International oil prices have climbed sharply, with Brent crude approaching $110 a barrel, despite President Donald Trump announcing a relaxation of restrictions on Russian oil and gas. The decision could help increase fuel supplies, but renewed fears over disruption in the Middle East are currently dominating the market.
Britain's banks are facing the prospect of higher taxes as Chancellor John Healey prepares his Budget for 28 October, with the government under pressure to raise revenue while protecting economic growth. Reports suggest the Chancellor is considering restoring the bank profits surcharge from its current rate of 3% to 8%.
The closure of familiar online retailers and the continuing difficulties facing businesses across the UK are reminders that trading successfully has become an increasingly demanding task. For smaller companies, the combination of operating costs, competitive pressure and the need to maintain a steady flow of cash can leave little room for mistakes.
Artificial intelligence is attracting billions of pounds in investment, transforming expectations for business and raising hopes of a new wave of productivity. But as spending on computer chips, data centres and AI services continues to grow, investors are asking an increasingly important question: will the profits eventually justify the enormous cost? The question became more pressing this week as technology shares came under renewed pressure on international stock markets.
Rising oil prices, expensive diesel and the prospect of higher energy bills threaten to bring another squeeze on household budgets. For rural Scotland, where many people have little choice but to drive, the consequences could be particularly severe.
With public spending under pressure and household bills still a concern, Chancellor John Healey faces difficult choices. Tax rises, help with energy costs and changes to property taxation are all in the frame, but the final package remains uncertain.
While rising energy prices and the cost of living dominate the headlines, businesses across Scotland are investing in new factories, developing medical technology and creating opportunities in advanced manufacturing. These are six examples of a different side of the Scottish economy.
A Scottish business that began with a local convenience store has developed into a national retail technology company, securing new backing from Virgin Money as demand for its services grows. While many traditional retailers are struggling with rising costs, tight margins and changing shopping habits, a Dundee-founded business is demonstrating how technology and partnerships can open up new opportunities.
Britain's discount retailers should be well placed to benefit from the cost-of-living squeeze. When household budgets are tight, shoppers look for cheaper food, cleaning products, toiletries and everyday essentials.
The proposed closure of Syngenta's chemical manufacturing plant puts 377 jobs at risk, just over a year after the company received public funding to expand production. The case raises difficult questions about industrial competitiveness, energy costs and how governments should support businesses.
The Highland distillery was built with the support of thousands of people who wanted to create something lasting for their community. Its entry into administration exposes the financial risks facing ambitious local ventures, even when the original idea has widespread public support.
A new project at the Port of Inverness could create around 70 jobs by tackling one of the less visible problems facing Scotland's renewable energy industry: what to do with wind-turbine blades when they reach the end of their working lives. Northern Ireland-based company Plaswire has signed a memorandum of understanding with the Port of Inverness to establish a facility for recycling wind-turbine blades.
More Russian oil and diesel could help ease competition for supplies from other producers. However, additional exports will take time to reach buyers, and the effect will depend on the scale of the increase and the ability to transport fuel safely.
Fake weight loss medicines worth approximately £2 million were seized last night in a raid executed by the Medicines and Healthcare products Regulatory Agency (MHRA) and West Midlands Police. On October 14, over 12,000 fake retatrutide and tirzepatide pens were seized along with packaging for around 30,000 more products.
As part of a new partnership with UKHospitality announced (15 October 2026), major employers will provide paid employment as well as work experience and training opportunities for 18 to 24 year olds who are not in education, work or training. Britain’s leading hospitality businesses including Whitbread, McDonald’s and Nando’s, commit to hiring 100,000 young people not in education, employment or training through a major partnership with UKHospitality.
In a speech 15/10/26, the Prime Minister will invite Scotland's First Minister to work with him on the common good of pushing more power out of both Westminster and Holyrood, unlocking jobs and opportunity in every region. In a speech today, the Prime Minister will invite Scotland’s First Minister to work with him on the common good of pushing more power out of both Westminster and Holyrood, unlocking jobs and opportunity in every region.
Innovation Minister Alyn Smith has confirmed £10 million investment to develop two Defence Technical Excellence Colleges (DTECs) for Scotland. Plans are underway to allocate sites in the east and west of the country to support the development of skills for well-paid careers in areas such as defence engineering, advanced manufacturing and maritime technology.
Calder Hall, the world’s first nuclear power station, marks 70 years. Decommissioning of the facility progresses, creating space for Sellafield’s future mission.
The interruption of military-grade satellite communications used by Ukraine has exposed a weakness in Western defence planning. Modern armies increasingly depend on commercial satellite networks, but what happens when the company operating them, or the government controlling access, decides that the service must be restricted? The recent disruption involving Starlink and its military counterpart, Starshield, has brought that question into sharp focus.
UK and Germany deepen defence-industrial cooperation at Lancaster House talks, building on the Trinity House Agreement and Kensington Treaty. UK and Germany strengthened defence-industrial cooperation at the latest talks at Lancaster House.