The Unite union is pressuring the UK government to award a £2.4bn military satellite contract to European manufacturer Airbus, rather than US rival Lockheed Martin, to protect up to 600 jobs in Stevenage and Portsmouth. The decision is seen as a test of Labour's pledge to back British industry.
A UK press review highlights Andy Burnham's "Number Ten North" plan, potential North Sea oil drilling, a convicted fraudster's cryptocurrency betting linked to Nigel Farage, and warnings about AI models going rogue.
Prime Minister Andy Burnham and senior ministers are establishing "No 10 North" in Manchester, a new Downing Street branch intended as a dominant economic driver. While welcomed, civil servants express concerns over relocation and the initiative's permanence.
UK Prime Minister Andy Burnham announced a 20% cut to business rates for pubs, clubs, and live music venues to ease the cost of living crisis. The policy, costing £100M annually, is the third since his Monday appointment, aiming to save 32,000 hospitality businesses £1,100/year.
The British army cancelled planned training in Kenya after the Kenyan government refused to ratify a defence agreement, seeking greater accountability for British soldiers. Negotiations are ongoing regarding jurisdiction and payment, impacting economic activity and the UK-Kenya defence partnership.
Andy Burnham, the new UK Prime Minister, has appointed several prominent critics of his predecessor Keir Starmer to top government positions. This move follows Starmer's erosion of power and subsequent ousting, with figures like Anas Sarwar, Ed Miliband, John Healey, and Wes Streeting now receiving promotions after publicly challenging the former leader.
Major carmakers, including BMW, Ford, Nissan, and Toyota, privately lobbied the UK government to revoke the 2035 ban on new petrol and diesel car sales, advocating for an "open technology approach" that includes hybrids and sustainable fuels. Campaigners and Polestar criticized the move, while the government reiterated its commitment to the ban.
Anas Sarwar has resigned as Scottish Labour leader to become a peer and minister in Andy Burnham's UK government, drawing strong criticism from SNP and Scottish Greens for alleged hypocrisy and lying to voters, while surprising many within his own party.
Downing Street is offering relocation packages to civil servants moving to the North as No 10 North opens in Manchester, led by Louise Haigh. The initiative aims to devolve power and boost the UK's economy, with a new Digital Campus planned for 2032.
A consortium of Thames Water creditors, London & Valley Water, has offered the UK government a "golden share" in a revised rescue package. This move aims to grant greater public control and prevent nationalisation by Prime Minister Andy Burnham, who is reportedly considering temporary public ownership.
JP Morgan CEO Jamie Dimon warned Andy Burnham that raising bank taxes could jeopardize the bank's £3bn London headquarters project and deter investment from Britain. Dimon, a long-standing critic of the UK's bank tax surcharge, emphasized the adverse consequences of penalizing companies.
The UK government borrowed less than expected in June, reporting £16bn, £7.9bn less than forecast. This comes as new Prime Minister Andy Burnham announced plans to cut VAT on household electricity bills, funded by cancelling the digital ID program, signaling a new economic direction.
British flying taxi startup Vertical Aerospace announced the UK government's interest in a military version of its eVTOL aircraft, following a £10m grant. The company demonstrated its prototype at Farnborough Airshow, showcasing its transition from conventional to vertical flight, as it pursues certification for passenger flights by 2029.
UK government contractor Mitie has agreed to a £3.1bn cash takeover by private-equity owned rival OCS Group, ending its nearly four decades on the London stock market. The deal, recommended by Mitie's board, offers a 46.8% premium to shareholders.
Thames Water's main lenders propose a "golden share" for the government and greater local authority control to prevent nationalisation, after a previous rescue deal was rejected. The new offer includes additional funds, but lenders warn of a multi-billion-pound bill if the company is fully nationalised by the new Andy Burnham-led government.
UK government borrowing in June was £16bn, slightly below forecasts, as new Prime Minister Andy Burnham announced VAT cuts on electricity bills. Despite this, public finances remain fragile, and high debt levels persist, while the unemployment rate held steady at 4.9%.
Andy Burnham's new UK government inherits a struggling Foreign Office and aid budget, facing urgent calls to define a long-term global strategy after years of cuts and restructuring. Experts warn of diminished influence and institutional capacity without clear priorities.
CuspAI, a Cambridge-based AI startup, secured $450m (£330m) in Series B funding from investors including Jeff Bezos and the UK government, valuing it at $2.6bn. The company aims to develop AI-powered software to discover new materials, reducing research times and reliance on rare metals for chipmakers and other industries.
The UK government admitted its outsourced civil service pension scheme, run by Capita, failed, leaving thousands, including a 98-year-old and a young widow, in financial hardship. The Cabinet Office plans to bring the scheme back in-house due to "unacceptable" service levels and missed targets.
Rolls-Royce has transformed from a "burning platform" in 2023 to reporting a 40% profit surge for 2025, driven by resolving persistent durability issues with its Trent engines and increased demand. The company is also exploring re-entry into the narrowbody jet engine market and benefiting from AI datacentre generator demand.
UK government departments and major media organizations like the BBC and Channel 4 are increasingly decentralizing operations from London to regional hubs. This shift, exemplified by the BBC's successful move to Salford, aims to devolve power, create regional opportunities, and foster economic growth, despite initial skepticism and some challenges.
Chinese firm Jingye Group is demanding compensation from the UK government for investment losses following the nationalisation of British Steel, stating the move damaged credibility and international investment rules. Jingye has initiated negotiation procedures and reserves the right to international arbitration.
China condemned the UK's nationalization of British Steel, expressing strong dissatisfaction and warning it damaged Chinese companies' investment confidence. The UK government took operational control of the Scunthorpe plant to protect jobs and national capability after owner Jingye considered closing blast furnaces.
The UK government nationalized British Steel, previously owned by China's Jingye Group, 15 months after intervening to prevent its closure. China's Ministry of Commerce expressed strong dissatisfaction, stating the move severely undermines Chinese companies' confidence in UK investment and threatens legal action.
