Challenger banks face ‘profitability trap’ at growth crossroads September 8, 2025 The UK banking sector faces a profitability roadblock that will give the industry’s challengers an “existential” turning point. Fresh data from KPMG suggests the industry’s average return on equity will fall to eight per cent come 2027 down from 13 per cent four years prior. This is set to spark an £11bn reduction in pre-tax [...]
Retailers’ woes stretch into second day after bearish Deutsche note August 27, 2025 A sell-off affecting some of the UK’s largest retailers has extended into a second day, after an analyst warned the spectre of higher taxes in the Autumn Budget, a softening labour market and sticky inflation will dent consumers’ spending habits. Shares in AB Foods, Wickes and B&Q-owner Kingfisher all shed between one and 1.5 per [...]
Royal Mail eCourier drivers launch legal battle over worker rights August 26, 2025 Legal action has been launched against Royal Mail eCourier by drivers claiming they have been unlawfully denied workers’ rights by being classified as self-employed independent contractors. A group of 15 former eCourier drivers, who are members of the IWGB union, are bringing the ‘opt-in’ claim, led by claimant law firm Leigh Day, which has brought [...]
Food inflation jumps to 18-month high as chocolate and butter prices rise August 26, 2025 Food prices have risen at their fastest pace for 18 months amid surges in the cost of chocolate, butter and eggs, latest figures show. Food inflation lifted to 4.2 per cent this month from per cent in July, according to the British Retail Consortium (BRC)-NIQ Shop Price Monitor. It marked the highest level since February [...]
Bar boss quits Labour’s hospitality group after tax concerns August 23, 2025 A top boss of a British bar chain has quit a government hospitality taskforce after facing pressure over his criticism of Rachel Reeves’ tax agenda. Alex Reilley, the chairman of Loungers, has exited the Hospitality Sector Council (HSC) after receiving backlash from civil servants for publicly criticising Labour’s economic policies, The Telegraph reported. “I was [...]
Retail giants warn Reeves her tax plans risk UK living standards August 21, 2025 Tesco, Sainsbury’s and John Lewis, along with other UK retail heavyweights, have issued a direct warning to chancellor Rachel Reeves, arguing that her government’s tax policies could undermine its key promise to raise living standards. The retailers claim they are being forced to raise prices in the face of mounting costs, and that additional taxes [...]
Atom chair: Big banks don’t know their role in economic growth August 20, 2025 The chair of digital bank Atom has slammed Britain’s banking giants for failing to drive the country’s economic ambitions. Lee Rochford, who had tenures at Virgin Money, RBS and BNP before Atom, said it was “increasingly unclear what role [top banks] are playing in driving better customer outcomes or supporting UK economic growth”. Chancellor Rachel [...]
Surging food inflation hits restaurant sales August 19, 2025 Food inflation is accelerating once again, eating into consumers’ pockets and pushing prices higher across the board. Inflation at the grocers hit five per cent in the four weeks ended August 10, down from 5.2 per cent in the previous month but well above the wider UK rate of 3.6 per cent. Real wage growth, [...]
Here are five British tech startups to look out for August 14, 2025 A new cohort of Future Fifty tech firms is demonstrating exponential growth and attracting significant investment, reinforcing London’s position as a hub for dynamic scale-ups in this space. These companies are making headlines across diverse sectors, from AI to environmental technology. The talent is emerging from UK universities, but the challenge for these firms is [...]
Morrisons cuts over 3,600 jobs as profit passes £2bn August 4, 2025 Morrisons cut more than 3,600 jobs as it returned to profit for the first time since a private equity-backed takeover in 2021. The Bradford-headquartered supermarket giant has posted a pre-tax profit of £2.1bn for the 12 months to 27 October, 2024, new accounts filed with Companies House have revealed. The profit comes after Morrisons made [...]