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Eon’s UK arm reported an £800 million drop in turnover. The Coventry-based division’s sales fell to £2.5 billion for 2024, down from £3.3 billion the previous year, as lower wholesale commodity prices weighed on revenues. Pre-tax profit, however, edged up to £52 million due to a series of disposals.
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Directors’ confidence has fallen sharply as tax rises bite. The latest Institute of Directors index shows sentiment dropping close to pandemic-era lows, as fresh payroll taxes and looming new regulations unsettle business leaders across the UK in the run-up to autumn.
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Canada suspends its digital services tax to revive US talks. The tax aimed at US tech giants faced criticism from President Trump, who halted negotiations and threatened tariffs. Talks are set to resume, targeting a new trade deal by 21 July.
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UK introduces new steel safeguard measures from July 2025. The UK government has announced strengthened steel import safeguards, reducing quota liberalisation and implementing caps to protect domestic producers from redirected foreign imports in response to US tariffs.
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One in four UK firms faced a cyber-attack last year. The Royal Institution of Chartered Surveyors warns outdated building technology is fuelling a wave of breaches, as new data shows businesses of all sizes are increasingly vulnerable — with owners urged to modernise defences and audit digital risks.
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UK entry-level roles have dropped by a third since 2022. Automation is accelerating across sectors, with graduate and junior roles squeezed hardest. New figures show retail listings are down 78%, while AI hiring trends are reshaping the wider UK job market.
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The FCA has proposed a major reform to investment guidance. A new ‘targeted support’ category would let firms give low-cost prompts to consumers without breaching advice rules, aiming to address a gap that leaves millions without affordable help.
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Lotus has denied reports it will close its UK factory. The carmaker confirmed that production at its Hethel plant remains paused, but not closing, as officials moved to reassure workers and clarify media reports suggesting a US relocation.
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Five new UK deals signal strong mid-cap appetite. Advent’s £3.8bn Spectris bid headlines a week of sponsor-driven takeovers and trade interest across tech, energy, and education. Deal flow remains weighted to the sub-£200m tier, with UK targets drawing both private equity and listed buyers.
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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.