6 h. ago UK grocery watchdog investigating Amazon over alleged supplier payment delays; company insolvencies jump – business live

Groceries Code Adjudicator calls on suppliers to share their experiences of working with AmazonThe number of companies collapsing across England and Wales jumped last month, in a sign of the economic pressures hitting firms.There were 2,238 company insolvences in England and Wales during the month, which is 8% higher than in April and 15% more than in May 2024.“This latest rise in corporate insolvencies reflects the harsh reality many businesses face: fragile demand is not keeping pace with rising costs. Even the increasingly-likely prospect of rate cuts in August won’t do much to fix this – insolvency levels will remain elevated for the foreseeable future.“Sectors like hospitality are having a particularly challenging time in this environment, in no small part due to the impact on labour costs of April’s National Insurance and minimum wage increases. These businesses are now approaching what are some of their peak months and will be hoping for strong trading to bolster their resili...

Economics

44 h. ago German insurer Allianz slashes 650 British jobs amid 'higher claims costs and softening market conditions'

Allianz employs around 6,000 people in the UK at sites including its Guildford headquarters and a legal protection office in Bristol.

Economics

49 h. ago Tariffs are already making your health insurance costs go up

Health insurance research professor says there is a ‘perfect storm of factors’ driving prices up

Economics

57 h. ago AO World looking to automation and offshoring in face of wage cost surge

The group is set for around an extra £8 million a year in costs from April’s higher national insurance contributions and minimum wage rise.

Politics

3 d. ago Premium insurance demand surges across the world amid travel disruptions

Travel disruptions around the world have risen for various reasons due to Covid-19, extreme weather, and conflicts

Politics

8 d. ago UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – business live

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record closeFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, t...

Economics

8 d. ago Largest ever plunge in UK exports to US as Trump tariffs hurt growth; dollar hits three

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumpedFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, to allow still troubling earnings growth ...

Politics

2 w. ago Cancer patients ‘priced out of travel’ due to insurance costs

One patient has described travelling without insurance after being quoted £3,000 for cover.

Science

last month Expensive Dog Breeds 2025: Here are the 10 most costly types of adorable dog to insure

You’ll need to budget a little extra for insurance if you cheese to add one of these breeds to your family.

Politics

last month UK inflation jumps higher than expected to 3.5% amid bills increase

Annual rise in April follows upturn in national insurance contributions and higher household costsInflation jumped in April by more than expected to 3.5% after dramatic increases in water bills, energy costs and council tax, according to official figures.A rise in employer national insurance contributions and a boost to the national minimum wage also put pressure on companies to raise prices last month by more than City analysts had forecast. Continue reading...

Economics