Business

YouTube has been ranked the world’s most influential brand, as technology companies continue to dominate global media and public discourse, according to a new report.

The 2026 Brand Influence Rank from Onclusive found that digital-first platforms occupy every position in the global top 10, reflecting their unrivalled ability to shape narratives across both traditional and social media.

Joining YouTube at the top of the rankings are Google, Instagram, Facebook, LinkedIn, Apple, Amazon, Microsoft, TikTok and ChatGPT, underscoring the structural advantage these businesses hold in driving attention at scale.

The report measures influence not by size alone, but by a brand’s ability to generate sustained media coverage, spark conversation and shape public perception globally.

Digital platforms, with their always-on engagement and vast user bases, are uniquely positioned to dominate this landscape. Their central role in communication, content distribution and increasingly artificial intelligence gives them a powerful edge over traditional brands.

Jennifer Roberts, chief marketing officer at Onclusive, said the findings reflect a fundamental shift in how influence is defined.

“Influence is no longer just about reputation, it’s about the ability to generate continuous attention across multiple channels,” she said, noting that the rise of AI-driven search and content is accelerating this trend.

One of the most notable developments in the rankings is the entry of ChatGPT into the global top 10 for the first time, highlighting the rapid ascent of AI-focused brands.

Alongside Microsoft, AI platforms are generating disproportionate levels of media coverage, driven by innovation, competition and ongoing debate around regulation, ethics and the future of work.

However, this visibility comes with a trade-off. The report identifies a “sentiment ceiling” affecting many leading tech brands, where high levels of scrutiny limit positive perception despite strong influence.

Companies such as Google, Facebook, Apple and TikTok all recorded relatively modest positive sentiment scores, reflecting ongoing regulatory pressures, antitrust investigations and concerns over platform governance.

The report also highlights the growing role of corporate leaders in shaping brand narratives.

Elon Musk was ranked the world’s most influential CEO, with a media presence nearly ten times greater than his closest competitor. His influence is driven by his involvement across multiple high-profile companies, including Tesla, SpaceX and the social platform X, combined with a highly visible and often polarising public persona.

Sam Altman ranked second, reflecting the central role of artificial intelligence in global discourse. His prominence has grown rapidly as AI has become a defining topic in business, politics and society.

Other influential leaders include Mark Zuckerberg, Jensen Huang and Tim Cook, each contributing to their companies’ visibility through strategic positioning in key technology sectors.

The report underscores a key tension in modern brand building: influence does not necessarily equate to positive sentiment.

While tech companies dominate attention and conversation, they also face intense scrutiny over issues ranging from data privacy and competition to the societal impact of their technologies.

This dynamic creates a balancing act for brands, which must manage both visibility and trust in an increasingly complex media environment.

As digital platforms and AI continue to reshape how information is created, distributed and consumed, their dominance in global influence rankings is likely to persist.

However, with that influence comes heightened responsibility, and greater scrutiny.

For brands, the challenge is no longer simply to be seen, but to be trusted.

Read more:
YouTube named world’s most influential brand as tech dominance grows

Innovate UK has unveiled the winners of its inaugural Agentic AI Pioneers Prize, marking a major step in the government’s ambition to position Britain as a global leader in next-generation artificial intelligence.

The competition, delivered in partnership with the Department for Science, Innovation and Technology, attracted more than 200 applications from across the UK’s high-growth sectors, highlighting the depth of innovation in areas such as advanced manufacturing, healthcare and the creative industries.

Designed to accelerate the commercialisation of “agentic AI”, systems capable of acting autonomously, collaborating with humans and managing complex workflows, the prize aims to support companies developing real-world applications of the technology.

The top award of £500,000 was granted to Danu Insights for its “Agentic Digital Twin Builder for the Life Sciences” platform.

The technology enables researchers to simulate biological systems and identify the most promising experimental pathways, helping to address growing complexity in drug discovery and biomanufacturing. By integrating modelling, validation and experiment planning into a single system, the platform is designed to reduce costs and accelerate the development of new therapies.

The judges highlighted its potential to deliver faster, more efficient and more sustainable innovation across the life sciences sector.

Two additional awards of £250,000 were presented to companies operating in advanced manufacturing and the creative industries.

In manufacturing, Singular Machine was recognised for CoEngen, a multi-agent engineering platform that coordinates design processes across disciplines using shared data models. The system allows engineers to optimise complex systems more quickly while maintaining traceability and safety standards.

