News

The Bank of England has kept its benchmark interest rate at 4.25%, but hinted that a cut could be on the horizon as early as August, amid growing signs of a weakened UK economy and rising global risks. While Governor Andrew Bailey acknowledged that inflation is now on a gradual downward path, he warned that the world remains “highly unpredictable”, with escalating geopolitical tensions—particularly in the Middle East—threatening to derail the UK’s fragile economic recovery....

Raspberry Pi founder Eben Upton has sold £1.8 million worth of shares in the Cambridge-based microcomputer company, reducing his stake just over a year after its high-profile stock market debut. The sale came as a 365-day lock-up period for directors and senior executives expired this week. Upton, 47, who launched Raspberry Pi in 2008, was joined by the company’s chief financial officer, Richard Boult, who offloaded £455,000 worth of shares. The transactions were disclosed in...

Shell’s chief executive Wael Sawan has warned that a worsening of the conflict between Israel and Iran could deliver a major shock to the global economy, as geopolitical tensions threaten to choke off one of the world’s most important energy supply routes. Speaking at an energy conference in Tokyo, Sawan said Shell had drawn up contingency plans should the conflict result in disruptions to oil and gas flows from the Middle East. He said a...

Companies House has removed more than 10,000 companies from the official register in a sweeping crackdown on fraud, corporate abuse and organised crime, after uncovering a network of just 30 entities responsible for incorporating up to 50,000 businesses suspected of being involved in illicit activities. The purge, conducted in collaboration with the Insolvency Service, is part of a broader effort to restore integrity to the UK’s business registry and close longstanding loopholes that have allowed...

The Department of Health and Social Care’s handling of a £122 million PPE contract came under increasing scrutiny last week as three days of testimony in the High Court laid bare a string of apparent failings in oversight, documentation, and witness evidence. As PPE Medpro’s legal team continued its cross-examination of departmental witnesses, questions mounted over missing audit trails, contradictory statements, and key figures absent from the witness box. Day three began with the cross-examination...