Fashion brand LK Bennett on brink of collapse

The upmarket fashion brand LK Bennett appears to be heading for collapse for the second time in six years.On Tuesday the company filed an application with the high court to appoint an administrator to the business, which employs about 280 staff.The move suggests that the clothing chain, which was founded by Linda Bennett in 1990 and is now owned by China-based backers, appears to have failed in its widely publicised efforts to unearth a saviour.Should LK Bennett appoint administrators it will be the second time in recent years it has entered insolvency proceedings – despite its reported high-profile fans, who include the Duchess of Cambridge and the former prime minister Theresa May.In 2019 the business collapsed into administration after its owners failed to find a new financial backer

Jhoots Pharmacy chain could face insolvency after Lloyds Bank high court application

A struggling national pharmacy chain accused of owing its locums £670,000 in unpaid fees has been hit with an application to place the business into insolvency proceedings.Jhoots Chemist, which trades under the name of Jhoots Pharmacy, was named in a high court application to appoint an administrator, submitted on Monday by Lloyds Bank.The move comes after the company – which has run more than 100 outlets – was criticised in the autumn by MPs for not paying locum pharmacists who had worked at the company’s branches on a freelance basis. The chain is run from Walsall in the West Midlands by a businessman called Sarbjit Singh Jhooty.In an urgent parliamentary debate about the status of the group in October, MPs raised concerns about the behaviour of Jhoots pharmacies including over its failure to open branches, management of controlled drugs, and not paying staff, landlords and other suppliers

Five charts that explain the global economic outlook for 2026

The global economy proved to be more resilient in 2025 than had been feared, despite severe headwinds that ranged from Donald Trump’s trade war to geopolitical tensions and the conflicts in Ukraine and the Middle East.Entering the new year, the hope is that the worst of the recent inflation shock has passed, as the world’s most powerful central banks lower interest rates. However, the pre-Covid age of rock-bottom borrowing costs is a distant memory, global growth is slowing and conditions remain fragile.Here are five key charts underpinning the economic outlook for 2026.After years of hype, the catalytic potential of artificial intelligence will feature heavily for the global economy in 2026

Octopus Energy to sell stake in software spin-off Kraken at $8.65bn valuation

Octopus Energy has agreed to sell a stake in its Kraken software arm, in a move that would value the division at $8.65bn (£6.4bn) and could open the way for a stock market flotation.The technology, which it already licenses to some rival suppliers, has been vital to the energy company’s success, making it easier to manage customer billing, smart meters, electric vehicle charging and home batteries to make using renewable power cheaper.Octopus said new investors, including the asset manager Fidelity International and the Ontario Teachers’ Pension Plan Board, had joined existing shareholders to acquire a $1bn stake in the business

Renewable energy project approvals hit record high in GB in 2025, data shows

A record number of renewable energy projects were given the go-ahead in Great Britain in 2025, after planning approvals almost doubled year on year, according to an analysis.The energy capacity of new battery, wind, and solar projects that received approval climbed to 45GW this year, 96% higher than in 2024, according to data from Cornwall Insight.The boom was driven by applications to build new battery storage, which almost doubled to 28.6GW this year from 14.9GW in 2024

Marks & Spencer launches ‘nutrient dense’ range for people on weight-loss jabs

Marks & Spencer is targeting weight-loss jab users with a new range of “nutrient dense” food that it claims will satisfy customers who are eating less.The retailer said the range, which launches on 5 January and includes salads, breads, yoghurt bowls and chicken dinners, was “perfectly portioned to contain high amounts of nutrients per calorie”.People across the UK who are trying to lose weight are increasingly turning to jabs such as Wegovy, Zepbound and Saxenda, which suppress users’ appetites.The trend poses new challenges for food retailers such as M&S, which are trying to maintain sales as some customers eat less.The head of food innovation at M&S, Annette Peters, said the new range was “great if customers are reducing their food intake, such as people using the GLP-1 medications