In the creative sector, Tellme was awarded for a solution that delivers real-time, personalised museum experiences via smartphones. The platform enables visitors to interact with exhibits dynamically, receiving tailored information without the need for additional hardware, potentially transforming how audiences engage with cultural spaces.

Agentic AI represents a shift beyond traditional automation, focusing on systems that can take initiative, adapt to changing conditions and collaborate with human users. Applications range from industrial design and regulatory compliance to clinical decision-making and immersive digital experiences.

The competition demonstrated how these capabilities are already being applied to solve practical challenges, rather than remaining confined to theoretical research.

Sara El-Hanfy, head of AI and machine learning at Innovate UK, said the prize is intended to help promising companies move from early-stage innovation to scalable deployment.

“Our ambition is to support the companies set to shape the future of agentic AI and unlock its potential to drive growth across key sectors,” she said.

The initiative forms part of a broader strategy to position the UK at the forefront of AI development, particularly in areas where advanced technologies can deliver economic and societal impact.

By targeting sectors such as manufacturing, healthcare and creative industries, the programme aligns with the government’s industrial strategy priorities, focusing on areas where the UK has both strong research capabilities and commercial potential.

As AI continues to evolve, the emphasis is shifting from experimentation to implementation, with businesses seeking technologies that can deliver measurable productivity gains and competitive advantage.

The Agentic AI Pioneers Prize highlights how UK startups are beginning to translate cutting-edge research into practical solutions, with the potential to reshape industries and drive economic growth.

For Innovate UK, the challenge now is to ensure these early successes translate into scalable businesses capable of competing globally, reinforcing the UK’s position in the rapidly intensifying race for AI leadership.

Read more:
Innovate UK names winners of first Agentic AI pioneers prize

Maven Capital Partners has successfully exited Manchester-based fintech AccessPay following its acquisition by US investment firm Accel-KKR, delivering a 2.5x return for investors in the Northern Powerhouse Investment Fund I.

The transaction marks a significant milestone for both AccessPay and the wider Northern fintech ecosystem, underscoring the growing strength of technology businesses outside London and the role of regional investment funds in scaling high-growth companies.

Maven first backed AccessPay in 2018 through the Northern Powerhouse Investment Fund (NPIF), investing £1 million to support the company’s expansion. The funding enabled the business to scale operations, invest in talent and accelerate revenue growth at a critical stage in its development.

Since then, AccessPay has grown into a leading provider of bank integration software, connecting corporate finance systems directly to banking networks and enabling automated, structured payment and reconciliation processes.

The platform is now used by more than 1,000 organisations globally, reflecting strong demand for solutions that streamline financial operations and improve data accuracy.

The acquisition by Accel-KKR is expected to support AccessPay’s next phase of growth, including the development of new products and an accelerated acquisition strategy.

The US-based investor specialises in technology businesses and is likely to bring both capital and operational expertise to help expand AccessPay’s presence in international markets and strengthen its enterprise offering.

Anish Kapoor, (pictured) chief executive of AccessPay, said Maven’s early backing had been instrumental in the company’s growth.

“Maven supported us at a key point when we were scaling our market presence, and that foundation has helped us reach over 1,000 customers globally,” he said.

AccessPay’s growth highlights the increasing importance of regional fintech hubs, particularly in Greater Manchester, which contributes more than £1 billion annually to the UK economy.

The company has established itself as one of the fastest-growing fintech businesses outside London, gaining recognition for its innovation in bank connectivity and enterprise payments infrastructure.

Jeremy Thompson, partner at Maven, said the exit reflects the strength of the business built during the investment period.

“This transaction is a testament to the company’s leadership and the solid financial foundation established over the years,” he said.

The deal also illustrates the impact of public-private investment partnerships in supporting early-stage companies.

The Northern Powerhouse Investment Fund, backed by the British Business Bank, has played a key role in providing growth capital to businesses across the North of England.

Debbie Sorby of the British Business Bank said the exit demonstrates the value of equity finance in helping companies scale and succeed.

“This is a testament to AccessPay’s success and highlights the strength of the Northern fintech ecosystem,” she said, noting that further support will continue through the next phase of the fund.

For AccessPay, the acquisition represents a transition from scale-up to global expansion, with increased resources to compete in a rapidly evolving financial technology market.

For Maven and its investors, the 2.5x return reinforces the case for backing high-potential regional businesses early and supporting them through to exit.

