UK businesses continue to hope for the best and prepare for the worst ahead of the Budget announcement later this month, with latest reports suggesting lawyers and accountants using LLPs might not be quite as hard hit as first feared - but self-employed people, landlords and those with investment income could be asked to shoulder more of the burden.
Among the biggest plc companies, Diageo have announced former Tesco boss Sir Dave Lewis as their new chief executive, ending a months-long search for a new CEO, with Lewis set to start from January at the drinks-maker which has struggled across the year.
US stock market futures show a sharp rise ahead of trading later today, with news that the longest-ever government shutdown might be finally coming to an end. The S&P 500 is set to open up more than 0.7 per cent higher, with the Nasdaq more than 1.3 per cent up.
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Key points
- Guiness-maker Diageo finally appoint new CEO
- Shares in the drinks firm surge by 7% in morning trading amid wider FTSE 100 recovery
- The job type which is most threatened by AI for 2026
- Brits expected to spend £9.5bn over Black Friday-Cyber Monday sales
- Consumer deals expert offers key saving tip ahead of Black Friday spending
Major bank launches new £200 switch offer – but you could get more than £500
16:16 , Karl MatchettThe battle for your current account shows no signs of slowing down as another bank has launched a cash switch offer - and this one could be the best one yet.
Santander will now give you £200 in cash to move your main account to the bank, which is immediately one of the biggest offers on the market. But the real value comes if you’re able to sign up for one of its paid accounts and have some savings, which could net you £524 altogether even after fees.
Major bank launches new £200 switch offer - but you could get more than £500
Business and Money - live: 10 November
08:01 , Karl MatchettMorning all - another week starts, another bunch of people fearing that the Budget is going to leave them worse off.
We’ll bring you the latest money matters around what the chancellor might or might not do, how you can continue to look after your own household finances and where the best places are for your savings to be right now.
As ever, we’ll also have the top business news, stock market movements and more.
Diageo's new CEO: Former Tesco chief to start in January
08:16 , Karl MatchettWe start with the news one of the big hitters from the FTSE 100 has finally named a new chief executive.
Diageo, the maker of Guinness, Johnnie Walker whisky and Ciroc vodka, has seen its share price drop almost a third, 32 per cent, year to date and last week issued a profit warning.
Sir Dave Lewis is the new CEO, a former leader of Tesco for six years who also spent decades at Unilever. He has been chair at Haleon, but will step down from that role to start at Diageo on 1 January 2026.
Previous chief executive Debra Crew stepped down in July and the drinks maker has been criticised by some investors for being slow in finding a replacement.
“Lewis brings deep experience in consumer brands from his time leading Tesco and decades at Unilever, though he lacks direct exposure to the spirits industry. Investors may welcome his strong marketing pedigree, but any major strategic reset will take time, leaving near-term focus on navigating tough trading conditions,” said Matt Britzman, a senior equity analyst at Hargreaves Lansdown.
FTSE 100 rises as investors return to stock markets
08:25 , Karl MatchettLooking like the end of the US shutdown is boosting stock markets across the board.
The FTSE 100 has opened more than 0.6 per cent up, with the FTSE 250 up a similar amount in (very) early trading.
France and Germany also see the major index in each up by more than 1 per cent.
Investors are returning in their droves this morning it appears - we’ll see how long it lasts.
Co-op to open or refurbish dozens of stores
08:40 , Karl MatchettThe Co-op has said it is pushing forward with a number of new stores and major refurbishments as it bounces back from a damaging cyber attack.
The retailer said 50 stores will be opened or re-opened by Christmas as it urged the Government to reform business rates ahead of the autumn Budget.
It said reforms will be “vital” to encourage further high street investment as it continues with its own expansion ambitions.
The latest slew of openings will take the Co-op’s store openings and refurbishments to more than 200 sites for the latest financial year.
Co-op to open or refurbish dozens of stores amid cyber attack recovery
Diageo shares surge 7% on CEO news
08:50 , Karl MatchettInvestors look to have reacted positively to that appointment by Diageo - shares are up 7 per cent this morning.
That makes the firm the highest riser on the FTSE 100.
