Strava, the fitness tracking app that has become a lockdown staple for millions of runners and cyclists, has confirmed a new valuation of $2.2 billion following its recent acquisition of Runna, a UK-based running coaching platform. The deal, announced in April and completed on Thursday, marks a major step in Strava’s push to deepen its presence in both the running space and the UK tech ecosystem. This is the first time Strava has disclosed its...
The UK government is considering selling the Sevington border control post in Kent, a facility built for post-Brexit customs checks, following this week’s UK-EU trade pact that could render dozens of similar sites redundant. Constructed in 2021 at a cost of tens of millions, the Sevington site near Ashford was designed to process up to 1,300 lorries per day, primarily for sanitary and phytosanitary (SPS) checks on products like meat, dairy, and plant-based goods. However,...
Gresham House Ventures has led a £3.9 million investment round in digital workplace pension provider Penfold, backing the fintech’s continued expansion in the UK SME and accountancy markets. The round also included participation from existing investors. Penfold offers a fully digital workplace pension platform, enabling businesses to sign up or switch providers in just minutes — a sharp contrast to the cumbersome processes often associated with legacy pension schemes. The company has seen rapid growth,...
Public sector borrowing in the UK surged past expectations last month, hitting £20.2 billion, as higher spending on public services and increased benefit payments drove up government outlays. The figure, released by the Office for National Statistics (ONS), came in significantly above the £17.9 billion forecast by economists and surpasses the £19.2 billion recorded in April 2024, marking a fresh fiscal challenge for Chancellor Rachel Reeves ahead of next month’s crucial spending review. The UK’s...
The long-awaited reunion of British rock icons Oasis is not just a cultural milestone — it’s shaping up to be a major economic event. According to new research from Novuna Personal Finance, the Oasis Live ’25 tour is expected to generate over £940 million in fan spending across 17 shows in London, Manchester, Cardiff, and Edinburgh between July and September 2025. Almost 1.4 million fans are anticipated to attend the tour, spending an average of...
OpenAI has announced a major strategic move to accelerate its expansion into hardware, with the acquisition of io, the San Francisco-based tech start-up founded by Sir Jony Ive, the former chief design officer at Apple. The merger, valued at $6.5 billion (£4.8 billion), will bring together Ive’s team of engineers, product developers and designers under the OpenAI umbrella. The deal marks a significant turning point in OpenAI’s ambitions beyond software and chatbots, as it looks...
HSBC has told thousands of UK employees that their pay could be cut if they fail to meet new in-office attendance requirements, as the bank steps up efforts to tighten its hybrid working policy. In a memo sent to employees in its UK high street and commercial banking division, which employs around 24,000 people, the FTSE 100 bank said that “consistently not meeting 60 per cent office attendance will be considered in an individual’s overall...
Uber has launched a new on-demand delivery service called Courier, designed to help individuals and small businesses across the UK handle everyday errands and deliveries with ease. The service, now live in nine cities and set to expand to 20 by the end of the summer, is the latest move by Uber to diversify beyond rides and food delivery. Courier is integrated directly into the Uber app, offering a simple and seamless experience for users...
Bitcoin (BTC) has reached a new all-time high, briefly touching $111,000, as a confluence of macroeconomic factors and growing institutional interest propels the cryptocurrency into uncharted territory. The landmark moment follows a break above $109,000, capping a sustained rally that underscores rising investor confidence and renewed momentum in digital assets. The surge is being attributed to a combination of global market stabilisation, supportive policy signals, and continued capital flows into crypto from institutional players. At...
Reverse logistics manages product returns, refurbishments, recycling, and waste reduction. It’s not just about fixing mistakes; it’s a strategy to recover value, satisfy customers, and promote sustainability. Businesses that embrace reverse logistics can reduce costs and boost their competitive edge. So, business owners should undoubtedly care about it. What Is Reverse Logistics? First things first: Reverse logistics involves managing the flow of goods moving backwards in the supply chain. Unlike traditional logistics, which focuses on...
