News

President Trump's announcement of a 25% tariff on all car and parts imports into the US has sent shockwaves through global markets, with major European and Asian automakers suffering significant drops in share prices. The move, which threatens the UK's vital automotive exports and may trigger a full-blown trade war, comes at a time when production in Britain is already in decline.

WH Smith, a British retail giant with a 233-year history, has sold its high street division to Modella Capital for £76 million, marking the end of the iconic brand's presence on UK high streets. The stores will be rebranded as TG Jones, while the WH Smith name will continue to exist through its global travel division.

UK retail sales defied expectations and delivered a surprise boost in February, rising by 1% month-on-month, as consumers continued to spend on clothing, homewares and household goods despite lingering economic uncertainty. The figures have raised hopes that the Bank of England could begin cutting interest rates sooner than expected, particularly if inflation continues to ease.

Prosecutions against professionals enabling tax evasion have dropped by over 75% in the past five years, leading to growing concerns about HMRC's commitment to combating illegal tax practices. Critics, including public officials and tax experts, argue that the lack of visible enforcement undermines the credibility of the UK tax system and hampers efforts to recover lost tax revenue.

Campaigners have urged UK police forces to be tougher on fraudsters after a significant increase in fraud reports and a major international scam operation were exposed. The government has also announced plans for an expanded fraud strategy as concerns grow over the ease with which scammers operate and the cross-border challenges in combating fraud.