News

Expectations of further Bank of England base rate cuts this year have been thrown into doubt after escalating conflict in the Middle East triggered sharp rises in energy prices and government bond yields, raising fears of a fresh inflationary shock. Only a week ago, markets were confident that the Bank of England would cut rates again at its March meeting, with traders pricing in an 86 per cent probability of a 0.25 percentage point reduction....

Chancellor Rachel Reeves delivered her Spring Statement to the House of Commons under the shadow of escalating conflict in the Middle East and mounting fears of a renewed inflation shock driven by surging energy prices. In a speech lasting just over 20 minutes, Reeves stressed the importance of “stability in an increasingly uncertain world”, pointing to falling inflation and previous interest rate cuts as evidence that the cost-of-living squeeze on households is easing. However, beyond...

The UK’s competition watchdog has launched a formal investigation into three of the world’s largest hotel groups, Hilton, InterContinental Hotels Group and Marriott International, over concerns they may have shared “competitively sensitive” information through a third-party data analytics platform. The Competition and Markets Authority (CMA) said it is examining whether the hotel operators exchanged commercially sensitive data using STR, a widely used industry benchmarking tool owned by CoStar Group. Together, the three hotel groups operate...

Household energy bills could climb back towards crisis-era levels if disruption to Middle Eastern gas supplies continues, after wholesale prices surged in the wake of military escalation involving Iran, Israel and the United States. Analysts warned that annual bills could rise to around £2,500 if global gas markets face prolonged instability, undoing recent relief for consumers and reviving memories of the energy shock that followed Russia’s invasion of Ukraine. Britain’s benchmark wholesale gas price, NBP,...

Shop price inflation slowed more than expected in February, offering households tentative relief from cost-of-living pressures as retailers stepped up discounting and global food prices eased. New data from the British Retail Consortium (BRC) and NielsenIQ showed shop prices rose 1.1 per cent year-on-year in February, down from 1.5 per cent in January. The deceleration reflects intensified competition across both food and non-food sectors, with retailers cutting prices to stimulate demand amid weak consumer confidence....

US technology group Avalara has acquired Manchester-based integration startup Versori in a deal that underscores the growing international appeal of the UK’s regional tech sector. The value of the transaction has not been disclosed, but it includes Versori’s proprietary technology platform and its 23-strong team. Co-founders Sean Brown and Daniel Jones will remain with the business, which will operate under the name “Versori, by Avalara”. Founded in 2022, Versori specialises in next-generation integration technology, enabling...

A Cambridge ag-biotech start-up aiming to reinvent crop protection has secured $3.8 million in early-stage funding to accelerate the development of next-generation herbicides and pest control products using artificial intelligence. Bindbridge, founded in 2025 by a trio of Cambridge University scientists, is building what it describes as a category-defining platform for agriculture: an AI-driven system capable of designing “molecular glues” to target and degrade specific proteins in weeds and pests. The company believes its approach...