Business

War in Middle East ‘could wipe out growth in UK living standards’
Posted on Wednesday March 04, 2026

Rising oil and gas prices may affect increase of £300 a year for typical working-age households, says leading thinktankThe Middle East crisis could trigger an energy price shock that more than wipes out the £300 rise in living standards a typical working-age household could otherwise expect this year, a leading thinktank has warned.The Resolution Foundation said a “decent” one-off increase in average living standards in 2026 and a bumper rise for lower-income households could be reversed by rising oil and gas prices as the Iran conflict disrupts supplies. Continue reading...

European Commission proposes ‘Buy EU’ plan to compete against China
Posted on Wednesday March 04, 2026

Plan, which aims to preserve jobs in clean tech and low-carbon sectors, could include UK if there is reciprocal market accessThe European Commission has proposed a “Buy EU” plan to boost domestic low-carbon industries and help the continent compete against China.The commission published a draft regulation – called the Industrial Accelerator Act – on Wednesday, setting demands for EU-made and low-carbon content on bodies spending public money. The rules mark a big shift in economic thinking from Brussels, long a bastion of open markets. Continue reading...

Small investors turn on James Watt after BrewDog co-founder admits ‘many mistakes’
Posted on Wednesday March 04, 2026

Watt apologises to 200,000-plus ‘equity punks’ who joined crowdfunding rounds but were left empty-handed after cut-price saleThe co-founder of BrewDog, James Watt, met with short shrift from small investors who have been left empty-handed by the company’s sale for just £33m, after he admitted to “many mistakes”.Watt issued a mea culpa via the professional social networking site LinkedIn, a platform he has regularly used to espouse political views, including complaints about the level of tax he is asked to pay. Continue reading...

Dassault Aviation says €100bn project may soon be ‘dead’ if Airbus will not agree on how to share workloadFrance and Germany’s next-generation fighter jet project could soon be “dead”, one of the two companies tasked with delivering it has warned, amid a worsening corporate rift over who gets to build the aircraft.Dassault Aviation, France’s leading warplane maker, said Airbus’s defence arm – which represents Germany and Spain – needed to cooperate on the €100bn programme otherwise it would collapse. Continue reading...

Middle East conflict offers economic lifeline to Russia’s flagging war machine
Posted on Wednesday March 04, 2026

With much of the world’s oil supplies out of action, Russia could step in to meet demand in China and IndiaA prolonged energy crisis triggered by the widening war in the Middle East could offer an economic lifeline to Russia’s war machine at a moment when it was beginning to show signs of strain.The sharp weakening and possible collapse of the regime in Iran would deprive the Kremlin of one of its closest regional partners. But that setback could be outweighed by an economic windfall if disruption pushes buyers toward Russian energy, alongside a possible slowdown in western arms supplies to Ukraine. Continue reading...

Nvidia and UK Wealth Fund invest in British autonomous driving startup Oxa
Posted on Wednesday March 04, 2026

Oxford-based firm has raised $103m for commercial development of software for self-driving industrial vehiclesNvidia is investing in the British autonomous driving startup Oxa, alongside backing from the UK’s National Wealth Fund, in a boost to the country’s technology sector.The Oxford-based company, which has developed software for self-driving industrial vehicles, said it had raised $103m (£77m) from investors to focus on commercial solutions for that software, as well as its physical AI and robotics technology, and to push on with its global expansion plans. Continue reading...

South West Water admits criminal offence over Devon parasite outbreak
Posted on Wednesday March 04, 2026

Firm admits supplying water unfit for human consumption after nearly 150 people fell ill A major utility company has admitted supplying water unfit for human consumption after a parasite outbreak in Devon made almost 150 people sick.South West Water (SWW) pleaded guilty to the criminal offence relating to the cryptosporidiosis outbreak in Brixham, Devon, which affected 2,500 homes. Continue reading...