Pubs employ more young people than ever before, but new employment costs could mean tough decisions and threaten growth, but the Budget means many may have to make difficult decisions to save jobs, the British Beer and Pub Association warns. More than half (51%) of the overall pub sector’s workforce were aged 16 to 24, figures from 2024 Oxford Economics research reveal. That equates to pubs employing 1 in 10 of all under 25-year-olds in the UK job market. The data, commissioned by the BBPA, shows that pubs employ 350,000 under 25-year-olds, up from 281,770 in 2019 - a dramatic increase of nearly a quarter (24%). This equates to 1 in ten of all under 25s in work. Prior to the Budget, the National Insurance Contributions for 350,000 under 25-year-olds was equal to approximately £82 million. With the new NICs announced in the Budget, this will now cost a staggering £153 million to maintain the same amount of under 25-year-old workers. The East of England (66%) had the greatest proportion of 16 to 24-year-olds employed in the sector. The sector, which is millions of people’s first step on the career ladder, provides significant employment opportunities for young people and those seeking flexible work, the BBPA said. However, given the Budget’s rise in National Insurance Contributions and increased wage costs, pubs may have to make tough decisions so they can afford to keep staff. This could mean halting recruitment or pushing up prices. The BBPA is calling on Government to reconsider the timing of the new employment costs so businesses can better plan and carry on employing staff they need, rather than staff they can afford. Emma McClarkin, CEO of the British Beer and Pub Association, said: “We know Government acknowledged our industry, but they must be clear-eyed about the shattering effect new regulations will have on us." “Many will have worked behind a bar and know that it’s more than just a job. Our industry provides rewarding careers, helps younger people build skills, grow in confidence, and fund university education or driving lessons. Without this vital work many would struggle with rents, bills, and basic living." “If we’re to keep people in work and put money in their pockets, business needs to be viable. We urge the Government to reconsider the timings of the new employment costs and swiftly deliver meaningful business rate reforms. Only then can we continue to be the backbone of the UK job market and a cornerstone of the community.” The British Beer and Pub Association’s figures shows that the Budget’s cumulative impact means, at a conservative estimate, a £500m increase to the cost of doing business for the industry and risks jobs.

The nation’s cheapest supermarket Aldi, has fought off competition to be crowned ‘Retailer of the Year’ at the prestigious Spirits Business Awards at a packed ceremony at The Underglobe Theatre in Bankside, London. The result comes after the supermarket revolutionised the spirits aisle with its sustainable and innovative approach this year. From the world’s first paper bottle with its award-winning Greyson’s London Dry Gin to removing excess packaging and prioritising eco-friendly practices. Coupled with trend-driven product development, like the popular Ballycastle Cream Liqueurs, and expanding its low and no offering, it has continued to deliver exceptional quality at unbeatable prices. Aldi’s customer-centric approach, including initiatives like the Aldi Gin Club—where shoppers received free gin in exchange for reviews—has propelled the supermarket to the forefront of the spirits category, outpacing competitors. Judges were extremely impressed, commenting , “With its accessible approach and agility to adapt in a fast-moving market, Aldi develops new products at affordable price points to allow customers to experience something they may not have tried before. Combined with the supermarket’s sustainable efforts, such as a paper-based gin bottle, and impressive volume growth, Aldi is a deserving winner.” Julie Ashfield, Managing Director of Buying at Aldi UK, said: “Winning Spirits Multiple Retailer of the Year is a resounding victory, showcasing Aldi’s commitment to trend-led innovation, exceptional quality, and value that can’t be matched." “This prestigious award underpins our dedication to not only meeting customer demands but exceeding them with sustainable practices, including our supermarket-first paper gin bottle. It’s proof that our approach is the recipe for success!”

