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Marks & Spencer forecasts cyber attack costs to reach £136m. The company, impacted earlier this year, anticipates recovery by spring 2024. Despite the attack, M&S expects profits to align with last year’s figures in the coming six months.
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Think tanks urge tax reform to boost productivity and fairness. A coalition of think tanks has proposed sweeping tax reforms aimed at enhancing productivity and fairness. The report calls for rationalising the tax system and suggests changes such as abolishing stamp duty and adjusting council tax valuations.
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One in three SME loans now puts directors’ homes at risk. New data from Purbeck Insurance Services reveals a sharp rise in personal guarantee-backed borrowing among UK business owners, prompting fresh warnings over financial exposure and calls for government clarity ahead of the next fiscal statement.
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OpenAI secures $38 billion AWS deal for AI infrastructure. The agreement grants OpenAI access to extensive computing resources, marking a shift from Microsoft Azure and highlighting the fierce competition among cloud providers in the AI sector.
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Ryanair’s Michael O’Leary criticises UK tax policies harshly. O’Leary claims Labour’s tax strategies hinder economic growth, urging reversal of taxes on wealth and air travel. His comments come as Ryanair reports record profits, emphasising strong demand despite policy tensions.
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UK’s smallest exporters struggle as larger firms gain trade benefits. Only 16% of micro exporters reported growth in Q3, compared to 42% of larger firms. The British Chambers of Commerce calls for urgent government action to support smaller businesses in expanding overseas.
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UK manufacturers urge government to prioritise growth in Budget. The sector faces significant pressures from high energy costs and tariff uncertainties, despite a slight recovery. Industry bodies call for no further national insurance hikes and support for green technology investments.
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Scaling a business is never a straight line. Jamie Roberts, Managing Partner at YFM, outlines ten strategic priorities shaping the next generation of UK scale-ups — from product-led growth and AI adoption to global-ready cultures and sustainability-driven advantage.
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Nvidia will supply more than 260,000 of its new Blackwell AI processors to South Korea. The company is also in talks with Samsung Electronics to secure next-generation HBM4 memory for its data-centre chips, marking a deepening alliance with the country’s tech sector.
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Apple and Amazon exceed forecasts with strong revenue growth. Both tech giants reported double-digit revenue increases and optimistic outlooks, alleviating investor concerns following a turbulent period for the tech sector. Apple saw a surge in iPhone sales, while Amazon’s growth was driven by its cloud division.