The UK has agreed to scrap its Digital Services Tax on online giants like Amazon in a move that will stop Joe Biden slapping tariffs on British goods.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Fall in retail sales suggests faltering economic recovery
Retail sales fell unexpectedly last month in another sign that Britain’s economic recovery is slowing, official figures show.
Higher shop prices loom says boss of Unilever
The boss of one of the world’s largest consumer goods companies has warned shoppers that they are facing a “once-in-two-decade” environment of rising prices across almost every household product category.
Fears grow as UK factories hit by worst supply chain shortages since mid-70s
Britain’s manufacturers are struggling with their worst supply shortages since the mid-1970s, as fears grow in the sector over the economic fallout from rising costs and a lack of key materials.
UK’s buy now, pay later credit industry to face regulation even though limited evidence of harm
Tighter regulation of the buy now, pay later credit industry is on the way, though the government has concluded there is “relatively limited evidence” of widespread consumer harm.
Government borrowing falls in September giving hope for generous budget
The chancellor has built up considerable fiscal headroom before the budget next week as government borrowing came in lower than forecast during the first half of the year.
Post-Brexit New Zealand deal cheers drinkers but British farmers fear cheap meat imports
Ministers sealed what is only the second bespoke Brexit trade deal after agreeing terms with New Zealand that will allow cheaper wine imports but open British farmers up to competition.
Barclays signals more branch closures are on the way as profits double
Barclays has warned it may move to accelerate its transformation programme in the UK before the year’s end while reporting record group profits for the first nine months of 2021.
UK manufacturers plead for more government help to boost sector
Five of the UK’s leading manufacturing industries have issued a plea for more government financial support to boost capital investment in research and development as well as new factories and equipment with lower carbon emissions.
PayPal bid $45Billion for Pinterest in pollen to create new retail force
Pinterest was the centre of attention on Wall Street last night after reports that PayPal had offered to buy the popular social media platform for $45 billion.
West Midlands mayor Andy Street gives nod for £2.5bn Coventry gigafactory
Andy Street, the West Midlands mayor, is backing a plan to close Coventry airport and turn the site into one of the world’s largest “gigafactories” making electric car batteries.
UK Deliveroo orders soar by 59% despite restaurants reopening
Deliveroo enjoyed a 59% increase in orders in the UK and Ireland between July and September despite the return of dine-in restaurant eating
Lloyds Bank to close another 48 branches
Lloyds Banking Group is set to close a further 48 branches across England and Wales, the British lender said on Wednesday, as it seeks to further cut costs by trimming its physical network.
Inflation steady at 3.1% ahead of predicted surge in the cost of living
The rate of inflation crept down slightly to an annual rate of 3.1% in September, according to official figures which are tipped to surge ahead in the months ahead and force the Bank of England to intervene.
Mark Zuckerberg is planning to rebrand Facebook
Facebook is believed to be preparing to change its corporate name as it battles accusations that its social media sites harm the mental health of younger users.