Business

Polaron, a spin-out from Imperial College London, has developed a groundbreaking AI solution that reduces the time needed to create advanced materials—from years to mere days. This innovation could transform the production of materials used in wind turbines, electric vehicle batteries, and infrastructure, supporting the UK’s push for economic growth and net-zero targets. Polaron’s AI technology analyses microstructural images—microscopic features of a material visible under a microscope—to rapidly predict how materials will perform. By enabling...

Renovating a commercial property is one of the most effective ways to increase property value while making it more appealing to tenants and investors. With commercial property prices in England forecast to rise by 19.15% between 2024 and 2034 (from £94 to £112 per square foot) owners and investors have a prime opportunity to enhance their assets. Strategic renovations can further increase property value, making buildings more competitive in a growing market. A well-planned commercial...

Santander has announced plans to close 95 branches across the UK, putting around 750 jobs at risk as the bank continues to downsize its physical presence in response to changing customer habits. The latest round of closures will see Santander’s branch network shrink from 444 to 290 full-service branches, alongside five Work Cafés—co-working spaces designed to provide banking services and support for local businesses. The bank will also introduce new counter-free locations and reduced opening...

London’s black cab industry is at risk of disappearing entirely by 2045 if current trends continue, according to a new report by Centre for London. The research highlights a dramatic decline in the number of taxis on the capital’s roads and warns that urgent intervention is needed from the government, the Mayor of London, and Transport for London (TfL) to prevent the trade from vanishing. The number of licensed black cabs has fallen by more...

HM Revenue & Customs (HMRC) has significantly increased the number of Research and Development (R&D) tax relief claims it has “corrected” using controversial powers, sparking concerns that the tax authority is bypassing due process. New data obtained by accountancy firm Price Bailey through a Freedom of Information request reveals that HMRC’s Fraud Investigation Service (FIS) amended 2,440 claims for R&D corporation tax relief in 2024 (as of 12 November)—a nearly fourfold increase from 670 claims...

Elon Musk’s Starlink internet service has been installed at the White House, raising fresh concerns over potential conflicts of interest as the billionaire’s influence within the Trump administration continues to grow. The New York Times reported that Starlink was introduced to “improve WiFi connectivity” at the White House complex, according to press secretary Karoline Leavitt. However, the installation led to a security alert when Christopher Stanley, a Musk employee, triggered an alarm while accessing the...

AstraZeneca abandoned plans for a £450 million expansion of its vaccine site in northwest England after the UK government failed to meet a critical funding deadline, the company’s UK chairman has told MPs. The FTSE 100 pharmaceutical company’s decision to withdraw its investment in the Speke, Liverpool site in January sparked political controversy, as the government seeks to attract private sector funding to revitalise Britain’s sluggish economy. Speaking to the Commons business and trade select...

Rachel Reeves is under pressure to ramp up government spending on research and development (R&D) to £30 billion by the end of the decade, as business leaders warn that the UK risks falling behind global innovation powerhouses. The Confederation of British Industry (CBI) is calling on the chancellor to set an “ambitious and world-leading goal” of increasing R&D spending to 3.4% of GDP by 2030—equivalent to an additional £10 billion in funding. The business lobby...

As the Spring Statement approaches, the UK’s small and medium-sized businesses (SMEs) are holding off on major investment decisions, despite strong ambitions for growth. New research from independent funder Bibby Financial Services (BFS) shows that 87% of SMEs plan to invest this year, with two-thirds (66%) expecting sales to rise over the next six months. However, economic uncertainty surrounding the Chancellor’s speech on 26 March is leading many to adopt a wait-and-see approach. Nearly half...

Donald Trump’s threat to impose a 200% tariff on wine and champagne imports from the European Union could provide an unexpected boost for English sparkling wine, as US importers look for alternatives to French champagne. Hugo Stewart, a winemaker based in Wiltshire, had been considering cancelling a planned tasting trip to the United States but is now reconsidering after Trump’s announcement. “Maybe there’s an opportunity for us to replace some of the champagne,” he said....