A new £29.6m government-backed RNA biofoundry in Darlington will accelerate the development of therapies for cancer, dementia, heart disease and infectious illnesses, strengthening UK life sciences and NHS innovation.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
National Wealth Fund commits £200m to UK battery storage push
The UK’s National Wealth Fund will invest up to £200m in battery storage developer Eelpower, alongside Equitix and Aware Super, to accelerate grid-scale storage and help meet clean power targets.
Dollar slips as Trump moves to sack Fed governor Lisa Cook in unprecedented clash over central bank independence
President Trump said he had “sacked” Fed governor Lisa Cook over mortgage fraud allegations, sparking a fall in the dollar and higher US bond yields as markets questioned the independence of the central bank.
West End retailers lose £310m from VAT-free shopping ban in first half of year
The end of tax-free shopping for overseas visitors has cost London’s West End £310m in the first half of 2025, with retailers warning of lost investment, job cuts and spending diverted to Paris and Milan.
Virgin StartUp launches Momentum accelerator to back dyslexic entrepreneurs
Virgin StartUp has unveiled Momentum, a free eight-week accelerator for dyslexic entrepreneurs, as new research shows founders with Dyslexic Thinking contribute £4.6bn to UK GDP and support over 60,000 jobs.
Trump administration to review 55m US visa holders in sweeping immigration crackdown
The Trump administration has announced that all 55 million current US visa holders will be subject to continuous vetting for potential violations, with visas revoked and deportations possible in cases of ineligibility.
Tom Hartley Jnr completes sale of Mansour Ojjeh’s extraordinary McLaren collection
Classic car specialist Tom Hartley Jnr has finalised the sale of Mansour Ojjeh’s unique 20-strong McLaren collection, including the final McLaren F1 ever built, preserving the ensemble as a single historic legacy.
UK firms spent up to £65m on post-Brexit food export licences last year as Labour pledges to scrap scheme
Government figures show UK businesses paid up to £65m in 2024 on EU food export licences. Labour promises to strike a new Brussels deal by 2027 to end the costly post-Brexit scheme.
Debenhams considers sale of Pretty Little Thing in bid to accelerate turnaround
Debenhams Group is exploring the sale of Pretty Little Thing as CEO Dan Finley pursues cost savings and restructuring to revive the business, with revenue down 12% despite improved ebitda.
Financial Times owner Nikkei sues Perplexity AI over copyright infringement claims
FT owner Nikkei and The Asahi Shimbun have filed a lawsuit against Perplexity AI, accusing the $18bn US start-up of copyright infringement and “free riding” on journalism without compensation.
Nearly £1bn wiped off UK retailers’ market value as Deutsche Bank ‘fear index’ warns of consumer squeeze
Deutsche Bank’s “fear index” shows UK shoppers are cutting back ahead of the autumn budget, wiping almost £1bn off major retailers’ value as inflation, tax rises and job fears hit confidence.
Britain’s top philanthropist Sir Chris Hohn condemns ‘cruel’ foreign aid cuts
Billionaire hedge fund manager Sir Chris Hohn has attacked UK and US foreign aid cuts as “cruel” after donating an extra $328m to his Children’s Investment Fund Foundation to plug funding gaps.
Business secretary to meet JCB chief over US tariff chaos
Business Secretary Jonathan Reynolds will meet JCB boss Graeme Macdonald after the digger giant warned that new US tariffs on British steel and aluminium products are causing “chaos” at American ports.
Food inflation hits 18-month high as chocolate, butter and egg prices surge
UK food inflation has climbed to 4.2% – its highest level since February 2024 – as rising prices for chocolate, butter and eggs add pressure to households already struggling with the cost of living.
Americans embrace Aldi as German discounter becomes fastest-growing supermarket in US
Aldi is winning millions of loyal US shoppers with its no-frills, low-cost model. Store visits are up 51% in five years, making the German discounter America’s fastest-growing supermarket chain.
