of his career after securing two high-profile posts at Oxford and Stanford universities. The former prime minister announced he will be joining the Blavatnik School of Government’s “world leaders circle” in Oxford, as well as taking up a visiting fellowship at Stanford’s Hoover Institution in California. Sunak, who studied philosophy, politics and economics at Oxford before completing an MBA at Stanford, remains Conservative MP for...

Rachel Reeves, the Chancellor, has signalled that economic growth must take precedence over net zero goals, creating a likely rift with Energy Secretary Ed Miliband and senior Labour figures who remain opposed to expanding the UK’s biggest airports. Speaking at the World Economic Forum in Davos, Reeves insisted that “the answer can’t always be no” to major infrastructure projects, as she outlined Treasury support for controversial plans to build a third runway at Heathrow and...

Meta, the parent company of Facebook, Instagram and WhatsApp, has sought to calm key advertisers following its decision to scrap third-party fact-checking in the United States. Senior executives led by Nicola Mendelsohn, Meta’s head of global business, have held a series of meetings over recent days to address concerns about brand safety and content moderation. Mark Zuckerberg, Meta’s founder, earlier this month announced an end to the platform’s long-standing US fact-checking partnership and signalled a...

Britain’s soaring sickness bill has left policymakers and economists scratching their heads, with near-record numbers of workers absent on long-term health grounds costing the public purse more than £65.7 billion a year. Some 2.8 million people now claim incapacity and disability benefits, far above pre-pandemic levels, and the House of Lords’ economic affairs committee has warned that the problem cannot be attributed solely to deteriorating health or NHS delays. Instead, evidence suggests the benefits system...

Rachel Reeves has pledged a root-and-branch review of the UK’s immigration framework, including potential new visa routes for high-skilled workers in AI and life sciences, as part of a wider push to stimulate economic growth. The chancellor revealed that a white paper will be published later this year, announcing the Government’s vision for “Britain to be open for business and open for talent”. Speaking at a breakfast event during the World Economic Forum in Davos,...

The world of online investing has undergone a significant transformation in recent years, driven by technological advancements, regulatory changes, and shifting investor preferences. These developments have democratized access to financial markets, allowing more people than ever to participate in stock trading. From innovative trading platforms to groundbreaking financial technologies, here are some of the major achievements in stock trading shaping the online investing landscape in 2025. Rise of Zero-Commission Trading One of the most significant...

Government borrowing surged by £3.2 billion above expectations in December, with the shortfall reaching £17.8 billion as rising public sector pay, inflation-linked benefits, and a one-off property purchase pushed spending to its highest December level in four years. Official figures from the Office for National Statistics (ONS) revealed the spike in borrowing, up from £11.8 billion in November and outstripping the Office for Budget Responsibility’s (OBR) forecast of £14.6 billion. Higher staff wages, inflation-driven costs...