Octopus’s Greg Jackson: We have been gaslit by vested interests July 7, 2025 Octopus Energy founder Greg Jackson has accused his opponents of “gaslighting” ahead of an imminent decision by ministers on whether to split up the UK’s power market. Prime Minister Sir Keir Starmer is expected to draw a line under the zonal pricing debate as early as this week after months of increasingly fierce lobbying from [...]
Apple: UK tax bill surges as profit passes £1bn July 7, 2025 The amount Apple paid into the Treasury’s coffers surged to more than £300m for its latest financial year as its profit jumped to over £1bn. The US giant paid £303.7m in UK corporation tax in the 12 months to 28 September, 2024, according to new accounts filed with Companies House. The figure is up significantly [...]
Hiring confidence worst in 13 years as businesses brace for further tax hikes July 7, 2025 Appetite for hiring among employers has fallen to lows not seen since 2012, as bosses bring up the drawbridge following bruising hikes to business rates and more tax rises looming at the next Budget. Research from the BDO Business Trends barometer found that firms are “holding back recruitment” despite indications of a summer recovery. Employment [...]
Plus500 profit rises amid expansion drive July 7, 2025 Fintech firm Plus500 has reported a rise in quarterly profit as it continued an expansion drive into markets including Canada, the UAE and India. Quarterly earnings before interest, taxation, depreciation and amortization (EBITDA) increased 12 per cent to $91.3m (£67m) on revenue of $209.3m. Plus500 said active customers on its platform had jumped to 132,602 [...]
Consumer confidence rising as summer holiday season begins July 7, 2025 The majority of UK households are feeling financially secure, with 70 per cent of people confident enough to plan a summer holiday, according to a survey. The number of people feeling financially secure has risen this quarter by three percentage points to 58 per cent, while confidence that the UK economy is improving has risen [...]
National Wealth Fund to put £28m into carbon capture project July 7, 2025 A government -backed fund is pledging more than £2 for a carbon capture project. Energy secretary Ed Miliband has said that workers in “Britain’s manufacturing heartlands” will benefit from the investment in the Peak Cluster works. Peak Cluster is working towards a pipeline that will take carbon emissions from cement and lime companies in the [...]
UK becomes ‘most attractive country’ for investment as risk appetite grows July 7, 2025 The UK has risen up the ranks to become the joint top location for investment among CFOs around the world, a new survey has suggested, with financial officers open to taking on greater risks. City leaders and policymakers have widely spoken about their desire to take on bigger gambles to drive returns and improve growth [...]
Ministers ‘pushed ahead too fast’ on welfare reform, says Phillipson July 6, 2025 Ministers “pushed ahead too fast” and “didn’t listen enough” on welfare reform, the education secretary has said. Bridget Phillipson also said that future spending decisions had been made “harder”, when asked about the prospect of the two-child benefit cap being scrapped. Phillipson told the BBC’s Sunday With Laura Kuenssberg programme that she was “not going [...]
State pension could face insolvency by 2036 despite tax hikes July 6, 2025 Britain’s state pension could become financially unsustainable as early as 2036, despite recent increases in National Insurance contributions, according to new modelling by the Adam Smith Institute (ASI). The think tank warned the Treasury is on course to spend more on welfare payouts than it receives in National Insurance receipts within just over a decade. [...]
Hospitality jobs slump as Reeves’ National Insurance hike bites July 6, 2025 The UK hospitality industry has shed 69,000 jobs since chancellor Rachel Reeves’s rise in employers’ national insurance contributions took effect – a stark reversal from the 18,000 roles created in the same period last year under the previous government. The figures, sourced from the Office for National Statistics, or ONS, mark the steepest peacetime job [...]