6:43 am, October 30, 2025
More than a quarter of Scots businesses expect to shrink, figures show
More than a quarter of Scottish small business expect to shrink over the coming year, the Small Business Index (SBI) has found, as it reported its second-lowest quarterly revenue results in its 15-year history.
The survey, from the Federation of Small Business (FSB), showed that 29.1% of small businesses expect to contract over the next 12 months, compared to just 6.4% which expect to grow.
More than half (57%) of small firms said their profits decreased during the latest financial quarter. The proportion reporting revenue growth fell to a net balance of minus 43.7% – the second-lowest quarterly revenue results in 15 years.
WH Smith postpones annual results amid probe into US accounting error
WH Smith has delayed its annual results by over a month as it grapples with the fallout of an accounting blunder that saw it overstate profits in its US business by around £30m.
The retailer said figures for the year to August 31, which had been due on November 12, are now expected to be published on December 16, as accounting giant Deloitte continues an independent review into the accounting issue, which is not set to complete until the end of November.
WH Smith saw its shares plunge when it revealed in August that its trading profit in North America had been overstated by about £30m, when reviewing its finances.
Mini Paul Smith Edition adds more style to iconic hatch
The Mini Cooper range has gained more style with the introduction of the Paul Smith Edition variants.
The latest Mini Paul Smith Edition will be available on the Cooper three-door, five-door and Convertible models. There’s the choice of three colours – Statement Grey, Inspired White and Midnight Black, plus a choice of two roof colours. Other exterior details include hand-written Sir Paul Smith ‘hello’ puddle lights in the door mirror. There’s the Paul Smith touch inside too with special mottos and colours used.
Prices start at £32,705 with first customer deliveries to the UK expected to commence in the spring of next year.
The markets
The pound has fallen sharply as worries over the UK’s bleak fiscal outlook weigh heavily before next month’s closely-watched Budget.
Sterling tumbled to a two-and-a-half-year low against the euro and a three-month low versus the US dollar, down 0.4% at 1.13 euros and 0.4% lower at 1.32 dollars, following steep falls on Tuesday.
Stock prices in London closed mostly higher on Wednesday, though. The FTSE 100 index closed up 59.40 points, or 0.6%, at 9,756.14. The FTSE 250 ended down 35.85 points, or 0.2%, at 22,448.27, and the AIM All-Share closed up 2.10 points, or 0.3%, at 772.89.
Sir Keir Starmer rules out need for investigation into Reeves’ rental rule break
An investigation into chancellor Rachel Reeves’ admission that she fell foul of local housing rules when renting out her family home is ‘not necessary’, Sir Keir Starmer has said.
The prime minister gave his backing to Reeves after consulting his independent ethics adviser, Sir Laurie Magnus.
The chancellor admitted to Sir Keir she did not obtain the required ‘selective’ rental licence for her south London home when she moved into No 11 Downing Street after Labour won the election. She said she ‘sincerely’ apologised for her ‘inadvertent error’.
Compensation scheme opens for victims of Post Office Capture IT scandal
A scheme has been launched to compensate victims of the Post Office Capture IT scandal that saw former subpostmasters forced to repay shortfalls.
The Government said those affected can now apply for redress, with those found to be eligible set to receive £10,000 immediately and final awards potentially reaching up to £300,000 after full assessment by an independent panel, or more in certain cases.
The Capture system pre-dated the now infamous Horizon software, which has been responsible for around 1,000 wrongful convictions.
Wednesday on Car Dealer
Used car trade prices slipped by 1.1% in October, but market is in very good shape – Cap HPI
Used car trade prices slipped by 1.1% in October, but the market is showing ‘resilience’ and is in ‘better’ shape going into November than on average.
Vertu appoints new general manager at ‘ambitious’ Halifax Nissan car dealership
Vertu has strengthened the leadership team at its Halifax Nissan site with the appointment of a new general manager.
Motor trade sees ‘modest’ pay growth as industry continues to battle cost pressures
The motor trade has seen ‘modest’ pay growth this year in the face of mounting cost pressures.
Weather
A bright but chilly start gives way to increasing cloud, wind and showery rain spreading into western and northern areas later, reports BBC Weather.
Tonight will be windy and unsettled, with possible gales on western and northern coasts. Heavy rain moves east overnight, clearing by dawn with a few showers lingering west.
