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      Lord O’Neill declines job in Burnham government

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      Illegal Premier League betting could hit £1bn within year

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SME

  • AI startup raises $20m to build ‘digital twins’ of office workers

    Tech

    An AI startup that creates digital replicas of employees has raised $20m (£15m) as investors bet that technology used to model factories and machinery can be applied to office workers. Twin1 AI emerged from “stealth” on Thursday after securing seed funding in a round co-led by Bessemer Venture Partners, Tribeca Venture Partners and Aramco Ventures. [...]

    Modern open-plan office space with employees working at computers, bright lighting, and large windows.
  • Anthropic subscriptions overtake OpenAI in the UK, fresh data suggests

    AI

    Spending on Anthropic subscriptions has overtaken OpenAI in the UK for the first time, fresh data suggests, as the firm’s focus on enterprise customers helped boost its revenues. Anthropic accounted for as much as 54 per cent of all UK business spending on AI firms in the three months to July, compared to just 27 [...]

    Smartphone displaying the Claude by Anthropic AI assistant app, showing the app icon and interface.
  • Does the real economy care that much about AI?

    AI

    Take your pick of alarmist projections about the future of the global economy from top tech leaders. Monzo’s founder, Tom Blomfield, reckons unemployment will surge over the next five years as more and more human output is replaced by AI. Elon Musk reckons it will be near 100 per cent in a decade.  But projections [...]

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  • ‘Cost of business crisis’ as government drives up overheads by 70 per cent in a decade

    August 11, 2026

    British companies are facing a “cost of business crisis” as a string of controversial government policies have pushed up an average firm’s expenses by 70 per cent in a decade, one of the country’s largest industry bodies has found. A typical-mid-sized firm is now paying roughly £827,000 more a year than they were in 2016 [...]

  • Metro Bank profit jumps as it bucks branch closure trend

    August 4, 2026

    Metro Bank secured its highest half-year profit on record in the first six months of 2026 as it bucked an industry-wide trend of branch closures and grew its small business offering. The FTSE 250 bank recorded a £60.7m pre-tax profit, up 41 per cent from the same period last year. This was driven by a [...]

  • Iwoca closes bumper debt facility as sale speculation mounts

    July 27, 2026

    Small business lender Iwoca has inked a new £250m debt facility that will help it ramp up its lending power just days after it emerged it had instructed bankers to launch a sale process valuing it at north of £1bn. The fintech closed the credit line from a household name bank and private credit giant [...]

  • British Business Bank cuts jobs in automation push

    July 21, 2026

    The British Business Bank slashed its headcount in the last year as the government-owned economic development bank underwent a major restructuring. The bank – which backs loans from financial institutions in a bid to drive up UK small business lending –  said in its annual report “a number of colleagues were placed at risk under [...]

  • Late payments costing UK economy £11bn as SMEs struggle to invest

    June 15, 2026

    Late payments are costing the UK economy an estimated £11bn a year and leaving small businesses (SMEs) waiting almost a month to be paid, amid growing concerns over blocked cashflow across the economy. Research from Sage shared with City AM found that 49 per cent of SME invoices are paid late, with businesses waiting an [...]

  • Top banks urge Rachel Reeves to expand small business lending scheme

    May 29, 2026

    Top UK banks are lobbying Rachel Reeves to beef up the government’s small business lending scheme in a bid to unlock more capital to be lent to firms. A letter penned by UK Finance – the banking industry body that represents the likes of Barclays, Lloyds and Natwest – has called for the Chancellor to [...]

  • Antler bets on the UK’s next generation of founders with its London-based residency

    April 21, 2026

    Antler’s latest London residency opened this week with 80 founders in a single room, selected from roughly 10,000 applicants, each receiving a £500,000 commitment to build a company from scratch over eight weeks. Fewer than one in a hundred applicants make it through the selection process, which the early-stage investor weights heavily towards individual character, [...]

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