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Air New Zealand CFO Richard Thomson Resigns Effective August 2026, Airline Launches Search for Replacement

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Air New Zealand said it had experienced "the most challenging year in the airline's 80-year history"

AUCKLAND, New Zealand — Air New Zealand announced Wednesday that Chief Financial Officer Richard Thomson has resigned and will depart the national carrier on Aug. 28, prompting the airline to immediately begin searching for his successor amid ongoing operational and financial challenges.

Air New Zealand said it had experienced "the most challenging year in the airline's 80-year history"
Air New Zealand CFO Richard Thomson Resigns Effective August 2026, Airline Launches Search for Replacement
AFP / Marty MELVILLE

Thomson, who rejoined Air New Zealand in March 2021 as CFO, previously held senior commercial and finance roles within the company. During his more than five years in the top finance position, he played a key role in the airline’s post-COVID recapitalization, fleet modernization efforts and navigation of volatile fuel prices and global disruptions, according to company statements.

The resignation comes at a turbulent time for Air New Zealand, New Zealand’s flag carrier, which has faced mounting pressures including rising jet fuel costs exacerbated by Middle East tensions, a reported multi-million-dollar first-half loss and the need for recent fare hikes and flight consolidations in May and June. Shares of the airline fell more than 2 percent in early trading following the announcement.

In a statement to the New Zealand Exchange, Air New Zealand said it has commenced a formal search for a new chief financial officer and will provide further updates once the process is complete. The airline emphasized that Thomson’s departure is not linked to any performance issues and expressed gratitude for his contributions.

“Richard has made a significant contribution during a challenging period for the aviation industry,” the company noted. “We thank him for his leadership in finance, investor relations and corporate strategy and wish him well in his future endeavors.”

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Thomson’s exit marks the latest change in Air New Zealand’s executive ranks. The airline has undergone several leadership adjustments in recent months, including shifts in operations roles earlier in 2026. Chief Executive Officer Nikhil Ravishankar, who took the helm in late 2025, now faces the task of stabilizing the finance function while steering the carrier through economic headwinds.

Aviation analysts described the timing as noteworthy but not entirely surprising given the demanding nature of the CFO role in a capital-intensive industry like airlines. Thomson oversaw critical financial maneuvers during the pandemic recovery, including equity raises and debt management that helped keep the airline afloat when international borders were closed and domestic travel was severely restricted.

Since resuming full operations, Air New Zealand has battled persistent cost pressures. Jet fuel remains a major expense, and disruptions from geopolitical events — particularly strains around the Strait of Hormuz — have driven up prices and forced route adjustments. The carrier recently warned of higher fares and reduced capacity on certain domestic and trans-Tasman routes to offset these costs.

Industry observers point out that airlines globally are grappling with similar issues. Fuel hedging strategies, fleet efficiency and revenue management have become even more critical as passenger demand rebounds unevenly and competition intensifies from low-cost carriers and international rivals.

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Air New Zealand’s financial performance has shown signs of strain. The company reported a first-half loss in recent updates, citing elevated fuel prices and softer demand in some segments. Despite this, the airline has maintained its commitment to sustainability goals, including investment in more fuel-efficient aircraft and exploration of sustainable aviation fuels.

Thomson’s background includes a Bachelor of Commerce and Bachelor of Law from the University of Canterbury. His deep institutional knowledge of Air New Zealand, spanning multiple stints, made him a steady hand during crises. His departure will leave a gap in corporate memory at a time when the board and CEO are focused on long-term strategic planning.

The search for a new CFO is expected to attract strong interest from both domestic and international candidates with experience in aviation, transportation or capital-intensive sectors. Key qualifications will likely include expertise in financial planning, risk management, investor communications and navigating regulatory environments in New Zealand and key markets like Australia, the Pacific Islands and Asia.

Air New Zealand operates a fleet serving domestic routes, trans-Tasman flights to Australia, and long-haul services to Asia, the United States and Pacific destinations. The CFO plays a pivotal role in capital allocation decisions, including aircraft purchases or leases, which can run into hundreds of millions of dollars.