“The announcement is clearly being seen as a potential inflection point for the group given the new hire’s proven ability in brand building,” pointed out interactive investor’s Richard Hunter.
The job type which is most threatened by AI for 2026
09:00 , Karl MatchettHere’s one nobody wants, but maybe need to know: Research has suggested the job types or roles that are set to be most affected by AI next year.
The Chartered Institute of Personnel and Development (CIPD) conducted research which shows one in six employers believing AI will mean a reduction workforce headcount in 2026 (fewer jobs, in other words).
And among those, a massive 62 per cent - nearly two-thirds - believe the jobs most at risk are those in clerical or administration roles.
Managers or senior staff (28per cent) are next in line, with sales or service staff (27 per cent) not far behind.
“Junior roles stand to be most affected by AI, but we need a national drive to retrain and upskill people of all ages and career stages,” said James Cockett, a senior economist at the CIPD.
More than half of Brits finding it harder to save - especially women
09:20 , Karl MatchettSix in 10 (61%) people are finding it harder to save compared with a year earlier, a survey has found.
Women (65%) were more likely than men (57%) to report increased difficulty, according to the research for The Investing and Saving Alliance (Tisa).
Full details here:
Women ‘more likely than men to say saving is harder now than last year’
UK short of 150,000 builders to hit government target
09:43 , Karl MatchettAn Oxford Economics report produced for the Construction Plant Hire Association suggests that the UK needs more than 150,000 extra builders if the nation is to hit the government target of 1.5m new homes.
The chief executive of the CPA said the data showed the UK heading the wrong way.
“Every year-on-year figure is showing reversals in the numbers [of workers], so we’re actually going backwards at the moment,” said Steve Mulholland, per the Times.
“We don’t have the tradespeople that we used to have in the last housing boom.”
Brits expected to spend £9.5bn over Black Friday long weekend
10:24 , Karl MatchettGot your Christmas presents lists ready? Black Friday is fast approaching and apparently it seems that’s when a lot of us will be splashing out.
VoucherCodes research suggests Brits will spend £9.52bn over the four day weekend - that’s 4.2% more than last year.
Around a third comes on the Friday itself, but Cyber Monday will also see well over £3.3bn spent - the highest single day spend, suggests the research.
54% of that shopping is expected to be online.
“Black Friday can feel overwhelming so make sure to come prepared with carefully crafted wishlists and price comparisons, so you know when a saving is too good to turn down and when might be best to hold off,” said VoucherCodes’ savings expert Zoe Morris.
Struggling drinks giant Diageo snaps up former Tesco boss for top role
10:45 , Karl MatchettDiageo, the drinks giant behind Guinness and Johnnie Walker, has appointed Sir Dave Lewis, the former Tesco boss, as its new chief executive.
He will assume the role on January 1, tasked with boosting the company's performance.
Lewis replaces Nik Jhangiani, who has been acting as interim chief executive since July and will now revert to his previous position as chief financial officer.
Sir Dave will resign as chairman of consumer healthcare firm Haleon at the end of December to take the helm.
Full details on Diageo’s new boss:
Struggling drinks giant behind Guinness snaps up former Tesco boss for top role
Cyber hack insurance payouts rose by triple even before this year's attacks
11:01 , Karl MatchettInsurers had to pay out last year triple the amount compared to a year earlier in claims related to cyber attacks.
The FT reports figures showing at least £197m was paid out in 2024, more than triple the £60m paid the previous year.
Those figures will not account for the likes of M&S and Co-op, who were hit this year.
Jaguar Land Rover was also hit but was not covered for cyber insurance.
Major bank launches new £200 switch offer - but you could get more than £500
11:20 , Karl MatchettThe battle for your current account shows no signs of slowing down as another bank has launched a cash switch offer - and this one could be the best one yet.
Santander will now give you £200 in cash to move your main account to the bank, which is immediately one of the biggest offers on the market. But the real value comes if you’re able to sign up for one of its paid accounts and have some savings, which could net you £524 altogether even after fees.
Major bank launches new £200 switch offer - but you could get more than £500
Consumer deals expert offers key saving tip ahead of Black Friday
11:40 , Karl MatchettLooking again at that massive £9.5bn spend by Brits over Black Friday weekend, it’s worth reiterating that not every deal is as good as it might first appear, so do your homework before parting with cash.
