B&M: Poor UK sales weigh on earnings for bargain retailer April 15, 2025 Discount retailer B&M expects full-year earnings to fall year on year as poor UK sales weigh on overall company performance. However, the company told markets this morning that it expects to report earnings before interest, tax, depreciation and amortisation (EBITDA) above the midpoint of its £605m-£625m guidance range. The firm lowered its expected full-year EBITDA [...]
Retail sales rise in March but tariff turmoil signals trouble ahead April 15, 2025 Retail sales rose in March despite low consumer confidence, according to new data, but tariff uncertainty is likely to dampen the recovery. Total retail sales increased by 1.1 per cent year on year in March, with 1.6 per cent growth in food sales and 0.6 per cent growth in non-food sales. While this was below [...]
‘State of despondency’ as tax raid sets up ‘harrowing year’ for firms April 15, 2025 Business leaders’ worries over Chancellor Rachel Reeves’ tax hikes have plunged corporate confidence into “ominous territory”, a leading business association has warned. The Chancellor launched a multi-billion pound tax raid on British businesses in the Budget last October, and a new report has suggested that the impact of the hikes is continuing to weigh on [...]
Grid connection for clean energy firms to be fast-tracked, ministers say April 15, 2025 Grid connections for businesses delivering clean energy are to be prioritised, ministers have said. The government has said so-called ‘zombie projects’ which hold up the queue for National Grid connectivity are set to be axed from the waiting list. While industries including data centres and AI, wind energy and solar projects will be accelerated for [...]
China’s out to destroy our steel industry? We can do that on our own. April 15, 2025 The two remaining furnaces at the Scunthorpe steel plant, known as Anne and Bess, have blasted through plenty of crises over the course of their long lives and now, thanks to an emergency effort by ministers to source enough materials to keep them fed, it seems they’ll roar for a few more years. But it [...]
Why the UK can’t get a grip of its energy crisis April 14, 2025 A months-long cost-of-living crisis, state bailouts of consumer energy bills, endless planning rows, judicial interventions and now the near-collapse of Britain’s only manufacturer of virgin steel all show different sides to the UK’s ongoing energy crisis. Its dependency on foreign imports, poor planning of infrastructure and lack of control over soaring bills means the extent [...]
Early action, better odds: Why UK businesses must act before it’s too late April 14, 2025 UK businesses are struggling through the rapid economic changes. So when the breaking point comes, the earlier they act, the better chance they have
Reynolds fails to confirm British Steel will get raw materials required April 13, 2025 The business secretary has declined to guarantee that British Steel will be able to secure enough raw materials in time to keep the Scunthorpe blast furnaces going. Jonathan Reynolds said he would not “make my situation or the nation’s situation more difficult” by commenting on specific commercial details, the day after taking emergency powers to [...]
Reeves unveils £500m support for tariff-affected small businesses April 13, 2025 Chancellor Rachel Reeves has launched a £500m plan to smaller businesses affected by US president Donald Trump’s tariffs. Run by the British Business Bank, the Growth Guarantee Scheme will now provide additional lending capacity for firms that will need support with cashflow issues due to changes in tariffs. Lending up to £2m per business group, [...]
Labour MP calls for action over Grangemouth oil refinery April 12, 2025 A Labour MP has urged the UK Government to intervene to help the Grangemouth oil refinery remain open, saying there are “striking similarities” between the plant there and the Scunthorpe steel plant. Brian Leishman said he hoped the UK Government would nationalise British Steel and take the plant at Scunthorpe “under Government control” – but [...]