Finance

705
Italy fines Shein €1 million for false claims about “eco‑friendly” clothing
Chinese fast fashion retailer penalised month after €40m fine from French regulator in July
780
Trump tariffs deter UK SMEs from exporting to US, survey finds
Research suggests that trade tariffs imposed by US President Donald Trump have impacted the willingness of smaller companies to export.
947
ICG strikes £200m agreement to buy three major UK regional airports from Rigby Group
The infrastructure arm of ICG, which is listed in London, will announce the acquisition of three regional UK airports from Rigby Group later this month.
1162
Yorkshire Water CEO received £1.3m in hidden pay via offshore parent company
The company states that additional payments related to work for Kelda Holdings were covered by shareholders, not bill payers.
875
Heathrow to unveil £49bn airport overhaul despite criticism from environmentalists and local residents
Heathrow Airport has unveiled details of its project to expand and modernize the airport at a cost of £49 billion.
606
Mass exodus from NASA: the agency will lose a fifth of its team
Approximately 20% of the employees at the U.S. National Aeronautics and Space Administration are expected to leave the space agency, a NASA spokesperson stated on Friday.
784
New Zealand authorities will destroy the network of crypto ATMs: a blow to shadow transactions
New Zealand’s Ministry of Justice is poised to prohibit crypto ATMs as part of an extensive overhaul of the country’s anti-money laundering and counter-terrorism financing (AML/CFT) framework.
1112
Mass layoffs: Samaritans wants to close half of its offices in UK and Ireland
The Samaritans intend to shut down over 100 branches throughout the UK and Ireland.
919
River Island nears collapse as hundreds of jobs hang in the balance
Prominent high street fashion retailer River Island is nearing collapse, with hundreds of people expected to lose their jobs "within weeks".
683
£38 billion for nuclear independence: Britain launches the Sizewell C megaproject
The government has announced the construction of the Sizewell C nuclear power plant in Suffolk will cost around £38 billion, as it struck a deal with a group of investors.
894
Jaguar Land Rover to cut 500 UK jobs in blow to Keir Starmer’s pledge to protect workers
Luxury car manufacturer Jaguar Land Rover is eliminating up to 500 management positions in the UK, an action described as a ’personal embarrassment’ for Prime Minister Keir Starmer.
960
Clintons has closed 38 stores, cutting over 300 jobs in a year of downsizing
Clintons shuttered 38 stores, resulting in the loss of over 300 jobs in the past financial year.
739
Thames Water spent £2.5 million from emergency loan on executive bonuses — and refuses to pay it back
Funds were disbursed from a loan intended to stabilize the company’s finances weeks before it halted the retention payments plan.
745
Santander to acquire TSB for £2.65 bn — third change of ownership in 12 years
Purchase would be third major ownership shake-up for high street lender in 12 years
904
Chancellor Reeves may slash the tax‑free limit on cash ISAs by a quarter — banks warn small savers will be hit
Chancellor Rachel Reeves is expected to announce a cut to the annual tax-free cash Isa allowance.
794
In the UK, the largest drop in housing prices in over two years has been recorded
Increase in stamp duty has helped weaken demand, as average price drops by 0.8% in June, says Nationwide
982
Tourists scammed out of money through Booking.com: how the fraud scheme works
Holidaymakers are being warned about a Booking.com scam that has already cost victims a total of £370,000.
752
Scammers switch from Huione Guarantee to Tudou — the new hub for USDT fraud on Telegram
Merchants immediately moved to Tudou Guarantee, a rival in which Huione owns a 30% stake.
1549
Defence budget in the UK to rise sharply as Starmer unveils new military strategy by 2035
Keir Starmer will pledge to increase defense spending by billions more within the next decade – just months after his last major commitment.
800
In the event of a war with Europe, Russia could cause a drop in global GDP of $1.5 trillion — Bloomberg
Bloomberg Economics reports that a full-scale Russian war against Europe could decrease global GDP by $1.5 trillion.
954
"Design revolution": outrage in Britain over £532,000 spent on a new dot in the Gov.uk logo
Critics have accused the government of spending over half a million on a ’vanity’ project to revamp the website.
779
TfL fines Lime and Forest more than £30,000 for abandoned e‑bikes
E-bike firm warns London has fallen behind Paris in setting rules for hire bikes
675
Fuel prices in the UK to rise by 5 pence due to oil panic amid Israel–Iran conflict
Oil price increase likely to add 5p to petrol and diesel over the next couple of months, expert says
733
Taxes rising: government expects a 5% annual increase on every local services bill
Documents in the Spending Review suggest that council tax is projected to increase by 5% annually to fund local services.
920
Britain’s economy has shrunk — Reeves does not rule out another round of tax rises this autumn
Chancellor Rachel Reeves has not dismissed the possibility of future tax increases following the UK economy’s worst contraction in a year and a half in April.