Nearly 600 hospitality jobs have been lost following the rescue of the Revel Collective, after administrators confirmed the closure of 21 bars across the UK. Around 590 roles have been cut after the group, which trades under the Revolution Bars and Revolución de Cuba brands, fell into administration, with the remainder of the business sold off in a break-up deal. Administrators FTI Consulting said the closures were unavoidable given sustained pressure on trading. They cited...
Sterling has surged to $1.38 against the US dollar, its strongest level since October 2021, as a combination of US economic disruption, shifting interest rate expectations and geopolitical uncertainty weakens the greenback. Currency analysts said the move has been driven more by dollar softness than by a sudden strengthening of the pound, creating what some describe as a rare buying opportunity for consumers and businesses needing US currency. The rally follows heavy snowfall and ice...
UK businesses remained under intense financial pressure throughout 2025, with more than 28,000 insolvency-related activities recorded over the year, underlining the fragile state of the operating environment despite easing inflation. New figures from R3, the trade association for restructuring and insolvency professionals, show there were 28,616 corporate insolvency activities in 2025. While this was slightly lower than the 29,366 cases recorded in 2024, the total remains well above pre-pandemic levels. R3 said the data points...
Small British defence companies are set to gain easier access to Ministry of Defence contracts after the government launched a dedicated unit to simplify procurement and boost spending with smaller suppliers. The Ministry of Defence has unveiled the Defence Office for Small Business Growth, a new service designed to cut through what ministers describe as labyrinthine procurement processes that have historically shut small and medium-sized enterprises (SMEs) out of the defence market. Announcing the initiative,...
Peers have warned that the government’s proposed inheritance tax reforms covering pensions could place an unrealistic and potentially unmanageable burden on personal representatives, creating widespread delays, cashflow pressures and legal risk for those administering estates. In a report published today, the House of Lords Economic Affairs Finance Bill Sub-Committee examined the tax administration and practical implications of measures in the government’s Draft Finance Bill 2025–26. The inquiry focused on changes to the inheritance tax (IHT)...
The Transport Committee has called on the Government to seize “once-in-a-generation” opportunities to secure the future skills pipeline for the UK’s transport manufacturing sector, amid mounting shortages and the rapid shift to cleaner technologies. In a new report published today, MPs warn that manufacturers across aerospace, automotive, rail and maritime industries are struggling to access the skilled workforce they need at a time when the transition to net zero and advanced engineering is fundamentally reshaping...
Harlow Payments was founded in 2024 by a leadership team that had already spent decades inside the payments industry. Before Harlow, its founders and executives helped build and scale EVO Payments, a global processor that was later acquired by Global Payments for $4 billion. That experience shaped how they think about payments, growth, and responsibility. Rather than chasing hype, Harlow was created to fix what its leadership had seen break over time. Layers of bureaucracy....
Zeus Sleep Ltd has been awarded £1.48 million in funding from the National Institute for Health and Care Research (NIHR) to lead one of the UK’s largest multi-centre clinical trials into Obstructive Sleep Apnoea (OSA). The trial will be led by Guy’s and St Thomas’ NHS Foundation Trust in partnership with King’s College London, and will evaluate a next-generation, non-invasive medical device designed to address sleep apnoea by stimulating the airway at the source. The...
India and the European Union have announced a landmark trade agreement, ending nearly 20 years of stop-start negotiations as both sides seek to deepen economic ties amid rising global trade tensions. “This is the mother of all deals,” said Ursula von der Leyen at a briefing in Delhi, while Narendra Modi described the pact as “historic”. The agreement will enable free trade in goods between the EU’s 27 member states and the world’s most populous...
Nearly 50 Labour MPs have written to the chancellor calling for an immediate halt to a planned rise in business rates for music venues, warning that the revaluation could push many spaces to the brink of closure. In a letter seen by the BBC, the MPs urged Rachel Reeves to pause the revaluation due to take effect from April, arguing that it could drive increases in music venues’ business rates bills of between 45 per...