Led by celebrated head chef James Moyle, Herringbone Goldenacre has unveiled an exciting array of dishes inspired by his tenure at some of London’s top restaurants It comes as Herringbone begins actively recruiting for a range of talented chefs across its venues in Edinburgh and North Berwick. One of Edinburgh’s best loved restaurants has revealed an exciting new menu for the winter season curated by celebrated chef James Moyle, inspired by casual fine dining trends that have taken London’s eclectic food scene by storm. Herringbone Goldenacre, which is located on South Trinity Road near the city’s Botanic Gardens, has unveiled an exciting array of new dishes aimed at elevating the venue’s already outstanding reputation for excellent guest experiences. The new menu at the relaxed dining destination - which is operated by leading hospitality group Buzzworks – has been meticulously created by Moyle, drawing on his extensive experience from some of the country’s top restaurants. It comes as Herringbone launches a recruitment drive for chefs at all levels across its portfolio of existing venues in Goldenacre, Abbeyhill in Edinburgh and North Berwick ahead of the busy Christmas period and the eagerly anticipated new opening in Barnton early next year. Having operated in a variety of Michelin-starred and AA-Rosette awarded venues - including The River Restaurant by Gordon Ramsay at the Savoy in London – Moyle has curated a standout culinary offering for the season and is confident the new menu will bring a fresh approach to some of Herringbone’s most celebrated dishes. He said: “We’re bringing a fresh and innovative twist to Herringbone Goldenacre this winter season, having drawn inspiration from some of the most exciting food trends coming out of the UK capital." “Combining bold flavours with some of our favourite dishes in a relaxed setting is something we’ve tried to do since opening Herringbone so we’ve worked closely as a team to create dishes we believe reflect that.” “Using locally sourced, fresh ingredients has been at the heart of my cooking ethos since my career began at the Savoy in London nearly 25 years ago." “Working in a prestigious kitchen like that, under the guidance of some of the industry’s top chefs including Gordon Ramsay, really shaped how I approach food today. It was my first kitchen job straight out of school and helped instill some of the key philosophies that I still prioritise within our team at Herringbone to this day." “Not only did it help me appreciate the importance of seasonality, quality, and precision in the kitchen at a very early stage, it instilled in me a deep respect for the craft of cooking.” Among the highlights on the new menu is a selection of sharing plates, including a deliciously cured pork loin, served with a pickled red onion salad and rhubarb and ginger chutney. For those looking for something more filling, hearty dishes such as roast hake with Jerusalem artichoke, rosemary potatoes and a truffle and leek puree are designed to provide a warming meal as the cooler weather comes in. James continued: “We wanted to elevate our classic dishes to the next level to offer something special for our guests, and we truly believe this menu does that." “Our new offering at Herringbone Goldenacre is designed with that in mind. We’re delivering something that feels both refined and accessible, and I’m really proud of what the team has achieved here." “For those passionate about creativity, quality, and culinary innovation, Herringbone offers a dynamic, supportive environment where talent can thrive." “Joining us means being part of a team that values growth and teamwork, with excellent opportunities to develop skills and make a real impact on our dining experience.”

Edinburgh - Vulnerable women in Edinburgh are a step closer to breaking the cycle of homelessness, thanks to a £2,200 donation to Rowan Alba from the Allied Vehicles Charitable Trust. Rowan Alba works to end homelessness for people in Edinburgh, offering long-term accommodation with 24/7 on-site support. Its unique approach includes trauma-informed coaching, communal meals, and social activities to improve health and life skills. The charity supports 44 individuals annually across four accommodation services, including Homes for Life for men and Move On Accommodation for women. They also work to prevent homelessness through a befriending programme, supported by 70 volunteers, 40% of whom have lived experience. The funding from the Trust will contribute to furnishing new, permanent homes in a project aimed at providing flats for homeless women, aged 16 and older, who are facing complex mental health challenges, addiction, and trauma. These women often face barriers to accessing traditional housing or refuge services due to the complexity of their needs and experiences of violence. Without appropriate housing many remain in unsafe situations or abusive relationships to avoid homelessness, or cycle through temporary accommodation. The Rowan Alba project will provide eight self-contained flats with 24/7 on-site support, communal areas, and social programmes. These homes will be based on Rowan Alba's Homes for Life model, which has already played a significant role in helping tenants move on from homelessness. Karen Barr, CEO of Rowan Alba, said: "The generous support from the Allied Vehicles Charitable Trust will help more women in Edinburgh who are living in dangerous situations and at risk of violence to have a safe, warm permanent home." “Individuals can stay in our homes for as long as they choose, and staff are on-site 24/7 to help them recover from trauma. Edinburgh has the highest number of people living in temporary accommodation in Scotland. There is a desperate need for more long-term homes for people facing homelessness and rough sleeping in the city. This generous grant will allow us to buy new furniture to give more vulnerable women a home of their own." The donation from the Trust will contribute to a lasting positive change, giving women at risk of homelessness and violence in Edinburgh a safe and supportive environment where they can rebuild their lives. Laura Wood, a Call Handler at Allied’s Edinburgh Parts hub and a member of the Allied Vehicles Charitable Trust committee said: "Rowan Alba's work provides a transformative solution to homelessness, offering safety and security for women who have endured challenges unimaginable to most people. We are proud to support such a forward-thinking organisation that not only provides housing but also cultivates a path to recovery, stability and independence."

