News

Donald Trump’s social media venture, Trump Media & Technology Group (TMTG), has unveiled plans to expand into cryptocurrency and fintech services through a new brand dubbed Truth.Fi.

The announcement sent shares in TMTG—owner of the Truth Social platform—up 15% in pre-market trading on Wednesday.

Under the Truth.Fi banner, TMTG says it will invest up to $250m in investment accounts and “Bitcoin and similar cryptocurrencies or crypto-related securities”. The funds will be managed by the brokerage Charles Schwab.

The move is likely to spark fresh scrutiny over conflict of interest concerns, given Trump’s position as US president. The president was criticised last week for launching a multibillion-dollar meme coin on the eve of his inauguration, with former government ethics officials describing the timing as “shameful”.

TMTG has thus far struggled to build a social network that can rival the likes of Meta Platforms’ Facebook and Instagram, or X, owned by Elon Musk. Even so, the company has managed to raise tens of millions since it went public last year, buoyed by its status as a so-called “meme stock”.

According to Wednesday’s statement, TMTG, which is majority-owned by Trump, plans to roll out “multiple investment vehicles” under the Truth.Fi label in the coming months. Devin Nunes, chief executive of TMTG, hailed the new venture as a “natural expansion of the Truth Social movement”, adding that Truth.Fi will help “American patriots” protect themselves from what he labelled “cancel culture” and “big tech censorship”.

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Trump Media turns to cryptocurrency with new truth.fi venture

Leading audit, tax and advisory firm Blick Rothenberg is calling on the Chancellor, Rachel Reeves, to reconsider her approach to boosting the UK economy.

According to Partner Simon Gleeson, the government’s current focus on large-scale, long-term infrastructure projects overlooks pressing political and economic realities.

“The Chancellor gave a speech today outlining her plans for improving the UK’s growth,” Gleeson said. “However, ‘growth’ seems to have become a catch-all term that sidesteps the real challenges facing major infrastructure initiatives, such as HS2 and its cost overruns.”

Gleeson questioned the viability of the Chancellor’s “short-term pain, long-term gain” narrative, pointing out that major projects like a third runway at Heathrow could take over a decade to deliver. Likewise, creating a ‘Silicon Valley’ between Oxford and Cambridge is a longer-term commitment requiring substantial public investment. “These are major undertakings when the so-called ‘£22 billion black hole’ is still part of the economic conversation,” he added.

Instead, Gleeson argued that the Chancellor should prioritise policies that can generate immediate, sustainable growth. “The UK economy is stagnating,” he said. “Rethinking Employers NIC changes could be the government’s ‘mea culpa’ moment—acknowledging a misstep and offering a prompt solution, rather than focusing on aspirational long-term targets.”

He explained that pausing and revising these national insurance contributions would positively impact family incomes, job creation, and the upskilling of younger generations, including apprentices and recent graduates. “Unlocking investment from pension funds and driving deregulation in business are also more realistic ways to create jobs and stabilise working-class incomes,” Gleeson said, emphasising that any further uncertainty could harm both individuals and businesses.

The public, Gleeson continued, is “tired of hearing about ‘the last Government’,” and now needs concrete action from the current administration. “Casting blame and talking only about future, long-term objectives isn’t enough,” he said. “We need a clear, immediate economic strategy that delivers tangible results.”

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Chancellor needs to stop relying on selling futures and rethink economic strategy for the present

Chancellor Rachel Reeves has given her official backing to plans for a third runway at Heathrow, arguing that the expansion could create more than 100,000 jobs and significantly boost the nation’s economic output.

“A third runway is badly needed,” she said, pointing to projections suggesting a 0.43% rise in potential GDP by 2050 if the airport is expanded.

Reeves emphasised Heathrow’s central role in the UK’s global connectivity, noting that the airport facilitates three-quarters of all British long-haul flights, handles over 60% of UK air freight, and served around 15 million business travellers in 2023 alone. “Heathrow is at the heart of the UK’s openness as a country,” she said. “It connects us to emerging markets all over the world, opening up new opportunities for growth. Yet for decades its growth has been constrained. Successive studies have shown that this really matters for our economy.”

