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Ofgem raises energy price cap by 2% for October-December. Despite a decline in wholesale prices, typical household energy costs will rise to £1,755 annually. The increase is less than 2024’s inflation-adjusted figure and £625 below the 2023 peak.
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Nearly 70% of UK businesses support mandatory sustainability reporting. A survey of 150 senior sustainability leaders indicates strong backing for mandatory disclosure, with 69% in favour. However, regulatory uncertainty and manual reporting remain significant challenges for many firms.
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Asda partners with Lloyds for sustainability-linked finance scheme. The initiative offers UK suppliers improved financing rates based on sustainability performance, assessed by EcoVadis. It aims to enhance Asda’s supply chain resilience and align with its ESG goals.
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UK M&A activity spanned semiconductors, fintech, property, advisory, and aerospace. Five key transactions defined this week, led by Haylo Labs’ security-approved purchase of Plessey, alongside Starling’s acquisition of Ember and Leonard Curtis’s stake sale to Pollen Street Capital, highlighting national-interest sectors and private capital momentum.
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UK banks close over a third of branches in five years. Traditional banks have significantly reduced their physical presence, citing increased digital banking adoption. This trend is driven by changing customer preferences, though it has raised concerns about access to cash services.
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The Youth Guarantee trailblazer scheme has been extended by £45m. Ministers say the latest ONS figures — nearly one million young people classified as NEET — underscore the urgency. The extension supports eight regional pilots delivering personalised interventions, though critics warn that stronger action is still needed.
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Eurozone businesses show growth as UK company confidence remains fragile. Fresh data reveals continental factories and services gaining pace, while UK surveys highlight costs, labour pressures, and deep uncertainty. But why is Europe moving forward while Britain struggles to find momentum?
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Government steps in to administer solvent special steelworks after collapse. Ministers are acting to safeguard 1,450 jobs and preserve South Yorkshire’s industrial capacity after Speciality Steel UK, the country’s third-largest steelmaker, was declared hopelessly insolvent and placed under administration.
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Rachel Reeves may extend the freeze on income tax thresholds. Such a move could increase the tax burden on high earners and draw more individuals into higher tax brackets. Analysts predict potential tax rises to address fiscal challenges.
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Marks & Spencer invests £340m in new fully automated hub. The fully automated site, opening in 2029, will span 1.3 million sq ft, create 3,000 jobs across construction and operation, and support the retailer’s ambition to double its food business while meeting top-tier sustainability standards.