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Business confidence slipped over the past month as firms wrestled with stubborn inflationary and cost pressures, with the Middle East war now into its fifth month, according to a survey published today.

The index of sentiment among private-sector companies compiled by Lloyds Bank’s Business Barometer fell by 3 points to 44 per cent in June, leaving it below the 12-month average of 47 per cent. Economic optimism also dropped, down 4 points to 31 per cent.

The lender said businesses were most worried about the rising cost of production, a concern likely tied to the higher energy prices triggered by the Gulf conflict. Over the weekend the United States and Iran traded strikes, each accusing the other of breaching the terms of the ceasefire agreement.

The decline in confidence was most pronounced among manufacturers, where optimism tumbled by 10 points to 33 per cent, a reflection of the sector’s heavy energy use. The reading among retailers fell by 8 points to 45 per cent. Energy costs have remained the single biggest brake on SME growth for much of the past year, with smaller firms warning they have no price-cap protection of the kind afforded to households.

Although inflationary worries persist, oil prices have eased sharply in recent weeks. The price of a barrel of Brent crude, the international benchmark, has fallen back below the levels seen before the conflict broke out at the end of February.

Amanda Murphy, chief executive for Lloyds Business and Commercial Banking, said: “While cost pressures and global uncertainty continue to weigh on business confidence, international firms are much more confident, with many seeing signs of supply chain disruption easing and strengthening customer demand.”

There was better news on jobs. Lloyds said companies’ hiring intentions rose for the first time in three months. Some 55 per cent of the 1,200 firms surveyed said they wanted to expand their workforce, against 14 per cent planning to cut headcount, a fall of 3 points over the month.

Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said: “Overall, while some sectors are holding up, the data suggests that uncertainty is still feeding through unevenly and weighing more heavily on parts of the economy than others.”

The figures may signal that the UK labour market is in the early stages of stabilising after two years of weakening. Data from the Office for National Statistics showed vacancies have fallen to their lowest level in five years.

Growth has also taken a knock from the war. GDP contracted by 0.1 per cent in April, the latest ONS figures show, and the closely watched purchasing managers’ index revealed that activity in the private sector dropped to a 14-month low.

The fall in confidence over the past month may equally be tied to the latest bout of political and policy uncertainty in Westminster, after Sir Keir Starmer resigned as prime minister earlier this month, clearing the way for Andy Burnham to enter No 10 as soon as mid-July.

Mr Burnham has yet to flesh out his tax and spending plans or name his chancellor. Ed Miliband and Wes Streeting are regarded as the most likely picks to replace Rachel Reeves in No 11. Starmer’s probable successor has signalled a preference for lowering VAT on the hospitality industry and overhauling the business rates regime.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Rep. Max Miller, R-Ohio, blasted American Airlines on Monday after a lengthy delay left him and two other members of Congress unable to return to the Capitol in time for House votes.

Miller said the delay caused him and two other lawmakers to miss votes Monday evening, including final passage of the Kids Internet and Digital Safety (KIDS) Act, which cleared the House by a 267-117 vote. The legislation would require major online platforms to adopt new safeguards for minors, including expanded parental controls, limits on certain messaging features and disclosures by artificial intelligence chatbots.

In a post on X, Miller accused the carrier of repeated operational failures, writing that “three members of Congress will miss votes tonight because of your incompetent airline.”

The Ohio Republican said the aircraft remained on the tarmac for more than two hours before returning to the gate, where passengers deplaned and returned to the terminal.

JETBLUE CUTS BACK AT NEWARK, LAGUARDIA AIRPORTS AS AIRLINE SHIFTS FOCUS TO FLORIDA

“We have been on the tarmac for over two hours and are now going back to the gate. Pathetic,” Miller wrote.

Miller added that he has resorted to driving from his Ohio district to Washington for the past seven months because of recurring air travel problems.

Rep. Max Miller, R-Ohio, attends the Ways and Means Committee hearing on the priorities of the Treasury Department in Longworth building on Thursday, June 4, 2026. Treasury Secretary Scott Bessent testified.  (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

American Airlines responded publicly to Miller on X, apologizing for the disruption.

