North Sea windfall tax causing ‘irreversible damage’ says oil giant May 27, 2025 The boss of Enquest has slammed the windfall tax on oil and gas firms as doing “irreversible damage” to the industry and “driving job losses across the sector”. Amjad Bseisu, Enquest’s chief executive, called for the North Sea tax to be scrapped in an operations update on Tuesday after claiming it makes the UK a [...]
UK-EU deal triggers strategic AI partnership May 27, 2025 A new initiative has been launched to enhance AI collaboration across Europe, building on the recent agreement between the UK and the EU. This partnership invites leading UK public research organisations to apply to become the UK’s gateway to Europe’s most advanced super-computing facilities, which are crucial for accelerating AI breakthroughs. Strengthening ties through AI [...]
Starmer plays a risky game on welfare reform May 27, 2025 Rightly or wrongly, Labour decided that the first signal they should send as a new government was that they wouldn’t duck tough economic decisions. The cut to the winter fuel allowance was offered up as the ultimate proof of their seriousness; politically difficult but, we were told, financially necessary. A direct line was drawn between [...]
Company bosses hit pause on growth plans after tariff shock May 27, 2025 Top UK business leaders have sounded the alarm on geopolitical tensions, warning that trade uncertainties are threatening their growth prospects. Nearly half of UK chief executives admitted to being “very or extremely concerned” about the impact of tariffs on their company’s operations and sales in the upcoming year. Concerns have led to company chiefs slamming [...]
BYD: Chinese EV stocks tumble despite spike in UK demand May 26, 2025 Shares in Chinese electric vehicle (EV) makers slumped on Monday despite surging interest from UK buyers, as industry titan BY introduced a round of new price cuts in an already bruising market battle. Hong-Kong listed BYD dropped as much as 8.25 per cent from a record high set last week, after an announcement over the [...]
Was Rayner’s leaked memo an early play for party leader? May 26, 2025 Rayner's 'leaked' memo was a reminder that she is cut from different stuff than our iron Chancellor, but was it strategic, asks Eliot Wilson.
As Labour chases Reform, they’re bleeding votes on the left May 25, 2025 Just two weeks after Reform UK’s local election triumph, the government announced a major crackdown on immigration. But while Labour scrambles to neutralise the threat from the right, it risks losing another, just as substantial, cohort to its left, argues Fonie Mitsopoulou. The electorate doesn’t love Labour at the moment. Recent polls indicate that of [...]
Netanyahu attacks Starmer for siding with ‘mass murderers’ May 23, 2025 Israeli Prime Minister Benjamin Netanyahu has accused the UK, France, and Canada of being “on the wrong side of humanity” and claimed that their recent statements criticising Israel suggest “they want Hamas to remain in power.” Netanyahu also claimed Prime Minister Keir Starmer, French President Emmanuel Macron, and Canadian leader Mark Carney have taken the [...]
Week in Business: Will Starmer sack Rachel Reeves? May 23, 2025 Cracks are appearing in Labour's economic strategy - will Keir Starmer roll the dice and look for a new Chancellor to change course?
UK net migration almost halves in 2024 May 22, 2025 Net migration was cut in half in 2024 as 431,000 people arrived in the UK, official data has shown, suggesting Tory-era policies have had some of their desired effects. The Office for National Statistics (ONS) said fewer people arrived on work and study-related visas while an increase in Brits leaving the UK also reduced net [...]