Business

Karavel, an AI-powered compliance platform built for highly regulated sectors, has secured £1.25 million in pre-seed funding in a round led by Fuel Ventures.

The investment will support product development and accelerate Karavel’s commercial expansion across the UK and Europe, as the company looks to modernise compliance workflows for organisations facing increasingly complex regulatory scrutiny.

Karavel is designed for legal, compliance and marketing teams operating in sectors such as financial services, fintech, insurance, healthcare and consumer credit. Its platform brings together regulatory monitoring, marketing and advertising reviews, horizon scanning and compliance gap analysis into a single, AI-driven interface, replacing the fragmented and manual processes still widely used across regulated industries.

The funding comes at a time when the pressure on compliance teams is intensifying. Regulatory frameworks are expanding, enforcement is increasing and the cost of non-compliance continues to rise. Despite this, many organisations still rely on spreadsheets, manual reporting and external legal support to track regulatory change and approve communications, creating bottlenecks, slowing product launches and driving up costs.

Founded by Pedro Sousa and Nav Garcha, Karavel was built in response to these challenges. The pair bring experience from companies including Revolut, Deliveroo, CNN and ClearScore, and say the platform was born out of their own frustration with outdated compliance systems.

Karavel’s technology automates financial promotion and advertising reviews, monitors regulatory updates in real time and flags relevant changes as they occur. Its AI analyses new rules, extracts applicable requirements and provides clear, actionable guidance to help teams respond quickly and confidently.

The company says the results are already significant. Its AdCheck tool allows financial promotions to be reviewed up to three times faster, with a 91 per cent first-pass approval rate. Meanwhile, its horizon scanning capability replaces bi-weekly manual reporting with daily automated alerts, delivering efficiency gains of up to fourteen times and reducing external legal spend by as much as 73 per cent within the first year.

Pedro Sousa, co-founder of Karavel, said the platform was built to address the real-world pressures compliance professionals face every day.

“During my time as a head of compliance, I experienced first-hand the manual, repetitive work, fragmented processes and constant anxiety that something important might be missed,” he said. “We built Karavel to give compliance, legal and marketing teams the clarity, automation and confidence I always wished I’d had in previous roles.”

Mark Pearson, founder of Fuel Ventures, said Karavel was tackling one of the most pressing operational challenges in regulated sectors.

“Karavel is redefining how organisations interpret regulations, review content and coordinate across teams,” he said. “The founders have combined deep compliance expertise with advanced AI to replace outdated workflows with intelligent systems that deliver real commercial impact. We’re proud to support their vision as they scale.”

With regulatory scrutiny showing no signs of easing, Karavel is positioning itself as a core infrastructure platform for organisations that need to move quickly without compromising compliance.

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Karavel raises £1.25m pre-seed round to modernise compliance in regulated industries

What football fans expect from sports sites has shifted completely. Dry match reports about yesterday’s game don’t cut it anymore. People want real-time numbers, instant updates, and analytics they can actually dig into.

Site owners who want to keep visitors around have no choice — static pages need to become living information hubs, and data visualization tools make that happen. High-quality infographics are becoming just as important an element as original articles.

Tools for Data Integration

A wide range of football widgets is available today, allowing webmasters to integrate live data into their websites without complex development. These tools make it possible to display match schedules, results, and key statistics in a clear and accessible format, helping users get the information they need without delays. Among the available solutions, Scoreaxis provides a set of football widgets designed for seamless integration into different types of web resources. With these tools, site owners can present live match data directly on the page, significantly improving the overall user experience and meeting audience expectations for speed and accuracy.

A central part of this ecosystem is the “Live Match” widget. It goes beyond showing the score by broadcasting match events in real time. Users can view team lineups, goal scorers, cards, and ball possession statistics without leaving the page. This keeps visitors engaged throughout the match and positively impacts behavioral metrics.

