British companies are spending less on AI and seeing weaker returns than global leaders, with PwC warning the next 12 months are critical for UK firms to close the gap. Read more: UK firms risk being left behind as AI adoption gap widens, warns PwC
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Entrepreneurs are urging the Treasury to introduce a capital gains tax deferral for founders who reinvest exit proceeds into new UK ventures within 12 months, as lobbying intensifies around repeat entrepreneur relief. Read more: Founders push for ‘repeat entrepreneur relief’ to keep exit capital flowing back into UK start-ups
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OpenAI has signed a lease on an 88,500 sq ft King’s Cross office with capacity for 544 staff, signalling plans to more than double its UK workforce even after scrapping its Tyneside data centre project. Read more: OpenAI doubles down on London with first permanent office despite Stargate U-turn
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British business confidence has plunged to its lowest since the first Covid lockdown as the Iran war drives up energy costs and forces firms to shelve hiring and investment plans. Read more: UK business confidence crashes to Covid-era lows as Iran conflict forces firms into survival mode
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The OECD has called on Chancellor Rachel Reeves to launch an in-depth review of Britain’s “inefficient” tax system, warning distortions and loopholes are throttling investment and growth. Read more: OECD urges reeves to overhaul ‘inefficient’ UK tax system
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Google has launched an AI-powered restaurant booking tool in the UK, pulling real-time availability directly into search and threatening platforms like OpenTable. Read more: Google takes on Opentable with AI that books your dinner in seconds
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UK retail footfall rose 2.4% in March as Easter drew shoppers back, but the BRC warns April tax rises, wage hikes and fuel costs threaten high street recovery. Read more: Easter lifts footfall but retailers brace for April cost squeeze
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SDCL Efficiency Income Trust (SEIT) has abandoned its rescue plan and opted for a managed wind-down after pressure from activist Saba Capital, leaving retail investors nursing potential losses of more than 50 per cent on £1.1bn raised. Read more: Retail backers of SEIT face wiping out half their money as green trust raises the white flag
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OpenAI has paused its Stargate UK data centre investment, citing sky-high British energy prices and copyright uncertainty, in a blow to Labour’s AI superpower ambitions. Read more: OpenAI pulls plug on Stargate UK, leaving Starmer’s AI superpower pitch in tatters
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Jordan-rooted, AI-focused VC Propeller has launched the first cohort of its Kernel Camp residency, bringing five deep-tech startups from MENA to…
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