“We know how important it is to get where you’re going on time, and we’re truly sorry for the delay,” the airline wrote. “Our ground team is working hard to get you moving soon.”

The U.S. Department of Transportation approved American Airlines’ request to operate flights to Caracas and Maracaibo, Venezuela, following the lifting of a yearslong restriction on U.S. carriers. (DANIEL SLIM/AFP via Getty Images / Getty Images)

According to FlightAware, American Airlines canceled nine flights Monday and delayed 706 flights — about 19% of its scheduled operations. Airlines worldwide logged nearly 25,000 delays throughout the day.

The incident came as airlines prepared for one of the busiest travel periods of the year. The Transportation Security Administration expects to screen nearly 18.7 million passengers between June 30 and July 6, with more than 3 million travelers projected to pass through airport security checkpoints on Thursday alone.

American Airlines is set to resume nonstop service between Miami and Venezuela after the U.S. Department of Transportation approved the carrier’s request on March 4, 2026, marking the first time a U.S. airline has restored flights to the country sinc (Kevin Carter/Getty Images / Getty Images)

TSA said it has fully staffed security checkpoints for the Independence Day travel period and deployed additional personnel and resources to support heightened travel demand tied to both the nation’s 250th anniversary celebrations and the 2026 FIFA World Cup, which is being hosted across the United States, Canada and Mexico.

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FOX Business has reached out to American Airlines for comment. 

Gleeson plans to build 200 new homes at the former steelworks site near Wrexham

A preferred housebuilder for the next phase of development at the former British Steelworks site at Brymbo near Wrexham has been confirmed.

Brymbo Developments Ltd (BDL) – a subsidiary of private development company Parkhill Group – has selected MJ Gleeson for a major residential scheme at one of North Wales’s largest regeneration sites, Brymbo Park.

Gleeson is set to acquire a 6.487 hectares (16.03 acres) plot with outline planning permission for 200 new homes. The value of the land deal has not been disclosed.

The residential development site forms part of the wider regeneration of the 560-acre former steelworks, which closed in 1990.

BDL recently secured an agreement for a 5,000 sq ft Sainsbury’s convenience store, with a further 4,500 sq ft of retail space currently being marketed. As part of its commitment to delivering essential new community facilities, the developer has also recently completed the transfer of land to Wrexham Council to accommodate a new local primary school, with work scheduled to commence in early 2027.

James Cannon, head of property at Parkhill Group, said: “Gleeson is a well-respected developer and a good fit for this site. We are confident that they will deliver fit-for-purpose new homes for the local community, which will provide a further catalyst for this major regional regeneration project. We look forward to working alongside them to deliver the next phase of this transformative project.”

Gareth Owen, land director at Gleeson, added: “We are delighted to be selected as the preferred bidder for the next phase at Brymbo Park, a site of significant scale and importance to the region. This acquisition presents an exciting opportunity for Gleeson to deliver high-quality homes that meet local demand, while contributing to the wider regeneration of this historic site.”

The wider masterplan also includes a visitor attraction celebrating the site’s heritage, which recently secured a £10m funding deal from the National Lottery, Wrexham Borough Council, CADW and National Resources Wales. It is scheduled to open this summer.

The remaining retail space at Brymbo Park is being marketed by BA Commercial. Moreover, the site’s 6.46 acre plot C for up to 84 new homes will be marketed shortly.

This article was written by

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SAN FRANCISCO — The Golden State Warriors are preparing to pursue one of the boldest, riskiest roster overhauls in recent NBA memory, planning a simultaneous push for free agent LeBron James and a trade for Wizards center Anthony Davis as the franchise looks to transform a play-in tournament team into a legitimate title contender around an aging Stephen Curry.

ESPN’s Shams Charania reported that the Warriors are “planning a pursuit of LeBron James in free agency and Anthony Davis via trade this week,” signaling that Golden State intends to move aggressively on both fronts as NBA free agency officially opens. The strategy reflects an organization fully aware of the shrinking championship window surrounding Curry, who turns 38 this season and remains the centerpiece of any title hopes for a franchise that won 37 games and finished as a play-in participant last season.

