Business

Partner of soldier accused of war crimes says the couple discussed possibility of moving overseas to ‘create some normalcy in our lives’Get our breaking news email, free app or daily news podcastBen Roberts-Smith was planning to leave Australia to live overseas and had a business class flight out of the country booked in four days’ time when he was arrested at Sydney airport this month, court documents allege, with investigators telling a court “his willingness to return to Australia to face prosecution cannot be judged”.Roberts-Smith was ultimately granted bail last week under strict conditions, a move opposed by prosecutors who said there was potential concern he was a flight risk and might try to avoid ever having to face trial for a series of alleged murders he committed in Afghanistan. Continue reading...

• The number of small businesses in the United States continues to grow amid entrepreneurial optimism. • Owners report increasing difficulty securing startup capital needed to launch and expand operations. • Policies associated with President Trump are cited by business leaders as dampening access to financing for new entrepreneurs pursuing the American Dream.

ABF, which owns Kingsmill, Twinings and Patak’s, to demerge fashion chain to maximise shareholder returnsBusiness live – latest updatesPrimark is to break free from its sister food company, which owns Twinings, Kingsmill and Patak’s, next year despite warning that the conflict in the Middle East is likely to hit consumer spending.The fashion chain’s owner, Associated British Foods (ABF), confirmed the plan to split off Primark from the rest of the group, first mooted last year. Continue reading...

Retail analysts say breaking up food and fashion group would make sense in challenging business environmentPrimark may break free from Kingsmill, Twinings and the sugar business this week when Associated British Foods announces plans on a mooted demerger.The potential split comes at a tricky time for the group controlled by the billionaire Weston family, with its fashion and food arms facing tough competition and rising costs. Continue reading...

Scheme cutting bills by up to 25% expanded to cover 10,000 firms, but they will not be paid until next yearRachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced. Continue reading...

Deal will create pensions and savings group with 16m customers and £480bn of assets, while Aegon focuses on USThe Dutch financial services group Aegon has struck a £2bn deal to sell off its almost 200-year-old UK arm to Standard Life, as part of a US push in which the group will be rebranded as Transamerica.Standard Life, previously known as Phoenix Group, said the deal to buy Aegon UK will create a pensions and savings group with 16 million customers and £480bn of assets under administration. Continue reading...

Oil-driven inflation is big challenge to world economy, lifting inflation and depressing growth, says bank’s chairBusiness live – latest updatesHSBC bosses have said the Iran war is already hitting global economic confidence, as a string of business leaders warned over the impact of the conflict.Georges Elhedery, the Lebanon-born chief executive of the bank, told Bloomberg Television at a HSBC conference in Hong Kong: “We’re saddened and concerned with what’s happening in the Middle East, and we’re concerned not just with what’s happening but also with how long this will take. Continue reading...

• The U.S. Chamber of Commerce released its Q1 2026 Small Business Index on April 7, 2026, showing the index declined to 67.0 from 68.4 in the previous quarter, though it remains above the 62.3 score from a year ago. • Inflation reclaimed the top concern among small business owners at 53%, up from 45% last quarter, marking 17 consecutive quarters as the dominant worry; hiring and investment plans are cooling as economic confidence softens. • Cash flow comfort among small business owners has declined, with only 20% reporting being "very comfortable" compared to 31% in Q3 2025, though 72% overall maintain comfort levels; manufacturing firms lead at 81% comfort while retail and professional services lag at 69-70%.

• Zencoder (For Good AI Inc.) unveiled Zenflow Work, expanding its AI orchestration platform to automate planning, coordination, and engineering in business units like product, marketing, sales, finance, and HR. • The platform addresses tasks beyond coding agents, targeting everyday business workflows. • This launch positions Zencoder as a comprehensive AI solution for enterprise efficiency in US tech sectors.

• The Institute for Supply Management’s Purchasing Managers Index revealed business input prices rose 7.7 percentage points in March 2026. • This spike reflects heightened costs amid geopolitical tensions and oil price volatility, contributing to broader inflationary pressures. • The data underscores challenges for corporate earnings and economic indicators as firms face elevated expenses.

• West Virginia lawmakers completed 306 bills (153 House, 153 Senate) out of 2,777 introduced in the 2026 session, with Senate Bill 1 launching the First Small Business Growth Act via Commerce Department incentives. • Senate Bill 104 grants $5,000 salary increases to all state mine inspectors effective July 1, 2026, covering electrical, underground, and surface specialists. • Additional measures include Senate Bill 44 regulating cottage foods and Senate Bill 137 raising second-degree murder sentences to 15-60 years with 15-year parole minimum.

Australian treasurer says Iran war having ‘extreme impact on global economy’ as Albanese to address nation about fuel crisis Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastJim Chalmers has unveiled a suite of Covid-era support measures including tax deferrals for businesses struggling with soaring fuel prices, in the latest sign the government is preparing for a more severe economic downturn from the US-Israel war on Iran.Addressing the media on Wednesday morning, the treasurer said “the war in the Middle East is having an extreme impact on the global economy, [and[ Australians and Australian small businesses are paying the price for that”. Continue reading...

Sector cites ‘billions of pounds in additional costs’ from new business rates and increase in minimum wage thresholdsTwo-thirds of hospitality businesses are planning to cut jobs as a result of “suffocating” costs imposed by government, as new business rates and higher wage bills come into force.Many pubs, restaurants and hotel companies will see their costs increase significantly from 1 April after Rachel Reeves’s changes to business rates and an increase in minimum wage thresholds announced at the chancellor’s November budget. Continue reading...