As demand for digital financial infrastructure continues to grow, deals such as this are likely to become more common, reflecting both the maturity of the UK fintech sector and the increasing global appetite for scalable technology platforms.

Read more:
Maven exits AccessPay in private equity deal delivering 2.5x return

Moody’s assignment of a Ba3 rating with a stable outlook to Freedom Bank Kazakhstan serves not only as an assessment of its current condition but also as a reflection of its role within a broader framework.

The bank’s baseline credit assessment is set at b1 and reflects its current stage of development and growth dynamics. The bank is actively expanding its retail lending business by developing mortgage and auto loan products, gradually reducing its reliance on investment and trading operations.

Credit quality is assessed as stable: the share of non-performing loans is less than 3%, while the provision coverage ratio exceeds 100%. Capitalization and liquidity are at comfortable levels, although as the business grows, pressure on capital ratios and the cost of funding may increase.

Separately, Moody’s highlights a factor that goes beyond traditional banking analysis: the bank’s integration into the Freedom ecosystem. Freedom Bank is part of Freedom Holding Corp., which consolidates assets in Kazakhstan, Europe, the U.S., and the Middle East. This model provides access to international capital markets, technological solutions, and management expertise, strengthening the bank’s resilience and supporting its further development.

Global Focus: Where Freedom Holding Is Growing

The development of the Freedom Holding ecosystem is directly linked to the expansion of its business footprint. Today, the company operates in 21 countries, and its total assets exceed $10 billion.

Central Asia remains a key region, where Freedom Holding Corp. is systematically integrating its banking and investment services. A unified product model is being developed in Uzbekistan and Tajikistan, and a fully digital bank focused on remote customer service is already operating in Tajikistan.

In the Caucasus, the company is represented in Armenia and is simultaneously working on launching banking projects in Georgia. This direction is viewed as a logical continuation of regional expansion.

Beyond the post-Soviet space, Freedom Holding is also strengthening its international presence. In 2025, the company obtained a license as a professional participant in the securities market in Abu Dhabi, which opened access to the Middle Eastern market and marked an important step in business diversification.

One of the most promising areas for further growth is Turkey. The holding company is considering the acquisition of TurkishBank: the current shareholders have already agreed to sell a controlling stake, and the deal is currently awaiting regulatory approval. The potential buyer is Freedom’s Turkish subsidiary.

At the same time, Freedom Holding Corp. is evaluating opportunities to enter the Pakistani market while continuing to strengthen its position in the U.S. and Europe. Thus, geographic expansion has become an integral part of the strategy aimed at scaling the ecosystem and entering new markets.

The Ecosystem and SuperApp as a Unified Model

Freedom Holding Corp. is consistently developing an ecosystem-based approach, in which the key product is not a standalone service but a comprehensive digital environment. This includes banking, investment, insurance, and technology services, all integrated into a single platform.

This model allows for the formation of a sustainable customer base and deeper engagement with users. Customers gain access to a wide range of services within a single ecosystem, while the company benefits from a more balanced and diversified revenue structure.

The bank plays a central role in this system, providing the financial infrastructure—from payments and transfers to lending—and serves as the foundation of the entire digital platform.

A key element of the ecosystem is the Freedom SuperApp—a single application that combines financial and everyday services. Users can manage accounts, make transfers, invest, receive cashback, and take advantage of additional features—from travel to interacting with government services.

Integration with government databases allows customers to apply for financial products—including mortgages and auto loans—remotely and entirely online, often within a single day. Multi-currency cards and fast international transfers are also available.

The use of biometric identification significantly simplifies access to services and speeds up transactions, minimizing the need to visit branches. At the same time, the platform’s functionality is regularly expanding through the implementation of new digital solutions.

The app’s user base is growing rapidly: the number of Freedom SuperApp users has reached 5 million, increasing by one million in just a few months. This growth confirms the high demand for a unified digital platform that combines financial and everyday services within a single user experience.

Read more:
Freedom Holding Corp.: Moody’s Rates Freedom Bank on Stability, Growth and Ecosystem Model

Gone are the days when, to enjoy a creamy cappuccino, you had to pick out an outfit, smooth out your morning hair, convince a friend to join you, then head to your neighbourhood café and wait for the barista to whip it up for you.

You can still do that if you want to, of course—but it seems like less and less of us do.