Addressing environmental and community concerns, Reeves said Heathrow’s operators are committed to meeting stringent requirements on noise, air quality and carbon emissions, and she highlighted ongoing efforts to decarbonise the aviation sector. “We are already making great strides in transitioning to cleaner and greener aviation,” she added. The chancellor’s endorsement underscores the government’s view that airport expansion is critical to maintaining the UK’s competitive edge while meeting future travel demand.

Reacting to announcement, Heathrow CEO Thomas Woldbye said: “We welcome the Chancellor’s support for the aviation industry and recognition of the critical role we play for the economy and in delivering growth across the UK.

“Heathrow is the UK’s gateway to growth and prosperity. A third runway and the infrastructure that comes with it would unlock billions of pounds of private money to stimulate the UK supply chain during construction. Once built, it would create jobs and drive trade, tourism and inward investment to every part of the country. It would also give airlines and passengers the competitive, resilient hub airport they expect while putting the UK back on the map at the heart of the global economy. With strict environmental safeguards, it would demonstrate that by growing our economy responsibly we can ensure our commitments to future generations are delivered.

“This is the bold, responsible vision the UK needs to thrive in the 21st century, and I thank the Government and Chancellor for their leadership. It has given us the confidence to confirm our continued support for expanding Heathrow. Successfully delivering the project at pace requires policy change – particularly around necessary airspace modernisation and making the regulatory model fit for purpose. We will now work with the Government on the expected planning reform and support Ministers to deliver the changes which will set us on track to securing planning permission before the end of this Parliament.”

Reacting to the chancellor’s speech, Rosie Downes, head of campaigns at Friends of the Earth, said: “Rachel Reeves’ ‘growth trumps all’ approach is the kind of dangerously short-sighted thinking that has helped cause the climate crisis and left the UK one of the most nature-depleted countries in the world.

“Giving the go-ahead to airport expansion by depending on new, unreliable technologies, like ‘sustainable aviation fuels’ would be a reckless gamble with our future and risks the UK missing critical climate reduction targets even if we rapidly expand renewable energy.

“Similarly, allowing developers to bulldoze their way through crucial nature protections and safeguards will further diminish our seriously under-threat wildlife and natural environment.

“The net zero economy is the UK’s fastest growing sector, the government should seize the huge benefits that building a greener future will bring through cheap homegrown renewable energy and warm well-insulated homes, not back damaging projects like airports and the Lower Thames Crossing.

“Sacrificing nature and our climate isn’t leadership, it’s rash, short-sighted and a sure-fire way to lose the trust of those who believed Labour’s election promises on the environment. Instead the Chancellor must embrace green growth.”

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Reeves gives official backing to plans for a third runway at Heathrow

Jaguar Land Rover (JLR) has reported a 17% drop in quarterly profit, down to £523m in the final three months of last year, even as the automotive group achieved its best third-quarter revenue on record. The company’s sales for the period rose 2% year-on-year to £7.5bn.

However, over the first nine months of its financial year, total revenue remained flat at £21.2bn.

Despite the quarterly decline, JLR said year-to-date profits have increased 7% to £1.6bn, which it described as its strongest performance at this stage of the year in a decade. The results follow the high-profile launch of JLR’s “fearlessly creative” Type 00 electric vehicle in December—an unveiling that attracted global attention.

Meanwhile, the waiting list for JLR’s first fully electric Range Rover has reached 57,000 orders. The SUV is slated to hit the market later this year. JLR chief executive Adrian Mardell noted that the company had delivered “record third-quarter revenue” and the best profit margins seen in a decade. He emphasised that despite a “challenging economic backdrop,” the firm is on course to meet its profitability and cash-flow objectives for the year.

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Jaguar land rover sees profits dip by 17% despite record quarterly revenue

Lloyds Banking Group has announced plans to close another 136 high-street branches across the UK, with 61 Lloyds, 61 Halifax and 14 Bank of Scotland sites scheduled to shut between May and March 2026.

The move follows the bank seeing that more and more customers are conducting day-to-day transactions via digital platforms, with over 20 million people now accessing Lloyds, Halifax and Bank of Scotland services through apps.

