News

The UK’s financial watchdog is preparing to bring Environmental, Social and Governance (ESG) ratings agencies under formal regulation for the first time, in what is being described as the most sweeping overhaul of sustainable finance rules in the country’s history. The Financial Conduct Authority (FCA) has launched a consultation setting out plans to police the rapidly expanding ESG ratings sector, which has grown into a $2.2bn (£1.6bn) global industry as investment managers increasingly embed ESG...

Entrepreneur and Dragons’ Den star Steven Bartlett is preparing to launch a new tech news website later this month, as he expands his fast-growing media and business empire. The publication, reportedly called Founded, will cover the technology and start-up landscape across the UK and US, according to City AM. Bartlett is understood to be hiring around 10 journalists alongside an editor-in-chief as he builds out a full newsroom. A holding page on Founded.com has replaced...

The UK government has withdrawn its backing for a $1.15bn (£870m) loan to a major gas development in Mozambique, citing escalating concerns over climate impact, human rights violations and the deadly insurgency that engulfed the region. Business secretary Peter Kyle confirmed on Monday that the UK Export Finance (UKEF) agency would pull its support for the long-delayed Mozambique liquified natural gas project, led by French energy giant TotalEnergies. The decision comes five years after the...

Accenture has begun referring to its global workforce of nearly 800,000 people as “reinventors” as part of a sweeping restructuring aimed at positioning the consultancy as a leader in artificial intelligence. Chief executive Julie Sweet has already adopted the new terminology in internal communications, and the company is encouraging the label to be used across the business. The shift stems from a June reorganisation that merged Accenture’s strategy, consulting, creative, technology and operations arms into...

Cannumo, the Lithuanian wellness start-up behind the live-bacteria drink Goodie, has secured a record-breaking €1 million investment on Shark Tank Lithuania — the largest deal ever reported on any European business reality show. The investment came from entrepreneur Tadas Burgaila, co-founder of the Kilo Group and founder of accelerator Lost Astronaut. Burgaila committed €600,000 for a 20% equity stake, alongside €400,000 in loan financing, marking a milestone for both Lithuania’s start-up sector and the broader...

Prime Minister Keir Starmer has denied accusations that Chancellor Rachel Reeves misled the cabinet or the public over the state of the public finances ahead of last week’s Budget, after a fresh row erupted between the Treasury and the Office for Budget Responsibility (OBR). Speaking at a nursery in London, Starmer defended Reeves’ tax rises and her decision to scrap the two-child benefit cap, despite weeks of speculation over possible income tax hikes. He insisted...

Borough Broth, the fast-growing bone broth brand backed by Duncan Jones, has secured £7.5 million in new investment to support a major expansion, as demand for natural and minimally processed foods continues to soar. The funding comes from Piper, the consumer-focused private equity firm known for backing brands such as Ancient + Brave and luxury candle maker Neom. The deal gives Piper a one-third stake, valuing Borough Broth at £19.5 million. Founder Ros Heathcote, a...