Tesco CEO Ken Murphy has urged Chancellor Rachel Reeves to avoid fresh tax rises in the November budget, warning higher costs and delayed timing risk hitting Black Friday and Christmas sales.
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Baroness Mone demands Prime Minister investigate Rachel Reeves for ‘inflammatory’ language after £122m PPE Medpro court defeat
Baroness Michelle Mone has accused Chancellor Rachel Reeves of “dangerous and inflammatory” language after PPE Medpro was ordered to repay £122m. Mone has called for an urgent investigation and a retraction.
Tesco warns of Christmas price war as household budgets tighten
Tesco has raised profit guidance to £3.1bn after summer sales growth but warned of an intensifying supermarket price war ahead of Christmas amid continued pressure on household budgets.
![Heathrow has said passenger numbers were 60% lower in November than before the coronavirus pandemic and there were “high cancellations” among business travellers concerned about being trapped overseas for Christmas as Omicron spreads. The UK’s largest airport said the government’s travel restrictions had dealt a fresh blow to travel confidence and predicted it was likely to take several years for passenger numbers to return to pre-pandemic levels. This week ministers said passengers arriving in the UK would have to take a pre-departure Covid test, as well as a post-flight test, because of fears about the spread of the new variant. “[The] high level of cancellations by business travellers concerned about being trapped overseas because of pre-departure testing shows the potential harm to the economy of travel restrictions,” the airport said in an update. Heathrow said the drop in traveller confidence owing to the new travel restrictions had negated the benefit of reopening the all-important corridor to North America for business and holiday travel last month. Eleven African countries have been added to the government’s red list, requiring travellers to quarantine before reuniting with families. “By allowing Brits to isolate at home, ministers can make sure they are reunited with their loved ones this Christmas,” said John Holland-Kaye, the chief executive of Heathrow. “It would send a strong signal that restrictions on travel will be removed as soon as safely possible to give passengers the confidence to book for 2022, opening up thousands of new jobs for local people at Heathrow. Let’s reunite families for Christmas.” Heathrow said that if the government could safely signal that restrictions would be lifted soon, then employers at Heathrow would have the confidence to hire thousands of staff in anticipation of a boost in business next summer. The airport is expecting a slow start to 2022, finishing next year with about 45 million passengers – just over half of pre-pandemic levels. This week Tui, Europe’s largest package holiday operator, said it expected bookings for next summer to bounce back to 2019 levels. However, Heathrow said on Friday not to expect the aviation industry to recover for several years. “We do not expect that international travel will recover to 2019 levels until at least all travel restrictions (including testing) are removed from all the markets that we serve, at both ends of the route, and there is no risk of new restrictions, such as quarantine, being imposed,” the airport said.](https://notltd.co.uk/wp-content/smush-webp/2024/05/shutterstock_1100012546-230x154.jpg.webp)
Greggs lifts prices to offset rising wage costs as investors rally behind stock
Greggs will raise prices on selected items, including breakfast deals, to counter higher payroll costs. Shares jumped 7% after improved trading eased concerns over falling sales.
PPE Medpro ordered to repay £122m in DHSC gown dispute, with Barrowman slamming ruling as a ‘travesty of justice’
Mrs Justice Cockerill has ruled that the Michell Mone linked PPE Medpro must repay nearly £122 million to the UK government by 15 October.
A ‘taxi tax’ would hit vulnerable passengers and struggling businesses hardest
Rumoured plans to impose VAT on taxi fares risk raising costs for vulnerable passengers, cutting earnings for drivers, and piling pressure on hospitality businesses already under strain.
Mone accuses Rachel Reeves of fuelling ‘government vendetta’ after Labour fringe remark
Baroness Michelle Mone has accused Rachel Reeves of fuelling a government vendetta against her and PPE Medpro, after the Chancellor reportedly confirmed the allegation at a Labour Party Conference event.
HSBC warns UK business banking customers of third-party data breach
HSBC has alerted UK business banking customers to a data breach at a third-party platform exposing passport details and identity documents. Customers are urged to stay vigilant against fraud.
UK growth slows sharply to 0.3% in second quarter as households turn cautious
ONS confirms UK GDP grew 0.3% in Q2 2025, down from 0.7% in Q1, with households saving more and consumer spending flat. Economists warn growth may remain sluggish.
Tax reform speculation slows high-end property sales, says Zoopla
Zoopla warns that speculation over stamp duty and council tax reforms is cooling demand for homes above £500,000, with luxury sales and listings falling ahead of the budget.
YouTube agrees $24.5m settlement with Trump with $22m going toward White House ballroom
YouTube will pay $24.5 million to settle Donald Trump’s lawsuit over his account suspension, with $22 million directed toward building a White House State Ballroom via the Trust for the National Mall.
Exclusive: DHSC rejected £23m offer and full gown remake from Mone linked PPE Medpro
The Department of Health and Social Care (DHSC) rejected two major settlement offers from PPE Medpro, including a complete remake of 25 million sterile gowns or a £23 million payment, Business Matters can exclusively reveal.
Reeves targets Farage as Labour pitches stability against ‘easy answers’
Chancellor Rachel Reeves used her keynote address at the Labour Party conference to draw sharp battle lines with Nigel Farage and Reform UK, declaring them the “single greatest threat” to Britain’s way of life and living standards.
UK government sets timetable for next wave of rail renationalisation
Greater Anglia, West Midlands Trains and Govia Thameslink will be renationalised by May 2026 as the UK pushes ahead with bringing the rail network back under public control.
Slump in job vacancies stokes UK recession fears as Labour conference looms
Britain’s labour market is showing signs of strain, with new data revealing a fall in job openings and growing pessimism among businesses, fuelling fears that the economy may be sliding towards recession.
