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UK GDP inched up by 0.1 per cent in August. Modest gains in services and manufacturing helped offset July’s contraction, suggesting a stabilising economy ahead of next month’s Budget. Economists warned, however, that fragile demand and tight credit conditions continue to limit the scope for faster growth.
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Rachel Reeves has admitted both tax rises and spending cuts are being considered. The chancellor told Sky News she was “looking at tax and spending as well,” confirming for the first time that both options are on the table as she works to address the UK’s growing fiscal gap.
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UK employers face higher fees for hiring skilled migrant workers. The Home Office will enforce new English language requirements and increase employer fees by 32% to fund local training. Immigration rules aim to reduce net migration and improve integration.
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The latest UK labour market figures suggest a turning point. Early signs of stabilisation appear as job losses slow and payrolled employment edges higher. Yet beneath the surface, record numbers remain out of work due to long-term sickness — a drag that continues to shape the workforce and the wider economy.
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U.N. labour agency warns of looming staff cuts amid funding crisis. Internal ILO plans show up to 8% of jobs may go if the U.S. and other members fail to pay overdue dues. Geneva headquarters could see relocations and rental changes as the governing body prepares to review proposals.
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UK innovation economy set for largest funding year since 2022. Start-ups and scale-ups secured $9bn in Q3 venture capital funding, positioning 2025 to reach $23.1bn. This resurgence, driven by significant rounds from firms like Revolut, highlights renewed investor confidence.
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Retail spending in the UK slowed in September. Retail sales increased by 2.3% year on year, down from August. Non-food sales grew by just 0.7%, while grocery sales rose by 4.3%, driven by inflation.
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Ebury expands its UK footprint with a new Birmingham office. The fintech’s move reflects rising demand from Midlands-based exporters and small businesses seeking tailored international payment and risk management solutions.
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Small UK businesses are postponing innovation due to time constraints. Google’s new research reveals 59% of SMEs have shelved major ideas, despite AI’s potential to add £198 billion in productivity. Partnering with the UK government, Google aims to help small enterprises turn technology into tangible growth and competitiveness.
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UK finance chiefs fear the nation lags behind competitors. Rising costs are squeezing profit margins, eroding confidence in Labour’s growth strategy. Deloitte’s survey reveals 84% of CFOs foresee increased operating costs, impacting expansion plans and reducing business optimism.