Britain’s biggest business leaders — from BT and JD Sports to AO World and Rick Stein — are warning Rachel Reeves’s tax hikes and labour laws are crippling investment, driving out wealth and pushing the UK toward recession.
Category: In Business
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Co-op hack wipes out £80m of profits as cybercrime surge hits UK businesses
The Co-op has revealed a cyberattack wiped out £80m in profits and cost £206m in revenues, disrupting stores and funerals in one of Britain’s biggest corporate hacks.
Cornwall icon Rick Stein hit by Reeves’s tax hike as hospitality jobs vanish
Rick Stein’s Cornwall restaurant empire has plunged into deeper losses, blaming Rachel Reeves’s tax raid on employers as hospitality jobs vanish.
Gold hits record high as analysts predict $4,000 milestone by Christmas
Gold has surged to an all-time high of $3,778 per ounce, with analysts warning it could hit $4,000 by Christmas. Silver has also soared 45% this year amid inflation and geopolitical uncertainty.
Reeves tax raid to ‘drive unemployment up to five-year high’
UK unemployment is forecast to climb to 4.9% in 2026, the highest level since 2021, as Chancellor Rachel Reeves faces mounting pressure to plug a £50bn fiscal gap with further tax hikes.
UK falls to sixth in global innovation rankings as rivals surge ahead
Britain has dropped to sixth place in the World Intellectual Property Organisation’s Global Innovation Index, with South Korea and China climbing the rankings. Science minister Lord Vallance pledges to reverse the decline.
Millions of Brits to use generative AI for Christmas gift shopping in 2025
Coveo research reveals 71% of Brits plan to use generative AI to help with Christmas shopping this year—double 2024’s figure—as consumers seek inspiration, deals and budgeting support.
TikTok tops list of most scraped websites as AI training reshapes data priorities
Decodo’s 2025 Most Scraped Websites report shows TikTok has surged to the top spot with 321% traffic growth, highlighting how multimodal AI training is driving a shift toward video-first platforms.
UK startup set to tackle £3bn IT skills gap
A UK startup has unveiled a new platform designed to transform how IT consultancies use and share talent, amid rising concerns about wasted skills and soaring recruitment costs.
AI adoption stalls in large enterprises as doubts grow over returns
AI adoption among large enterprises dips from 14% to 12%, raising concerns over ROI and security. Experts call for training, governance and resilience strategies.
Lord Mayor honours UK trailblazers driving growth, innovation and social impact
Aspect Capital, Tide, Neighbourly and Guavapay have received the Lord Mayor’s Award for their role in championing innovation, growth and social purpose as part of the City of London’s Growth Unleashed programme.
Sadiq Khan urged to give hospitality rent and rates holiday during tube strikes
Hospitality businesses hit by rising costs should be given a rent and rates holiday to weather London’s tube strikes, says Blick Rothenberg, warning many may be forced to close temporarily.
HMRC leaves up to 4m taxpayer calls unanswered each year, MPs told
Up to four million taxpayer calls go unanswered by HMRC annually, a Commons committee has heard. Experts warn poor service risks non-compliance and undermines efforts to recover £46.8bn in unpaid tax.
Nodor acquires Autodarts to bring automatic scoring tech to global darts community
Welsh darts giant Nodor, owner of Winmau and Red Dragon, has acquired Autodarts, whose camera-based scoring system is used by 85,000 players worldwide, in a bid to revolutionise the sport.
Asset management ‘grindingly slow’ to improve gender balance as women remain just 13% of fund managers
Citywire’s Alpha Female report shows women make up just 13% of UK fund managers — barely up from 10% a decade ago — as asset management struggles to improve gender diversity despite years of initiatives.
