Businesses are facing rising wage costs in 2025. As a result, many businesses are looking at whether price increases could help them manage the financial impact without losing customers. High Street retailer Next recently announced a price increase of 1% on some clothing items to help offset an anticipated £73 million rise in staff wages and taxes. Their strategy and decisions provide some useful lessons.

Last week, the Competition and Markets Authority (CMA) set out its initial plans for the new digital markets competition regime. The regime is designed to support the UK’s tech sector and has its legal footing in the Digital Markets, Competition and Consumers Act. The Act received royal assent in May 2024 but came into force on 1 January 2025.

Artificial intelligence (AI) continues to bring benefits across many industries, including healthcare diagnostics and consumer technology. However, as its applications expand, so do concerns about its accuracy and potential for misuse. Two recent examples—the use of AI in detecting ovarian cancer and its controversial implementation in summarising news—illustrate both the transformative potential and the risks of AI.

Business Secretary Jonathan Reynolds co-chaired the first meeting of a new Steel Council last week. The Steel Council’s purpose is to help secure the long-term future of steelmaking in the UK. The new Council will feature regular meetings with trade union leaders, industry experts, devolved government representatives, trade associations and steel sector leaders such as CEOs from Tata Steel and British Steel.

The Valuation Office Agency (VOA) have announced the suspension of two business rates agents. These are Rateable Value Experts and Re-Rates UK. The VOA have not specified the exact reasons for the suspension and have simply said that they are investigating a potentially serious breach of their agent standards.

The UK government has announced contracts worth over £289 million to provide gigabit-capable broadband to 131,000 homes and businesses in some of the country’s most remote locations. The initiative is part of the government’s Project Gigabit program, which aims to modernise broadband infrastructure across the country.