A Nottingham based packaging giant has joined forces with industry leaders to put its weight behind a fundraising campaign for a local cancer care charity. The Wilkins Group based in Colwick, sprang into action when it heard that a team member from one of its customers had been diagnosed with throat cancer, and was being supported by Maggie's. Now the family-run firm which makes food packaging for many of the leading food producers in the UK, is donating funds from the sales of some selected ready meals, as part of a £10,000 fundraising challenge. The fundraising drive came after Pro-Pak Foods new product development manager received a shock cancer diagnosis in 2023. The news prompted suppliers, partners, colleagues, and friends to rally round in order to raise money for the centre at Maggie's which offered support throughout this diagnosis and subsequent care. The fundraising effort has been headed up by his colleague, Giles Leverton. Now, The Wilkins Group has collaborated with Pro-Pak Foods and fellow packaging partners Sheard Packaging and Faerch, in donating 10p from every purchase of its Pro-Cook range to the fundraising total. The products, which are sold through B&M and some smaller retailers, are on sale until Christmas. Justin Wilkins, joint managing director at The Wilkins Group, said: “When we heard about this cancer diagnosis and fundraising, we wanted to help in any way we could. Cancer has touched so many lives and the support that charities such as Maggie’s gives to sufferers and their families is tremendous.” Pro-Pak Foods cooks over 150,000 freshly produced ready meals a day from its base in Malton, North Yorkshire. The Wilkins Group has been producing packaging for the firm for over 10-years. Giles Leverton, purchasing and new business development manager at Pro-Pak Foods, hopes the additional support from its packaging partners will help smash their £10,000 fundraising goal. The fundraising duo have already raised an incredible £4,690 through a series of events including Giles’s entry into the Great North Run. He said: “We can’t thank our packaging partners enough for their support. It was a tremendous shock when our friend and colleague was diagnosed with throat cancer, and it was also a great loss to the business while treatment was being undertaken." “I don’t think we truly understand the physical and physiological trauma patients go through before, during and after cancer treatment, but I am more aware now than I have ever been.” Across the UK, Maggie’s estimates that there are currently more than three million people living with cancer. They expect this figure to rise to 5.3 million by 2040. In 2023, Maggie’s supported 311,036 visits by people with cancer and their loved ones. The not-for-profit organisation, founded by Maggie Keswick Jencks, initially opened in Edinburgh in 1996. It now provides free, expert care and patient support across the UK, online and overseas. In 2011, Maggie’s Nottingham opened on the City Hospital campus. Justin Wilkins said: “Maggie’s is such a worthwhile organisation. We are so proud to be supporting Pro-Pak in their charity mission.”

Bagnalls is the proud winner of the Large Business Apprenticeship Employer of the Year award. The commercial painters and decorators won the accolade at the 2023 West Yorkshire Apprenticeship Awards. 30% of the Bagnalls management team, including two of their board directors, began their careers as apprentices. Bagnalls understand the importance of continued training and support to an individual’s personal and career development. Bagnalls beat tough competitors to take home the title, including Channel 4 and Leeds Teaching Hospitals NHS Trust. Bagnalls’ HR Director, Ellie Jobes, says: “This is a fantastic achievement. This award highlights our commitment throughout the business to apprenticeships and continued learning. Apprentices are key to our business’ success.” The ceremony took place at Wakefield’s Tileyard North in their gorgeous event space, The Carding Shed. Winners ranged from the talented apprentices themselves to supportive employers. Bagnalls support apprentices to achieve their full potential through on-site, hands-on training. This offers an alternative to the traditional university route. Ellie comments: “Some of our apprentices have gone on to have careers of more than 40 years with us! This highlights the true loyalty so many of our apprentices show us.” Apprentices at Bagnalls are high achievers. They’re committed to – and interested in – continued learning and development. A good example of this commitment is Max Rollinson. Max joined Bagnalls as an apprentice at just 16 and received a nomination for the Construction Apprentice of the Year Award. He also became one of the youngest-ever site supervisors at Bagnalls. Max has now joined Bagnalls’ Management Trainee scheme, highlighting the advancement opportunities available to driven apprentices at the company. Another high-achieving apprentice is Dan Ross. Dan was Highly Commended at the awards, in the Higher Apprentice of the Year category. Ellie says: “We’re very lucky to have such a committed high-achiever on our team!” Dan has been with Bagnalls for four years and has shown true dedication to his studies and his work. He joined Bagnalls as he knew that he wanted to develop his skills in a practical work environment, rather than pursuing the academic route offered by universities." Bagnalls are currently recruiting apprentice painters and decorators and trainee managers. If you’re committed to learning and development, why not apply today!