Key platform capabilities for webmasters:

Global Reach: Stats cover 5,000+ teams across hundreds of leagues — major championships and obscure tournaments alike.
Deep Personalization: Colors, fonts, and block sizes all adjust to match the existing site design without looking out of place.
Detailed Metrics: Widgets display specific data, such as penalties, assists, and history of the last five matches (W-D-L form).
Adaptability: Interface elements display correctly on both desktop monitors and mobile device screens.

Multifaceted Statistics

Beyond general results, Scoreaxis offers tools for personal analytics. The “Team Top Players” and “League Top Players” widgets display lists of top scorers and assistants. The screenshots show how neatly information about stars like Salah or Haaland is presented: number of matches played, goals, and penalties.

The “Team Info” block deserves special attention. This is a real find for analytical previews. It demonstrates average ball possession figures, disciplinary statistics (yellow/red cards), and the team’s overall effectiveness in the season. Using such data makes materials on the site more expert and well-grounded.

Conclusion

Implementing automated widgets solves two challenges at once: it reduces the editorial workload associated with manual updates and increases audience engagement. By integrating modern football data tools, sports websites become more dynamic, informative, and better aligned with the expectations of today’s football fans.

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Modern Football Widgets for Websites: From Live Scores to Match Statistics

Jonathan Charrier is a Montreal-based entrepreneur and the founder of Charrier Global Imports, a company that connects Quebec and North American consumers with specialty foods, artisanal goods, handcrafted clothing, and wellness products from around the world. He launched the business in 2012 after years of hands-on travel and study in international trade.

Charrier grew up in Montreal’s Rosemont neighbourhood, surrounded by a mix of cultures, languages, and cuisines. Both of his parents worked in hospitality, which shaped his respect for service and long-term relationships. Weekend visits to local public markets introduced him early to global flavours, textiles, and craftsmanship.

After studying international business at a local college, Charrier chose experience over a traditional career path. He spent two years travelling through France, Italy, Peru, Brazil, and Morocco. During this time, he volunteered on vineyards, visited cooperatives, and met artisans working in small workshops. He saw first-hand how skilled producers often lacked access to larger markets despite the quality of their work.

That insight became the foundation of Charrier Global Imports. Starting from a small Mile End warehouse, Charrier built a focused catalogue that included Provençal olive oils, Peruvian textiles, and Moroccan spices sourced from a women’s cooperative. Growth came steadily through trust, consistency, and word of mouth.

Today, Charrier Global Imports supplies boutique shops, restaurants, and online customers across North America. Jonathan remains closely involved in sourcing and supplier relationships. He is known for treating producers as partners and for maintaining high standards across a diverse global supply chain.

Q&A With Jonathan Charrier

Q: You grew up in Montreal. How did that shape your career path?

Montreal played a big role. I grew up in Rosemont, which is a very mixed neighbourhood. You hear different languages on the street. You smell food from everywhere. My parents worked in hospitality, so service and people were always part of daily life. We spent a lot of weekends at public markets. That’s where I first became curious about where things come from and who makes them.

Q: You studied international business, but you didn’t follow a typical route after that. Why?

I felt that textbooks alone were not enough. I wanted to see how trade worked in real life. After college, I travelled for two years. I went to France, Italy, Peru, Brazil, and Morocco. I volunteered on vineyards. I visited cooperatives. I spent time in small workshops. Those experiences taught me more than any classroom.

Q: What stood out to you during those travels?

The biggest thing was the gap between quality and access. I met people making excellent olive oil, textiles, spices, and food products. The skill was there. The care was there. But many producers struggled to reach bigger markets. They didn’t have the contacts or the systems. That problem stayed with me.

Q: Is that what led to Charrier Global Imports?

Yes. The idea grew slowly. I wasn’t thinking about building a large company at first. I was building relationships. I listened to people’s stories. I learned how they worked. When I came back to Montreal in 2012, I rented a small warehouse in Mile End. I started with a very tight selection of products I knew well.

Q: What were those early products?

Olive oils from Provence. Handmade textiles from Peru. Moroccan spices from a women’s cooperative. Each item had a clear origin and a clear story. I focused on consistency and quality. Retailers need to trust what they’re buying. Word of mouth did most of the work in the early years.