To that end we’ve got our Consumer writer Molly Greeves on the case to give you the best way to do that. Heed her words!
“Black Friday is still the best time of year to buy big-ticket items and Christmas presents, but there are lots of deals out there that aren't as good as they seem,” Molly says.
“When you see an offer, ignore the recommended retail price (RRP) and search for the item on Price Runner (or camelcamelcamel for Amazon products). This way, you'll find out how much the product actually sells for when it's not on sale, while also being able to check if it's cheaper anywhere else.
“For example, Currys is currently offering its lowest ever price on a Ninja detect duo power blender (£148.99). However, when I pop the item's name into Price Runner, I can see that it's being sold for more or less the same price at Amazon, AO, John Lewis and Very – so it's hardly an unmissable deal.”
If you want to check out the latest deals which Molly rates more highly, here’s our Black Friday deals live blog.
Ofgem switch Tomato Energy customers to British Gas
12:00 , Karl MatchettLast week’s collapse of supplier Tomato Energy left thousands of customers in limbo, but Ofgem have confirmed today what happens next - including the supplier taking them on.
A statement read:
“Ofgem has appointed British Gas to take on supplying Tomato Energy's 15,000 domestic customers, and 8,000 non-domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers.
“Funds that current and former domestic customers of the supplier have paid into their accounts will be protected, where they are in credit. Domestic customers will also be protected by the energy price cap with their new supplier.
“For existing Tomato Energy customers, energy supplies will continue as normal after they were switched over to British Gas on Sunday 9 November 2025.”
How to identify an ‘office frog’ and handle the Gen Z job-hopping trend
12:30 , Karl MatchettA new buzzword, the ‘office frog’, is rapidly gaining currency within HR and corporate circles, pinpointing a distinct trend among younger employees.
The term describes younger employees – particularly those from Gen Z – who frequently transition between roles, akin to a frog moving from one lily pad to the next.
This trend poses questions for employers already grappling with skills shortages, retention pressures, and rising expectations on environmental, social, and governance (ESG) performance.
It raises issues about how companies can cultivate loyalty, invest in their people, and maintain vital institutional knowledge, while simultaneously addressing the evolving demands of a new generation of workers.
How to identify an ‘office frog’ and handle the Gen Z job-hopping trend
How the right type of debt can actually help improve your wealth
13:00 , Karl MatchettHaving debt is widely viewed as something negative, but taking out a specific type of loan could actually help you become significantly better off.
People often aspire to be ‘debt free’ and make this a primary financial goal. There are good reasons for this in many cases, and it will be a wise move for a lot of people.
Outside of a mortgage, which is an essential part of buying a home for the vast majority, spending money on paying interest is not a good way to improve your financial standing.
There is a crucial distinction that must drawn between two very different types of debt though.
How the right type of debt can actually help improve your wealth
Experts explain what happens to your pension when you die
13:30 , Karl MatchettPlanning for retirement often focuses on maximising income, but the fate of pensions after death is a crucial, yet often overlooked, aspect of estate planning.
While the state pension typically ends upon death, understanding the nuances of different pension types and potential survivor benefits is essential for ensuring your wishes are met.
The basic state pension, available to those 66 or older who've made sufficient National Insurance contributions, generally isn't inheritable.
However, complexities arise with the Additional State Pension, applicable to men born before 6 April 1951, and women born before 6 April 1953.
Used EVs hits record numbers
14:00 , Karl MatchettA record number of used car buyers are turning to electric vehicles.
Between July and September more than 80,000 EVs changed hands, SMMT data shows - a market share of 4 per cent, up from below 3 per cent a year earlier.
The government has been warned by several organisations that plans to introduce a ‘per mile’ fee for EVs could seriously hamper the electrification push.
FTSE 100 up 1 per cent, US stocks open higher
15:00 , Karl MatchettIt has been a positive day for the London Stock Exchange with the FTSE 100 up almost a full percent - led by Diageo’s resurgence on that morning CEO news.
US stocks have also opened in the green following news that the government shutdown is expected to end soon.