Pudsey-based heritage textile mill and manufacturer AW Hainsworth has been recognised in the Make UK Awards, winning the Developing Future Talent Award and achieving runner-up positions in both the Health, Safety and Wellbeing and SME of the Year Awards. The annual awards are organised by Make UK, a manufacturers' organisation that champions and celebrates British manufacturing, supporting the future growth and development of the industry. The North East, Yorkshire & Humberside Regional Awards Dinner for 2024 was held in Durham and attended by team members from AW Hainsworth. AW Hainsworth will now go forward to the National Awards judging for the Developing Future Talent award, which will take place on 30 January 2025. The Developing Future Talent Award win affirms the fabric manufacturer's commitment and progress in supporting and securing the future of UK textiles. AW Hainsworth hires textile graduates from British universities to help bridge the skills gap in the UK textile industry. The company engages regularly with the next generation, participating in apprenticeship fairs and partnering with universities and local colleges to nurture emerging talent, while providing valuable insights into textile development and production. Internally, AW Hainsworth’s digital committee fosters engagement across all age groups within the workforce, while its school outreach programs inspire young people to explore careers in textiles. Additionally, the business has prioritised upskilling, with over a third of employees actively participating in personal development plans. The company is also investing in a state-of-the-art Engineering Centre to expand its technical capabilities, providing engineers with direct access to advanced equipment and resources to enhance training for apprentices. Amanda McLaren, Managing Director of AW Hainsworth, comments, “Educating and inspiring younger generations to consider a career in textiles is of the utmost importance so we can ensure that the UK textile industry continues to thrive." “We regularly collaborate with other organisations and businesses to help educate, support and inspire future textile talent, and we have a vast focus internally on supporting and nurturing our existing workforce to ensure our team members flourish both in the workplace and out.” The family-run mill invests significantly in fabric development innovation and opened its UKAS-accredited testing laboratory in 2022. It’s focused on placing people at the heart of the business and has been running a wellness programme for two years, which seeks to put people first, shift the culture around mental health, and offer extra support to employees. Ten percent of the workforce are now trained as Mental Health First Aiders, and the business holds bi-monthly wellness workshops. AW Hainsworth also plans to double the capacity of its on-site, private counselling sessions in 2025. These changes have contributed to halving overall absenteeism rates when compared to 2022, and mental health absenteeism is now under 1%. Staff turnover has also reduced to 2%, significantly less than the average turnover in UK manufacturing.

Two St Austell Brewery apprentices have been shortlisted for awards, with one of them also shortlisted for the coveted Achiever of the Year award which will be determined by a public vote. Piers Smith and Alice Norris, who work at Haveners in Fowey and The Borough Arms in Bodmin respectively, have been singled out as Apprentices of the Year in the hospitality category at the upcoming Cornwall Apprenticeship Awards 2025. In total, 49 nominees from colleges and training providers have been shortlisted in 18 categories. Alice Norris has worked for St Austell Brewery for the past three years, starting out as Assistant Manager at The Central in Newquay before moving over to The Borough Arms. Alice said she fell in love with “the pub’s history and charm, the great team and community” and her passion has continued to shine through, seeing her promoted to General Manager earlier this month. Alice, who is completing her Level 4 in Hospitality Management apprenticeship, said: “The course has given me the knowledge and skills to be a well-rounded leader, understand the fundamentals of running a successful hospitality establishment and has given me a confidence to achieve the next step in my career." “The support and guidance from my college mentors has been a real stepping stone in my growth and the support from St Austell Brewery has allowed me the time and resources to thrive. I hope in the future to mentor fellow apprentices to continue their careers in hospitality.” Piers Smith, who is completing his Level 2 Professional Chef apprenticeship has also flourished in his role, with his managers saying the 23-year-old has grown in confidence and skill beyond expectations. St Austell Brewery’s Early Careers Manager, Jon Kelley, said: “Piers is a shining example of resilience, hard work and dedication, who thoroughly deserves every bit of praise that we can give him." “He’s embraced his apprenticeship journey and transformed from a shy person into an outgoing and much-loved member of his team and community.” Piers was not only shortlisted for Apprentice of the Year in Hospitality, but he is also in the running for Cornwall’s Achiever of the Year award. The winners will be announced on the evening of the Awards' ceremony on Friday 7th February.