Q: How did the business grow from there?

Slowly and carefully. I added products only when I understood the supply chain. Over time, we expanded into chocolates, teas, home goods, and wellness items. The key was not moving faster than our partners could support. Growth has to work for everyone involved.

Q: You still travel regularly to meet suppliers. Why is that important?

You can’t manage relationships from a desk forever. Visiting producers keeps things honest. You see changes early. You understand challenges on the ground. It also shows respect. These are not anonymous suppliers. They are people you rely on.

Q: How do you see your role today compared to when you started?

At the start, I did everything. Now my role is more about oversight and direction. I focus on sourcing, standards, and long-term planning. But I still stay close to the details. That’s where problems and opportunities appear first.

Q: What defines leadership in this industry for you?

Consistency. Fair dealing. Listening. Imports rely on trust across borders. If you break that trust, it spreads quickly. I believe leadership means protecting relationships, not squeezing them.

Q: Looking back, what lesson shaped your career the most?

That good business is built on understanding people. Products move, but relationships last. Everything I’ve done since those early travels comes back to that idea.

Q: And outside of work?

I like simple things. Cooking. Cycling along the Lachine Canal. Exploring restaurants in Montreal with my partner. Those moments keep me grounded and connected to why I started in the first place.

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Jonathan Charrier Montreal: Building a Global Import Business Through Trust, Craft, and Cultural Exchange

Meta has appointed former Trump administration adviser Dina Powell McCormick to a newly created senior leadership role, underlining the tech giant’s determination to accelerate its push into artificial intelligence infrastructure.

The owner of Facebook, Instagram and WhatsApp said Powell McCormick will join the company as president and vice chairman, with a remit spanning global strategy, government engagement and capital partnerships, with a particular focus on funding and scaling Meta’s vast AI ambitions.

The appointment comes just weeks after Powell McCormick stepped down from Meta’s board, a move that initially surprised investors given she had joined less than a year earlier. She will now report directly to Meta founder and chief executive Mark Zuckerberg, the company confirmed.

In a statement, Zuckerberg said Powell McCormick’s background made her uniquely suited to the role. “Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her exceptionally well placed to help Meta navigate this next phase of growth,” he said.

Meta has emerged as one of the most aggressive investors in AI infrastructure as it races rivals such as OpenAI, Microsoft and Oracle to develop increasingly powerful systems. The company is building multiple gigawatt-scale data centres across the United States, including a flagship site in Louisiana that was highlighted by former US president Donald Trump and is expected to cost as much as $50bn.

Zuckerberg has pledged to spend up to $600bn on infrastructure over the coming years and has already begun raising tens of billions of dollars in external financing to support the programme. Meta has also struck long-term energy partnerships, positioning itself as one of the world’s largest corporate buyers of nuclear power to meet the vast electricity demands of AI.

Powell McCormick will play a central role in securing and managing those capital relationships. She brings more than three decades of experience in global finance, including 16 years at Goldman Sachs, where she led the firm’s global sovereign investment banking business. Most recently, she served as president and head of global client services at investment firm BDT & MSD Partners.

She is expected to remain on BDT & MSD’s advisory board following her move to Meta.

Her appointment also reflects Meta’s growing engagement with governments as scrutiny of AI, data centres and energy use intensifies. Powell McCormick previously served as deputy national security adviser during Trump’s first term and held senior roles in the George W. Bush administration. Her husband, Dave McCormick, is currently a Republican senator for Pennsylvania.

Meta’s move comes amid intensifying competition in AI infrastructure, with rivals including Elon Musk’s xAI, which recently announced a $20bn expansion of data centre capacity near Memphis, and OpenAI-backed projects seeking to reshape global computing power.

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Former Trump adviser Dina Powell McCormick joins Meta in senior AI strategy role

Gold and silver prices have surged to fresh all-time highs, prompting experts to urge ordinary Britons to take a closer look at what they already own, including forgotten jewellery tucked away in drawers and boxes at home.

