
Tony’s Chocolonely reports double-digit growth despite cocoa price volatility worldwide. The ethical chocolate brand grew revenues 20% year-on-year to €240m, expanded its US footprint, and scaled ethical cocoa sourcing through Tony’s Open Chain, even as the global cocoa sector grappled with record prices and supply disruption.

January’s US M&A opened 2026 with cash, speed, and scale. From streaming to medtech and power, buyers chased certainty and category leverage. Five headline deals, led by Netflix’s $82.7bn Warner Bros. push, signalled a market willing to pay up for assets that shorten timelines, widen moats, or lock in demand.

Miro connects visual collaboration directly with AI coding environments. The new MCP server links shared diagrams, requirements, and design context in Miro with agentic development tools to improve accuracy, reduce rework, and align cross-functional teams.

Midlands angel network Minerva refocuses to connect growth-stage start-ups and investors. Marking its 30th anniversary, the University of Warwick-linked network is tightening its remit to support companies raising up to £500,000, with a renewed emphasis on hands-on angel involvement and deeper founder-investor collaboration.

January’s UK M&A signalled confidence, but buyers stayed disciplined overall. A £7.7bn approach for Beazley set the tone, while EQT’s Coller deal and Accenture’s Faculty acquisition underscored private markets’ pull. Healthcare remained strategic, and take-private logic persisted. For leaders, readiness, clarity, and integration discipline mattered more than bravado this month.

SpaceX has completed the largest technology acquisition ever recorded globally. Elon Musk’s aerospace company has acquired his artificial intelligence venture xAI in a transaction valuing the combined business at roughly $1.25tn, unifying two of the entrepreneur’s most ambitious projects under a single corporate structure.

UK manufacturers reduce US exports due to tariff uncertainties. A survey reveals that 20% of factories have already reduced exports, with 16% planning to follow. Despite this, the US remains a key market, though manufacturers are shifting towards local sourcing.

January reopened Europe’s deal engine, with scale back in focus. From Zurich’s £7.67bn approach to Beazley to Deutsche Börse’s €5.35bn Allfunds agreement, buyers prioritised distribution, fee resilience, and control. Private markets consolidation accelerated, while mining mega-merger talks reminded boards that 2026 could still deliver surprises. Across the continent, scrutiny intensified.

US and India strike trade deal easing tariffs and reshaping energy flows. Washington will cut tariffs on Indian goods to 18% as New Delhi commits to ending purchases of Russian oil, a move already reverberating across equity markets, energy supply chains, and bilateral trade expectations.

Zevero acquires Inhabit to enhance sustainability advisory services. Carbon accounting startup Zevero has acquired Inhabit, a provider of sustainability solutions, to bolster its advisory capabilities. The transaction will integrate Inhabit’s tools and services, enhancing Zevero’s platform with advanced automation and data visualisation.