Soaring energy costs and fractured supply chains are set to tip Britain to the edge of a technical recession by the summer, with smaller businesses bearing the brunt of the squeeze, according to the Item Club’s latest forecast. Read more: Britain to ‘flirt’ with recession as Iran oil shock rattles SMEs
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Resolution Foundation warns typical working-age household faces 0.6% income decline as oil and gas price rises driven by Iran conflict wipe out energy cap savings. Read more: Rising energy costs from Middle East conflict set to leave UK households £480 worse off this year
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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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Britain’s private sector barely grew in March as the Middle East conflict drives up costs and dampens confidence, raising the spectre of stagflation for SMEs already under pressure. Read more: The spectre of stagflation returns as Britain’s private sector grinds to a near-halt
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UK businesses expect higher inflation and fewer rate cuts as energy prices surge following the Iran war, according to Bank of England data. Read more: Inflation fears surge as rate cut hopes fade for UK businesses
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Regions across England and Wales will receive up to £20m each to boost innovation in sectors including AI, clean energy and advanced manufacturing. Read more: Regions from Teesside to Cornwall awarded up to £20m to boost innovation
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UK firms invest less than most G7 peers, with high energy costs and low capital intensity holding back productivity and growth, says IPPR. Read more: UK business investment lags G7 rivals as energy costs bite
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Maven exits Manchester fintech AccessPay in sale to Accel-KKR, delivering a 2.5x return and highlighting strength of the Northern fintech sector. Read more: Maven exits AccessPay in private equity deal delivering 2.5x return
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UK factory costs have risen at their fastest pace since 1992 as energy prices spike, with PMI data showing growth slowing sharply and inflation risks mounting. Read more: UK factory costs surge at fastest rate since black wednesday amid energy shock
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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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