Employees affected by the closures will be offered alternative positions within the group, which is expected to have 756 branches remaining by the end of March next year—down from its current total of around 932.

A Lloyds spokesperson emphasised that the shift to online banking provides “more choice and flexibility than ever”, though critics warn of the broader impacts. Michelle Lawson, director at Lawson Financial, labelled the closures “a potential death knell for the high street”, warning that local footfall could suffer and negatively affect independent businesses. Similarly, Albion Financial Advice director Dariusz Karpowicz pointed out that while the decline in branch usage is inevitable in a digital era, banks risk excluding elderly and vulnerable customers who depend on face-to-face services.

This latest announcement underscores an accelerating trend away from physical branches in the UK banking industry, with more institutions relying on digital channels to cater to evolving consumer habits.

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Lloyds Banking Group announces closure of a further 136 branches

As a busy business owner, managing your energy is very important for maintaining productivity and well-being. Between back-to-back meetings, constant decision-making, and the pressure of growing your business, staying energized can feel like an impossible task.

But there are simple, effective habits you can adopt to keep your energy levels up throughout the day. One powerful addition to your routine is the best psyllium husk powder, which helps improve digestion and sustain energy. Let’s dive into how you can stay energized and focused, ensuring that your business continues to thrive.

Why Energy Management is Crucial for Business Success

For business owners, energy isn’t just about avoiding burnout—it’s a key driver of success. High energy levels directly affect your productivity, decision-making, and ability to handle the challenges of running a business. When you feel sluggish, everything becomes harder—from answering emails to making critical decisions. Studies even show that low energy and fatigue contribute to decreased efficiency, which can lead to business setbacks. Learning how to manage your energy effectively will not only help boost productivity at work but also improve your mental clarity and focus for long-term success.

Small Changes That Make a Big Impact

You don’t need drastic changes to see big results. Following the simple habits highlighted below  can make a huge difference:

Start your day right: Kick off with a healthy, balanced breakfast that includes whole grains, fruits, and proteins. Combine this with plenty of water to hydrate your body.
Take breaks: Short, frequent breaks throughout the day can help you avoid mental fatigue and stay focused. A 10-minute walk or stretching session can work wonders.
Prioritize tasks: Tackle the most important tasks first thing in the morning when your energy is at its peak.
Move more: Incorporating physical activity into your daily routine, even for just 20 minutes, can improve circulation and boost energy levels.
These small adjustments can add up to a powerful routine that keeps you going strong throughout the day.

Healthy Nutrition for Sustained Energy

What you put into your body significantly affects how you feel throughout the day. Nutrient-dense foods—like whole grains, leafy vegetables, and lean proteins—give you lasting energy without the crashes associated with sugary snacks. A healthy gut is also critical for overall energy, which is where the best psyllium husk powder comes in. Adding psyllium husk powder to your morning routine helps support digestive health, prevent bloating, and promote steady energy levels. It’s easy to incorporate into your diet by mixing it with water, smoothies, or even your morning oatmeal. Not only will this fiber supplement support your digestive system, but it also helps you feel fuller longer, reducing the temptation to reach for unhealthy snacks that can drain your energy.

Mindset Matters: Energize Your Mental Game

Mental energy is just as important as physical energy for business owners. When stress or negative thoughts take over, they can drain your energy quickly. Incorporating stress management techniques like deep breathing, mindfulness, or journaling can help clear your mind and keep you focused. Maintaining a positive mindset also helps you handle challenges with resilience, reducing mental fatigue and boosting your overall energy levels.

Conclusion

Staying energized as a busy business owner requires more than just a good night’s sleep. It’s about adopting healthy habits, maintaining a balanced diet, and prioritizing your mental well-being. The best psyllium husk powder can play an essential role in supporting your digestion and helping you maintain energy throughout the day. Remember, small changes lead to big results, and managing your energy will empower you to handle whatever comes your way. By following these simple steps, you can thrive in both your personal health and business success.

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The Secret to Staying Energized for Busy Business Owners: Habits That Actually Work

Fuel Ventures, one of the UK’s leading venture capital firms, has led a £4 million funding round in Prosper, a high-net-worth wealth management platform that combines cutting-edge AI with expert financial insights.