Shoppers took 35 million more trips to Lidl (1) – the highest annual growth of any UK supermarket – and switched half a billion spend to the discounter (2). 60% of households shopping at Lidl as it continues its streak as fastest growing bricks and mortar supermarket for over a year (3). More recently, the discounter secured 326,000 additional shoppers, more than any other supermarket (4). Discounter’s latest results show turnover increased by 16.9%, almost reaching £11bn, along with increased profits (5). Comes as Lidl accelerates expansion with 18 new stores set to open in the next few months followed by 40 in next financial year. Its newest store opened in Bristol last week, exactly 30 years since its first 10 stores opened in GB. As it celebrates 30 years since opening its first stores in GB this month, Lidl has revealed it experienced the highest growth in customer visits of any supermarket last year. As the fastest growing supermarket for more than a year – an unparallelled accomplishment - shoppers also switched half a billion of spending to the discounter from other grocers. Now a firmly established family brand, 60% of households shop at Lidl and, with over 35 million more shopping trips made to Lidl stores compared to the previous year, it’s clear that customers are returning more frequently to the discounter as well. This also resulted in the highest increase of products sold across the sector, with shoppers putting over 267 million more items in their baskets than the year before (6). The significant investments Lidl has made into its infrastructure and upgrading stores, including a quarter of a billion in fixed assets (7), has contributed to improved product freshness and an enhanced store experience. These developments, along with expanded ranges and continued commitment to competitive prices, have led to the rise in customer trips. The discounter’s rewards app, Lidl Plus, has also contributed to this boost in footfall with a 24% increase in users this year (8). These actions have contributed to positive revenue and profit growth for Lidl, as disclosed in the discounter’s latest financial accounts published today. In the financial year ending 28th February 2024, earnings before interest and tax [EBIT] increased to £220.8m (FY23: £28.5m) and revenue increased by 16.9% from £9.3bn to almost £11bn (9). As well as making investments in its people and producers, spending over £20bn with British suppliers over the past five years (10), Lidl is continuing to strengthen its foundations for future growth. The discounter is now accelerating its expansion plans with 18 new stores set to open in the next few months - including nine in the next four weeks alone - followed by around 40 more over the next financial year and hundreds more after that. Its newest store opened just last week in Bristol, nearly 30 years to the day that Lidl opened its first 10 stores in GB. More recently, the discounter secured 326,000 additional shoppers – more than any other supermarket. It saw particularly strong category growth across its fresh produce (+22%) becoming the fastest growing grocery retailer across the fresh fruit, veg and salad market, whilst bakery grew from 10.8% to 16% in the last 10 months, taking the discounter from 4th to 2nd largest retailer in the category (11). Ryan McDonnell, Lidl GB CEO, commented: “We’ve come a long way since we opened our first stores here 30 years ago, from stocking jars of frankfurters to now having over two thirds of our products sourced from British suppliers. While our product range has continued to evolve, we’ve stayed true to our customer promise of offering the best value on the market. In doing so, we have become trusted by households across the country to be their one-stop shop, while always supporting British food production." “Now, 60% of households are choosing to shop at Lidl, and they’re coming back more frequently, which is a fantastic sign of increasing loyalty. We have great momentum and, although our ambitions have no ceiling, we won’t rest on our laurels. We’ve been laying the foundations for further growth whilst creating an even better store experience for shoppers. As we look to the future, our customers, colleagues, and suppliers can count on us to always offer the best value, the best pay and long-term commitments so that we can continue to grow together.” References Kantar, 52 w/e 25 February 2024 Kantar, 52 w/e 25 February 2024 Kantar, 52 w/e 25 February 2024 Kantar, 52 w/e 25 February 2024 Lidl, y/e 29 February 2024 Kantar, 52 w/e 25 February 2024 Lidl, y/e 29 February 2024 Lidl Lidl, y/e 29 February 2024 Lidl, y/e 29 February 2024 Kantar, 12 and 52 w/e 03 November 2024 Lidl, y/e 29 February 2024

