Business News Round Up (26/06/2025)
Venture capital and private equity drive record investment in UK maturing circular economy
Investors led by venture capital and private equity firms have injected a record amount of capital into the UK’s growing circular economy sector, new research from accountancy and business advisory firm BDO has revealed. British circular economy businesses attracted £2.2 billion in disclosed funding last year, a 64% increase on 2023’s figure, with 2024’s total boosted by larger deals. Although the number of transactions was broadly flat year-on-year, with 184 in 2023 and 183 last year, the higher overall deal value is “evidence of a maturing market”, according to BDO’s experts, with larger injections of capital on a per-deal basis. Using the average disclosed investment as a guide, BDO estimates that the total amount invested in UK circular economy businesses last year could be £3.2bn, up from £2bn in 2023.
Glasgow City Council warns of possible data theft following ‘cyber incident’
Glasgow City Council is responding to a cyber-incident that has caused widespread disruption across a number of its online services and may have involved the theft of customer data. The incident was first identified early on Thursday 19 June 2025, when the council’s ICT supplier, CGI, detected malicious activity on servers managed by a third-party provider. As a precaution, the council has taken several of these servers offline, resulting in outages affecting core digital functions used by residents and staff. In a statement, the council confirmed that it is working closely with Police Scotland, the Scottish Cyber Coordination Centre (SC3), and the National Cyber Security Centre (NCSC) to investigate the breach. Although the full extent of the incident is still being determined, initial assessments suggest that some personal data may have been compromised.
https://www.digit.fyi/glasgow-city-council-cyber-incident
North West businesses say greater AI adoption will drive local growth
The majority of North West firms believe AI adoption will be a key growth driver in their local economy, according to Lloyds’ Business Barometer, as many report AI-related increases in productivity and profitability. Nearly 64% of North West businesses believe greater AI adoption will be a major driver of local economic growth. Of the 62% of the region’s firms that are already using AI, 79% say it has increased their productivity, while 89% say it has increased their profitability – the highest proportion of any UK nation or region. Firms are most commonly using AI platforms to improve their efficiency (69%) or to analyse data and make better-informed decisions (42%). Looking ahead, 55% of North West firms plan to invest more in AI in the next year, with 27% of non-adopters planning to use it for the first time. Meanwhile, 14% of businesses plan to create new AI-specific roles.
Two thirds of businesses oppose Stirling’s visitor levy
Two thirds of local businesses are against Stirling’s plan to introduce a visitor levy, according to the results of a city council consultation. Stirling Council is due to debate proposals on Thursday, which would see overnight visitors to the city pay a 5% surcharge on their accommodation bill. The Federation of Small Businesses (FSB) has called on the local authority to pause its plans, amid concerns they may damage the area’s vital visitor economy. Hisashi Kuboyama, FSB Scotland development manager, said: “Local businesses have made it clear that they don’t want a visitor levy in Stirling, with 64% of 115 businesses or tourism organisations, which responded to the council consultation, saying they are against it. With the declining demand from the UK domestic tourism market and the global geopolitical uncertainty, businesses in Stirling are concerned that increasing costs for visitors could deter tourists and harm the local economy.”
https://www.insider.co.uk/news/two-thirds-businesses-oppose-stirlings-35449870