Cafés are what sparked our love for coffee, yet we eventually grew to adore our daily cup of joe so much that we’ve now gone ahead and moved it straight into our homes. How, and why, did this happen? How did coffee shift from something enjoyed strictly while out and about to a ritual so personal no barista can quite replicate it? Let’s try and trace the reasons behind this tranformation—and possibly grow to appreciate our familiar home brewing routines even more along the way.

Control and Comfort over Café Convenience

The growing preference that coffee drinkers show towards a home-brewed cuppa isn’t anecdotal; it’s statistical. In the U.S., for example, home coffee consumption is reported to have grown from 79% to 85% between 2017 and 2021. A similar trend is observed in Europe, and it doesn’t seem like it’s going to slow down anytime soon.

What’s the story behind the statistics? It’s, predictably, the pandemic. With access to our favourite coffee shops having suddenly been limited, the brewing ritual had nowhere else to go but home. We’ve built new routines around our daily cuppa; we’ve bought coffee makers, milk frothers, and grinders; we’ve had plenty of time to experiment and eventually find out that, with some practice, homemade cappuccinos can be just as good as those served at trendy cafés! There’s no rush, no queueing, no upcharge for almond milk… No wonder that, when the coffee shops reopened, some of us have lost the taste for the café experience already.

Growing demand for home brewing equipment has meant a growing supply of reliable, affordable, user-friendly gadgets. Armed with smart coffee machines, handy barista tools, electric milk frothers, and high-precision grinders, we’re now able to tailor homemade brews to our exact taste with ease. The quiet domestic ritual of making ourselves a cuppa is that much more customisable, putting nobody else but us behind the steering wheel—or rather the portafilter. To put it simply, with home brewing being much easier to master, there’s quite simply no reason not to!

From Social Spaces to Social Media

In addition to steering us back towards our homes, the pandemic guided us onto social media platforms. Clubs, pubs, restaurants and cafés were replaced by Instagram, TikTok, and YouTube. With our ability to connect physically being restricted, social media turned into a veritable social hub, a means to share our lives with others and see what they are up to—so, instead of chatting over a cup of coffee, we were now sending pictures of our home-brewed creations back and forth.

Coffee has retained its social aspect, but the ways in which we socialise have changed. Nowadays, the visual appeal of coffee is as important as its flavour. Sure, you can snap a photo of the latest concoction that Starbucks has come up with… But how much cooler is it to grace your Instagram wall with a picture of your very own, carefully curated home coffee corner, or a caramel latte you can proudly say you’ve whipped up yourself? Whether it’s dalgona coffee, matcha latte, or espresso tonic, home brewing is the latest trend, turning our kitchens into personalised coffee spaces that are meant to be shared, seen, and admired online.

Brew-It-Yourself: Coffee as a Craft

Not only has there been a shift in how we share our coffee experiences—the manner in which we craft them is now different too. While previous generations saw coffee primarily as a ready-made product sold at cafés, the young people of today tend to view it as a DIY project. This is part of a broader “do-it-yourself” trend: tired of mass-produced, standardised items, Gen Z and millennials alike have grown to value the custom-made and the authentic, as well as to appreciate the opportunity to gain a new skill offered by DIY undertakings.

More than just a caffeinated beverage, our daily cup of coffee is nowadays a chance to express ourselves. How we brew and consume it is part of our identity—and this identity is far more unique and original when it isn’t in the hands of a barista. Choosing to prepare coffee at home has turned into a statement, a mark of somebody who refuses to settle for the bare minimum, and instead is on the lookout for one-of-a-kind experiences that can only be forged in the comfort of a familiar kitchen. From graceful Chemex rituals to countertop milk frothers for that silky-smooth milk foam, the way in which we craft our coffee is now more than ever part of who we are.

Hooray for Home Brews!

Whether it’s a chatty cuppa at a corner café or an elaborate home brewing ritual, it’s clear that coffee isn’t going anywhere. In fact, by moving into our kitchens, it further cemented its role in our daily lives. All that’s left for us to do is go ahead and enjoy it: housemates this good are rare to come by, after all!

Read more:
From Cafés to Kitchens: Why Are New Coffee Rituals Moving into Our Homes?

It’s common for SMEs to experience a structural shift due to growth before their brand identity changes.

Rather than an expansion in office space or a large increase in customers, a more typical first indicator of growth is the transition of strong individuals who were previously contributing individually to now being Managers. A high performing salesperson transitions from selling alone to managing a team of salespeople. An operations specialist who was responsible for delivering products now manages other delivery specialists. The founder begins delegating decision-making responsibility for areas of the business formerly run out of the founder’s office.