Gold climbed to $4,603.87 while silver reached $84.69, as investors piled into traditional safe-haven assets amid rising geopolitical tension involving Iran, fears of potential US military action, and fresh instability in Washington following the launch of a criminal probe into US Federal Reserve chair Jerome Powell.

While the rally has captured the attention of global markets, industry specialists say the price spike is creating tangible opportunities for everyday individuals, not just professional investors.

Jim Tannahill, managing director of London-based jewellers Suttons and Robertsons, said the current market presents genuine options for people who already hold gold or silver, whether knowingly or not.

“These all-time highs are creating real opportunities for everyday people,” he said. “If you already own gold or silver, whether physical or digital, these levels give you choices. You can sell and lock in a profit, or even use what you own as security for a short-term loan without having to part with it permanently.

“It’s also well worth checking drawers and jewellery boxes. Old, broken or unwanted jewellery can be worth far more than people expect at today’s prices. And if you’re unsure whether something is real gold, it can usually be tested and valued by carat at no cost.”

Tannahill added that exposure to precious metals does not have to mean buying bullion or financial instruments. Well-bought second-hand gold or platinum jewellery, he said, is often overlooked but can combine enjoyment with long-term value. In the UK, many jewellery items sold for under £6,000 are free from capital gains tax, while UK legal-tender gold coins such as Sovereigns are exempt altogether.

However, financial advisers have urged caution for those tempted to chase the rally by investing directly in metals at record prices.

Samuel Mather-Holgate, managing director at Swindon-based Mather and Murray Financial, warned that gold and silver do not generate income in the way traditional investments do.

“With precious metal prices at all-time highs it’s tempting to jump straight in,” he said. “But unlike shares or bonds, these assets don’t compound or generate returns beyond capital growth. The risk is buying at the top.”

Instead, he suggested that investors consider funds or companies operating within the sector. “Gold and silver miners, for example, can offer exposure while still benefiting from business fundamentals. In an increasingly dangerous world, precious metals remain a useful hedge – but how you access them matters.”

David Belle, founder and trader at Fink Money, echoed that view, saying he prefers to invest in companies rather than commodities themselves.

“When you buy a commodity, you’re entirely at the mercy of macro forces,” he said. “With a company, you have management, cash flow and balance sheets working to create value. That provides a more structured way to express a view on the market.”

Others cautioned that strong momentum can reverse quickly. Anita Wright, a chartered financial planner at Ribble Wealth Management, said record highs often encourage emotional decisions.

“Gold and silver making new highs is exciting, but this is exactly when people need to keep their heads,” she said. “Prices can overshoot and then snap back sharply on profit-taking.

“Checking jewellery boxes can be worthwhile, but do it carefully. Separate items by hallmark, weigh them, and get more than one quote from reputable buyers. Be clear whether you’re selling for scrap value or as a collectable, and remember that sentimental value can’t be recovered once an item is gone.”

Rob Mansfield, an independent financial adviser at Rootes Wealth Management, added that chasing recent gains is rarely a sound long-term strategy.

“Before buying something that has already risen sharply, people should think carefully about their objectives and what they can afford to lose,” he said. “There’s no guarantee today’s rally continues. If you do want exposure, funds or ETFs linked to miners or metals may offer a more balanced route.”

As global uncertainty continues to drive demand for safe havens, the gold and silver rally shows little sign of fading. But experts agree that while opportunity exists, discipline and perspective remain essential.

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Gold and silver hit record highs as experts urge Britons to check drawers and jewellery boxes

Rising costs are pushing UK manufacturers dangerously close to an investment tipping point, with businesses warning that planned spending could be cancelled or moved overseas unless pressures ease.

A new survey by Make UK, the manufacturing trade body, found that almost nine in ten industry leaders expect employment costs to rise this year, while two thirds anticipate higher energy bills. The findings underline mounting concern that the cost base for British manufacturing is becoming unsustainable.

The survey of 174 senior manufacturing executives revealed that 65 per cent see rising business costs as one of the biggest risks facing the sector in 2026. Make UK warned these pressures are now “threatening to reach a tipping point”, beyond which firms may be forced to scale back investment or relocate activity abroad.

