News

Litestream Ventures recorded $78.1 million (£61.5m) in non-binding investor pledges during World Economic Forum week in Davos, after hosting its fourth annual Family Office & Venture Capital Forum. The closed-door event, held during the World Economic Forum, brought together more than 120 investors, founders, venture funds and philanthropic partners. Pledges were signalled in support of 12 companies focused on addressing major global challenges, alongside backing for the charitable initiative Star for Life. The pledges were...

Modern Milkman has secured a £10 million investment to accelerate growth across the UK, expand its US footprint and develop new sustainable doorstep services, taking its total funding to more than £60 million. The Manchester-based business said the funding will support the continued evolution of its doorstep delivery model, as it builds out a broader logistics platform designed to make sustainable grocery shopping easier and more convenient for households. The investment comes from Salica Investments,...

Disappointing full-year results from LVMH suggest that the global luxury sector is facing more than a short-term slowdown, with challenges likely to persist into 2026, according to new analysis. Commenting on the figures for the year ending 31 December 2025, Sharon Iles, senior apparel analyst at GlobalData, said the performance underlined “persistent struggles within the overall luxury market”. LVMH reported a 4.6% fall in full-year revenue to €80.8bn, while fourth-quarter sales declined by 5.1%, marking...

Rogo has opened its first international office in London, marking a major step in the company’s global expansion as demand for enterprise-grade artificial intelligence accelerates across the financial sector. The move positions Rogo in Europe’s leading financial centre, allowing the AI platform to deepen relationships with major European banks, support hands-on deployment of its technology, and tap into London’s finance and technology talent pool. Rogo’s European expansion is underpinned by a $75 million Series C...

Amazon has announced a further 16,000 job cuts worldwide as it presses ahead with plans to slim down management layers and “remove bureaucracy”, putting an unspecified number of UK roles at risk. The latest round of layoffs follows the elimination of 14,000 white-collar jobs in October and forms part of Amazon’s broader ambition to shed around 30,000 corporate roles. While the majority of the new cuts will fall in the United States, teams in the...

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...

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...

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...

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,...