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Market reaction was muted but negative initially, with shares trading down around 2.2 percent on the NZX. Broader New Zealand shares remained relatively flat, reflecting limited immediate contagion from the news. Analysts suggested investors are more focused on quarterly operational updates and the broader economic outlook for tourism-dependent New Zealand.

The resignation highlights the high turnover sometimes seen in senior airline executive roles due to the cyclical and volatile nature of the business. Previous CFO changes at Air New Zealand and peer carriers have often coincided with strategic shifts or recovery phases.

As the airline moves forward, leadership stability will be crucial. Ravishankar has emphasized building resilience through cost control, network optimization and customer experience improvements. The incoming CFO will need to align closely with these priorities while managing shareholder expectations and potential future capital needs.

Air New Zealand has positioned itself as a leader in sustainable aviation in the region, with ambitions to reduce emissions and support New Zealand’s climate goals. Financial oversight of these initiatives, including potential investments in new technology, will fall to the next finance chief.

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Thomson is expected to remain in the role until late August, providing continuity during the transition. The company said it will ensure a smooth handover and that day-to-day operations remain unaffected.

The announcement arrives as the global aviation industry continues its post-pandemic normalization. Passenger numbers have recovered strongly in many markets, but profitability remains elusive for many carriers due to supply chain issues, labor shortages and geopolitical risks.

For Air New Zealand specifically, domestic and short-haul routes have shown resilience, while long-haul international services face stiffer competition and higher fuel exposure. Tourism from key source markets like Australia, China and the United States remains vital to the carrier’s revenue.

Industry experts expect the CFO search to conclude within several months. In the interim, the existing finance team will continue executing current strategies under CEO direction.

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The development underscores the challenges facing national carriers in smaller markets. Air New Zealand plays a critical role in connecting New Zealand to the world, supporting trade, tourism and family ties across the Pacific. Maintaining financial health is essential not only for shareholders but for the broader economy.

As the search begins, speculation may arise about whether the new CFO will come from within the aviation sector or bring fresh perspectives from other industries. Past appointments at similar airlines have mixed internal promotions with external hires to balance continuity and innovation.

Air New Zealand’s board has not commented further on the reasons behind Thomson’s decision, describing it as a personal career move. Such transitions are common in corporate life and do not necessarily signal deeper issues.

Looking ahead, the airline’s next earnings report and any strategic updates will be closely watched. Investors will seek reassurance that the leadership change will not disrupt ongoing efforts to improve profitability and competitiveness.

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For now, Air New Zealand continues its daily operations with more than 100 aircraft serving dozens of destinations. The focus remains on delivering reliable service while addressing cost pressures and positioning for sustainable growth.

Thomson’s tenure spanned a period of profound change for the airline, from pandemic-induced grounding of fleets to gradual rebuilding of international networks. His contributions to financial stability during that era were significant, even as external factors continued to test the business model.

The story of Air New Zealand’s CFO transition adds to a broader narrative of executive movements in the aviation sector as companies adapt to a new normal. Whether this change signals a strategic pivot or simply a natural evolution remains to be seen as the search for a successor unfolds.

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Aussie shares fall as war dims hopes for US rate cuts

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Aussie shares fall as war dims hopes for US rate cuts

The local share market has suffered its worst loss in more than a month on fears the Middle East conflict could delay US interest rate cuts.

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Rolls-Royce Voted UK’s Most Iconic Trade Mark as IPO Register Hits 150

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Rolls-Royce Voted UK's Most Iconic Trade Mark as IPO Register Hits 150

Rolls-Royce has been crowned the nation’s most iconic trade mark in a public poll marking 150 years since Britain became one of the first countries in the world to formalise the protection of brands, the Intellectual Property Office (IPO) has announced.

The Goodwood-built marque pipped Radio Caroline, Twinings and Cadbury to the top spot in a survey that drew around 2,000 nominations, with the public asked to choose the brands they felt had most shaped daily life in the UK. Rounding out the top ten were Bass, Burberry, the Transport for London roundel, Calpol, Mini and the BBC, a roll-call that reads less like a marketing list and more like a cultural autobiography of post-war Britain.

