UK government moves towards full nationalisation of British Steel after buyer search fails
The UK government is preparing legislation that would allow the full nationalisation of British Steel, marking one of the biggest industrial interventions in Britain for years. Prime Minister Keir Starmer said on 11 May 2026 that ministers would take powers to bring the company fully into public
UK firms report fastest spread of cost pressures on record as inflation fears build again
British companies are seeing cost pressures spread at the fastest pace on record, according to fresh business survey data that has added to concerns over inflation in the UK economy. Reuters reported on 23 April that the latest purchasing managers’ index data showed input-cost growth accelerating
Sainsbury’s warns Iran war could hit shoppers and retailers as costs come back into focus
Sainsbury’s has warned that the conflict involving Iran could put fresh pressure on both customers and retailers, making it one of the more closely watched UK business stories this week. Reuters reported on 23 April that the supermarket expects the crisis to affect consumer spending as well as its
UK retail sales rise in March as shoppers spend more on fuel and clothing
UK retail sales unexpectedly climbed in March, giving the high street a modest boost at the end of the quarter. The Office for National Statistics said sales volumes rose by 0.4% month on month, beating expectations in a Reuters poll that had pointed to a small decline. The ONS also said sales
Bank of England expected to hold interest rates through 2026 despite rising inflation risks
The Bank of England is now widely expected to keep interest rates unchanged for the rest of 2026, even as inflation concerns build again. A Reuters poll published on 21 April found that economists expect the Bank to leave Bank Rate at 3.75% at its 30 April meeting and to hold that level through
UK moves to weaken link between electricity prices and gas costs in bid to cut bills
The UK government has unveiled fresh plans to weaken the connection between electricity prices and volatile gas costs, in a move aimed at bringing down energy bills for households and businesses. Reuters reported on 21 April that ministers want older renewable energy generators to move onto
UK economy beats forecasts with stronger-than-expected growth in February
The UK economy delivered an unexpectedly strong performance in February, with gross domestic product rising by 0.5% month on month, according to the Office for National Statistics. That was well above the forecast in a Reuters poll of economists, and it marked the strongest monthly gain since