Business news 2 October 2025

Confidence across global markets contrasted sharply with pressures at home today. UK equities hit record highs, but small businesses face fresh tax burdens, rising costs, and more closures ahead. The Government is under fire over stealth taxes and new levies on food, while insolvency notices continue to stack up.

James Salmon, Operations Director.

Top stories for SMEs

Pubs warn of cash crisis
Shepherd Neame’s CEO Jonathan Neame blasted “bad policy” for piling costs on pubs — from minimum wage hikes to packaging taxes. The BBPA warns over 2,000 pubs could shut in 2026.

The 60% tax trap widens
Nearly 700,000 higher earners are caught in the frozen income tax “trap,” with more to come if freezes extend. Business groups warn this stealth tax will sap demand from already squeezed households.

AI before accountants
64% of UK firms now consult AI chatbots before speaking to their accountants, with many accountants having to correct misleading advice. Pressure is mounting on professional services.

eBay launches £3m AI fund for SMEs
The new ‘AI Activate’ initiative will give 10,000 small businesses free access to AI tools and training for a year, aiming to boost productivity and competitiveness.

Manufacturing downturn deepens
PMI dropped to 46.2 in September, its lowest in five months, with orders collapsing and Jaguar Land Rover hit by cyberattacks. Job cuts continue across the sector.

DoorDash swallows Deliveroo
America’s food delivery giant will acquire Deliveroo for £2.4bn, tripling its business outside the US. The move reshapes the UK delivery sector and could ripple into restaurants and hospitality supply chains.

Taylor Wimpey reassures on housing
The housebuilder forecasts 10,400–10,800 completions this year, confident in long-term demand despite tax worries and near-term pressures.

Thames Water creditors propose rescue
Senior creditors will inject £5.4bn into Thames Water and write off 25% of debt in a last-ditch plan to win regulator approval.

Market snapshot

FX: GBP/USD 1.3500; EUR/USD above 1.1750; Dollar Index weak at 97.5

FTSE 100: 9,435.74 (−0.1%) after Tuesday’s record close and an intraday record high. Mining +1.1%, Healthcare +1%, Tech −0.4%

Stoxx 600: +0.6% at new record high; DAX +0.8%, CAC 40 +0.7%

S&P 500: record close 6,711.20 (+0.34%), 29th record of 2025

Dow Jones: 46,441.1 (+0.1%)

Nasdaq: 22,755.2 (+0.4%)

Commodities: Copper $10,491/t (+1.2%); Brent $65.51; WTI $61.92; Gold $3,870/oz (just below record)

Theme: The overarching themes are record highs across equity markets driven by pharmaceutical sector strength and Fed rate cut expectations, while the ongoing US government shutdown continues to weigh on the dollar and support safe-haven assets like gold.

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Today’s insolvencies

Administrators appointed

  • Dendra Systems Ltd
  • Melior Labs Limited
  • Prax Exploration & Production PLC
  • Premier MBP Limited

Liquidators appointed

  • 51 Coffee Ltd
  • Apptio Europe Limited
  • Attune Partners UK Ltd
  • Bagnall & Woodward Electrical Contractors Limited
  • BAE Systems (Funding Three) Limited
  • Beaumont T M Limited
  • Bedford CIT Limited
  • Carina Renewable Limited
  • Charterhouse General Partners (VIII) Limited
  • Code Completion Ltd
  • Demand Karma Limited
  • Digital Services (UK) Limited
  • Forcepoint Cloud Limited
  • Henderson European Trust PLC
  • Horologics Co. Limited
  • iSmash Canary Wharf Limited
  • Luskentyre Limited
  • Malcolm Clarke (Steel) Hollinwood Limited
  • Nigel Benwell Strategic Planning Limited
  • Oniqua Europe Limited
  • Ophir (Indonesia South East Sangatta) Limited
  • Opus Park Management Limited
  • PK Holdings Ltd
  • Reidspeed Properties UK Ltd
  • Teva UK Holdings Limited
  • Tiger Global Corporate UK Ltd
  • Tiger Global Services UK LLP
  • Zais Group (UK) Limited

Winding up petitions

  • B S Living Ltd
  • Iris Trading Ltd
  • KJV Limited
  • Lighting Visions Limited
  • SSS Engineering Services Ltd
  • Valesco Private Clients Ltd
  • YYC Portfolio 2 Ltd