The poll coincides with the 150th anniversary of the UK trade mark register, which opened for business on 1 January 1876 following the passage of the Trade Marks Registration Act 1875. The very first mark to be registered, on day one, was the Bass & Co red triangle label, a piece of intellectual property still in use today and still, as one respondent succinctly observed, attached to “good beer”.

For the SME community, the milestone is more than ceremonial. The register now protects more than 2.5 million marks, with around 200,000 fresh applications received in the past year alone, a record-breaking figure that points to the value modern entrepreneurs place on owning their identity in an increasingly crowded marketplace.

More than 400 trade marks filed before 1900 remain live on the register, a remarkable testament to brand longevity. Bovril (1886), Drambuie (1893), Lyle’s Sugar (1887), Bird’s Custard Powder (1891), Rose’s Lime Juice Cordial (1876) and Woodward’s Gripe Water (1876) are all still trading on the goodwill first banked by their Victorian founders. Even Lyle’s Golden Syrup carries with it the gloriously biblical “Out of the Strong Came Forth Sweetness”, registered in 1884 and quietly enduring on supermarket shelves ever since.

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Other Victorian filings border on the prophetic. Kodak was registered in 1888, just as mass photography was emerging, while a mark named “Millennium” was filed in January 1892, more than a century before the date it would come to evoke.

Adam Williams, chief executive of the IPO, said the anniversary underscored the role of trade marks as the bedrock of consumer confidence. “Trade marks are the foundation of brand trust. For 150 years, they’ve helped British businesses, from corner shops and market stalls to app stores and global online retailers, build lasting relationships with consumers and stand behind the quality of their products,” he said. “The tens of thousands who register a trade mark each year are making a statement: we’ve built something good, and we’re putting our name to it.”

Tom Reynolds, chief executive of the British Brands Group, described trade marks as “a legal promise” between business and customer. “Some trade marks have become so embedded in our lives that they’ve become shorthand for the thing itself. Think of a tick, a swoosh, or even a silver lady on a car bonnet. Instantly, you know exactly what you’re getting. That’s the power of a trade mark, and it’s the foundation every iconic brand is built on.”

Kelly Saliger, president of the Chartered Institute of Trade Mark Attorneys (CITMA), said the application surge confirmed the UK’s continuing pull as a centre of enterprise. “Brand recognition is a powerful asset, and a registered trade mark protects it, acting as a marker in the sand that warns other businesses to steer clear, and giving the owner the means to take action against those who come too close.”

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Rolls-Royce, whose Silver Ghost was officially dubbed “the best car in the world” in 1913, has long since transcended the motor industry. Julian Jenkins, director of sales and brand at Rolls-Royce Motor Cars, said the result reflected the way the marque had become “a global shorthand for the best of the best in any field”. Matthew Hill, head of intellectual property at Rolls-Royce plc, added that the recognition acknowledged the company’s “continuing commitment to powering, protecting and connecting people everywhere”.

Radio Caroline, the offshore station that sailed into broadcasting history from the North Sea in 1964 and was finally registered as a trade mark in 1992, was second on the list. Station manager Peter Moore said the recognition was “a testament to our past, present and future”, while listeners reminisced about passing O-Levels to its broadcasts.

Twinings, which has traded from the same Strand address since 1706 and registered its mark in 1908, was third. Chief brand officer Heather Hartridge said the logo was “more than just a logo, it is a symbol of the craftsmanship, expertise and care that goes into every blend”.

Cadbury, first traded in 1824 and registered in 1886, was fourth. Equity marketing director Phil Warfield said the brand’s “iconic glass and a half” remained “a promise to our customers for generations”. Ewa Chappell, legal and corporate affairs director at Budweiser Brewing Group UK/Ireland, current custodians of Bass, noted that the original red triangle had been “copied so often that it proved just how powerful the demand for Bass truly was”.

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Burberry’s check, born in the trenches of the First World War, made the list alongside the Transport for London roundel, first protected in 1917. TfL customer director Emma Strain said the symbol had “guided Londoners and visitors safely through the capital as a trusted and globally renowned emblem” for more than a century.