Fuel Ventures contributed £2 million of the total round, which also saw participation from existing investors.

Prosper, which already has more than £200 million in assets under administration, plans to use this capital to scale its customer base, launch its private market investment offering, and accelerate development of its AI-driven solutions. By leveraging AI, the company aims to deliver a highly personalised customer experience and diversify clients’ portfolios, potentially leading to stronger long-term returns.

This round follows an earlier angel investment that brought on an impressive roster of backers, including the founders of Monzo, Capital One, World First, Tandem, Azimo, and Embark, along with institutional investments from Silicon Valley’s Andreessen Horowitz (A16Z), Connect Ventures, MMC Ventures, and Portfolio Ventures. Prosper’s founding team includes veterans from fintech companies such as Nutmeg and Tandem Bank.

Talking about the investment, Mark Pearson, founder of Fuel Ventures, said: “Prosper stands out as a truly innovative player in the wealth management space. Their use of AI to provide tailored financial help for clients at scale addresses a significant market need. Nick, Ricky, and the Prosper team are already making huge waves in the finance industry, and we look forward to seeing how they continue to redefine how wealth management services are delivered in 2025.”

Ricky Knox, chairman and co-founder of Prosper, added: “We are thrilled to close our latest investment round and have the likes of Fuel Ventures join us on this journey to reshape wealth management. Their belief in our mission to revolutionise wealth management in favour of the customer is so important to us. With this investment, we’re excited to expand our AI-driven solutions to serve even more clients and deliver exceptional value.”

With the support of Fuel Ventures, Prosper is poised to set a new standard in wealth management, offering a modern alternative for high-net-worth clients seeking technology-driven services and transparent investment strategies.

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Fuel Ventures leads £4M investment in Prosper to transform wealth management

BGF, the most active growth capital investor in the UK and Ireland, deployed £489 million in 2024, welcoming 47 new businesses into its expanding portfolio of 360 companies.

Despite a subdued mergers and acquisitions landscape, several of BGF’s portfolio firms enjoyed robust exits this year, underscoring the benefits of BGF’s investment and value creation model. Engineering design consultancy Hydrock, design automation specialist DriveWorks, and education recruitment provider Operam Education all exited successfully, delivering money multiples of 6x, 2.8x, and 2.5x respectively.

BGF typically invests in return for a minority equity stake, offering entrepreneurs a critical alternative funding source to fuel growth ahead of a future exit. “We’re pleased to have welcomed a new cohort of entrepreneurial companies that are driving growth, creating jobs, boosting exports, and fostering innovation across the UK and Ireland,” said Andy Gregory, CEO of BGF.

Since its inception, BGF has surpassed £4 billion in total investments, having supported over 600 ambitious SMEs. In 2024 alone, the organisation channelled funds into a diverse range of ventures, reflecting its commitment to regional growth. Recent investments include Elite Dynamics in the North West, Skewb in the Midlands, Woodland Kitchens in Northern Ireland and Sulmara in Scotland. Additional examples include Eventmaster in the Republic of Ireland, Tevalis in Yorkshire, Vosaio in the South East, Tapered Plus in the North East, Pure Cyber in Wales, and Plant-Ex in the South West.

BGF is also driving progress in critical global areas such as sustainability and life sciences, with investments in Sunswap (pictured), Puraffinity, DEScycle, Wobble Genomics, NanoSyrinx, and Abselion. Notably, BGF joined forces with other key investors to commit £25 million to the Invest in Women Taskforce, which has amassed £250 million for female entrepreneurs and women-led businesses across the UK.

Looking ahead to 2025, Gregory emphasised BGF’s dedication to fostering business success and strengthening local economies: “As we move into 2025, we remain committed to driving growth, supporting value creation for businesses and shareholders, and playing a key role in delivering the sustainable growth the economy needs now and in the future.”

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BGF supports UK and Ireland’s growth with £489M in 2024 investments

Rachel Reeves is set to announce an ambitious package of measures aimed at jump-starting Britain’s flagging economy, as she positions her government’s growth drive alongside Margaret Thatcher’s 1980s approach to deregulation.

