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Rachel Reeves promises she will not raise taxes again
There will be no more tax rises or borrowing for the duration of this government’s term, Chancellor Rachel Reeves has said.She told business leaders there will not be another budget like her maiden announcement, which included a rise in employers’ national insurance contributions and the national minimum wage. “I’m not coming back with more borrowing …
Business
Sky News
First rise in rate of shop inflation in 17 months – industry data
The trend of shop prices falling may be reversing as businesses face higher costs, according to industry data.The pace of price drops slowed this month, according to figures from the British Retail Consortium (BRC). November was the first time in 17 months that the inflation rate was higher than a month earlier.While shop prices dropped …
Business
Sky News
Microsoft ‘investigating issue’ after users report problems with Outlook and Teams
Microsoft has said it is “investigating an issue” after users reported problems with Outlook and Teams.In a post on X, Microsoft 365 Status said: “We’re investigating an issue impacting users attempting to access Exchange Online or functionality within Microsoft Teams calendar.” Microsoft Exchange Online is a platform for business communication that has a mail server …
Business
Sky News
Gail’s backers hire Goldman Sachs to bake plan for new owners
The owners of Gail’s, the fast-growing chain of bakeries which found itself at the centre of a row about the gentrification of London suburbs earlier this year, have hired bankers to handle a sale that should yield a handsome windfall for them.Sky News has learnt that Gail’s shareholders have instructed Goldman Sachs to run an …
Business
Sky News
Fitness platform Magic AI gets into shape with $5m fundraising
A fitness platform which uses a hologram video-enabled training mirror to deliver bespoke workouts is getting into shape with a $5m fundraising led by a prolific investor in UK SMEs.Sky News understands that Magic AI, which claims to have developed the world’s leading artificial intelligence-led fitness mirror, will announce this week that it has secured …
Business
Business Live
UK job market sees pre-Christmas uplift with new vacancies in retail and construction
The job market is experiencing a pre-Christmas uplift, as per recent research from Adzuna. In October, there was a 0.64 per cent increase in vacancies compared to six months ago, marking the first positive six-monthly reading for 2024. This suggests that the job market has stabilised following the significant drop in new job openings during …
Business
Sky News
Barclays fined £40m over ‘reckless’ financial crisis capital raising
Barclays has been fined £40m over capital raising that averted its need for taxpayer aid during the 2008 financial crisis.The Financial Conduct Authority (FCA) found that the bank should have disclosed more details to the stock market about the £11.8bn in funding, from Qatari and other sovereign investors, that it had previously described as “reckless” …
Business
Sky News
‘When you hit profits, you hit growth’: Business criticises budget tax hike
Tax rises announced during the recent budget will hit businesses rather than encourage growth, the head of one of the UK’s most prominent business groups has warned.The Confederation of British Industry (CBI) director general Rain Newton-Smith joined a chorus of voices in criticising chancellor Rachel Reeves’s fiscal measures, which the Labour Party claims are needed …
Business
Business Live
Scale-up firms might be few in number but their impact is immense
This week we will hold the first-ever UK Fast Growth Awards in London, where we will be celebrating the fastest-growing firms in the UK. Drawing on detailed research and a business community of more than 50,000 entrepreneurs, the awards celebrate the 50 fastest-growing firms in each of the seven nations and regions of the UK. …
Business
Business Live
British Airways in major expansion at Cardiff Airport
British Airways has announced a multi-million-pound investment in its maintenance engineering facility at Cardiff Airport. The airline said it will expand one of three existing maintenance bays at the site to facilitate its larger long-haul Airbus A350 aircraft. This will create a second fully flexible bay, allowing more complex work to be completed. The base …
Business
Sky News
ITV back in spotlight as suitors screen potential bids
Potential suitors have again begun circling ITV, Britain’s biggest terrestrial commercial broadcaster, after a prolonged period of share price weakness and renewed questions about its long-term strategic destiny.Sky News has learnt that a number of possible bidders for parts or all of the company, whose biggest shows include Love Island, have in recent weeks held …
Business
Business Live
Peel Hunt: ‘Missing piece’ in Reeves’ City growth push
Peel Hunt has stated that the government has shown a “fundamental shift” in its growth strategy, but needs to address the crucial matter of driving investment into the UK stock market. In an investor note released this week, Charles Hall, Peel Hunt’s head of research, emphasised that while Rachel Reeves’s Mansion House speech last week …

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