Calpol, the small bottle that has soothed generations of feverish children, sat eighth, with one parent describing it simply as “the first thing you reach for at 3am”. Mini, the diminutive motor that defined British car-making from 1959 onwards, was ninth. Head of MINI Jean-Philippe Parain said the brand “continues to stand for timeless design, go-kart handling, and distinctive personality”. The BBC completed the top ten.

When the 1875 Act took effect, applications arrived by post, were entered by hand, and could only protect marks used on physical goods. Today’s register tells a rather different story. Services as well as goods are covered, and registrable marks now include holograms, motion marks, multimedia marks and patterns of light. Applications cover categories that would have bewildered a Victorian clerk, from snack products derived from insects and edible ant larvae to wearable smartphones, humanoid robots, downloadable virtual handbags, and perfumes for use in virtual worlds.

For SMEs, the practical message is that trade mark protection has never been more accessible, or more strategically important. Registration costs a fraction of the goodwill it preserves, lasts for ten years and can be renewed indefinitely, providing the legal armoury to defend brand value as businesses scale.

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After 150 years, Britain’s trade mark system has, in the IPO’s own words, “no sign of standing still”. For the small businesses building tomorrow’s iconic brands, that should be a reassuring thought.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Nine secures free-to-air NBL deal

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Nine secures free-to-air NBL deal

Nine Entertainment has signed a two-year broadcast rights agreement with the National Basketball League for an undisclosed amount.

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Meta Installs Software to Track US Employees’ Mouse Movements and Keystrokes for AI Training

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NEW YORK — Meta Platforms Inc. is rolling out new tracking software on the computers of its U.S.-based employees to capture mouse movements, clicks and keystrokes, using the data to train artificial intelligence models aimed at building autonomous AI agents capable of performing everyday work tasks, according to internal memos obtained by Reuters.

Headquarters of Facebook parent company Meta Platforms Inc in Mountain View
Headquarters of Facebook parent company Meta Platforms Inc in Mountain View

The tool, known as the Model Capability Initiative or MCI, will operate on a curated list of work-related applications and websites. It will also take occasional snapshots of screen content to provide context for the interactions, a staff AI research scientist posted Tuesday in an internal channel for the company’s Meta SuperIntelligence Labs team.

Meta’s push reflects the intensifying race among tech giants to develop more capable AI agents that can navigate computer interfaces like humans — selecting dropdown menus, using keyboard shortcuts and handling multi-step digital workflows. Current models often struggle with these practical interactions despite advances in language understanding.

“If we’re building agents to help people complete everyday tasks using computers, our models need real examples of how people actually use them — things like mouse movements, clicking buttons, and navigating dropdown menus,” Meta spokesperson Andy Stone said in a statement. “To help, we’re launching an internal tool that will capture these kinds of inputs on certain applications to help us train our models.”

The initiative forms part of a broader effort rebranded as the Agent Transformation Accelerator, according to a separate memo from Meta CTO Andrew Bosworth. Bosworth told staff the company aims for a future where AI agents primarily handle routine work while humans direct, review and refine their performance. The data collected will help agents learn to identify when human intervention occurs and improve autonomously in subsequent attempts.

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Meta emphasized that the tracking data will not be used for employee performance evaluations or any purpose beyond AI model training. The company said safeguards are in place to protect sensitive content, though specifics were not detailed in the memos.

The announcement quickly sparked internal debate and external backlash. Employees expressed concerns about privacy, surveillance and the long-term implications for job security in discussions on internal forums. Some viewed the program as turning workers into unwitting trainers for systems that could eventually automate their roles. Online reactions ranged from accusations of dystopian workplace monitoring to pragmatic acceptance that high-quality interaction data remains scarce for training reliable agents.

Privacy advocates and labor groups raised questions about consent, data minimization and potential misuse. While Meta limits the tool to U.S.-based full-time employees and contingent workers on work devices and approved applications, critics worry about the precedent for broader workplace surveillance in the AI era. Similar tracking tools have drawn scrutiny at other companies, though Meta’s explicit link to training replacement-level agents has amplified the reaction.

