Whitehall drafts emergency plans as the ongoing Iran conflict threatens UK carbon dioxide supplies, with potential knock-on effects for meat producers, brewers and SME food businesses this summer. Read more: Supermarket shelves face summer gaps as Iran war threatens UK’s CO2 lifeline
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Chancellor Rachel Reeves expands the British Industrial Competitiveness Scheme by 40%, cutting electricity bills by up to 25% for 10,000 UK manufacturers from April 2027. Read more: Reeves unveils 25% electricity bill cut for 10,000 manufacturers as energy costs bite
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Thousands of importers face an open-ended wait for US tariff refunds as CBP’s new CAPE portal covers only 63% of claims. UK SMEs trading transatlantically could be owed a share of up to $166bn. Read more: US tariff refund backlog leaves UK exporters in limbo as Washington scrambles to process billions in claims
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Disney’s new CEO Josh D’Amaro is cutting around 1,000 jobs across its studio, television, ESPN and marketing divisions as the entertainment giant battles shrinking box office returns and streaming pressures. Read more: Disney to axe 1,000 jobs as new chief D’Amaro moves to streamline empire
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Norwegian-backed Blastr has entered exclusive five-week talks with the UK’s official receiver to buy Speciality Steel UK, raising hopes of a rescue for Rotherham and Stocksbridge. Read more: Norwegian green-steel start-up closes in on rescue deal for former Liberty works in South Yorkshire
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The IMF has slashed Britain’s growth forecast by 0.5 points — the sharpest G7 downgrade — as Rachel Reeves arrives in Washington with inflation nearing 4%. Read more: Reeves flies into Washington as IMF brands Britain the G7’s biggest loser
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The AA has been fined £4.2m and ordered to repay £760,000 to more than 80,000 learner drivers after the CMA ruled its driving schools breached consumer law by hiding a mandatory booking fee. Read more: AA ordered to refund 80,000 learner drivers in landmark ‘drip pricing’ ruling
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UK travel spending has dropped for the first time since 2021 as households brace for higher energy bills and the fallout from the Iran conflict, Barclays data shows. Read more: Holidays abroad take a hit as cost of living fears and Iran conflict weigh on British consumers
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HSBC chiefs warn the Iran conflict is denting global confidence, as UK bosses from Castore to Virgin Atlantic flag soaring costs, supply chain chaos and inflation risks. Read more: HSBC warns Iran war is shaking global confidence as UK business leaders count the cost
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Morrisons is putting up to 200 Bradford head office roles at risk as the debt-laden supermarket turns to AI and automation to cut costs and streamline operations. Read more: Morrisons to axe up to 200 head office jobs as AI drive accelerates
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