Promoting employees solved one problem and created another

There are good reasons why SMEs typically promote employees from inside. Candidates who come from inside the organization are familiar with the product(s), know the organizational culture, and have earned the respect and trust of their coworkers. Therefore, promoting from inside is generally efficient; however, it is not low risk.

A manager must be able to prioritize, make decisions based upon incomplete data, conduct performance reviews, and establish clear direction among departments. Technical expertise does not provide assurance that a manager will be successful in these areas. A highly competent employee may be very effective at doing his/her work but ineffective at coordinating the work of others.

At this stage of the company, a structured leadership development programme provides newly promoted Managers with a framework for addressing the responsibilities associated with their new role. Responsibilities such as delegation, communication, providing feedback, allocating time appropriately, and making informed decisions are not consistently taught on the job.

If no support system exists, many first-time Managers fall into a pattern of behavior that is familiar. first-time Managers tend to continue to perform specialty tasks on their own, spend too much time directly involved in day-to-day activities, and avoid difficult conversation. As a result, the team continues to rely heavily on the first-time manager, limiting the potential for scale.

Accidental management

As newly promoted Managers advance through the ranks of the company without proper support systems in place, companies often experience “accidental” management. No one intentionally sets out to manage this way. However, the management style becomes reactionary rather than intentional. Work is assigned, but expectations are unclear. Meetings occur, but nothing results from those meetings. Issues are identified late because team members are uncertain about when to bring concerns to someone else’s attention.

In addition to creating inefficiencies throughout the organization, there are several types of friction created in various areas:

Delegation weakens: Newly promoted Managers often feel safe continuing to complete important tasks themselves. While protecting the quality of the task in the short-term, this approach weakens the ability to develop future teams. If all decisions still flow through one person, then scaling output cannot occur.
Feedback becomes unreliable: Many newly appointed Managers either do not want to discuss underperformance with peers due to relationship preservation and/or over-correct by becoming overly controlling. Both patterns destroy trust in the manager.
Priorities become unclear: Founders often believe that newly appointed Managers will automatically be able to translate corporate objectives into actionable team initiatives.

Unfortunately, translating business objectives into specific team actions requires a managerial skillset. Without this skillset, teams continue to be busy while little if any progress toward corporate strategy occurs.

While these problems may appear non-dramatic on the surface (e.g., revenue continues to grow for a period) the damage caused by lack of adequate development of new Managers can show itself in slow execution times, repetition of past errors by team members, dissatisfaction from team members, and increased workload for the founder.

Why founder led businesses experience these problems more intensely

Founder-led businesses experience this problem most intensely due to how they function during earlier Growth phases. Early phase Growth is characterized by the founder serving as both strategist/decision-maker/recruiter/culture carrier/final escalation point. As team sizes expand and complexities rise, businesses require a management layer capable of absorbing decision-making responsibilities. If newly promoted Managers are unable to act independently, then decisions simply revert upward to the founder. The founder is then forced to focus on daily operations as opposed to focusing on expanding/growing their business through new partnerships, financial planning or positioning their business in their competitive market.

Therefore, founder-led organizations often appear larger than they are on the inside. The organization appears larger externally by having increased headcount, but its level of operating maturity does not match. Instead of true scalability; additional activity just accumulates as the organization grows.

Supporting newly appointed Managers is not just soft leadership – it’s part of operational design

Therefore, supporting newly appointed Managers is not just another example of soft leadership; it is part of operational design. If an organization’s management layer is weak or unprepared to handle growing responsibilities, then the organization will never achieve true scalability. Instead, additional activity will merely accumulate.

Read more:
Why SME Growth stalls when Managers are promoted but don’t have support

The British Business Bank has invested £8.5 million into Dexory, as part of a wider Series C funding round aimed at accelerating the company’s global expansion and strengthening the UK’s position in advanced logistics technology.

The round was led by Eurazeo, with participation from LTS Growth, Endeavor Catalyst and a strong syndicate of existing investors including Atomico, Lakestar and Elaia. The deal underscores growing investor confidence in AI-driven supply chain solutions at a time when global logistics networks are under increasing pressure.

Dexory has developed a full-stack platform that combines autonomous robotics with artificial intelligence to provide real-time visibility inside warehouses. Its robots continuously scan storage environments, collecting data that feeds into its digital twin platform, DexoryView.

