Overview

• AO World’s John Roberts said the UK is likely heading into another recession, citing inflation, higher hiring costs and leaders looking to cut staff.
• BT chief Allison Kirkby said UK telecom operators face up to 10 times the “government‑inflicted” costs of peers in Germany or the Netherlands and urged regulatory stability and planning reform.
• Barclays, Citi and J.P. Morgan executives cautioned against new bank levies and called for a stable, competitive tax regime to protect London’s financial clout.
• The OECD trimmed UK growth expectations to about 1% next year and projected the highest G7 inflation at 3.5%, intensifying scrutiny of the 26 November Budget and a fiscal gap estimated at tens of billions of pounds, with some reports citing £62bn.
• Pharma groups have paused or scrapped roughly £1.5bn–£2bn of UK investment and retail bosses warned against further levies, as the Institute of Directors unusually backed income tax rises if spending cuts cannot be delivered.