Deloitte Global has released its Technology, Media & Telecommunications (TMT) 2025 Predictions report, forecasting a pivotal gap year for Generative AI (GenAI) and the TMT sector—spanning from technical challenges for the industry to societal imperatives. By addressing challenges in infrastructure, gender equity, energy consumption, trust, and capabilities, the industry could be poised for a significant leap forward and is well positioned to determine the future of Al’s legacy. Key Takeaways: GenAI Driving Data Center Energy Consumption Surge : Electricity consumption by global data centers is forecasted to double to 4% by 2030 as power-intensive GenAI consumption grows faster than other uses and applications. Women’s Adoption Gap In GenAI Usage Closing Quickly : By 2025, women’s experimentation and usage of GenAI is projected to meet or exceed that of men, but tech companies still should improve trust, representation in training models, and diversity in the AI workforce. Enterprise Use Of AI Agents On The Rise : 25% of enterprises using GenAI are forecast to deploy AI agents in 2025, growing to 50% by 2027. GenAI Set To Make Devices Smarter : In 2025, the share of shipped GenAI enabled smartphones could exceed 30%, in addition to about 50% of laptops with local GenAI processing capabilities. Streaming Fatigue Fuels Shift To Aggregated Platforms : The number of streaming video-on-demand subscriptions (SVOD) per household is forecast to peak in 2025 at four services in the US and a little over two in Europe, then decline going forward. Telecom Consolidation Expected To Reshape Global Markets : Wireless telecom mergers and acquisitions are likely to rise, especially in Europe, enhancing network resilience and efficiency. "We are standing on the brink of a new era in human invention and the choices we make today around the development and use of artificial intelligence will shape the future,” says Deloitte Global TMT Industry Leader Ariane Bucaille. “As we define the roadmap for Generative AI, we must navigate many challenges. By embracing trust, inclusivity, and sustainability, we can ensure that technological advancements positively impact not only the current generation but also businesses, consumers, and broader communities for generations to come.” GenAI expected to double data center energy usage with advanced technologies helping in clean energy transition Deloitte predicts that global data center electricity consumption could roughly double to 1,065 terawatt-hour (TWh) by 2030—or 4% of total global energy consumption, as power-intensive GenAI training and inference continue to grow faster than other uses and applications. Tech companies—including cloud providers, semiconductor companies, and data center operators—can help drive the clean energy transition and mitigate the growth in electricity usage. They may leverage substantial financial resources that their partners—innovators, renewable energy producers, and utilities—may lack. Major tech companies are actively investing in more efficient chips, innovative cooling solutions, energy-efficient designs, and carbon-free energy sources and are committed to achieving net-zero targets. While Deloitte predicts that these collaborations have the potential to mitigate the energy impact of GenAI, many associated research and development initiatives and pilot programs are expected to take years to yield tangible results and return on investment. Women’s use of GenAI projected to match that of men in 2025 in US but global gaps remain Deloitte predicts that experimentation and usage of GenAI by women will equal or exceed that of men in the US by the end of 2025. In 2023, women’s use of GenAI was just half that of men. However, over the past year, the proportion of women in the US adopting GenAI has tripled, significantly outpacing the 2.2x growth rate seen among men. Around the world, countries and regions are expected to close the adoption gap at varying rates with some achieving equal usage by men and women in 2025 and others in 2026. “While the rapid increase in women’s adoption of GenAI is promising, eliminating gender disparities in GenAI will require focused efforts. Women in tech - who are using GenAI more than their male counterparts for everyday tasks - can be an important cohort to help drive change. Tech companies must enhance trust, reduce bias, and strive for more diverse GenAI workforces – including at the leadership level – to ensure