World of Business

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Jersey Businesses Squeezed as Diesel Tops £2 Per Litre

Diesel prices in Jersey have exceeded £2 per litre, squeezing profit margins for construction, tree surgery and plant hire businesses. The government proposes freezing fuel duty in 2027, but firms warn it offers limited relief against global price volatility.

5 min read

Pub landlord quits after year, blaming TV and supermarket alcohol

A Spalding pub landlord has quit after 14 months, blaming supermarket alcohol prices, changing habits and roadworks. The closure reflects a wider crisis: 27% of Lincolnshire pubs have closed since 2009, with South Holland hit hardest at 53%.

5 min read

Thames Water's Endless Crisis: Why Sector Reform Stalls as Uncertainty Mounts

Thames Water's financial crisis and the government's stalled water sector reform are creating mounting uncertainty. Credit rating agencies warn that regulatory delays could increase borrowing costs, while the company seeks £2.4 billion in additional emergency funding.

5 min read

Banks brace for tax raid in October budget as Healey weighs options

Chancellor John Healey is preparing to raise taxes on Britain's banking sector in his 28 October budget to address fiscal pressures caused by the Middle East conflict. The most likely option involves raising the bank surcharge from 3% to 8%, generating around £2.25 billion annually. Bank shares h...

10 min read

Thames Water seeks £2.4bn emergency funding to survive until late 2027

Thames Water requests £2.4bn emergency funding from creditors to avoid running out of cash by late 2026 or early 2027, as negotiations on a long-term rescue plan continue. The company has already drawn most of a £3bn lifeline and faces political pressure over bill freeze requirements.

4 min read

Congress unveils bill to investigate Wall Street executives with Epstein ties

Congress has introduced the Epstein Wall Street Records Act to compel federal regulators to investigate financial institutions and executives with ties to the late financier. The bipartisan bill follows Senator Elizabeth Warren's criticism of Barclays for inadequate responses about former CEO Jes...

5 min read

Cloudy wines and pét nat surge as supermarkets embrace unfiltered trend

Marks & Spencer's Trouble rosé marks a turning point as cloudy wines enter mainstream British supermarkets. These naturally hazy, unfiltered styles offer texture and complexity that appeals to food-focused drinkers, following the earlier surge in pétillant naturel popularity.

5 min read

Healey pledges to protect UK economy's resilience as growth beats forecasts

Chancellor John Healey has pledged to protect the UK economy's resilience when presenting his budget on 28 October, following data showing growth beat forecasts in August. The economy expanded 0.1% monthly and 2.1% annually, exceeding expectations, while the IMF upgraded its 2026 growth forecast ...

8 min read

UK economy grows 0.1% in August as chancellor prepares Budget

The UK economy expanded 0.1% in August ahead of Chancellor John Healey's Budget announcement. Growth was driven by production sectors, though services remained flat and construction contracted. The IMF praised the UK's growth prospects.

3 min read

UK minimum wage rates rise to £12.71 for over-21s from April 2026

UK minimum wage rates increased on 1 April 2026, with the National Living Wage rising to £12.71 per hour for workers aged 21 and over. Younger workers and apprentices also received increases, while enforcement action against non-compliant employers continues to intensify.

4 min read

Netflix cuts 1,000 jobs globally in largest layoff since 2022

Netflix will eliminate 1,000 jobs globally, its largest layoff since 2022, affecting 6% of its workforce as the streaming giant faces slowing growth and intensifying competition from rivals and free platforms.

4 min read

Rare banknote collection donated to Edinburgh charity shop fetches £85,000 at auction

A collection of rare banknotes donated to a British Heart Foundation charity shop in Edinburgh has sold for £85,860 at auction, with proceeds supporting heart disease research. The assemblage of almost 160 notes from around the world included specimen and trial banknotes of exceptional rarity.

4 min read