The move comes as Meta ramps up its massive AI investments. The company plans to spend roughly $140 billion on AI infrastructure and related efforts in 2026, nearly double the previous year’s outlay. CEO Mark Zuckerberg has repeatedly positioned AI as central to the company’s future, from improving content recommendations on Facebook and Instagram to developing advanced agents that could transform productivity tools.

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Building effective computer-using agents requires vast amounts of real-world demonstration data showing not just what actions to take but the precise sequences of mouse clicks, keystrokes and navigation decisions humans make. Public web data or synthetic examples often fall short in replicating the nuances of enterprise software, internal tools and dynamic interfaces. By harvesting anonymized interaction data from its own workforce, Meta aims to close that gap without relying solely on expensive human annotation or simulated environments.

Industry experts note that Meta is not alone in pursuing this approach. Several tech firms and AI startups are exploring ways to capture human-computer interaction data, either through voluntary contributions, synthetic generation or controlled monitoring. However, Meta’s scale — with tens of thousands of U.S. employees using diverse internal systems — offers a rich, varied dataset that could accelerate progress.

The timing coincides with Meta’s aggressive hiring in AI research while simultaneously managing efficiency initiatives across other parts of the business. Reports have circulated about potential layoffs in non-AI divisions, adding to employee anxiety that the tracking program could contribute to workforce reductions as agents mature.

Meta has a history of heavy internal data collection for product improvement, from user behavior on its social platforms to developer interactions with its tools. The company maintains strict policies on data handling and has faced past regulatory scrutiny over privacy practices, leading to billions in fines and settlements. Officials insist the new tool includes protections against capturing or retaining personal or highly sensitive information.

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Still, the rollout highlights tensions in the AI development race. On one side, the need for high-fidelity training data to create genuinely useful agents; on the other, growing societal and employee discomfort with pervasive monitoring. European privacy regulations such as GDPR impose stricter limits on workplace surveillance, potentially complicating similar initiatives for Meta’s international staff.

As AI agents evolve, their ability to autonomously handle tasks like scheduling, data entry, report generation or customer support workflows could reshape white-collar work. Meta’s internal memos frame the effort positively as empowering employees to focus on higher-value work by offloading routine activities. Critics counter that it risks accelerating job displacement without adequate transition support.

The program’s effectiveness will depend on the quality and diversity of the captured data. Mouse trajectories, click patterns and keystroke dynamics provide rich signals about intent, hesitation and workflow efficiency that text-based logs alone cannot convey. Occasional screen snapshots add crucial context, such as the layout of specific applications or the content being manipulated.

Meta has not disclosed technical details about data storage, anonymization techniques or deletion policies. Employees were informed of the rollout but it remains unclear whether participation is mandatory or if opt-out options exist for certain roles.

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The development underscores how Big Tech companies are increasingly turning inward for AI training resources as external data sources face legal challenges, quality issues or saturation. Similar efforts have included using customer service transcripts, code repositories and internal documents, but granular interaction data represents a newer frontier.

For now, the Model Capability Initiative is limited to U.S. employees and specific applications. Its success could influence whether Meta expands the approach or inspires competitors to follow suit. As the technology industry grapples with the dual challenges of advancing AI capabilities and addressing ethical concerns around labor and privacy, Meta’s experiment will be closely watched.

Company leaders have signaled confidence that transparent communication and strict boundaries will alleviate concerns. Whether the initiative ultimately boosts AI performance enough to justify the surveillance tradeoff remains an open question that will likely be tested in the coming months as agents trained on the new data enter internal testing.

In the broader context of 2026’s AI boom, Meta’s decision reflects a pragmatic — if controversial — step toward solving one of the field’s persistent bottlenecks: teaching machines not just what to do, but exactly how humans do it in the messy reality of daily digital work.

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UK Inflation Rises to 3.3% in March 2026 as Middle East War Hits Fuel and Energy Costs

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UK Inflation Rises to 3.3% in March 2026 as Middle East War Hits Fuel and Energy Costs

British small and medium-sized enterprises are facing a fresh squeeze on margins after official figures revealed inflation jumped to 3.3 per cent in March, the first hard evidence of how the Middle East conflict is feeding through to the real economy.

