The world’s largest cosmetics group shrugs off the drag from the Iran war, posting forecast-beating first-quarter sales as European consumers treat themselves to small indulgences and China stirs back into life. Read more: L’Oréal banks on the ‘lipstick effect’ as anxious shoppers reach for affordable luxuries
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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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Vinted revenues rose 38 per cent to €1.1bn as cash-strapped consumers turn to second-hand fashion, with the UK now its second-largest market boasting 16 million users. Read more: Vinted breaks the billion-euro barrier as thrifty shoppers embrace second-hand fashion
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EY analysis reveals that raising UK defence expenditure to up to 5% of GDP by 2035 could generate £30bn a year in additional economic output and support domestic manufacturing and R&D. Read more: Higher defence spending could unlock £30bn annual boost for UK economy
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HMRC data reveals national insurance contributions have risen nearly 40% to £198bn since 2019-20, as employer NIC hikes, minimum wage increases and rising costs pile pressure on British businesses. Read more: Businesses shoulder £200 billion National Insurance bill as payroll tax receipts surge 40% since pandemic
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Marmite and other iconic brands will join US group McCormick in a £50bn deal, creating a global flavour powerhouse and raising concerns over UK jobs. Read more: Marmite and Hellmann’s to join US giant in £50bn flavour deal
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The FCA has reduced the car finance compensation bill to £7.5bn, while increasing average payouts, as lenders and consumers weigh potential legal challenges. Read more: Car finance redress bill cut by £2bn as VCA unveils final compensation scheme
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Revolut reports record £1.7bn profit and plans UK credit card launch after securing banking licence, as customer growth passes 70 million globally. Read more: Revolut posts record £1.7bn profit as it eyes UK credit card launch
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The UK government will direct £7.4bn annually to small businesses by 2028, setting new departmental targets to boost SME growth and local economies. Read more: Government sets £7.4bn target to boost SME contracts across UK
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Pressure mounts on the UK government to release £2.5bn from Chelsea’s sale as ministers prepare legal action against Roman Abramovich over Ukraine war funds. Read more: Government urged to act as £2.5bn Chelsea sale funds remain frozen
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