Confidence in the UK as a place to invest remains fragile. Just over four in ten manufacturers believe Britain is an attractive destination for investment, a view shared by a similar proportion of overseas-owned firms operating in the UK. Against this backdrop, Make UK forecasts the manufacturing sector will shrink by 0.5 per cent this year.

Despite these concerns, the survey also revealed pockets of cautious optimism. Nearly two thirds of respondents said they believe opportunities will outweigh risks over the year ahead, while 57 per cent still regard the UK as a competitive place to manufacture.

Business leaders pointed to the government’s industrial strategy as a positive influence, with 63 per cent saying it had improved confidence about future investment prospects. However, enthusiasm is being tempered by fiscal uncertainty.

The most recent autumn budget drew particular criticism, with more than half of manufacturers saying they would have reduced planned investment had additional business tax rises been announced. Executives warned that further increases in taxation or employment costs could quickly undermine confidence.

Stephen Phipson, chief executive of Make UK, said the sector was sending a clear warning to government.

“Despite the commitment to an industrial strategy, growth remains anaemic and the warning lights are now flashing red on the UK as a competitive place to manufacture and invest,” he said. “The government promised significant change – now is the time to deliver it.”

The concerns come as broader business sentiment across the UK economy weakens. A separate survey from accountancy firm BDO found that overall optimism among businesses fell to its lowest level in almost five years at the end of 2025.

BDO’s sentiment index dropped from 93.45 to 90.01 in December, the weakest reading since January 2021, reflecting fears of a slowing jobs market, weak demand and persistent cost pressures. Confidence declined across both manufacturing and services firms.

“Business costs are rising and turnover expectations are falling,” said Scott Knight, head of growth at BDO. “Decisive action, such as further interest rate cuts and a clear roadmap of what lies ahead, is critical if firms are to grow and invest.”

While BDO’s output index edged higher, indicating modest growth, this was driven entirely by the services sector. Manufacturing activity continued to lag, with employment prospects also softening slightly.

Together, the surveys paint a picture of an industry under strain: hopeful that policy direction is improving, but increasingly concerned that rising costs and uncertainty could choke off investment just as manufacturers are being asked to drive economic growth.

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Business costs near tipping point as manufacturers warn investment is at risk

Jeremy Clarkson has sparked a fresh debate about the pressures facing British agriculture after delivering a blunt response to a social media user who blamed Brexit for the struggles of UK farmers.

The exchange followed a video Clarkson recorded in support of the farming advocacy campaign No Farmers, No Food, in which he called on the next government to put farming higher up the political agenda.

In the video, filmed on his phone, Clarkson said he wanted to see ministers prioritise agriculture and address what he described as a contradiction in policy. “We’ve been asked to diversify,” he said, “and when we try to do that, the local authorities tell us we can’t – and that needs addressing.”

The comments prompted a flurry of responses on X, formerly Twitter. One user suggested Clarkson should align himself with Reform UK to act as an intermediary between farmers and policymakers. Another took a very different view, arguing that Brexit was at the root of the sector’s problems, claiming that farms had lost EU subsidies and that it had become cheaper for retailers to source food from the continent.

Clarkson responded curtly to that claim, replying: “Oh dear. You don’t seem to have grasp of reality.”

The remark triggered a wider discussion among users about the future of farming, food security and rural policy in Britain. Several commentators urged greater support for domestic producers, with some even calling for Clarkson to take on a formal political role. Messages ranged from appeals to “always buy local” to tongue-in-cheek suggestions that the television presenter should be appointed agriculture minister.

Others echoed Clarkson’s frustration with the planning system, highlighting what they see as a double bind for farmers who are encouraged to diversify their businesses but then blocked by planning rules from doing so. Questions were also raised about land use, with some users asking why farmers face restrictions on what they can grow or build on land they own.

The No Farmers, No Food campaign was founded by James Melville, who grew up on a family farm in Scotland. The account is run collectively by farmers across the UK and regularly features contributions from high-profile figures speaking out on agricultural issues.

