Ikea to open new ‘small stores’ – here’s where and what you can buy there
Furniture giant Ikea is set to open a new smaller shop in a bid to become more accessible, with three new stores planned for this year.
The small store style will be located on existing retail parks, designed to offer customers a quicker shopping experience than is typically seen in their trademark giant warehouses.
An Ikea spokesperson told The Independent they expect more than 100 jobs to be created across all three sites, with the Harlow store opening its doors on 24 July and the other two set to follow later in 2025.
Karl Matchett14 July 2025 15:20
Chancellor to stick to fiscal rules: ‘Non-negotiable’
Rachel Reeves is due to give her Mansion House speech tomorrow, where there may be plenty which affects tax and more.
However, these appear likely to be business-related or wealth-tax adjacent, rather than hitting “ordinary working people”, the chancellor said.
“We’ve been really clear in our manifesto about the taxes that we won’t increase, and we’re not going to increase the taxes that working people pay, their income tax, their national insurance and their VAT, because I do recognise the struggle that ordinary working people have faced these last few years with the cost of living.”
She also added that her fiscal rules were “non-negotiable” as “they are what give working people security, around interest rates for example”.
Karl Matchett14 July 2025 14:57
Employee-owned Post Office model ‘unlikely to be considered until 2030’
Turning the Post Office into an employee-owned organisation could not be considered until 2030, the Government has revealed, as it could also scrap the 11,500-branch requirement as part of a major review into its future.
The current level of taxpayer funding for the Government-owned postal service is unsustainable, the Department for Business and Trade (DBT) said in a new Green Paper on the organisation’s future.
This sets out its views on how the Post Office should be run in the future, including possible changes to its ownership structure.
The DBT said turning the organisation into a “mutual”, whereby it is collectively owned by its members, was a possible long-term option.One version of this structure could see membership limited to postmasters and franchisees, or it could also include customers, employees and communities.
Karl Matchett14 July 2025 14:14
BrewDog co-founder plans cannabis market dominance in new venture
One of the founders of BrewDog is targeting domestic dominance with a new business, planning to invest £20m into his new medical cannabis company.
A licence was granted by the Home Office last year to cultivate medical cannabis, with the firm describing their set-up as a tech-led vertical farm, with controlled environments and sustainable operations.
Karl Matchett14 July 2025 13:15
Some comment now around the US-EU trade battle – Matthew Allen, macroeconomic expert at the University of Salford, says it could mean a transatlantic trade war.
“Donald Trump’s proposed 30% tariff on EU imports is likely to send shockwaves through global trade, with significant ripple effects for UK consumers and businesses. While the UK is no longer part of the EU, it remains closely tied to EU supply chains. Many British firms import components and goods from the EU that are later exported to the US, meaning UK businesses could be indirectly hit by this tariff hike.
“For UK exporters who operate as part of EU-based manufacturing or distribution hubs, this move could drive up costs, cause delivery delays, and disrupt established trade flows. Sectors such as automotive, aerospace, and pharmaceuticals where cross-border production is standard may be particularly exposed.
“UK consumers could also see prices rise if EU goods become more expensive or scarce in the US, prompting EU producers to redirect exports to other markets, including the UK. This could drive up competition and prices at home. Meanwhile, financial markets may respond with volatility, and businesses may be forced to reconsider investment or hiring decisions amid growing uncertainty.
“Ultimately, this tariff escalation risks reigniting a transatlantic trade war, creating further instability at a time when UK businesses are already grappling with inflation, interest rate pressures, increased employer NICs and post-Brexit realignments.”
Karl Matchett14 July 2025 12:42
Thousands of young people exploited to launder money, claims report
Thousands of young people are being exploited by criminals to launder money, The Children’s Society is warning.
Figures obtained by the charity from UK fraud prevention service Cifas indicate that 6,434 under-21s were identified last year where there were grounds to believe that frauds or financial crimes had been attempted through them.
The charity said its own research indicates some children aged 15 to 17 have experienced severe violence as a direct result of financial exploitation.
Victims are manipulated through coercive tactics such as threats against their families, financially motivated sexual extortion or “sextortion” and fears of criminal prosecution, the charity said.
It warned that exploitation often starts with seemingly minor requests such as sharing bank details or responding to “quick cash” job adverts.
Karl Matchett14 July 2025 12:15
Pub boss calls on government to overhaul ‘unfair’ business rates
The boss of pub giant Greene King has said the Government needs to overhaul business rates for the sector amid rising closures across the UK.
Nick Mackenzie, boss of the 1,500-strong pub firm, said reduced property tax payments were needed to drive investment and new jobs after swallowing recent cost hikes.
“Pubs are going to be around for the long term, but we need to address the unfairness in the system to allow them to flourish,” he said.
“It isn’t fair that the sector has 0.4% of the rateable property but pay 2.1% of the bills.
“The sector is a massive employer and incredibly important for local communities, so we just feel it is important to underline how beneficial it is to tax pubs fairly.”
Karl Matchett14 July 2025 11:50
What’s hiding in your pension? How to find out where your money is invested
These funds aim for long-term growth by spreading risk across global markets, typically including equities (like shares in companies), bonds, property, and cash. On paper, it’s a sensible, low-effort option.
A recent government report reveals 90 per cent of employees stick with their default fund.
That’s not necessarily because it’s the right fit, but because switching feels complex or isn’t front-of-mind.
Karl Matchett14 July 2025 10:48
British companies have a planning advantage over their European counterparts for the rest of summer, says AJ Bell investment analyst Dan Coatsworth.
Tariff speculation, announcements and step-backs brought a lot of volatility to markets and uncertainty to the actual businesses within them across April and May.
Now that’s expected to be the case once more for companies operating in the export sphere between EU and US.
“The week begins with tariffs once again dominating the agenda for financial markets as US president Donald Trump suggests imports from Mexico and the European Union will be hit by levies of 30% from the beginning of August,” he said.
“That has put indices in mainland Europe under significant pressure, although the FTSE 100 stood out for its more resilient performance as the UK index moved 0.3% higher. With the UK having already reached an agreement on a 10% tariff for trade with the US, with exemptions for certain industries, the country is now seen to have an advantage in terms of trade relations.
“Unlike their counterparts across the Channel, British companies should be able to operate with greater certainty around trade, and exports may be diverted through the UK. This might act as a push for foreign companies to invest in manufacturing and logistics facilities in the UK.
“The last few months have taught us that a lot can change on a daily basis, let alone over several weeks, so investors will be watching closely to see where we land by 1 August.”
Karl Matchett14 July 2025 10:11
European stocks fall on 30% tariff – but FTSE 100 rises
Stocks and indices in European countries are falling on Monday, following that earlier news of a 30 per cent tariff to be imposed by the US.
Germany’s DAX is down 0.8 per cent, France’s CAC 40 is down 0.65 per cent and the Euro is down almost 0.1 per cent against the US dollar.
But the FTSE 100 is heading in the opposite direction – up 0.2 per cent and with the AIM slightly higher than that.
The UK already has a separate deal with the US in place with some exemptions and specific rates in place beyond a base 10 per cent tariff.
Karl Matchett14 July 2025 09:38