This system allows companies to monitor inventory levels, detect inefficiencies and optimise warehouse space in near real time, a capability that is becoming increasingly critical as supply chains grow more complex and demand for speed and accuracy intensifies.

The platform is powered by a vast and continuously expanding dataset, built from more than a billion warehouse location scans, giving Dexory what investors describe as a significant competitive advantage in the market.

The company is already working with major global logistics and manufacturing players, including GXO, Maersk, DHL and Samsung, as well as clients across sectors such as pharmaceuticals, retail and e-commerce.

Since its previous funding round, Dexory has expanded its footprint across Europe, North America and Asia-Pacific, and established its North American headquarters in Nashville, signalling its ambition to become a global leader in warehouse automation and intelligence.

Leandros Kalisperas, chief investment officer at the British Business Bank, said the investment reflects a broader push to ensure high-growth UK technology companies have access to the capital needed to scale internationally.

“The UK consistently produces companies with market-leading technology, which need greater domestic backing to scale globally,” he said. “We are increasing the scale of our co-investing activity to support that growth.”

The investment forms part of the Bank’s wider strategy to deepen capital pools for UK innovation and support the development of globally competitive technology businesses.

Dexory’s proposition sits at the intersection of two major trends: the automation of physical operations and the increasing importance of data-driven decision-making.

By creating a digital twin of warehouse environments, the company enables businesses to move from reactive to predictive operations, identifying issues before they occur and improving efficiency across the supply chain.

George Mills, investment director at the British Business Bank, said the company’s proprietary dataset and AI capabilities position it strongly for future growth.

“They have a first mover advantage in technology that could significantly improve logistics and supply chains, which underpin global trade,” he said.

Chief executive Andrei Danescu said the new funding will be used to accelerate product development and expand the company’s reach into new markets and sectors.

“Our focus has always been on delivering tangible value through real-time visibility,” he said. “This investment enables us to advance our technology and support more organisations in building smarter, more resilient supply chains.”

As global trade becomes more complex and the cost of inefficiency rises, demand for real-time operational intelligence is expected to grow rapidly.

Dexory’s combination of robotics, AI and large-scale data positions it at the forefront of this shift, as companies seek to modernise infrastructure and improve resilience in an increasingly uncertain environment.

For the UK, the investment highlights the strategic importance of backing deep-tech companies capable of competing on a global stage, and the role of public-private partnerships in turning innovation into commercial success.

Read more:
British Business Bank backs Dexory with £8.5m to scale AI warehouse tech

The sharp rise in fuel prices triggered by the global energy shock has reached what campaigners describe as a “critical point”, with mounting concern that small businesses and motorists are bearing the brunt of escalating costs.

According to campaign group FairFuelUK, more than a third of sole traders surveyed, including tradespeople such as plumbers, electricians and bricklayers, say current pump prices could push their businesses towards collapse unless action is taken to ease the burden.

The warning reflects the growing pressure on sectors that rely heavily on road transport, where rising diesel costs in particular are feeding directly into operating expenses and squeezing already tight margins.

The survey, based on responses from 3,678 sole traders, found that 36.4 per cent believe sustained high fuel prices could threaten their viability. For many, fuel represents one of the largest day-to-day costs, particularly in industries where travel between jobs is essential.

Campaigners argue that without intervention, higher fuel costs risk reducing profitability, limiting business activity and ultimately leading to job losses across key parts of the economy.

At the same time, a broader opinion poll cited by FairFuelUK suggests overwhelming support among motorists and small businesses for government action, including cuts to fuel duty and greater oversight of pump pricing.

Howard Cox, founder of FairFuelUK, has urged the government to maintain the current freeze on fuel duty for the duration of the Parliament and to consider further reductions to ease immediate pressure.

He also called for the removal of VAT on fuel duty, often described as a “tax on a tax”, and the introduction of a regulatory body to monitor fuel pricing and ensure transparency across the market.

The proposals come as fuel prices continue to rise in response to higher oil costs, with motorists already experiencing significant increases at the pump in recent weeks.

Campaigners have pointed to measures taken in other countries, including France, India and Italy, where governments have intervened to cap prices, reduce fuel taxes or support supply chains.

These comparisons have intensified the debate in the UK over whether similar steps should be taken to shield consumers and businesses from the impact of global energy volatility.

