London taxi fares are set to rise after the government moved to close a long-standing VAT loophole used by ride-hailing platforms, a decision expected to raise around £700 million a year for the Exchequer. The change, announced by Chancellor Rachel Reeves in November’s Budget, will hit companies such as Uber and Bolt, which have previously used a tax scheme intended for tour operators to reduce their VAT bills. Ministers argue the move will level the...
Ikea is accelerating its shift towards smaller city-centre stores in Britain, as rising property taxes and changing shopping habits blunt the appeal of traditional out-of-town megastores. Peter Jelkeby, the outgoing chief executive of Ikea UK and Ireland, said the Swedish retailer would focus future expansion on compact urban formats after strong trading at its new Oxford Street flagship and central Brighton store. The strategy represents a clear move away from Ikea’s historic “big box” warehouse...
The ambition to turn the Oxford–Cambridge corridor into “Europe’s Silicon Valley” is in danger of stalling unless the government accelerates delivery of long-promised infrastructure, business leaders have warned. A coalition of major companies, universities and investors has written to Rachel Reeves urging faster progress on transport and planning commitments for the so-called OxCam supercluster, amid growing concern that delays to the East West Rail project are undermining investor confidence. The warning comes in a report...
Beyoncé has officially become a billionaire, according to Forbes, cementing her status as one of the most commercially successful musicians of all time. The American superstar is now the fifth musician to be recognised by Forbes as having amassed a ten-figure fortune, joining an elite group that includes Taylor Swift, Rihanna, Bruce Springsteen, and her husband Jay-Z, whose net worth Forbes estimates at $2.5bn (£1.85bn). Earlier this month, Forbes valued Beyoncé at $800m (£593m), but...
The upmarket fashion retailer LK Bennett is on the brink of collapse for the second time in six years after filing an application to appoint administrators. Court filings show the business submitted papers to the High Court on Tuesday, signalling that efforts to secure fresh funding or a buyer may have failed. The move puts around 280 jobs at risk across the group. Founded in 1990 by Linda Bennett, LK Bennett became synonymous with polished British...
The UK motor finance arm of Mercedes-Benz has plunged into a £365 million loss after setting aside hundreds of millions of pounds to cover potential compensation linked to the mis-selling of car loans. Accounts filed for Mercedes-Benz Financial Services UK, based in Milton Keynes, show the business swung to a £364.6 million loss in 2024, compared with a £69.6 million profit the previous year, after booking additional charges related to improperly disclosed commission arrangements. The...
UK ministers are facing renewed pressure to tighten restrictions on gambling advertising, after new polling revealed strong public support for a far tougher approach to promotions and sponsorship. Gambling regulation has been the subject of increasingly heated debate in recent years, with governments introducing tighter controls on online slots, higher industry taxes and a statutory levy to fund addiction treatment. However, advertising rules have remained largely untouched, despite the scale of promotional activity rising sharply...
As 2026 approaches, more and more cryptocurrency users are no longer waiting for price surges, but instead turning to models that offer visible daily returns. At CryptoMiningFirm, multi-currency cloud mining is now running at scale. By running BTC, XRP, ETH, and DOGE simultaneously, some active high-hashrate contracts can generate up to $9,000 worth of real profits in BTC, XRP, ETH, DOGE, and other cryptocurrencies daily. These are not projections or market assumptions — they are...
Britain’s broadcasting regulator is under mounting pressure to investigate a GB News interview with Donald Trump, after critics claimed the channel failed to challenge a series of misleading and inaccurate assertions made by the US president. The interview, aired in November and billed by GB News as a “world exclusive sit-down”, featured Trump repeating long-disputed claims that human-induced climate change is “a hoax”, alongside assertions that London contains police “no-go areas” governed by “sharia law”....
A lack of commercial understanding inside government is making it harder for companies to operate and is actively holding back economic growth, according to the boss of Iceland. Richard Walker, executive chairman of the frozen food retailer and a newly appointed Labour peer, has warned that too many politicians fail to grasp how businesses actually function — particularly those operating on tight margins and employing thousands of people across the country. “I’ve met a lot...
