Business News Round Up (24/02/2026)
Trump’s new 15% tariff plan ‘will hit UK exporters and dent global growth’
President Donald Trump’s decision to raise US tariffs to 15 per cent has drawn sharp warnings from British business leaders, who say the move risks harming thousands of UK exporters and slowing global economic growth. In a social media post on Saturday, Trump said he was “effective immediately” raising the existing 10 per cent worldwide tariff on countries to the “fully allowed” 15 per cent level. The announcement followed a ruling by the US Supreme Court that the president had exceeded his authority by using emergency powers to impose tariffs on dozens of trading partners, including the UK. The revised measure, introduced under alternative legislation, would increase tariffs on many British goods by a further 5 percentage points unless covered by existing exemptions. The British Chambers of Commerce (BCC) said the change would affect around 40,000 UK firms exporting to the US.
https://bmmagazine.co.uk/news/trump-15-percent-tariff-uk-exporters-global-growth-warning
Number of workers on zero-hours contracts hits record high ahead of crackdown
The number of workers on zero-hours contracts has hit a record high, ahead of Labour’s planned crackdown on the practice from next year. A surge in 16-to-24-year-olds and workers not in full-time education helped drive the number of people employed on the contracts to 1.23 million in December. Analysis by the Work Foundation at Lancaster University, based on Office for National Statistics (ONS) data, revealed that was a 91,000 increase on a year earlier. The Department for Business and Trade (DBT) said it “will ensure people can have the security they need by giving eligible workers the right to guaranteed hours”. Zero-hours contracts let employers hire staff with no guarantee of work, with employees only offered the hours for which they are needed – often at short notice.
https://www.bbc.co.uk/news/articles/czj1m7d4gxpo
Savills: record year for Glasgow F&B operators with 38 new openings in 2025
According to Savills, 2025 was another record year for the food & beverage sector (F&B) in Glasgow, with 38 new openings in the city centre totalling 87,000 sq ft of restaurant accommodation. The firm notes that this is the highest volume since 2018, and 10% more than 2024’s figure. The biggest change last year was a sharp increase in the number of transactions to national or international F&B brands. Savills figures show that 25% of these were for larger operators compared with 10% in 2024 where the market was dominated by independent brand openings. For instance, both Sticks’n’Sushi located on George Square, and iconic Indian restaurant chain Dishoom situated on Nelson Mandela Place, opened their doors in Glasgow last year. Glasgow continues to be attractive to F&B operators with the fourth largest catchment population of any UK city outside of London and the largest in Scotland, according to Geolytix.
Drop in skilled tech workers applying for UK visas
Talent shortages in UK tech are coming under further pressure as the number of skilled tech workers choosing to work in the UK declines, putting growth and innovation at risk, warns RSM UK. RSM’s freedom of information request to UK Visas and Immigration shows the number of international workers applying for a visa to work in UK tech dropped 11% from 8,739 in Q2 2025 to 7,768 in Q3 2025 and was down 6% year-on-year from 8,233 in Q3 2024. At the same time, the technology industry is facing various other workforce pressures. RSM’s Technology Outlook found nearly a fifth (22%) of tech leaders said maintaining employee engagement was their biggest workforce challenge, followed by the cost of UK-based talent (19%) and upskilling non-technical staff (17%).
https://www.digit.fyi/drop-in-skilled-tech-workers-applying-for-uk-visas