FTSE 100 Live: Natwest ups guidance, Retail sales rise October 24, 2025 Good morning from the City AM liveblog team. As we get closer and closer to the Budget, businesses are becoming more and more vocal on their concerns over what could be in store. Yesterday it was the turn of London estate agent Foxton’s, which warned of softened demand as a result of Budget uncertainty. “Macroeconomic [...]
Consumer confidence remains downbeat amid Budget wariness October 24, 2025 A small lift in consumer confidence over October has failed to take a leading index into positive territory amid fears that the upcoming Budget could damage personal finances. Labour has made boosting living standards a central mission in government while Chancellor Rachel Reeves has recently talked up plans to lower the cost of living for [...]
Jaguar Land Rover cyber attack hammers UK car production October 24, 2025 The most expensive cyber attack in British history suffered by Jaguar Land Rover contributed to car production being slashed by almost 30 per cent in September, according to new figures. Jaguar Land Rover was forced to halt production for five weeks from 1 September which has been estimated to have cost the UK around £1.9bn. [...]
Mark Kleinman: Ovo’s quest for cash needs fresh spark October 23, 2025 Ovo’s quest for cash needs fresh spark Talk about losing its spark. For Stephen Fitzpatrick, the 2020 acquisition of SSE’s retail energy supply arm was a defining moment – a daring swoop by Ovo, the upstart utility he had founded, for a principal member of the sector oligopoly. It’s been far from plain sailing since: [...]
UK SMEs brace for inflation strain as confidence slips October 22, 2025 Small business (SME) optimism is faltering as sticky inflation, labour shortages and rising borrowing costs pile pressure on firms already stretched by thin margins and political uncertainty. Small business confidence dipped in September, with recent Opinium polling suggesting that UK entrepreneurs are increasingly uneasy about the months ahead. The latest figures from the National Federation [...]
Rachel Reeves plans another NIC tax raid at November Budget October 21, 2025 Rachel Reeves is gearing up for another billion-pound raid on National Insurance Contributions (NICs) as the Chancellor finds ways to plug a huge fiscal black hole in November’s Budget. Reeves is understood to be drawing up plans to extend NICs taxes to include limited liability partnerships or LLPs, to whom the tax does not currently [...]
Calls for Reeves to scrap customs ‘loophole’ used by Shein in budget October 21, 2025 Retailers would benefit if the UK scrapped or reduced import relief for low-value goods in the upcoming budget, according to experts. There has been much speculation that the Chancellor will scrap the low-value import VAT relief that lets goods under £135 enter the UK duty-free (parcels above that value can incur customs duties of up [...]
Bodycare: Creditors to lose millions after retailer’s collapse October 21, 2025 Bodycare owed more than £30m when it collapsed into administration with the loss of around 1,400 jobs, it has been revealed. The high street health and beauty retailer fell over in September with an initial 32 stores closed and around 450 employees being made redundant. That move was followed a few days later when it [...]
British chipmaker Ensilica becomes latest victim of Jaguar Land Rover cyberattack October 16, 2025 British chipmaker Ensilica is thought to have become the latest supplier to Jaguar Land Rover to take a hit from the carmaker’s cyberattack, as the firm cut its supply expectations for the forthcoming year. The Oxford-based business saw its shares tumble on Thursday after it revised down its revenue expectations to £28-30m for the year [...]
Salesforce rolls out new AI tools amid escalating job concerns October 15, 2025 US tech behemoth Salesforce unveiled ‘agentforce 360′ on Tuesday, its latest generative AI platform built to automate repetitive tasks, as concerns around AI’s impact on jobs continue to swirl, and the company itself navigates workforce reductions. Salesforce executives framed the platform as a way to augment rather than replace human workers, providing tools that allow [...]