News

The UK risks squandering its most valuable industrial assets unless the government acts swiftly to increase support for homegrown HardTech and DeepTech businesses, senior industry figures have warned. Speaking at the inaugural Bessemer Society Summit in London, Sir Warren East, (pictured) former CEO of both Rolls-Royce and Arm, and Dame Anne Glover, CEO of Amadeus Capital Partners, urged ministers to boost investment and overhaul tax rules to help British companies scale and stay onshore. The...

Around 3.6 million households – just over 40% of mortgage holders – are likely to see their monthly payments rise over the next three years, according to the latest update from the Bank of England. The Bank’s Financial Stability Report revealed that about 30% of homeowners have yet to refinance their mortgages since interest rates began climbing in 2021. As a result, many are still shielded from the full impact of tighter monetary policy, but...

A leading Manchester accountancy firm has accused the government of sending “mixed messages” to Britain’s entrepreneurs, warning that tax policy is undermining the very business owners driving growth. Adam Caplan, Partner at FFT Chartered Accountants, said that despite Chancellor Rachel Reeves’ rhetoric around supporting small businesses and fostering innovation, the reality for many SMEs was rising tax burdens, more red tape, and increased financial risk. “Politicians love to talk about supporting entrepreneurs, but the numbers...

In a stunning development for the world of Formula 1, Christian Horner has been dismissed as team principal of Red Bull Racing, bringing an end to a 19-year tenure that oversaw six constructors’ championships and eight drivers’ titles. The announcement was made on Wednesday morning via a brief Red Bull statement thanking Horner for his “exceptional work” and confirming that Laurent Mekies – formerly team principal at sister team Racing Bulls – will take over...

Small and medium-sized businesses are being urged to tighten their recruitment checks as new research reveals a sharp rise in AI-driven CV fraud — with SMEs among the most exposed. According to a study commissioned by degree verification provider Hedd (Higher Education Degree Datacheck), part of Jisc, over two-thirds (67%) of large companies reported a surge in fraudulent job applications, fuelled by generative AI tools that fabricate or embellish academic and work credentials. However, awareness...

The UK Government has today announced a landmark strategic partnership with Google Cloud aimed at modernising core public services, phasing out legacy IT infrastructure, and upskilling up to 100,000 civil servants in emerging technologies by 2030. Unveiled by Technology Secretary Peter Kyle at Google Cloud Summit London, the agreement will help central and local government bodies replace outdated systems that have long been described as the “ball and chain” of the public sector, while delivering...

Some of the UK’s most influential corporate leaders have joined the CBI in calling for the removal of stamp duty on share purchases and greater flexibility on executive pay, as part of a sweeping set of proposals to revitalise London’s equity markets. In a new report issued ahead of next week’s Mansion House speech by Chancellor Rachel Reeves, the Confederation of British Industry warned that the UK is at a critical crossroads, with its capital...

Insolvency specialist Begbies Traynor has posted a near doubling of its pre-tax profits, driven by a rise in higher-value corporate failures and sustained demand for advisory services across the UK. The firm, which is listed on AIM, reported pre-tax profits of £11.5 million for the year to 30 April 2025, up from £5.8 million a year earlier. Revenues rose by 12% to £153.7 million, from £136.7 million in 2024. Executive chairman Ric Traynor said the...