Clarkson, who has become a prominent voice on farming through his work on Clarkson’s Farm, has repeatedly argued that the sector is being squeezed by rising costs, restrictive regulation and policy decisions that fail to reflect the realities of running a farm. His latest intervention underlines how emotive – and politically charged – the future of British agriculture has become.

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Jeremy Clarkson dismisses Brexit criticism as farmers’ anger grows

Former chancellor Nadhim Zahawi has defected to Reform UK, becoming the most senior ex-Conservative figure to join Nigel Farage’s party.

Zahawi, 58, was unveiled alongside Farage at a press conference in London, where he warned that Britain was “drinking in the last chance saloon” and said the country “really does need Nigel Farage as prime minister”.

In a video message announcing his move, the former vaccines minister and chancellor said: “Nothing works, there is no growth, there is crime on our streets and there is an avalanche of illegal migration that anywhere else in the world would be a national emergency. I’ve made my mind up that the team which will deliver for this nation is the team that Nigel will put together.”

The defection marks a dramatic political reversal for Zahawi, who once insisted there was “no chance” he would ever join Farage. Writing in 2014, he said he had “been a Conservative all my life and will die a Conservative”. A year later, he warned that Farage’s policies could discriminate against British citizens born overseas.

Zahawi’s political career spanned more than a decade at Westminster. Elected as Conservative MP for Stratford-on-Avon in 2010, he held a series of senior cabinet roles under four prime ministers, rising to chancellor in 2022. He stepped down as an MP at the last general election after being forced out of government over a dispute surrounding his tax affairs.

Born in Iraq, Zahawi arrived in Britain as a child refugee in the 1970s after fleeing Saddam Hussein’s regime. He has previously spoken about sitting at the back of a classroom aged 11, unable to speak English. He later co-founded polling company YouGov and built a substantial personal fortune, including a large property portfolio.

His move adds further momentum to Reform UK’s efforts to present itself as a credible national political force rather than a single-person movement. Farage said Zahawi’s defection helped dispel claims that Reform was a “one-man band”.

Zahawi follows a growing list of former Conservative MPs who have joined Reform, including Nadine Dorries, Andrea Jenkyns and Lee Anderson, reflecting deepening fractures on the right of British politics.

The Conservatives dismissed the move, with a party spokesman describing Reform as “the party of has-been politicians looking for their next gravy train”. The spokesman added that Zahawi had previously said he would be “frightened” to live in a country run by Farage, questioning the consistency of his views.

Despite that criticism, Zahawi insisted his support for Reform reflected the gravity of the moment. “Even if you don’t yet realise that Britain needs Reform,” he said, “you know in your heart of hearts that our wonderful country is sick.”

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Nadhim Zahawi defects to Reform UK, calling Britain ‘last chance saloon’

Russell & Bromley, the 150-year-old luxury footwear and accessories brand, could vanish from the UK high street after a proposed takeover by Next that is expected to lead to the closure of all 37 of its stores.

Around 450 jobs are understood to be at risk under a deal that would see Next acquire only the Russell & Bromley brand and intellectual property, while the retailer’s physical estate is wound down.

Next is working alongside stock clearance specialist Retail Realisation, which is expected to oversee store closures and a fire sale of remaining inventory if the deal completes. Retail Realisation is linked to Modella Capital, a fast-growing player in high street restructurings.

Founded in 1880 in Eastbourne, Russell & Bromley was born out of the marriage of Elizabeth Russell and George Bromley, both from shoemaking families. The business has remained family-owned for five generations and is currently run by Andrew Bromley.

The potential break-up marks another chapter in the rapid reshaping of the UK retail landscape, as brands with long trading histories struggle under the combined pressure of weak consumer confidence, rising costs and structural changes to the high street.

Modella Capital, via Retail Realisation, has emerged as a prominent force behind recent retail rescues and collapses. Last year, it acquired WHSmith’s 480 high street stores in a £76 million deal, rebranding the chain as TGJones while being prevented from closing large numbers of shops under the terms of the sale.

