Business

The UK government has withdrawn its backing for a $1.15bn (£870m) loan to a major gas development in Mozambique, citing escalating concerns over climate impact, human rights violations and the deadly insurgency that engulfed the region. Business secretary Peter Kyle confirmed on Monday that the UK Export Finance (UKEF) agency would pull its support for the long-delayed Mozambique liquified natural gas project, led by French energy giant TotalEnergies. The decision comes five years after the...

Cannumo, the Lithuanian wellness start-up behind the live-bacteria drink Goodie, has secured a record-breaking €1 million investment on Shark Tank Lithuania — the largest deal ever reported on any European business reality show. The investment came from entrepreneur Tadas Burgaila, co-founder of the Kilo Group and founder of accelerator Lost Astronaut. Burgaila committed €600,000 for a 20% equity stake, alongside €400,000 in loan financing, marking a milestone for both Lithuania’s start-up sector and the broader...

Prime Minister Keir Starmer has denied accusations that Chancellor Rachel Reeves misled the cabinet or the public over the state of the public finances ahead of last week’s Budget, after a fresh row erupted between the Treasury and the Office for Budget Responsibility (OBR). Speaking at a nursery in London, Starmer defended Reeves’ tax rises and her decision to scrap the two-child benefit cap, despite weeks of speculation over possible income tax hikes. He insisted...

Borough Broth, the fast-growing bone broth brand backed by Duncan Jones, has secured £7.5 million in new investment to support a major expansion, as demand for natural and minimally processed foods continues to soar. The funding comes from Piper, the consumer-focused private equity firm known for backing brands such as Ancient + Brave and luxury candle maker Neom. The deal gives Piper a one-third stake, valuing Borough Broth at £19.5 million. Founder Ros Heathcote, a...

Fears over the strength of the UK economy appear to have kept shoppers away from high streets on Black Friday, adding to growing evidence that consumer caution will weigh heavily on growth into 2026. Footfall across all shopping destinations fell by 2% on Friday and was 7.2% lower than the equivalent days last year, according to data from monitoring firm MRI Software. Only locations close to central London offices bucked the trend, seeing a slight...

The UK government is preparing to sign a major pharmaceuticals agreement with Washington that will remove import tariffs on medicines entering the United States and commit Britain to higher spending on NHS drugs. The deal, expected to be announced within days, follows months of tense negotiations with the Trump administration and comes after a wave of warnings and pulled investments from multinational drug makers frustrated with the UK’s commercial environment. According to industry sources, the...

Chancellor Rachel Reeves’ assertion that the Autumn Budget delivers the “lowest tax rates since 1991” for more than 750,000 retail, hospitality and leisure properties has been called into question after detailed analysis revealed that most high-street premises will in fact face significantly higher business-rates multipliers next year. Reeves told MPs that she was introducing the lowest tax rates in over three decades, using the phrase “tax rates” in the plural. However, the claim hinges entirely...

The proportion of women studying computing degrees in the UK has risen to 25 per cent for the first time, according to new analysis of Higher Education Statistics Agency (HESA) data by online lab-hosting platform Go Deploy. The study, which examined gender representation across five years of IT, engineering and technology degrees, highlights slow but steady progress in efforts to diversify the UK’s tech talent pipeline. Yet the figures also underline how far the sector...

For most investors, private equity and venture capital appear similar at first glance: both operate in private markets, both target high-return opportunities, and both demand long-term commitment. In 2025, however, the distinction between these two strategies has become more important than ever, as capital becomes more selective and market volatility forces investors to rethink traditional allocation models. A growing number of European professionals with hands-on experience in both operational business scaling and venture financing now...

Britain could face a Christmas crisp shortage after workers at KP Snacks’ Billingham factory — home to Hula Hoops, McCoy’s, Pom-Bears and Discos — voted overwhelmingly to take strike action. Eighty-five per cent of GMB union members employed as process operatives backed industrial action after KP allegedly imposed additional duties and responsibilities without any corresponding increase in pay. In response, KP Snacks has suspended all staff holiday requests while the company assesses the potential impact...