In her speech on Wednesday, the Chancellor will throw her weight behind a series of high-profile infrastructure and development projects, including an expansion of Heathrow Airport, the creation of a “European Silicon Valley” between Oxford and Cambridge, and regeneration around Manchester United’s Old Trafford.

Critics, however, have voiced scepticism about the government’s sudden shift towards pro-growth policies, claiming that a raft of tax hikes and regulatory changes has already undermined business confidence. They highlight the Chancellor’s extensive Budget tax plans and the new workers’ rights framework, as well as strict environmental regulations. Some industry leaders accuse ministers of taking seven months to respond to deteriorating economic conditions—by contrast, they point to how Donald Trump launched a significant economic stimulus package within days of assuming office in the US.

Reeves’s new plan includes an East-West Rail link between Oxford and Milton Keynes, improvements to the road linking that route to Cambridge, and the development of new towns along the Oxford-Cambridge corridor—an area she says could generate as much as £78 billion for the economy by 2035. This shift underscores a departure from the previous government’s “levelling up” agenda, which targeted investment in left-behind regions across the North and Midlands. Instead, Reeves places the focus on delivering faster travel connections and more affordable housing in one of the country’s most innovation-driven regions.

Alongside infrastructure upgrades, Reeves is expected to endorse a third runway at Heathrow and expansion at other key airports such as Gatwick and Luton. While any buildout would take years to complete, it marks a notable change in tone, with Labour leader Keir Starmer citing Thatcher’s deregulation of the City as a model for the “morass of regulation” that his government plans to overhaul. He frames this drive as crucial to unlocking billions of pounds of private investment, dismissing suggestions that growth and green policies are incompatible.

Yet the new pro-growth rhetoric arrives as ministers proceed with measures that many firms argue are stifling expansion. Despite the introduction of a ‘growth test’ to filter out policies deemed detrimental to the economy, some planned initiatives—such as a £25 billion National Insurance increase and a ban on new oil and gas exploration—remain in place. Critics have seized on these apparent contradictions, questioning how the government can claim to support expansion while imposing higher costs on employers.

Entrepreneurs in the private sector also complain of mixed signals. Sportswear founder Tom Behan, for instance, describes the business climate as “incredibly challenging,” saying the current administration has been slow to offer clarity and leadership. He points out that, while the US unveiled a vast funding package for AI within days of a new presidency, it has taken the UK government over half a year to propose fresh growth measures.

Despite these criticisms, Reeves is pressing ahead with her reforms, emphasising that forging a stable and dynamic economy requires decisive action, including “tough trade-offs” between growth, environmental commitments and workers’ rights. Business groups remain eager for concrete follow-through and a swift timeline, warning that Britain’s competitive edge could erode if momentum stalls yet again.

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Rachel Reeves to unveil ‘Thatcher-style’ growth agenda as businesses demand swift action

More than one in five UK employees feel unable to discuss their mental health in the workplace, according to new research. The analysis reveals that 7.5 million workers struggle with anxiety, depression or stress that is caused or exacerbated by their jobs, yet do not feel safe disclosing their difficulties to employers.

Drawing on data from the Health and Safety Executive (HSE) and the Chartered Institute of Personnel and Development (CIPD), the study also shows a gender gap in seeking help. In the past year, 3.9 million men reported suffering with mental health issues at work without asking for support—8% more than the 3.5 million women who said they experienced similar challenges.

Automotive workplaces emerged as the sector with the highest proportion of ‘silent’ sufferers, at 1.13 million, followed by health and social care settings, where 1.11 million individuals reported managing mental health issues privately. In contrast, the arts, entertainment and recreation industry—and the financial and insurance sector—had the lowest numbers of people struggling unseen, at 264,000 and 256,000 respectively.

Richard Stockley, Managing Director at RRC International, who conducted the research describes the findings as “shocking,” pointing out that despite recent progress in tackling stigma, workers are still not comfortable disclosing mental health difficulties. “Our research shines a very necessary light on the issue to help employers better understand just how widespread mental health challenges are. Change begins in the workplace, and with the right culture and training, employers can ensure their businesses are safe spaces for all who work there,” he said.

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7.5 million UK workers ‘suffer in silence’ over mental health challenges at work