that everyone can fully engage with and benefit from GenAI technologies. By doing so, companies can unlock greater innovation and broaden their consumer base ensuring products and services are equitable and effective globally,” says Gillian Crossan, Deloitte Global Technology Sector Leader. AI agents are on the rise with 25% enterprise adoption expected by 2025 Deloitte predicts that 25% of enterprises using GenAI are expected to deploy AI agents in 2025, growing to 50% by 2027. The growth of AI agents—software solutions designed to complete tasks with minimal human intervention—will be fueled by innovation from both start-ups and established industry leaders identifying new revenue opportunities. Built on large language models, these AI agents will offer greater flexibility and a wider array of use cases compared to traditional machine learning or deep learning methods. While the ultimate aim is to achieve autonomous and dependable agents, Deloitte expects significant improvements in their capabilities in 2025 as these technologies rapidly advance, with agentic AI moving past pilots and proofs of concepts in some markets and for some applications in 2025. While early adopters will grapple with complexities and challenges, the vision is compelling enough for organizations to take proactive steps to prepare themselves now for adoption. This evolution will enable AI agents to tackle a broader range of applications, providing businesses with valuable tools to drive productivity of knowledge workers and efficiency gains in workflows of all kinds. Smartphone and PCs put the power of GenAI to test As smartphone and PC manufacturers aim to reignite consumer excitement, Deloitte forecasts that in 2025 GenAI-enabled smartphones will exceed 30% of total shipments. PCs with local GenAI processing capabilities will be around 50% of total shipments, rising from 30% in 2024. 2025 is a pivotal year to evaluate the value and comprehensiveness of early GenAI functionalities. Although Deloitte predicts a 7% increase in global smartphone shipments (up from 5% in 2024) in 2025, the revenue impact is higher than the volume impact as consumers buy higher-priced premium smartphones equipped with advanced GenAI features. But time will tell how quickly users adopt the innovative features that providers are hoping to drive sales. Fatigue and cost fuel rise of aggregated streaming platforms After peaking at around four subscriptions per consumer in the US and over two in most European markets in 2024, Deloitte predicts that SVOD stacking—the trend of subscribing to multiple standalone video-on-demand services—has reached its limit and will start declining in 2025. While standalone subscriptions are expected to decline, SVOD revenues may still rise as providers implement price hikes, tighten password-sharing policies, and enhance bundling options. Deloitte forecasts that the market will stabilize with just two or three standalone direct to consumer SVOD players per market, complemented by aggregators. Echoing the traditional model of pay TV providers, Deloitte forecasts a resurgence of aggregation, where intermediaries—like telcos, pay TV platforms, and tech platforms—will consolidate multiple content sources into single offerings. This shift may reduce costs and create a more sustainable streaming ecosystem. "This shift from a promising, user-centric model to a complex, fragmented experience has created a call for a return to aggregation, echoing the simplicity and accessibility that initially drove the streaming revolution,” says Kevin Westcott, Deloitte Global Telecommunications, Media & Entertainment (TM&E) Sector Leader. “We now expect to see a new era of streaming, one that prioritizes user experience and innovation. The future of AI-powered streaming lies in platforms that can anticipate individual preferences, deliver tailored content, and blur the lines between traditional viewing and interactive experiences." Telecom consolidation reshapes global markets Deloitte predicts that there will be an increased pace of wireless telecom consolidation, especially in Europe, beginning in 2025 and continuing on, creating a more viable and sustainable wireless ecosystem, especially in smaller markets. While Deloitte forecasts that the overall number of M&A deals will remain steady at about 400, the focus will shift towards market-level consolidation, with smaller telecom companies targeted by larger players. Since 2020, 13 telecom mergers have been approved or are under consideration, including six in the Americas, five in Asia-Pacific, and two in Europe.

