News

Currency traders are increasing their bets against sterling ahead of Wednesday’s Budget, fearing that Rachel Reeves’ tax and spending plans could further weaken the UK’s already fragile economic outlook. Data from CME Group shows trading volumes in put options — contracts that profit from a fall in the pound — have outpaced bullish call options by more than four to one over the past week. The surge suggests investors are bracing for a Budget that...

Artificial intelligence and robotics could automate more than half of all work carried out in the United States — with existing technology — according to a new report from the McKinsey Global Institute. The research finds that 57% of US work hours could be automated today if organisations redesigned workflows around the capabilities of AI agents and robots. The analysis suggests that nearly half of American jobs sit within occupations facing significant disruption from automation....

Clean-energy installation specialist Installio has raised £1.5 million in an oversubscribed Seed round led by Verb Ventures, as the fast-growing London-based company prepares to scale nationally amid surging demand for heat pumps and home-energy retrofits. Founded to tackle the biggest bottleneck in the UK’s clean-heating transition — inconsistent, low-quality installations — Installio combines specialist engineering expertise with a technology platform that streamlines complex heat-pump projects from end to end. The company provides real-time project visibility,...

A leading solicitor involved in the Supreme Court victory that shielded regional taxi firms from blanket VAT charges has warned that Chancellor Rachel Reeves’ proposed “taxi tax” could have damaging consequences for small operators and vulnerable passengers. Layla Barke-Jones, Dispute Resolution Partner at law firm Aaron & Partners, represented Delta Taxis in the landmark case that confirmed private hire operators outside London are not automatically required to charge VAT on all fares. The ruling provided...

Chancellor Rachel Reeves is being urged to seize the moment and use artificial intelligence to “Make Britain Great Again”, as business leaders and technology experts warn that AI may be the only route to growth in a Budget constrained by Labour’s tax promises. The calls come as the government prepares to announce thousands of new AI-related jobs and billions of pounds of investment in a bid to boost productivity and reboot the stalled UK economy....

A new British venture capital fund has secured major backing from Qatar to accelerate investment into quantum computing start-ups, marking a significant vote of confidence in one of the UK’s fastest-growing deep-tech sectors. Firgun Ventures, co-founded by academic and former Culture Trip founder Kris Naudts and ex-Goldman Sachs banker Zeynep Koruturk, has closed its first investment round at $70 million (£53 million). The largest contribution came from the Qatar Investment Authority (QIA), with further backing...