Treasury still has £5bn to spend on Covid-19 – taking total bill to £385bn Economics The Treasury has said it still needs to spend £5bn more on Covid-19 measures more than four years after the last lockdown restriction was lifted, taking the total estimated costs to taxpayers to £385bn. In a cost tracker update on Thursday, the government said it had already spent £380bn on Covid-19 support since the pandemic [...]
Jet fuel crisis worse than Covid for airlines, says AirAsia chief Transport & Infrastructure The global jet fuel shortage caused by the Iran war has caused a bigger crisis for airlines than the Covid-19 pandemic, the chief of AirAsia has warned. Tony Fernandes, chief executive of AirAsia, said: “I thought I’d seen it all with Covid […] but having seen jet fuel go up almost three times — this is much [...]
Economic optimism slumps to lowest level since records began Economics Brits’ optimism in the state of the UK economy has fallen to the lowest level since records began in a fresh blow to Rachel Reeves, with the majority expecting the situation to get even worse. That’s according to new data from the latest Ipsos Economic Optimism Index (EOI), published the same day that the rate [...]
Britain is still paying a heavy price for Covid lockdowns March 31, 2026 Six years on from the first lockdown, Britain hasn’t returned to its pre-Covid path – instead becoming a high-tax, low-growth less free nation, says Alex Pugh A little over six years ago, 27m people watched UK Prime Minister Boris Johnson tell them to “stay home” to tackle the spread of coronavirus. Johnson said you should [...]
Former Reform MP to shut down firm after allegations dismissed September 1, 2025 A former Reform UK MP is shutting down one of the companies he was alleged to have not declared a financial interest in. James McMurdock, who now sits as the independent MP for South Basildon and East Thurrock in Essex, has applied to Companies House to have Gym Live Health & Fitness Limited struck off. The move [...]
UK’s largest chamber of commerce on brink of collapse August 7, 2025 The largest accredited chamber of commerce in the UK is on the brink of collapse after filing a notice of intent to appoint administrators. Greater Manchester Chamber of Commerce, which has around 4,000 members, has cited the Covid-19 pandemic and its aftermath for creating “sustained financial pressures” as one of the reasons behind its current [...]
Game over for Tomb Raider composer after Covid loan fraud conviction July 18, 2025 A video game composer and sound designer best know for his work on the Tomb Raider series has been jailed for fraudulently applying for a Covid loan. Peter Connelly, who is based in Durham, overstated his company’s turnover to obtain a second Bounce Back Loan of £37,500 in 2020 when businesses were only entitled to [...]
Randox: Losses widen at Covid-19 testing giant June 30, 2025 Losses have widened at Randox, which was one of the major Covid-19 testing providers in the UK, just a few years after raking in a profit of more than £200m. The Northern Ireland-headquartered business has reported a pre-tax loss of £51.8m for the year to 30 June, 2024. The loss comes after Randox posted a [...]
How sport could shape Xi Jinping’s next five-year China plan June 25, 2025 It doesn’t feel like that long ago when the world was captivated by 2,008 drummers from China opening the Beijing Olympic Games in perfect harmony. But that was a different China in a different era, and the Sleeping Dragon has been in something of a comatose state since due to a number of factors including [...]
US giant Apollo to back Hinkley Point C with £4.5bn loan June 20, 2025 US private capital group Apollo Global will back the Hinkley Point C nuclear power station with a £4.5bn loan, according to reports. The loan will be provided as unsecured debt to EDF, the French state-owned energy firm delivering the project, at an interest rate of just under seven per cent, sources told the FT. While [...]