Business

FTSE 100 Closes Cautiously as Markets Eye US-Iran Ceasefire Talks

The FTSE 100 closed almost flat on Friday at 10,601 points as investors adopted a cautious stance ahead of US-Iran ceasefire talks, though the index still recorded a weekly gain of 1.6%. Metals and mining stocks provided support while defence shares fell, with markets weighing the potential for an Iran deal to ease energy price pressures on the UK economy.

FTSE 100 Edges Lower as Ceasefire Uncertainty Weighs on Markets

The FTSE 100 closed marginally lower at 10,604 points on Thursday as investor caution over the fragile US-Iran ceasefire and Strait of Hormuz uncertainty offset earlier relief rally gains. UK government borrowing hit its third-highest level since 1947 at £151.9 billion, while Chancellor Rachel Reeves continues to negotiate a trade deal in Washington to shield British businesses from US tariffs.

ESRI Report Warns AI Will Cost Irish Jobs — and Highly-Skilled Workers Are Most at Risk

A new ESRI report, produced with Ireland's Department of Finance, warns that AI adoption will lead to significant job losses in Ireland, with highly-skilled and educated workers facing the greatest risk. The report challenges the assumption that AI primarily threatens low-skilled roles and calls for urgent investment in reskilling programmes.

UK Electric Car Sales Hit All-Time Record in March as Fuel Crisis Drives EV Surge

The UK recorded its highest-ever monthly electric vehicle sales in March 2026, with 86,120 battery electric cars registered — a 24 per cent year-on-year rise — as soaring fuel prices driven by the Iran conflict pushed more drivers towards EVs. Despite the record, the 22.6 per cent market share still falls short of the government's 33 per cent ZEV mandate target for 2026.

Northern Ireland Hospitality Sector 'Losing Business Hand Over Fist' to Republic's Lower VAT

Northern Ireland's hospitality businesses say they are losing customers to the Republic of Ireland due to a stark VAT disparity — the UK charges 20% while the Republic's rate is set to fall to 9%. Industry body Hospitality Ulster estimates 2,000 jobs have already been lost as a result.

UK Businesses Hit by 'Tariff Fatigue' as US Trade Uncertainty Deepens

UK businesses are suffering from 'tariff fatigue' as persistent US trade threats and a shifting legal landscape continue to undermine confidence and investment. A British Chambers of Commerce survey found a third of exposed firms are already taking action, with nearly half now prioritising trade diversification over US negotiations. New US Section 301 investigations into forced labour practices have placed the UK in scope for potentially uncapped additional tariffs.

UK Energy Bills Set to Rise 18% as Global Markets Rally on Iran Ceasefire Hopes

UK energy bills are set to rise 18% from July as the US-Iran conflict drives oil and gas prices higher, with annual bills projected to reach £1,929. Global markets staged a sharp relief rally on Easter Monday after President Trump signalled ceasefire talks were under way, but analysts warn the chances of a deal within 48 hours remain slim.

British Steel on Verge of Full Nationalisation as Government Deadline Looms

The UK government is on the verge of fully nationalising British Steel after negotiations with Chinese owner Jingye broke down, with ministers expected to set a formal deadline for a deal. The move would secure the future of the UK's last remaining blast furnaces at Scunthorpe, which the government has designated as vital to national security.

Bank of England Holds Rates at 3.75% as Middle East Crisis Fuels UK Inflation Fears

The Bank of England has held interest rates at 3.75%, warning that the Middle East conflict has caused a significant surge in global energy prices that threatens to push UK inflation back up to 3.5% by the third quarter of 2026. Financial markets reacted sharply, with the FTSE 100 falling 2.35% and energy prices spiking.

UK Becomes First Country to Secure Zero-Tariff Pharma Deal with US as NHS Faces Higher Medicine Costs

The UK has finalised a pharmaceutical trade deal with the US making Britain the first country to secure zero tariffs on drug exports to America, protecting £5 billion in annual exports and 50,000 jobs. However, critics warn the deal will cost the NHS billions more in higher medicine prices, with the NHS set to pay 25% more for new drugs launched after April 2026.

UK Businesses Sound Fresh Alarm Over Iran War Supply Chain Disruption as Concerns Hit Highest Level Since 2024