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The UK government is considering reforms to business rates to stimulate growth amid industry pressure and recent rate hikes. Simultaneously, policies affecting international students and university funding threaten regional economies and public finances, highlighting ongoing economic and educational tensions.
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Canadian whisky brand Crown Royal plans to shift bottling to the US, sparking political backlash amid ongoing US-Canada trade tensions. Meanwhile, UK-based AB Foods is closing a sugar plant in Hull due to falling European sugar prices and increased ethanol imports, leading to a projected £40 million loss for its sugar division this year.
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Retailers in the UK are cautious ahead of the November 26 Budget, fearing tax hikes and economic uncertainty. Industry leaders warn that upcoming fiscal policies could slow consumer spending, with recent cost increases already impacting profits and prices. Meanwhile, supply chain pressures and inflation persist across sectors.
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The US and UK are ending or delaying exemptions on low-value imports, impacting consumers and retailers. The US ended its de minimis exemption in August, raising duties on packages over $800, while the UK plans to phase out its exemption by 2029, causing disruptions for small businesses and shoppers.