The boldness of the plan is matched only by its inherent risk. James, 41, has missed more than 20 games in four of his last six seasons, while Davis, 33, has totaled just 71 appearances combined over the past two seasons. Pairing two stars with that combined injury history alongside an already injury-prone roster, one that includes Al Horford, Kristaps Porziņģis and Draymond Green, represents what amounts to a significant gamble on health and availability as much as on talent.

Despite those concerns, the potential upside has kept the idea squarely on the table for Golden State’s front office. The Curry-James-Davis trio has already shown it can function at an elite level together, having helped Team USA capture gold at the 2024 Paris Olympics under the direction of current Warriors head coach Steve Kerr. That shared chemistry and Kerr’s familiarity with deploying all three players alongside one another has reportedly factored into the Warriors’ confidence that the pairing could translate successfully to an 82-game NBA season and a deep playoff run, even accounting for the players’ respective ages and recent injury histories.

According to NBA insiders Marc Stein and Jake Fischer, the Warriors are considered “far and away the most interested external suitor” for James as he weighs his free agency options this summer. Still, there is no guarantee James will be willing to leave his Los Angeles home base to relocate for a fresh start in the Bay Area, particularly given the financial constraints Golden State would likely face in putting together a competitive offer. Absent significant additional maneuvering, the Warriors may have only the non-taxpayer midlevel exception, worth roughly $15.1 million, available to offer James as a free agent.

Even securing that level of cap flexibility would require considerable financial gymnastics on Golden State’s part. Draymond Green’s decision to decline his $27.7 million player option Monday was widely viewed as a necessary first step toward clearing the path for such a pursuit, but the Warriors would likely also need Green to accept a meaningful pay cut on any new contract, and the team may need to shed the salary of injured swingman Moses Moody to fully open up the financial space required to make a James pursuit and a Davis trade both feasible simultaneously.

The Davis side of the equation presents its own complications. Any trade for the Wizards center would likely require Golden State to include Jimmy Butler, meaning the Warriors would have to reverse course on previously stated plans to keep Butler on the roster throughout his recovery from a torn ACL. On Washington’s end, the Wizards would similarly need to abandon their own publicly stated intention to keep Davis as a core piece of their rebuilding effort, a stance general manager Will Dawkins reiterated just weeks ago when he said the team and Davis both want him to remain in the nation’s capital. Bridging that gap between Washington’s stated plans and Golden State’s ambitions remains one of the most significant obstacles standing between the Warriors and completing the proposed blockbuster.

Analysts following the situation have been blunt about just how complicated pulling off both moves simultaneously would be, describing the broader plan as far from simple and acknowledging that success would require a substantial amount of fortune breaking in the Warriors’ favor across multiple fronts at once, from James’ personal willingness to relocate, to Washington’s openness to moving Davis, to the financial restructuring needed to make the math work under the league’s salary cap and luxury tax rules.

Still, the calculus facing Golden State’s front office is straightforward in its own way: there has never been an easy or conventional path to transforming a 37-win, play-in-caliber roster into a genuine championship contender. With Curry’s prime years narrowing and no clear alternative path to title contention readily available through the draft or more conventional free agency moves, pursuing a high-variance, high-reward strategy built around two future Hall of Famers represents, in the view of those tracking the situation, a realistic if far from guaranteed route back to relevance for a franchise that has won four championships over the past decade but has watched its competitive window narrow considerably in recent seasons.

Whether the Warriors can actually thread the needle, convincing James to leave Los Angeles, persuading Washington to part with Davis, and restructuring their own roster finances enough to fit both moves under the salary cap, remains very much an open question as free agency unfolds this week. But for an organization unwilling to simply accept a gradual decline around its aging core, league sources indicate Golden State views this aggressive dual pursuit as the clearest remaining avenue to give Curry one final, legitimate opportunity to add to his championship resume before his career window closes entirely.