The group has also invested in Paperchase and Tie Rack, bought arts and crafts retailer Hobbycraft in 2024, and acquired The Original Factory Shop and accessories chain Claire’s. However, both of those businesses were placed into administration last week, putting around 2,500 jobs at risk.

In announcing those administrations, Modella cited what it described as “highly adverse government fiscal policies”, alongside high inflation and subdued consumer demand.

For Next, the proposed Russell & Bromley deal fits a well-established strategy. Over the past decade, the retailer has snapped up distressed or underperforming brands including Cath Kidston, Joules and Seraphine, often retaining the brand while exiting loss-making physical retail.

Unlike many of its former rivals, Next has avoided major setbacks on the high street. While names such as Debenhams and Topshop collapsed, Next has successfully pivoted towards younger consumers and a stronger digital-led model.

The group raised its profit forecast again last week after a stronger-than-expected Christmas trading period, its fifth upgrade in the past year. Sales in the nine weeks to 27 December rose 10.6 per cent year on year, with UK sales up 5.9 per cent — ahead of expectations.

In a trading update, Next said performance benefited from improved stock availability compared with last year, when global freight disruption and supply issues in Bangladesh weighed on sales.

Russell & Bromley, Next, Retail Realisation and Modella Capital have been approached for comment.

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Russell & Bromley faces high street exit as Next takeover puts 450 jobs at risk

The UK jobs market ended 2025 on a weak footing, with both permanent and temporary hiring falling in December and unemployment already sitting at a four-year high.

A closely watched labour market survey by KPMG and the Recruitment and Employment Confederation (REC) shows that permanent staff placements dropped to a four-month low at the end of the year, while temporary roles also declined. Vacancies continued to fall and the availability of workers rose sharply, underlining a market that is loosening rather than rebounding.

The figures suggest that the uncertainty created by November’s Budget is still weighing heavily on employers. Confidence among businesses and households fell in the run-up to the fiscal event as firms braced for higher taxes and rising employment costs.

Separate data published by the REC last week showed that most employers do not expect a meaningful increase in hiring during 2026. Businesses remain constrained by higher payroll costs, including increases to the national living wage and the impact of lower National Insurance thresholds.

Neil Carberry, chief executive of the REC, said December’s survey pointed to a further deterioration compared with November, when the Budget was announced late in the month. While the overall pace of decline in placements was slightly less severe than earlier in the winter, permanent hiring fell at its fastest rate since August.

“Making this a better year for hiring will require a focus on rebuilding business confidence,” Carberry said. “With the Budget now behind us, firms need a clear and credible direction from government — from the industrial strategy to a more pragmatic approach to the Employment Rights Act, which is worrying many employers.”

The slowdown comes as unemployment has already reached 5.1 per cent in the final quarter of last year, the highest level in four years. Economists surveyed by The Times believe the jobless rate could rise further, potentially reaching 5.5 per cent in 2026 — a level not seen for more than a decade.

Despite the softening labour market and sluggish economic growth, most economists and traders expect the Bank of England to cut interest rates no more than twice this year. Lower borrowing costs would help ease the cost of hiring and investment, but policymakers remain cautious amid persistent inflationary pressures.

The Bank of England’s latest survey of decision-makers shows that businesses expect to reduce headcount in 2026, while wage settlements are forecast to edge down only marginally, from 3.8 per cent to 3.7 per cent.

That tension is reflected in the REC data, which showed pay for permanent staff rising at the fastest pace since May, suggesting inflationary pressure has not fully disappeared. Temporary pay also increased in December after stagnating in the previous two months, although overall wage growth remains below its long-term average.

Regionally, the Midlands was the strongest performer and the only part of England to record growth in temporary placements. Hiring continued to fall in London and across much of the north and south of England.

Meanwhile, recruitment firm Morgan McKinley reported that vacancies in London’s financial services sector fell 16 per cent in the final quarter of 2025, although overall job numbers in the sector were still up 16 per cent year on year — highlighting how uneven the labour market has become.

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Jobs market stalls as permanent and temporary hiring both fall