Japanese car maker Nissan has announced plans to cut roughly 10% of its European workforce, with the precise impact on UK operations unclear.
Dubai's Department of Economy and Tourism launched the 'Dubai Invite' scheme, offering residents benefits worth over 3,000 AED to attract friends and family, aiming to revive tourism numbers that plummeted after the city was drawn into the US-Israel war on Iran, leading to hotel vacancies and revenue declines.
Oil prices surpassed $100 a barrel for the first time in two months due to escalating Middle East conflict, particularly Houthi attacks on Saudi oil tankers and rising US-Iran tensions over Red Sea and Strait of Hormuz oil flows.
Greater Manchester Mayor Andy Burnham announced a 20% business rates discount for pubs, social clubs, and live music venues, drawing praise from some industry figures but criticism from other High Street businesses and calls for broader VAT reform.
easyJet reported a 70% slide in Q2 pre-tax profits to £85m, primarily due to a £105m increase in fuel costs from the Middle East conflict and a trend of later customer bookings. The airline's agreed £5.7bn takeover by Apollo Global Management faces potential EU ownership rule scrutiny.
Andy Burnham's administration will cut business rates by 20% for nearly 32,000 pubs, clubs, and live music venues in England from April, as part of a £10m package to support high streets and ease cost of living pressures. The initiative will be funded by reviewing relief for businesses deemed not to contribute positively to communities.
Drop-off fees at major UK airports have increased by an average of a third since last summer, with London Gatwick and Stansted charging £10. While airports cite congestion management and climate objectives, the RAC and business groups criticize the rising costs for drivers and companies.