Chancellor Rachel Reeves has previously described rising fuel and energy costs as the result of “global turbulence”, emphasising the external nature of the pressures facing the UK economy.

However, critics argue that domestic policy choices, particularly around taxation, could play a more active role in mitigating the impact on households and businesses.

The issue is further complicated by broader fiscal constraints, with the government seeking to balance support measures against the need to maintain stable public finances and control inflation.

Economists warn that sustained high fuel costs could have ripple effects across the economy, increasing transport and logistics expenses, pushing up prices for goods and services, and weighing on consumer spending.

For small businesses, the impact is particularly acute, as they often lack the financial resilience to absorb cost increases or the pricing power to pass them on to customers.

The situation also raises concerns about inflation, as higher fuel costs feed into broader price pressures, potentially limiting the scope for interest rate cuts and prolonging the cost-of-living squeeze.

With global energy markets remaining volatile, the pressure on policymakers is likely to intensify in the coming months.

For campaigners, the message is clear: targeted intervention on fuel costs could provide immediate relief and support economic activity.

For the government, the challenge lies in balancing those demands with fiscal discipline and long-term energy policy objectives.

As fuel prices continue to rise, the debate over how best to respond is set to become an increasingly central issue for both businesses and policymakers alike.

Read more:
Fuel price crisis risks pushing small firms to brink as pressure mounts on chancellor

The UK’s financial watchdog has reduced the expected cost of compensating motorists caught up in the car finance mis-selling scandal by around £2 billion, as it unveiled its long-awaited final redress scheme, though the decision is unlikely to end the controversy.

Financial Conduct Authority said total compensation and administration costs will now amount to roughly £9.1 billion, down from earlier estimates of more than £11 billion. The revised figure includes £7.5 billion in direct payouts to consumers and £1.6 billion in operational costs for lenders.

The reduction has been achieved largely by tightening eligibility criteria. Around 12.1 million finance agreements signed between 2007 and 2024 will now fall within scope of the scheme, compared with 14.2 million under the regulator’s initial proposals last autumn.

Despite the lower overall bill, the FCA expects the average compensation payment to increase. Eligible consumers are projected to receive around £829 per agreement, up from an earlier estimate of approximately £700.

The regulator anticipates that around 75 per cent of eligible customers will make a claim, although this assumption could be tested depending on how straightforward the process proves in practice.

At the centre of the scandal are commission arrangements between lenders and car dealers that were not properly disclosed to borrowers, potentially inflating the cost of loans. The FCA banned certain types of commission structures in 2021, but growing complaints prompted a wider investigation launched in 2024.

While the scaled-back scheme offers some relief to lenders, the reaction across the industry has been mixed. Many firms had lobbied heavily for changes, arguing that the original proposals were disproportionate and inconsistent with a Supreme Court ruling last year that was broadly favourable to lenders.

Major institutions including Lloyds Banking Group, which has already set aside nearly £2 billion, and Close Brothers are still expected to face substantial financial impacts. Shares in Close Brothers fell following the announcement, reflecting investor concerns about its exposure.

There is also a growing expectation that the scheme could be challenged in the courts, either by lenders seeking to reduce liabilities further or by consumer groups arguing that compensation levels remain insufficient.

Nikhil Rathi urged the industry to support the scheme, arguing that a coordinated approach would deliver faster outcomes for consumers and help restore trust in the market.

“An industry-wide scheme is the most efficient way of compensating affected consumers while supporting the ongoing availability of competitively priced motor finance,” he said.

The FCA has opted to divide the redress programme into two parts, one covering agreements from 2007 to 2014 and another from 2014 to 2024. While this approach may help process claims more quickly, legal experts warn it could introduce additional complexity and confusion for consumers.

The split also reflects the regulator’s attempt to manage legal risk, particularly around older claims, which have been a major point of contention for lenders.

However, some analysts suggest this strategy may not prevent challenges. The gap between the FCA’s average payout estimate and higher figures suggested by claims firms, often closer to £1,500 per case, could encourage consumers to pursue compensation through the courts instead.

Even in its revised form, the scheme presents a major logistical and financial challenge for the industry. Lenders will need to identify affected customers across millions of historic agreements, calculate appropriate compensation and process claims efficiently.

Richard Pinch of consultancy Broadstone said the scheme would still place significant strain on firms, both in terms of cost and operational complexity.

“This is not just about the scale of compensation, but the difficulty of administering it across decades of lending,” he said.

