U.K. Business News: Markets, Economy & Industry Updates
Head of the fiscal watchdog resigns after premature leak of Budget documents
The chair of the Office for Budget Responsibility (OBR) stepped down after it emerged that key Budget and forecast documents were released online before the formal announcement, causing political controversy and questions around oversight.
Jamie Laing's Candy Kittens to acquire UK snack brand Graze
Jamie Laing’s Candy Kittens is set to acquire snack brand Graze in a new deal with Unilever.
Police consider manslaughter charges in Post Office scandal.
Police are thinking about charging people with corporate manslaughter in the Post Office Horizon disaster
Car-sharing company ZipCar to end UK operations
Zipcar, a car-sharing service, has announced that it would stop operating in the UK by the end of the year
Vapes still causing fires despite ban, major waste firm says.
A major firm warns that wrongly discarded vapes are still causing fires in its trucks and facilities, six months after disposable vapes were banned.
Tax rises and tighter spending to hold back UK growth, OECD says
The OECD says that more taxes and less public investment in the UK will slow down economic development in the next several years, which will hurt household incomes and consumer purchasing. It predicts that GDP growth would slow from roughly 1.4% in 2025 to 1.2% in 2026. Inflation will stay high across the G7, and fiscal tightening will be bad for the economy.
Green biotech firms to open factories at Grangemouth; Oracle shares tumble 15% after results disappoint – as it happened.
Two green biotechnology firms announced plans to build factories at Grangemouth in Scotland, backed by UK and Scottish government funding to create jobs following the closure of the local oil refinery. Meanwhile, Oracle’s shares plunged about 15% after its quarterly results disappointed investors, with revenue missing estimates and heavy capital expenditure plans fueling tech market concerns.