Data released by the Office for National Statistics on Wednesday showed the Consumer Prices Index accelerated from 3 per cent in February, in line with City forecasts and marking the first uptick in the headline rate since December. It is also the first inflation reading to capture the surge in global oil and gas prices since hostilities erupted two months ago, with Brent crude up roughly 30 per cent and trading around the $100-a-barrel mark for several weeks.

The pain at the pump was unmistakable. Petrol rose by 8.6 pence per litre to an average of 140.2p, its highest since August 2024, while diesel, the lifeblood of the haulage and trades sector, leapt by 17.6p to 158.7p, a level not seen since November 2023. For the nation’s 5.5 million SMEs, many of whom rely on vans, lorries and company cars to service customers, it amounts to a significant and largely unhedgeable operating cost.

Air fares added further heat, climbing 10 per cent month-on-month against a 0.3 per cent fall over the same period a year earlier. That is the steepest February-to-March rise since 2016, although the ONS noted that prices were collected before the outbreak of war and were inflated by the timing of long-haul flights immediately after Easter.

Grant Fitzner, chief economist at the ONS, said: “Inflation climbed in March, largely due to increased fuel prices, which saw their largest increase for over three years. Airfares were another upward driver this month, alongside rising food prices. The only significant offset came from clothing costs, where prices rose by less than this time last year.”

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Economists at the International Monetary Fund and elsewhere have warned that the headline rate could climb through the summer and potentially peak above 5 per cent, more than double the Bank of England’s 2 per cent target. Core inflation, which strips out volatile food and energy components, edged down to 3.1 per cent from 3.2 per cent, but services inflation, the measure most closely watched by Threadneedle Street, ticked up to 4.5 per cent from 4.3 per cent. Food prices were 3.7 per cent higher year-on-year, a number that will ripple through hospitality margins.

The Bank of England’s monetary policy committee is expected to leave Bank Rate on hold at 3.75 per cent when it meets next Thursday, though rate-setters are facing an uncomfortable dilemma. Martin Beck, chief economist at WPI Strategy, said: “With inflation likely to remain above target for longer, the Bank of England is unlikely to cut rates any time soon. But equally, the case for further tightening remains weak. A prolonged period of policy on hold looks the most likely outcome, leaving the economy exposed to the trajectory of the conflict and its impact on energy markets.”

Peter Dixon, senior economist at the National Institute of Economic and Social Research, went further, arguing that the Bank “cannot risk appearing complacent, and we therefore expect one precautionary [quarter point] rate increase over the coming months”. A move of that kind would raise the cost of variable-rate borrowing for millions of homeowners and small business owners, and set back those attempting to step onto the property ladder.

There are, however, glimmers of resilience. GDP grew by a stronger-than-expected 0.5 per cent in February and unemployment fell unexpectedly to 4.9 per cent in the three months to February, down from 5.2 per cent, suggesting that, for now at least, the labour market is holding up despite the external shock.

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Rachel Reeves, the chancellor, struck a sympathetic note: “This is not our war, but it is pushing up bills for families and businesses. That’s why it’s my number one priority to keep costs down.” The Treasury has so far extended support to a limited number of rural households dependent on heating oil and has widened an existing scheme aimed at cutting energy bills for businesses, though SME lobby groups are already pressing for more targeted relief for firms whose fuel and logistics costs cannot easily be passed on to customers.

For British SMEs, the immediate message from March’s data is stark: energy-driven cost inflation is back, interest rate relief is further away than many had hoped, and the next phase of the Middle East conflict will do as much to shape the outlook for cash flow and investment as anything decided in Westminster.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Wiluna seeks New Dawn, pots latest Creasy bid

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Wiluna seeks New Dawn, pots latest Creasy bid

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Earnings call transcript: Nordea Bank Q1 2026 sees robust growth amid challenges

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Earnings call transcript: Nordea Bank Q1 2026 sees robust growth amid challenges

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Car finance compensation scheme faces challenge and delay

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European shares steady after Trump extends Iran ceasefire; corporate earnings on tap

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European shares steady after Trump extends Iran ceasefire; corporate earnings on tap


European shares steady after Trump extends Iran ceasefire; corporate earnings on tap

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