UK
-
Britain’s economy shrank 0.1 percent in May, marking two monthly declines. The latest official data showed manufacturing and construction weighed on growth despite a mild services uptick, pushing GDP further below expectations and raising questions over the UK’s near-term economic outlook.
-
Sumitomo Corporation invests in CO₂ pipeline for UK decarbonisation. The £59.6 million pipeline will aid decarbonisation of cement and lime plants, contributing to the UK’s goal of capturing 50 million tonnes of CO₂ annually by 2035, and securing 13,000 jobs.
-
Veolia invests £70M in UK’s first PET tray recycling plant. The facility will process 80,000 tonnes of plastic annually, reducing carbon emissions by up to 70%. It will create over 130 permanent jobs, supporting regional development and sustainability.
-
Brillian UK, part of Constellation Software, has acquired Trakm8. The court-approved takeover values Trakm8 at £7.8 million, with delisting from AIM scheduled for 10 July. The 9.5p per share deal represents a 280% premium, underscoring continued overseas interest in UK vertical software assets.
-
Lancashire’s Audiebant has secured seven-figure NPIF II backing. The funding will drive global growth as the business scales its multilingual mass communications platform in Europe and North America, while also investing in patent-pending technology for critical safety alerts.
-
UK commits £12 million to enhance disaster risk finance. The funding aims to expedite responses to climate shocks in vulnerable countries, reducing recovery costs. This move is part of the UK’s strategy to become a leader in sustainable finance.
-
The Bank of England has adjusted its mortgage lending rules. From July 2025, individual UK lenders may exceed the 15% cap on high loan-to-income mortgages, provided the overall market remains below this level. The temporary relaxation takes effect immediately via an interim waiver.
-
Christian Horner dismissed as Red Bull Racing team principal. Laurent Mekies takes over amid speculation surrounding Horner’s departure, following an internal scandal earlier this year. Red Bull’s recent performance issues may have influenced the decision.
-
The UK Government pledges £92 billion for transport upgrades. The investment aims to boost economic growth, create 42,000 jobs, and improve journey times. It includes major road and rail projects across England and Wales, enhancing connectivity and supporting regional development.
-
UK businesses face weakest hiring sentiment in 13 years. Rising taxes, policy uncertainty, and cost pressures are dampening employer confidence, with the latest BDO survey indicating a cautious approach to recruitment despite modest growth in consumer services.
