Business news live: FTSE 100 rises and Warren Buffett’s new $1bn investment – UK Times

Lloyds customers will soon be able to use a new app feature to deposit coins and banknotes into their account at the same time as dropping off a parcel or picking up a pint of milk in stores.

The feature uses a barcode, enabling people to deposit up to £300 per day in notes and coins, up to a maximum of £600 a month.

People will be able to pay money in at more than 30,000 locations which have PayPoint.

The plant-based protein company Beyond Meat – a massive post-Covid stock market smash hit which then saw its share price capitulate – has rejected reports it is set to file for bankruptcy.

Revenues dropped to $326m last year and only $144m in the first half of 2025.

The company has let go of all staff in China, suspending operations there, and further job losses were announced in north America – about 10 per cent of the total staff number altogether.

There were then some reports saying it was out of cash and filing or considering filing for bankruptcy – but the company have come out refuting that.

In early 2021 company shares were about $178; in the past five years they have lost 98 per cent of value and are now around $2.63 per share.

A board fallout at digital bank N26 sees investors seeking to remove the founders.

The two who are now co-CEOs could depart by year’s end, reports the FT, with Germany’s regulator threatening sanctions on the firm due to risk management weaknesses.

A deal to remove the pair of co-owners could see them lose their veto rights in exchange for early investors taking a hit on expected returns.

A report has suggested more than 100 large supermarkets across the UK could be forced to close due to rising rates.

Government plans to put up the amounts businesses must pay for big retail stores will make 50 Sainsbury’s stores, “tens” of Tescos and others for the likes of Asda and Morrisons unprofitable, the FT reported.

The larger supermarkets operate with thin profit margins, relying on huge bulk selling to generate cash.

They are reportedly displeased that the plans would also not hit discount rivals Lidl and Aldi, as they run smaller stores which would be unaffected by the plans.

A senior figure in the hospitality sector has sent a stark warning to Rachel Reeves ahead of the autumn Budget: “Your taxes are curtailing growth”.

Baton Berisha, chief executive of Rare Restaurants – the company which owns Gaucho and M restaurant brands – has called for National Insurance Contributions (NICs) to be restored to the level they were before April’s increase and said he had the backing of others in the industry wanting the same.

Pointing to Office for National Statistics (ONS) figures, Mr Berisha highlighted 84,000 jobs have been lost in the hospitality sector since the NICs hike took effect in April 2025 – equating to roughly 13,000 jobs disappearing per month since then.

Warren Buffett is heading for retirement after announcing he’ll hand over the reigns at Berkshire Hathaway.

Despite that his moves in the stock market still carry serious weight – as shown by the fact UnitedHealth shares rose 10 per cent once it became known Buffett’s firm had taken a stake worth $1.6bn (£1.1bn).

Buffett used to own a large holding in the organisation before selling in 2010; now he’s back with a far bigger stake after the share price had fallen by more than half this year.

Berkshire also continued to sell Apple shares, while also buying Chevron, Domino’s Pizza and Constellation Brands.

Fast fashion giant Shein has revealed its UK sales surged by almost a third last year ahead of plans to float the company.

Fresh accounts filed on Companies House also showed higher profits as its low-price products continued to attract growing popularity, particularly among younger shoppers.

It comes as the online retail group, which was founded in China and headquartered in Singapore, continues with efforts to secure a stock market IPO (initial public offering).

A first look at the markets this morning and we can see the FTSE 100 has shot upwards early on, a 0.3 per cent rise led by four miners up between 2 and 3.1% each: Antofagasta is the biggest climber, followed by Glencore, Anglo American, Rio Tinto.

In both Germany and France the main index is up by about 0.45 per cent as investors look to finish the week on a high.

Last night, US trading was totally flat, with the Dow, Nasdaq and S&P 500 all within 0.03 per cent either side of the zero line.

Good morning all – one final day this week for our business and live financial news coverage for you.

As usual, Friday is somewhat quieter in terms of company reports and the like – so we’ll delve more into the news which matters to your wallet, look ahead to next week and bring you everything that matters around UK firms.