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UNDO partners with Microsoft for significant carbon removal project. London-based UNDO will remove 28,900 tonnes of CO2 by 2036, using enhanced rock weathering, under a new agreement with Microsoft. This marks their third collaboration, supported by Canadian climate fund Inlandsis….
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NCC Group reports annual revenue decline of 2.5% to £294m. The software escrow business grew, offsetting weaker cybersecurity performance. Gross margins improved slightly, with adjusted EBITDA meeting expectations, and the company plans a share buyback programme after December results….
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The top 1% of UK taxpayers paid a third of taxes. HMRC data shows the top 500,000 taxpayers paid £93.8 billion in 2023/24, comprising 33% of income and capital gains tax receipts. Wealth Club warns against deterring high net worth individuals.
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Pizza Hut will close 68 restaurants across the United Kingdom. The move follows the collapse of its UK franchise operator, placing around 1,210 jobs at risk. Parent company Yum! Brands will acquire part of the estate through a pre-pack deal designed to keep selected sites operating under direct control.
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UK government borrowing has exceeded forecasts by billions of pounds. Higher-than-expected interest costs and inflation-linked spending have tightened fiscal head-room for Chancellor Rachel Reeves ahead of the November Budget, leaving limited room to rebuild the Treasury’s buffer.
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Concerns arise over China’s proposed embassy near London’s financial hub. Senior figures in the City of London Corporation have expressed worries about China’s plan for a new embassy near sensitive data cables. The location is seen as potentially risky, prompting calls for caution in approving the site.
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Getty Images and Shutterstock merger faces UK competition probe. The UK’s Competition and Markets Authority (CMA) is set to conduct an in-depth investigation into the $3.7bn merger between Getty Images and Shutterstock due to concerns over potential competition reduction.
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Innovate UK launches a £1 million competition for AI breakthroughs. The Agentic AI Pioneers Prize supports AI systems with initiative and collaboration capabilities, aiming to enhance productivity across manufacturing, health, and creative industries, with up to four winners sharing the prize fund.
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IMO delays adoption of global net-zero shipping framework. The International Maritime Organization’s decision to postpone the net-zero framework creates uncertainty in shipping decarbonisation efforts. Industry leaders, including Maersk, express disappointment as progress stalls on crucial climate measures….
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UK unveils plan targeting 400,000 clean energy jobs by 2030. The Clean Energy Jobs Plan aims to meet rising demand in the green sector with initiatives for recruitment and training, prioritising occupations like electricians and welders, and ensuring competitive pay and conditions….