Markets
-
Alibaba launches competition for UK and European SMEs. The Co-Create Pitch awards offer a £750,000 prize for innovative products, with shortlisted companies pitching at events in Las Vegas and London. The competition aims to support SMEs’ digital sourcing and product development.
-
New Companies House rules will impact small UK businesses. Small firms must disclose financial data and use commercial software, raising concerns about costs and competitiveness. The government aims to enhance corporate transparency, but critics fear unintended consequences for the sector.
-
UK businesses urged against further tax hikes amid financial strain. Prime Minister Keir Starmer thanked businesses for handling the £23 billion national insurance increase but faced calls from industry leaders to avoid additional tax rises, citing unsustainable financial pressures.
-
EIS achieves ISO 42001 certification for AI governance leadership. The cloud-native insurance platform provider is the first in its category to receive the new global standard for AI management systems, reinforcing its commitment to ethical, accountable AI deployment in the insurance sector.
-
The UK set to lose more millionaires than any country. A report indicates 16,500 millionaires will exit Britain by 2025. This trend highlights concerns over the UK’s economic competitiveness and tax environment, potentially impacting the nation’s wealth retention and economic health.
-
Big Four firms cut graduate roles due to AI automation. Deloitte, EY, KPMG, and PwC have reduced graduate recruitment by up to a third, driven by AI adoption and cost-cutting measures, impacting the traditional entry-level job market.
-
Tesla’s European sales decline as consumers favour cheaper rivals. Tesla’s sales in Europe dropped for the fifth consecutive month, with a 40.5% decrease in May. The carmaker’s market share fell to 0.9%, as buyers turn to cost-effective alternatives and controversies around Elon Musk impact sentiment.
-
The UK government initiates consultations to standardise climate transition plans. New reporting standards aim to enhance investor confidence and transparency, driving billions in private clean energy investment while positioning the UK as a leader in transition finance and global competitiveness.
-
UK executives face record stress levels. New Icertis research shows tariffs, regulatory shifts, and the scramble to keep pace with AI are placing UK C-suites under mounting pressure — with nearly 90% expecting tariffs to dent the bottom line, and four in five struggling to assess AI investment impact.
-
UK Government unveils new £380m investment in creative sector support. The funding targets film, music, video games, and regional creative clusters — aiming to double private investment, support innovation and jobs, and anchor the creative economy within the forthcoming ten‑year industrial strategy.