The latest Lloyds UK Sector Tracker reveals that in October, food and drink manufacturers recorded the fastest output growth of all sectors for the fourth consecutive month (65.3 vs. 66.1 in September). The Tracker, which uses exclusive PMI data to track the performance of 14 sectors of the UK economy, also revealed this was despite slower demand growth (53.6 vs. 66.5 in September). Businesses were surveyed between 10 and 29 October. Food and drink producers saw input costs rise at the slowest rate (55.0) since March 2024. As a result, they also slowed the rate at which they raised prices charged to customers (50.5 vs. 58.4), which includes supermarkets and retailers. Firms in the sector also hired staff at their fastest pace on record (59.7 in October vs. 50.7 in September), since January 1998 when the Tracker began. A reading on the Tracker above 50.0 indicates expansion, while a reading below 50.0 indicates contraction. Aled Patchett, Head of Consumer at Lloyds, said: “This month’s Tracker reflects the determined optimism of the businesses that we speak to in the sector, as we head into one of the busiest times of the year." “Branding and positioning are more important than ever as consumers think more actively about the composition of their food and drink spend, and they are increasingly looking for nutrition and convenience." "Businesses are also keeping a close eye on the possible impact on supply chains caused by recent global weather impacts. The sector sees some challenges ahead, but businesses continue to work hard to navigate their way through them.” The Broader UK Picture Looking at activity across all 14 sectors, October’s Tracker shows that six sectors saw output rise month-on-month, one more than in September. Five sectors saw demand, as measured by new orders, rise, which remains unchanged from the previous month. Overall, 12 sectors saw their input costs rise, two fewer than in September. The same number (12) also raised their prices charged to customers, which remains unchanged from September. Nikesh Sawjani, Senior UK Economist at Lloyds, said: “While the number of sectors reporting higher output increased in October, the data suggests that growth in recent months has become focused on fewer sectors compared to the first half of the year. In part, this has been driven by some softening in demand conditions – with the number of sectors reporting increases in new orders also moderating in recent months – but also likely reflects some firms facing capacity limits due to lower employment levels.”

Figures published by HM Revenue and Customs (HMRC) this morning, show inheritance tax receipts hit £5 billion in the 7 months from April to October 2024. This is £0.5 billion higher than the same period in the previous tax year and continues the upward trajectory over the last two decades. In the last full tax year inheritance tax raised £7.499 billion with just one in 20 estates is liable. However, in the Autumn Budget the Chancellor announced: An extension to the freeze on IHT thresholds, which have been frozen for a further two years (until 2030). Agricultural Relief and Business Property Relief have been reformed, meaning that from April 2026, the first £1m of qualifying combined assets will have no inheritance tax at all, but for assets overt £1m a 50% relief will apply, at an effective rate of 20%. Qualifying AIM shares will no longer have full exemption from IHT, instead from 2026 they will have an inheritance tax rate of 20% if they are held for two years. From 6th April 2027, inherited pensions could be subject to inheritance tax in addition to income tax levied on the recipient meaning passed down pensions could be taxed at an effective rate of up to 67% - subject to consultation. Alex Davies, CEO and Founder of Wealth Club said: “Inheritance tax was already an absolute cash cow for the government. The extreme changes announced in last month’s Budget which badly affect farmers, business owners, pension policyholders and investors, mean these figures are only going to increase over the coming years." "We believe all the changes to inheritance tax made in the Budget are extremely short sighted. Firstly, the tax burden is already at its highest in 70 years and growth is very low. More tax is likely to stifle growth further. Secondly these changes have given those affected no time to plan. It’s very much a case of 'one day, that’s your money, the next day, it’s not'; a sentiment which is hardly going to encourage people to invest for the future whether that’s in their own business or in a savings vehicle such as a pension." "That said you can only base your decisions on the facts as they are now and seemingly there are still ways available to reduce the inheritance tax paid by your estate, although many of them do require time and more risk." As Alex continues, those concerned about inheritance tax should seek advice and consider: Giving Money Away Early Gifts taken out of regular income, which are not deemed to affect the giver’s standard of living, are inheritance tax free on day one – as are certain smaller gifts. Timing is key as you can give unlimited amounts away but typically these take seven years to be completely inheritance tax free. Of course, once you give away the money you’ve lost control. If you need it back for an emergency, that’s not an option. Investing In Unlisted Companies That Qualify For Business Property Relief These are typically inheritance tax free after two years. Investing in unquoted businesses can be risky, however, unlike giving the money away, you retain control. From 2026 you will have an overall £1 million Business Relief Allowance. Anything in addition will be taxed at 20%. Investing In An AIM ISA. ISAs are not inheritance tax free. When you pass away, your loved ones could miss out on 40% of your hard-earned cash. AIM ISAs are a popular, although much riskier way, to reduce this. Currently after two years they could be IHT free. From 2026 the IHT will be halved toa rate of 20%.