Business Secretary Jonathan Reynolds is set to meet JCB chief executive Graeme Macdonald after the company raised urgent concerns about the impact of new US tariffs on British goods. Hundreds of UK-made products containing steel or aluminium became subject to American levies over the weekend, with JCB among the manufacturers warning that the move has triggered significant disruption. Mr Macdonald told the Sunday Times there was “chaos at the US ports right now” as goods...
Almost half of MPs would support cutting electricity levies to help households switch to heat pumps, according to a new cross-party study that highlights both momentum for clean energy reform and a lack of awareness about existing government incentives. The survey of 111 MPs, conducted by Savanta on behalf of clean energy tech firm Aira, found that 48 per cent of politicians backed removing levies from electricity bills to make heat pumps a more affordable...
Sir Chris Hohn, Britain’s most generous philanthropist, has slammed government cuts to overseas aid as “cruel” after donating an additional $328 million (£243 million) of his personal wealth to help fill the gap. The billionaire hedge fund manager, 58, made the contribution to his Children’s Investment Fund Foundation (CIFF) in 2024, supplementing the $595 million invested by the charity from its $6.1 billion endowment. In total, CIFF committed $923 million to global projects last year....
Chancellor Rachel Reeves has come under fire from financial advisers after reports suggested she may target tax-free family gifts in her latest inheritance tax (IHT) reforms. Wealth managers and planners have branded the proposal “daft” and a “blatant tax grab” that risks punishing grandparents who financially support their children and grandchildren. At present, individuals can give up to £3,000 a year in gifts tax-free, with additional exemptions for weddings and small gifts of up to...
Aldi has become the unlikely star of the US grocery sector, with Americans flocking to the German discounter in record numbers as high inflation reshapes shopping habits. Queues for new product releases – once associated with sneaker drops and tech launches – are now a familiar sight outside Aldi stores across the Midwest and beyond. From wine bottle advent calendars to limited-edition snacks, shoppers say the chain has built a cult-like following while positioning itself...
Food inflation has risen to its highest level in 18 months, driven by sharp increases in the cost of chocolate, butter and eggs. The British Retail Consortium (BRC) and NIQ’s Shop Price Monitor reported that food prices rose by 4.2 per cent in August, up from 3.5 per cent in July, marking the fastest pace of growth since February 2024. Fresh food prices climbed to 4.1 per cent from 3.2 per cent the previous month,...
The number of entry-level jobs in the UK has slumped to its lowest level in five years, with young workers facing growing barriers to starting their careers as rising costs and Labour’s tax policies bite. According to the latest UK job market report from recruitment platform Adzuna, graduate roles, apprenticeships and other junior positions fell by 6.8 per cent in July to 209,778. Entry-level vacancies now account for just 21.9 per cent of all UK...
Starling Bank has completed its first acquisition in four years with the purchase of Ember, a London-based fintech specialising in digital tax and accounting software for small businesses. The deal, subject to final closing conditions, will see Ember’s HMRC-recognised tax and bookkeeping tools integrated directly into Starling’s mobile app and online banking platform by the end of 2025. The move comes ahead of HMRC’s Making Tax Digital deadline in April 2026, which will require sole...
Oxford University spin-out OrganOx, the pioneering transplant technology company, has been sold to Japanese medical devices group Terumo in a $1.5 billion (£1.2 billion) deal. The acquisition, one of the largest ever for a UK medical technology business, underscores Britain’s strength in scientific innovation but will also intensify debate about the country’s ability to retain ownership of its most successful spin-outs. OrganOx was founded in 2008 by professors Constantin Coussios and Peter Friend, who developed...
Britain’s nightlife is shrinking at an alarming pace, with large parts of the country turning into cultural “deserts” as pubs, clubs and music venues shut their doors. Fresh research by the Night Time Industries Association (NTIA) and NIQ shows that more than one in four towns and cities now have no nightclub at all, while 16 per cent have lost all late-night venues. Since March 2020, Britain has lost over a quarter (26.4 per cent)...
