British businesses must prepare for significant changes as the Serious Fraud Office (SFO) gains new powers under the Economic Crime and Corporate Transparency Act (ECCT) starting 1 September. Companies with over 250 employees or a turnover exceeding £36m may face criminal liability for fraud committed by employees or agents. Andrew Reeves, partner at Norton Rose Fulbright, stated: “The new failure to prevent fraud offence is a real game-changer, both in terms of the risk of corporate prosecutions for fraud and what regulators now expect from anti-fraud compliance programmes.” With fraud accounting for 40% of all crime in England and Wales, businesses are urged to implement robust anti-fraud measures to mitigate risks.

The Financial Conduct Authority (FCA) has given the London Stock Exchange (LSE) the go-ahead to launch the Pisces private stock market later this year. This marks a significant milestone for the initiative, which aims to enhance liquidity in private markets. LSE CEO Julia Hoggett stated: “We are delighted to be the first venue operator to have been granted a PISCES Approval Notice by the FCA.” The market, proposed by the Treasury over two years ago, seeks to attract large private companies and provide a pathway to public listings. City minister Emma Reynolds also welcomed the FCA’s decision.

The UK’s borrowing costs have surged, with the yield on 30-year bonds reaching 5.62%, close to a 27-year high. The increase puts Chancellor Rachel Reeves under pressure to address a potential deficit of £20bn to £40bn in the upcoming autumn Budget. Economists warn of unique financial strains, including high welfare costs and stagnant productivity. Japanese investment bank Nomura said that despite public finances developing broadly in line with expectations, “a large tax-raising budget remains likely”.

The Night Time Industries Association (NTIA) reports that over 800 late-night venues have closed since 2020, marking a 26.4% decline in the sector. This trend threatens cultural institutions and the creative economy, according to NTIA chief executive Michael Kill, who said: “We’re witnessing the loss of important social infrastructure.” The broader hospitality sector has lost 89,000 jobs since the Government’s autumn Budget, exacerbated by tax increases. The NTIA urges the Government to cut VAT and reverse national insurance hikes to prevent further closures and protect the night-time economy.

Labour’s proposed Employment Rights Bill will impose an additional £80m annual cost on businesses, according to employment lawyers. The legislation, deemed “the most expensive and complex” in a generation, includes protections against unfair dismissal and a ban on zero-hours contracts. TWM Solicitors estimate the total cost to firms could reach £5bn annually. Anthony Wilcox, an employment law specialist at TWM, stated: “Employers are rightly very concerned both by the cost of this legislation and the amount of new red tape it will smother them with.” Businesses fear the bill may hinder hiring and overwhelm employment tribunals.

US President Donald Trump has threatened tariffs on countries imposing digital taxes targeting US tech firms like Google and Amazon. He stated that these taxes, including the UK’s digital services tax (DST), harm American companies while favouring Chinese tech. The UK’s DST, which generates around £800m annually, has faced criticism from US officials. Trump warned: “Unless these discriminatory actions are removed, I will impose substantial additional tariffs on that country’s exports to the USA, and institute export restrictions on our highly protected technology and chips.”

The UK Government plans to eliminate export licence fees for food and agricultural products by 2027. Last year, businesses incurred costs between £37m and £65m for 328,727 licences to export to the EU. Nick Thomas-Symonds, the Cabinet Office minister, will announce a commitment during an event hosted at the Spectator offices in London.

Catherine Mann, a member of the Monetary Policy Committee at the Bank of England, has warned that inflation may remain “persistently elevated” without stricter monetary policy. In a recent speech, she highlighted the risk of further price rises, particularly due to food inflation, which reached 4.2% in August. Mann stated: “By squeezing out inflation today, you prevent it from persisting in the future.” She cautioned against rapid rate cuts, suggesting they could lead to higher inflation later.

A survey commissioned by David Lloyd Clubs has found that the feeling of dread as the weekend draws to a close – dubbed the ‘Sunday Scaries’ – affects not only adults but also schoolchildren, with 67% of parents seeing signs in their kids. Parents reported signs such as grumpiness (35%), frequent questioning about the week ahead (36%), and attempts to avoid homework or school prep (31%). The findings suggest that anxiety about the week ahead often begins in childhood and can persist into working life.