Chancellor Rachel Reeves should use the Autumn Budget to spell out how the government plans to deploy the £2 billion earmarked for the UK’s AI Opportunities Action Plan, according to leading audit, tax and advisory firm Blick Rothenberg. Evelina Panchal, a director at the firm, said businesses urgently needed clarity on how the funding would be allocated, arguing that proper investment planning could unlock transformative gains for the economy. “Research from Microsoft suggests AI represents...
Jeff Bezos is returning to a chief executive role for the first time since leaving Amazon in 2021, launching a new artificial intelligence venture called Project Prometheus — a start-up already reported to have secured $6.2 billion in early-stage funding. According to The New York Times, the new company will be co-led by Bezos and Vik Bajaj, a former senior figure at Google X who worked closely with co-founder Sergey Brin and helped launch the...
UK inflation has eased to 3.6% in the year to October — its lowest level in four months — helped by slower increases in household energy costs and falling hotel prices. However, food inflation picked up again after a brief dip, underlining the ongoing pressure on household finances just a week before the government delivers its highly anticipated Budget. The latest figures from the Office for National Statistics (ONS) show inflation slipping from 3.8% in...
Jet2 chief executive Steve Heapy has urged Chancellor Rachel Reeves to stop using the airline and holiday industry as a “cash cow”, warning that any further increase in aviation taxes will hit lower earners hardest and risk pricing families out of foreign travel. Heapy — who runs Britain’s largest package holiday provider and the UK’s third-biggest airline by passenger numbers — said that higher taxes would “inevitably” be passed on to passengers, pushing up fares...
Hewlett Packard has submitted a final claim of almost $1.8 billion (£1.4 billion) against the estate of Mike Lynch, intensifying one of the longest and most expensive corporate fraud battles in UK legal history. The latest claim is substantially lower than the $5 billion HP originally sought over its ill-fated 2011 acquisition of Autonomy, but still far exceeds the late entrepreneur’s estimated £500 million estate. Lynch, once hailed as Britain’s answer to Bill Gates, died...
Eight companies are under formal investigation by the UK’s Competition and Markets Authority (CMA) over concerns about online pricing tactics, marking the regulator’s first major enforcement action under its strengthened consumer protection powers. The firms — StubHub, Viagogo, AA Driving School, BSM Driving School, Gold’s Gym, Wayfair, Appliances Direct and Marks Electrical — are being examined as part of a wide-ranging review into how businesses display and structure online prices. The CMA is also writing...
Customers of UK banks and building societies will soon benefit from a major increase to the amount of money protected if their bank fails, after regulators confirmed that the Financial Services Compensation Scheme (FSCS) deposit limit will rise from £85,000 to £120,000. The change, announced by the Prudential Regulation Authority (PRA), marks the largest uplift since 2017 and reflects updated inflation data and industry feedback. It will take effect in December, with customers automatically covered...
Carbon3.ai, the UK’s leading sovereign AI infrastructure company, has announced a £1 billion investment to build the country’s first nationwide network of fully sovereign, sustainable AI-ready data centres — a move expected to reshape the UK’s digital resilience, national security and long-term competitiveness in artificial intelligence. The ambitious programme will convert legacy industrial and energy sites into a network of high-performance, low-carbon compute hubs, all designed, owned and operated exclusively within the UK. This ensures...
The UK’s corporate register is expected to shrink significantly over the next year as new identity verification rules for company directors and beneficial owners come into force on Tuesday, according to specialists in corporate transparency and financial crime. From 18 November, all new directors and persons with significant control (PSCs) must verify their identity with Companies House before they can form or run a company. Existing directors and PSCs will be phased into the system...
If you live in an older home, chances are you’ve heard of a back boiler. These were popular heating systems installed behind fireplaces. They provided hot water and heating by burning gas or solid fuel. But today, back boilers are outdated, inefficient, and even unsafe. So, if you still have one, you might be thinking about replacing it. But how much does it cost to replace a back boiler? The answer isn’t simple. Several factors...