Exclusive: Pubs, restaurants and hotels warn of mounting pressure days before rates rises and higher wage bills take effectOne in five hospitality businesses fear collapse in the next 12 months, according to an industry-wide survey that comes days before rises in tax and employment costs kick in.From Wednesday, many pub, restaurant and hotel companies face the prospect of a higher bill for business rates paid to their local authority, while an increase in minimum wage thresholds takes effect on the same day. Continue reading...

• On March 3, 2026, the U.S. Senate unanimously passed S. 3971, the Small Business Innovation and Economic Security Act, reauthorizing the SBIR and STTR programs through September 30, 2031, after their expiration on September 30, 2025. • The bill, providing over $4 billion annually in non-dilutive R&D funding, introduces enhanced foreign due diligence, application limits, strategic breakthrough funding, and carryover of FY2026 funds. • This legislation safeguards U.S. technological leadership by prioritizing small innovative firms amid global competition.

Lawmakers consider latest bill that targets trans people for using the bathroom that matches their gender identityIdaho lawmakers are considering a bill that would make it a crime for transgender people to use the bathroom that matches their gender identity – even inside privately owned businesses.At least 19 states, including Idaho, already have laws barring transgender people from using bathrooms and changing rooms that align with their gender in schools and, in some cases, other public places. The LGBTQ+ advocacy organization Movement Advancement Project’s tracking of the laws shows that three other states – Florida, Kansas and Utah – have made it a criminal offense in some circumstances to violate the bathroom laws. Continue reading...

Watchdog also fines PhotobookShop for editing a paid review from an influencer who had described process as ‘fiddly’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAn online photobook retailer has been fined nearly $40,000 for asking social media influencers to not disclose they had been paid to post a review on Instagram.It marks the first time a penalty has been handed down to an Australian business for an influencer not disclosing paid post. Continue reading...

• U.S. secondary-level economic statistics including construction indicators and business activity assessments will provide key signals for market sentiment early in the week. • Investors are preparing for a busier trading week with March flash PMI surveys from major economies, inflation data from Japan and UK, and U.S. consumer indicators due for release. • Market focus has shifted from traditional macro releases to monitoring oil prices, bond yields, and geopolitical developments, with these factors now setting the primary tone for equity sector rotations.

Group, which also owns Dove and Hellmann’s, will focus more on personal care products if deal agreedUnilever, the owner of Marmite, Dove and Hellmann’s mayonnaise, is in talks to combine its food business with the US-based spice and seasoning maker McCormick.The Anglo-Dutch food company – which last year spun off its ice-cream division, the home to Ben & Jerry’s, Magnum and Wall’s – has entered discussions over the future of the “highly attractive” business. Continue reading...

Rolling coverage of the latest economic and financial newsUK wage growth slows sharply as unemployment holds steadyFed holds interest rates steady as Iran war drives up oil prices and inflation fearsMiddle East crisis live: Trump threatens to ‘blow up’ entire South Pars gasfield if Iran strikes QatarUK wage growth has slowed to a five-year low, in a worrying sign for workers as the Middle East crisis pushes up energy costs.Average pay (excluding bonuses) rose by 3.8% in the three months to January, down from 4.1% in October-December 2025, the Office for National Statistics reports.“With unemployment staying steady at 5.2% and a rare gain in payrolls employment, this report paints a mildly more positive picture of the labour market. And with wage growth softer again, in normal times this would have been a relatively reassuring report for the Bank of England.But the report feels stale in light of the Iran conflict, and the inflation risks stemming from the large spike in energy prices. So while today’s Bank of England meeting had once looked like the likely point of the next rate cut, instead policy is set to be kept on hold today as policymakers give themselves more time to see how the conflict plays out. Continue reading...

• The U.S. Senate unanimously passed the Small Business Innovation and Economic Security Act (S. 3971), extending the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for five years. • SBIR and STTR provide critical federal funding helping small businesses translate research discoveries into commercial technologies, often in partnership with universities. • The bill now moves to the House for consideration, with the earliest possible vote expected after March 16, 2026.

Rolling coverage of the latest economic and financial newsThe number of people in England and Wales falling into insolvency has jumped.There were 11,609 individual insolvencies registered in England and Wales in February, the Insolvency Service has reported this morning. This was 18% higher than in February 2025 and 6% higher than in January 2026.The individual insolvencies consisted of 768 bankruptcies, 4,210 debt relief orders (DROs) and 6,631 individual voluntary arrangements (IVAs). The number of DROs in February 2026 was a record high in the monthly time series going back to their introduction in 2009, exceeding the previous high of 4,185 in August 2025.The number of IVAs was higher than both January 2026 and the 2025 monthly average. Bankruptcies were 25% higher than in February 2025, although numbers were affected by the clearing of a backlog following the Insolvency Service moving to a new case management system.Average 2-year fix has risen from 4.83% at the start of March to 5.28% today. It’s highest since April 2025.Average 5-year fix has risen from 4.95% at the start of March to 5.32% today. It’s highest since February 2025.“War in the Middle East has added almost £800 to a typical annual mortgage bill in just two weeks, which will be unwelcome news for anyone currently seeking a fixed rate deal.“The average two-year fixed rate has jumped from 4.83% at the start of March to 5.28% today – its highest level since April 2025. The average five-year fix has risen from 4.95% to 5.32%, now at its highest since February 2025. For a borrower with a £250,000 mortgage over 25 years, that equates to paying £788 more per year on a two-year fix, or £651 more on a five-year deal compared to just a fortnight ago. Continue reading...

Class action settles after retailers argued state government should pay them for economic loss resulting from pandemic lockdown Businesses affected by one of the world’s longest Covid-19 lockdowns will receive $125m from taxpayers after a state government agreed to settle the matter.A class action was brought in the supreme court on behalf of businesses affected financially by Victoria’s 2020 lockdowns. Continue reading...