Business

When people think about London’s economy, manufacturing is not usually the first sector that comes to mind. Yet more than 14,000 manufacturing businesses operate across the capital, many of them micro or small enterprises concentrated in a number of clusters across the city such as Park Royal (West London), Brimsdown Industrial Estate (North London) and Maker Mile (Hackney, East London). …

Peter Mandelson’s advisory firm has cut off his voting rights and dividend payments after damning emails revealed the extent of his ties to Jeffrey Epstein. Global Counsel — the high-powered advisory firm Mandelson co-founded in 2010 — has moved to sell the Labour peer’s 21% stake and reclassified his shares so that he no longer has any influence over company …

Jeremy Hunt has accused Rachel Reeves of dragging Britain into “stagnation and decline” by raising taxes, warning that the Chancellor’s policies risk smothering the entrepreneurial drive the country needs. Writing for Conservative Home, the former Chancellor said it was now “all but nailed on” that Reeves will raise taxes by £30bn in November’s Budget — pushing the overall increase in …

Manufacturers supplying Britain’s defence, automotive, aerospace and construction sectors have warned that businesses will collapse after government-approved energy charges are set to double. From October 1, standing charges and levies on industrial electricity bills will begin to rise sharply, with the full increase landing in April. Energy brokers said non-commodity costs – the fees for using the grid and funding …

HM Revenue & Customs has relaunched a controversial scheme giving it the power to take money directly from people’s bank accounts – including cash Isas – if they repeatedly fail to pay their tax bills. Under the Direct Recovery of Debts (DRD) programme, banks and building societies will be forced to hand over cash owed to the taxman from anyone …

JD Sports has warned Rachel Reeves against any fresh hikes in employment costs, saying further increases would cripple competitiveness and drive youth unemployment higher. Chief executive Régis Schultz said the Chancellor’s last budget had already piled pressure on retailers by raising staff expenses, creating “tension around unemployment”. He urged Reeves not to repeat the move in November’s Budget. “We’re starting …

Karachi: Former Prime Minister of Malaysia, H.E. Tun Dr. Mahathir Bin Mohamad, reflected on the deepening ties between Pakistan and Malaysia and underscored the enduring and evolving relationship between the two countries. He emphasized that the foundation of strong bilateral ties lies in shared values, mutual respect, and collaborative efforts across sectors. In a special video message, Dr. Mahathir extended …

Revolut has pledged to invest £3 billion in the UK over the next five years in a move that will create 1,000 new jobs, strengthening the country’s status as a hub for global financial services. Chancellor Rachel Reeves hailed the announcement as a “vote of confidence in Britain” as she formally opened the fast-growing digital bank’s new global headquarters in …

The Department of Health and Social Care (DHSC) has spent more than £3.6 million on laptops, tablets, and mobile phones over the past three years as part of its push to modernise remote working and support digital transformation across the sector. Figures obtained through a Freedom of Information request show the department dramatically increased its IT spending between 2022 and …

Small businesses are bracing for a major shake-up after it emerged the Treasury is considering slashing the VAT registration threshold from £90,000 to just £30,000. The move, reportedly under review ahead of the November 26 Budget, would pull tens of thousands of sole traders and small firms into the VAT system for the first time, forcing them to charge customers …