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UK retail sales fell sharply in May. Retail volumes dropped by 2.7% amid reduced spending on food and clothing, marking the steepest decline in 18 months. Analysts attribute the fall to weaker supermarket performance and persistent inflationary pressures.
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Climate Tech Partners secures £40m funding round. The investment will back the rollout of low-carbon heat and power technologies across the UK, with a focus on deploying smart systems in homes, buildings, and grids to support national decarbonisation targets.
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Government borrowing rose to £17.7bn in May. This marked the second-highest May figure in over three decades, exceeding expectations and reigniting debate over the UK’s fiscal path. While tax receipts continue to climb, the persistent deficit and pressure to fund public services suggest the Chancellor may soon face difficult decisions on taxation.
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Carbon Upcycling secures $18 million investment. Cleantech firm Carbon Upcycling has raised $18 million to expand its CO2 capture and utilisation technology for building materials, led by Builders Vision.
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Europe’s AI future hinges on grid speed. A new report warns that poor electricity grid planning could result in 13-year connection delays for data centres, pushing billions in investment away from the continent’s traditional tech hubs and towards more agile markets in southern and central Europe.
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UK-headquartered ESG software analytics provider Datamaran has introduced Datamaran Core, a novel solution intended to aid companies in pinpointing and handling ESG issues, risks, and opportunities.
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Raspberry Pi executives reduce stakes after IPO. Founder Eben Upton and CFO Richard Boult have sold shares worth £1.8m and £455,000 respectively, following the end of the company’s lock-up period. Despite a recent dip in share price, Raspberry Pi maintains profitability and FTSE 250 status.
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Ten thousand companies removed from UK register. Companies House has launched a sweeping purge of suspected shell firms and fraudulent entities, with new powers allowing it to challenge, reject, and dissolve non-compliant organisations. The action forms part of a broader campaign to restore corporate transparency and tackle organised crime.
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UK and India agree major trade deal. The agreement will cut tariffs, boost trade by £25.5bn, and open up key sectors. Ministers say the deal will benefit whisky, cars, and services — though ratification and investment talks are still ongoing.
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Federal Reserve pauses again amid economic pressure. The US central bank held its benchmark rate steady for a fourth time, as policymakers warned of inflationary pressure from rising tariffs and signalled a slower path to future rate cuts.
