Business

Karachi: Meezan Bank, Pakistan’s leading Islamic bank and one of the largest banks in the country, has been awarded the top distinction at the 40th Corporate Excellence Awards hosted by the Management Association of Pakistan (MAP). With this recognition, the Bank has maintained its standing as the ‘Best Company in the Financial Category’ for the fourth consecutive year. The ceremony, …

The UK’s electric vehicle market hit the brakes in November, delivering its weakest growth in almost two years as the Chancellor’s looming pay-per-mile tax sowed uncertainty among buyers, and left Tesla nursing the sharpest fall in registrations. New figures from the Society of Motor Manufacturers and Traders (SMMT) show that just under 40,000 battery-electric vehicles (BEVs) were registered last month …

Ocado has claimed a rare financial win after US grocery giant Kroger agreed to pay the British retail-tech group $350 million (£276m) in compensation, even as it scrapped another of the automated warehouses built around Ocado’s much-touted robotic fulfilment technology. Shares in the FTSE 250 company jumped as much as 16% in early trading on Friday before settling nearly 7% …

One of Britain’s biggest DIY investment platforms has warned that prolonged budget speculation inflicted real financial damage, after savers rushed to drain about £600 million from their pensions amid fears Rachel Reeves would slash tax-free lump sum rules. Michael Summersgill, chief executive of AJ Bell, said months of rolling briefings and hints of a tax raid had prompted thousands of …

British businesses shed staff at the sharpest rate in more than three years in the run-up to Rachel Reeves’s second budget, as months of swirling tax speculation paralysed hiring decisions and pushed employers into contraction mode. New figures from the Bank of England show private-sector employment fell by 1.8% in November – the steepest monthly drop since July 2021. Finance …

A Labour minister has delivered a startlingly candid assessment of life for young people in Britain, declaring that for many, “life is s**t”. Josh Simons, the parliamentary secretary for the Cabinet Office and co-founder of the Labour Growth Group, made the frank remark on X in response to new analysis highlighting the soaring costs of housing and raising a family. …

Netflix has agreed a £54 billion deal to buy Warner Bros, setting the stage for one of the biggest and most transformative mergers the entertainment industry has ever seen. The streaming giant confirmed on Friday that it had reached a $72 billion agreement to acquire Warner Bros Discovery’s storied film and TV assets, including HBO — the home of Succession, …

Barclays Eagle Labs and Sustainable Ventures launch National Climate Tech Accelerator to supercharge UK’s green innovation economy The UK’s climate tech sector is set for a major boost as Barclays Eagle Labs and Sustainable Ventures officially launch the National Climate Tech Accelerator (NCTA) — a nationwide programme designed to fast-track the growth of the UK’s most promising climate and sustainability …

A global race for AI supremacy may now hit consumers squarely in the wallet, with experts warning that laptops, consoles and even everyday business tech could rise in price by £300 or more after OpenAI tied up a vast share of the world’s memory chip supply. Over the summer, a 32GB memory kit retailing at around £100 jumped to more …

HMRC’s newly strengthened tax informant reward scheme — unveiled in last month’s Budget and launched with immediate effect — is facing an early backlash from business owners who warn it could trigger a wave of malicious claims and cost the Revenue far more than it recovers. The scheme gives HMRC the power to pay informants 15–30% of additional tax recovered …