Rolls Royce reveals 'optimism' as Royal Mail takeover rubber-stamped and Birmingham bin strikes deal edges closer
The US and Ukraine have signed a deal to share profits from future mineral sales. The agreement is part of plans to repay $175 billion in US military aid. It includes a new investment fund and aims to support long-term reconstruction. Trump officials say it signals US commitment to a free and prosperous Ukraine.
Birmingham bin strikes: Is a deal close? Royal Mail takeover approved and Rolls Royce optimism: More business in brief
- Lloyds Banking Group has reported a 7 per cent drop in quarterly profits to £1.52 billion. The lender set aside £309 million for bad debts amid growing economic uncertainty. That includes £100 million linked to fears over Trump’s global trade tariff hikes. Lloyds says it’s preparing for potential borrower defaults as global risks rise.
- Crucial talks to resolve Birmingham’s long-running bin strike are taking place today. Unite boss Sharon Graham is leading the discussions, overseen by Acas. The union says a deal could be close.
There’s no shortage of global uncertainty right now - trade tensions are flaring, geopolitical risks are rising, and economic forecasts are twitchy at best. And yet, a surprising number of British businesses 'seem' to be weathering the storm with quiet confidence. Rolls-Royce, for one, has called its start to 2025 “strong” - but it’s not all smooth sailing.
The engineering group warned of growing uncertainty due to rising global tariffs and ongoing supply chain challenges. Its message to investors was measured: profits and cash flow forecasts are unchanged, and actions are being taken to cushion any blows.
It’s a cautious kind of optimism - not celebration. On the global front, the newly signed US-Ukraine minerals deal has raised eyebrows. For some, it smacks of diplomatic exploitation, the price of long-term aid repaid through resource rights.
For others, it’s a step toward economic reconstruction, giving Ukraine a long-term partner in rebuilding its future. Either way, it blends diplomacy with dollars - a hallmark of modern geopolitics.
Meanwhile, UK banks are still posting respectable profits, but warning signs are flashing. Lloyds has set aside £309 million for bad debts, including £100 million linked to Trump’s new trade tariffs. Barclays, too, has upped its loan loss provisions. Banks aren’t panicking - but they are preparing. Against this backdrop, some businesses are still making bold moves.
PUMA’s decision to relocate its UK head office from London to Manchester is a vote of confidence in regional growth. National Grid’s incoming CEO signals steady leadership at a crucial time for the energy sector. So while the headlines are packed with uncertainty, the underlying picture is more nuanced. Britain’s biggest firms aren’t ignoring the risks - but they are, for now, keeping the wheels turning.
- National Grid has named Zoë Yujnovich as its next Chief Executive. She’ll take over in November, succeeding John Pettigrew after nearly a decade in the role. Yujnovich joins from Shell and brings extensive experience in global energy.
- Royal Mail’s £3.6 billion takeover by billionaire Daniel Kretinsky has been approved. Shareholders backed the deal, paving the way for foreign ownership. 80 per cent of investors supported the move, passing the 75 per cent threshold. The deal faced delays, awaiting approval from Romanian authorities.
- Rolls-Royce says it’s had a strong start to the year, with all divisions performing well. The CEO told shareholders the firm remains on track to meet 2025 targets. The company expects to offset any impact from new global tariffs.
- PUMA is relocating its UK head office from London to Manchester. The sportswear giant has signed a lease at Circle Square, a major city development. Its new 20,000 sq ft space will house key departments including sales and marketing.
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