Business news 26 September 2025

The economic debate in Britain sharpened today as the Chancellor faces calls from banks and SMEs to avoid tax hikes that could stifle growth and confidence. Household incomes are falling, energy debt is climbing, and gilt markets are showing strain ahead of November’s Budget. Globally, Donald Trump’s new tariffs on pharmaceuticals rattled healthcare stocks, while TikTok’s US carve-out and Amazon’s $2.5bn FTC fine kept corporate regulation in the spotlight. Markets remain under pressure, with investors weighing valuation risks, Fed signals, and inflation data due today.

James Salmon, Operations Director.

Top Stories for SMEs 🇬🇧

💷 Bank bosses warn against tax raids

Barclays and Citi chiefs urged the Chancellor to prioritise stability, warning that higher taxes on lenders could damage London’s competitiveness. Barclays also cautioned that SME investment worth £60bn is on hold due to weak confidence and tax fears.

📉 Chancellor’s £30bn fiscal hole

Rachel Reeves faces limited options, with income tax, NI and VAT rises ruled out. Economists warn that manifesto pledges may have to give way to fiscal reality.

🎰 Gambling tax push

Over 100 Labour MPs back calls to raise gambling levies, potentially generating £3.2bn to fund the removal of the two-child benefits cap.

🛍️ £2bn hit from tourist tax

The loss of VAT-free shopping continues to weigh on UK retail, leaving Britain behind EU rivals in attracting high-spending visitors.

🏠 First-time buyers return

Stabilising mortgage rates and more flexible lending criteria are tempting delayed buyers back to the market, according to agents and brokers.

⚡ Energy debt at record £4.4bn

Ofgem data shows household energy debt has doubled since 2020, with more than one million homes lacking repayment plans. Average arrears stand at £1,716.

👨‍👩‍👧 Falling household incomes

ONS data shows a £1,400 real-terms drop in incomes last year. The poorest fifth of households saw incomes fall 7.7%.

🆔 Starmer to announce digital ID cards

The Prime Minister will propose compulsory digital ID cards for all adults to verify right to live and work, aiming to relaunch his premiership and address migration.

💷 Gilt auctions under strain

Demand at government bond sales has hit two-year lows, highlighting fiscal worries ahead of the November Budget.

Global & Corporate 🌍

💊 Trump’s 100% pharma tariffs

New US tariffs on branded pharmaceuticals, lorries and furniture take effect 1 October. Healthcare stocks tumbled, with MedTech firms hit hardest.

🎥 TikTok carve-out

Trump signed an order splitting TikTok from ByteDance, with Oracle playing a major role. US operations were valued at $14bn; ByteDance retains a minority stake.

🛒 Amazon’s $2.5bn FTC fine

Amazon will pay one of the largest settlements in FTC history, accused of deceiving customers into Prime subscriptions. The firm agreed to simplify sign-up and cancellation.

Market Snapshot 📊

• Equities:
  • S&P 500 fell for a third straight day (-0.5%), Nasdaq down 0.5%, Dow off 0.4%.
  • Stoxx Europe 600 rebounded +0.4%, CAC 40 +0.7%, DAX +0.3%, FTSE 100 +0.3% (9,240).
  • MSCI All Country World Index slipped 0.1%, Asian shares -0.7%.
• Commodities:
  • Gold near $3,745/oz, +2% this week; ETFs added 79,842 oz.
  • Silver above $45/oz, first time since 2011.
  • Brent crude $69.42 (+4.4% weekly gain); WTI $64.98.
  • Copper $10,289.50/ton, strongest week since April (+2.7%).
• Currencies:
  • Dollar at 3-week high; strongest week since early August.
  • GBP fell 0.77% to $1.3344, CAD weakened to 1.3942.
  • All majors down against USD; NOK weakest (-1.02%).

Key Theme: Global markets are extending their slide amid valuation worries and Fed policy uncertainty. Precious metals remain a safe-haven winner, oil is volatile on Russia-NATO tensions, and sterling weakness highlights fiscal and economic pressures.

