News

Rachel Reeves’s carefully constructed £22 billion fiscal buffer could be eroded by as much as £14 billion as a result of policy U-turns and a sharper-than-expected fall in net migration, raising fresh questions about the durability of the chancellor’s budget strategy. Markets initially welcomed Reeves’s November budget, which more than doubled the government’s fiscal headroom and was seen as a signal of discipline after months of concern over the public finances. However, less than two...

Doubts have emerged over whether the government’s flagship 2030 clean power target can be met on time, after the UK boss of RWE admitted that several newly awarded offshore wind projects are unlikely to be operational by the end of the decade. The German energy group was the biggest winner in the government’s latest offshore wind subsidy auction, securing five of the six contracts awarded. Ministers hailed the outcome as a major step towards delivering...

The UK economy returned to growth in November, expanding by 0.3 per cent after contracting in the month leading up to the autumn budget, according to figures from the Office for National Statistics. The increase in GDP exceeded economists’ expectations of a modest 0.1 per cent rise and suggests that economic activity proved more resilient than many sentiment surveys had indicated in the run-up to the budget on 26 November. Growth over the three months...

A new per-mile tax on electric vehicles could deter nearly half of prospective buyers from switching to an EV, according to new research from AutoTrader, raising concerns that government policy on electric car adoption is becoming increasingly contradictory. From 2028, drivers of electric vehicles will face a new charge of 3p per mile travelled, a move announced by Chancellor Rachel Reeves. AutoTrader’s chief executive, Nathan Coe, said the decision risked undermining years of efforts to...

Restaurant Brands International announced a joint venture with Chinese alternative asset manager CPE in November 2025, setting a target to grow Burger King’s presence in China from roughly 1,250 locations to above 4,000 within the next decade. The Toronto-based quick-service restaurant operator reported third-quarter 2025 revenue of $2.45 billion, exceeding analyst estimates of $2.40 billion, driven by international expansion and Tim Hortons performance. Armistice Capital acquired shares of Restaurant Brands during the second quarter of...