Also in the news...
UK seeks business views on response to US tariffs
Government begins process seeking business views on response to US tariffs
UK/Viet Nam: Free Trade Agreement
This treaty was presented to Parliament in April 2025.
How AI Is Fueling Creative Innovation for Startups Abroad
When most people think about starting a business overseas, their minds immediately jump to logistics: registering the company, navigating local laws, and finding office space. But one of the most exciting (and often overlooked) aspects of expanding internationally is tapping into the global pool of innovation especially in the realm of artificial intelligence (AI).
Support for UK businesses helping to rebuild Ukraine
Department for Business and Trade (DBT) initiatives to support UK businesses helping to rebuild critical infrastructure in Ukraine.
Now is the time to generate growth together with India
£400m of trade and investment wins from UK-India Economic and Financial Dialogue set to boost the British economy.
Economic Apprehension Triggers Plunge in Sterling
Not since 1985 has the pound plummeted to its lowest level against the dollar, triggering economic woe and ambivalence about the governmentÂ’s banking support package.
RICHARD BROOKER
Not since 1985 has the pound plummeted to its lowest level against the dollar, triggering economic woe and ambivalence about the governmentÂ’s banking support package.
Furthermore, the pound sterling fell another 1.6% against Britain’s predominant trading partners, meaning its losses are nearly 6% since Friday. Juxtaposed with the dollar, the pound apprehensively closed at $1.3733, which is a decline of 11 cents. However, this was not the only bad news facing Britain this week, as unemployment escalated to a decade-high of 6.1% according to new official figures. Government borrowing has nearly doubled that of the last financial year to a colossal £71.2 billion, its highest precedent.
It has also been speculated by Robert Stheeman, who is responsible for overseeing national debt, that we should anticipate a government bond auction failing in the near future. Rumours would suggest that the fragility of the sterling is goading people to invest in gilts due to inexpensiveness.
Paul Myners, financial services secretary to the Treasury, is insistent that current government policy does not suggest a slow nationalisation of banks. He stated that banks are "best owned and managed commercially." This statement is made in the midst of British MPs urging for the nationalisation of the Royal Bank of Scotland and the Lloyds Banking Group.