Insolvencies ⚖️

Appointments of Administrators

• COLLISION REPAIR LIMITED
• PRO-PERFORMANCE AND RACING LIMITED
• ROBERT D. WEBSTER LIMITED

Appointments of Liquidators

• AHB IRIS LIMITED
• AMAKARI CONSULTANCY LTD
• ANIMANDO SOLUTIONS LTD
• CENTRAL VEHICLE HIRE LIMITED
• COMPACT CREATIVE LIMITED
• DARK HORSE MARKETING LIMITED
• D BALL CONSULTING LTD
• HACO LAND & PROPERTY LIMITED
• HAZAR ACTUARIAL LTD
• JW ESTATE PLANNING LTD
• LUSO LIMITED
• MANGATA CONSULTING LTD
• MIDWINTER CONSULTING LIMITED
• MMODAL LIMITED
• MURCAR LIMITED
• OPERATIONAL CHANGE MANAGEMENT LIMITED
• PPNL SPV 5 LIMITED
• PPNL SPV OF1 LIMITED
• PPNL SPV OF1-1 LIMITED
• RGL FINANCIAL PLANNING LTD
• STAR EVENTS AND PARTNERS LTD
• SVIT LTD
• VICKERY BUILDING & RENOVATIONS LIMITED
• WOODLANDS STABLES LIMITED

Petitions to Wind Up (Companies)

• 10 MARKET PLACE LIMITED
• A2B RECRUITMENT PERSONNEL LTD
• A K L TRADING LTD
• A.E.ROBERTS (FRUITGROWER & NURSERYMAN) LIMITED
• ASDC SOUTHERN LIMITED
• ATSUS NI LIMITED
• AUTOSPEC GOODS LTD
• B & H PROPERTY SERVICES LTD
• BARS HOLDINGS LIMITED
• BEST TAXI LIMITED
• BIGFOOT LOGISTICS LIMITED
• BLUEBELL HILL LIMITED
• BUDAHO SERVICES LTD
• CARE CONSTRUCTION (BRISTOL) LIMITED
• CHRIST APOSTOLIC CHURCH SURREY DOCKS LIMITED
• CONTOUR LANDSCAPES LTD
• CONNECTEED.COM LTD
• CONVIDA CATERING LTD
• CUSTOMER CARE COMPANY LTD.
• DAMA (BELFAST) LTD
• ECO PRINT EURO LTD
• ECITY COURIERS (UK) LIMITED
• FAST & LOOSE PUBS LTD
• F&L HUB LIMITED
• FINE CONSTRUCT LTD
• FIRST CHOICE PALLETS LIMITED
• GLOUCESTERHOUSE LIMITED
• GURU PIZZA LTD
• JAH FURNITURE LTD
• LEVEL SECURITY SERVICES LTD
• LICENSE TO CHILL FOODS LTD
• MAC NETWORK SERVICES LTD
• MAANYA RECRUITMENT LTD
• M4 TRUCK & VAN LIMITED
• MILLER&PAGET LEISURE LIMITED
• MIN GEMS LIMITED
• MGI ARENA MANCHESTER LIMITED
• NJI MEDIA LTD.
• NOBLE EBME LIMITED
• NORVILLE OPTICAL COMPANY LIMITED
• ONE HEALTHCARE LIMITED
• ORANGE GROVE HOTEL LTD
• PAASE DIGITAL LIMITED
• PARK WOKS LIMITED
• PARNELLS CAFE BAR LTD
• PARROT CLUB BARS LIMITED
• PHIL HEATON ASSOCIATES LIMITED
• PIER HOUSE CAFE LIMITED
• PRINCE MOTOR GROUP LTD
• REACTIVE ENGINEERING LTD
• ROONEY TRANSPORT (2018) LTD
• SANDMOORE CAPITAL LTD
• SCR SUPPORT SERVICES LTD
• SEA HALO LIMITED
• SLR SWIFT SERVICES LTD
• SQUARE PAY SOLUTIONS LIMITED
• STRYMR LTD
• STH 500 LTD
• SWITS LTD
• THE ROBERT KETT PUBLIC HOUSE LTD
• THE SPOTTED DOG LTD
• THE SURREY PUBLIC HOUSE LTD
• TLS TIKI LTD
• TOWER ELECTRICAL FIRE & SAFETY LIMITED
• T.D WHITE CONSTRUCTION LIMITED
• VISLA RECRUITMENT LIMITED
• VAULT DATA LTD
• WESSEX CONTRACTORS LTD
• WHITEWOLF STRENGTH LIMITED
• WINTERGREEN INVESTMENT GROUP LTD
• W&S CONTRACT SERVICES LTD
• ZSAH LIMITED

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