Business

FTSE 100 hits 10,000 for first time, after best year of gains since 2009 – business live
Posted on Friday January 02, 2026

The UK’s blue-chip stock index briefly rallied above the milestone before falling back slightlyThe US government has slashed proposed tariffs on Italian pasta that would have almost doubled the cost of many brands for shoppers.Donald Trump had threatened to impose tariffs as high as 92% on Italian pasta companies, after accusing 13 producers including Barilla, La Molisana and Pastificio Lucio Garofalo of selling their products at unfairly low prices.While the index’s recent outperformance may become choppier in 2026, it remains fundamentally supported by globally diversified earnings, strong cash generation and the prospect of a more accommodative Bank of England, suggesting the trend is sustainable even if gains moderate compared to 2025’s over 20% advance. Continue reading...

Uber rewrites contracts with drivers to avoid paying UK’s new ‘taxi tax’
Posted on Friday January 02, 2026

Hailing app will now act as agent rather than supplier outside London, avoiding VAT requirement, although change is not permitted in LondonUber has swerved paying millions of pounds to the UK exchequer under Rachel Reeves’s new “taxi tax” after the ride-hailing app rewrote contracts with its drivers.The move came as rules announced in November’s budget took effect, which adjusted how VAT is payable on minicab fares and would have resulted in the whole Uber fare becoming subject to the 20% sales tax. Continue reading...

Brighton’s historic Palace Pier up for sale as tourist numbers fall
Posted on Friday January 02, 2026

BPG hopes to find buyer for Grade II-listed structure by summer after slump in profits and rising costsBrighton’s historic Palace Pier has been put up for sale after a decline in tourist numbers, a drop in profits and increase in costs in recent years.The leisure group that owns the 126-year-old structure, which has appeared in famous films including Brighton Rock and Quadrophenia, said it hoped to find a new owner by the summer. Continue reading...

UK house prices unexpectedly fell at end of year, Nationwide says
Posted on Friday January 02, 2026

Average property price drops by 0.4% in December to £271,068 after forecasts of 0.1% month-on-month riseBusiness live – latest updatesUK house prices fell unexpectedly in December, according to a top mortgage lender, with the market finishing the year with the weakest annual growth in more than 18 months.The average property price slumped by 0.4% to £271,068 compared with November, according to Nationwide, confounding City forecasts of a 0.1% rise. Continue reading...

Italian pasta makers win reprieve from Trump tariffs
Posted on Friday January 02, 2026

US cuts proposed levies to between 2% and 14% despite accusing Italian producers of selling at unfairly low pricesThe US government has slashed proposed tariffs on Italian pasta that would have almost doubled the cost of many brands for shoppers.Donald Trump had threatened to impose tariffs as high as 92% on Italian pasta companies, after accusing 13 producers including Barilla, La Molisana and Pastificio Lucio Garofalo of selling their products at unfairly low prices. Continue reading...

‘Social listening’: Unilever seeks to capitalise on Vaseline’s TikTok moment
Posted on Friday January 02, 2026

Multinational boosts online chatter after social media users showcase product’s widespread use in life hacksAs a product discovered more than 150 years ago on a Pennsylvania oilfield, the humble pot of Vaseline may not seem like an obvious target for social media algorithms.Yet the brand’s emergence as a TikTok talking point has placed it at the forefront of an advertising revolution, in which large companies are spending big on content creators and putting fewer resources into promoting products in traditional media. Continue reading...

Ministers may cut green tech mandate from new homes regulations in England
Posted on Friday January 02, 2026

Exclusive: Critics say removing battery installation requirement will reduce amount homebuyers save on energy billsMinisters are poised to allow homes in England to be built without carbon-cutting technology in what experts have said is a climbdown after pressure from housebuilders.The future homes standard (FHS), due to be published in January, will regulate how all homes are built and is expected to enforce tough new regulations such as mandating solar panels on nearly all houses and high standards of insulation and heat pumps in most cases. Continue reading...