Consumer advocates have criticised the final scheme as falling short of delivering full redress. Some argue that stricter eligibility criteria could exclude vulnerable borrowers or reduce compensation for those who were most affected.

Legal firms are already preparing to pursue claims outside the FCA’s framework, raising the prospect of prolonged litigation and continued uncertainty for both lenders and customers.

The finalisation of the redress scheme marks a pivotal moment for the UK motor finance sector, which is now confronting one of the largest compensation exercises since the PPI scandal.

For regulators, the challenge has been balancing fair outcomes for consumers with the need to avoid destabilising the financial system. For lenders, the focus shifts to managing the financial hit and rebuilding trust.

For consumers, the key question remains whether the scheme will deliver timely and meaningful compensation, or whether the battle over redress will continue in the courts for years to come.

Read more:
Car finance redress bill cut by £2bn as VCA unveils final compensation scheme

The impact of the Middle East conflict is now being felt far beyond energy markets, with London’s food supply chain coming under growing pressure as rising fuel costs and disrupted logistics begin to filter through to traders and restaurants.

At New Covent Garden Market in Nine Elms, a key hub supplying some of the capital’s most prestigious restaurants and hotels — traders say the situation has become increasingly challenging in recent weeks.

Already grappling with difficult growing conditions across Europe, including flooding in Spain and an unusually warm winter in the UK, suppliers are now facing a new wave of cost pressures linked to the surge in oil prices following the Iran conflict.

Brent crude has climbed above $115 a barrel, driving up the cost of transporting fresh produce by road, air and sea. For a market heavily reliant on imports, particularly at this time of year, the implications are immediate.

Gary Marshall, chairman of the Covent Garden Tenants Association, said traders are increasingly concerned about the broader economic environment and the knock-on effects of the conflict.

“The people in the market are obviously going to be feeling like everyone else, very concerned,” he said, pointing to the cumulative impact of rising business rates, tariffs and supply chain disruption.

The challenge is not just higher costs, but also the reliability of supply. With traditional routes disrupted and shipping costs rising, traders are being forced to source produce from alternative markets, often at short notice and higher expense.

For suppliers like Marcus Rowlerson, managing director of Le Marché, the situation has become a daily balancing act. His business, which supplies high-end establishments including The Ritz and Claridge’s, has had to diversify its sourcing to maintain consistency.

“We’re bringing in produce like tender stem broccoli from Kenya and Spain,” he said. “But flying goods in or even securing flights has become more difficult, and the supply chain is now intermittent.”

The timing of the disruption is particularly problematic. With the UK still in a seasonal gap before domestic harvests ramp up, suppliers remain heavily dependent on imports for many fresh products such as herbs and citrus fruits.

“If this were May or July, we could rely much more on local produce,” Rowlerson noted. “At the moment, options are limited.”

The rising cost of sourcing and transporting ingredients is beginning to feed through to restaurants, many of which are already operating on tight margins.

Rowlerson warned that his clients have limited capacity to absorb further increases, particularly as additional duties and cost pressures are expected in the coming months.

This creates a difficult environment where suppliers must balance maintaining quality and reliability with managing escalating costs — without alienating customers.

Some traders have also raised concerns about how price increases are communicated to the public.

Marshall criticised what he sees as a tendency among larger retailers to quickly pass on cost increases, sometimes overstating supply shortages.

“The minute there’s any sort of problem, they say there’s a shortage and prices go up,” he said. “That’s not always the full picture.”

Maintaining trust with customers is seen as critical, particularly in the premium segment of the market where relationships and consistency are key.

The challenges facing London’s food markets reflect broader concerns about the resilience of the UK’s food supply chain.

Rising energy costs, climate-related disruptions and geopolitical tensions are converging to create a more volatile environment, with implications for availability, pricing and long-term sustainability.

While traders at Covent Garden remain determined to adapt, the current situation highlights the vulnerability of a system that depends heavily on global supply networks.

For now, suppliers are focused on navigating the immediate disruption, sourcing alternative products, managing costs and maintaining supply to customers.

However, if energy prices remain elevated and geopolitical tensions persist, the pressure on food supply chains is likely to intensify, with potential knock-on effects for both businesses and consumers.

As one of London’s key food distribution hubs, New Covent Garden Market offers an early glimpse of how global events can ripple through to everyday essentials, from the availability of fresh produce to the price of a meal in the capital’s restaurants.

Read more:
Iran war drives up costs and disrupts supply for London’s food markets