Author: AbellMoney

Aston Martin has confirmed it will cut 20% of its workforce after annual losses widened sharply, as the luxury carmaker battles weak global demand and the impact of US trade tariffs.
The Gaydon-based manufacturer said net losses jumped 52% last year to £493.2m, while operating losses reached £259.2m. The company employs about 3,000 people globally, meaning around 600 roles are expected to go, with the majority of cuts understood to affect UK operations.
Aston Martin said the restructuring programme would generate annual savings of approximately £40m, with most of those savings realised during 2026. It did not provide a detailed timetable for the redundancies but confirmed that roles across the business, including factory positions, would be affected.
The carmaker blamed “extremely disruptive” US tariffs introduced under Donald Trump, as well as subdued demand in China, the world’s largest automotive market. The company has already warned that tariffs have significantly affected sales in the US, one of its key territories.
In a statement, Aston Martin said: “Having undertaken at the start of 2025 a process to make organisational adjustments to ensure the business was appropriately resourced for its future plans, we had to take the difficult decision at the end of 2025 to implement further changes. This latest programme will ultimately see the departure of up to 20% of our valued workforce.”
The job cuts form part of a broader effort to stabilise the company’s finances after years of volatility. Alongside the workforce reduction, Aston Martin has trimmed its five-year capital expenditure plan to £1.7bn, down from £2bn, by delaying investment in electric vehicle development.
The move signals a shift in strategy as the company prioritises short-term cash preservation over accelerated electrification. It comes amid a wider slowdown in EV demand across the luxury segment and mounting pressure on automakers from rising borrowing costs and trade uncertainty.
Aston Martin said it expects further cash outflows in 2026 but forecast a “material improvement” in financial performance, supported by the launch of its Valhalla hybrid supercar. Around 500 deliveries of the £850,000 model are expected to contribute to improved margins.
The company is targeting gross margins in the high 30% range and adjusted earnings before interest and taxes close to break-even.
In a separate effort to bolster its balance sheet, Aston Martin last week agreed a £50m deal to sell perpetual branding rights to its Formula One team.
Despite the cost-cutting measures and asset disposals, the company faces continued scrutiny from investors over its long-running turnaround plan, as it attempts to rebuild profitability in a turbulent global market.
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Aston Martin to cut 20% of workforce as annual losses widen

The future of The Fat Duck and other restaurants founded by Heston Blumenthal is in doubt after HM Revenue & Customs issued a winding-up petition against the chef’s parent company.
HMRC has moved against SL6 Ltd, which owns The Fat Duck in Bray, Berkshire, alongside the one-Michelin-starred The Hinds Head and several affiliated ventures. Around 130 staff are understood to be at risk should the petition proceed.
The action follows a further deterioration in the group’s finances. Accounts filed at Companies House show SL6 Ltd recorded a loss of £2.05m for the year to 2024, up from £1.39m the previous year, despite turnover of £8.9m.
Administrative expenses totalled £8.4m, including £2.3m in cost of sales, while staff costs rose to £4.07m, reflecting inflationary pressure and higher wage bills.
The company’s accounts reveal total debts of £2.7m, including £1.67m owed in taxation and social security and £5,417 in corporation tax. It also reported a bank overdraft of £806,091, more than the £697,605 held in cash, alongside several outstanding bank loans.
A strategic report signed by Ronald Lowenthal, who now controls SL6 Ltd after Blumenthal sold his stake in 2006, acknowledged a year of “tough economic conditions”, citing inflation across the supply chain, recruitment challenges and rising wage costs.
Lowenthal said the company had chosen not to pass the full burden of inflation on to customers, despite the impact on profitability. The Fat Duck’s signature 13-course tasting menu, “The Journey”, is currently priced at £350 per head.
Auditors Lawfords Consulting previously described the business as a “going concern”, noting management was seeking long-term funding to stabilise operations. However, HMRC’s decision to file a winding-up petition suggests negotiations may not have secured sufficient support.
A spokesperson for HMRC said it could not comment on individual cases but added that winding-up petitions are only filed after other recovery options have been exhausted.
The development comes at a difficult time for the UK hospitality sector, which has faced rising energy bills, food inflation and higher employment costs in recent years. Fine dining establishments have been particularly exposed to fluctuations in discretionary spending.
The timing is also notable given fresh political debate around the value of the hospitality sector. Comments this week from a senior government adviser suggesting Britain does not “need any more restaurants” have drawn criticism from industry figures already grappling with higher taxes and regulatory pressures.
Blumenthal, famed for inventive dishes such as snail porridge and “Sound of the Sea”, became one of Britain’s most recognisable chefs through The Fat Duck’s experimental cuisine and television appearances. The restaurant has long been regarded as a cornerstone of modern British gastronomy.
If the winding-up petition proceeds and the company cannot secure funding or reach a settlement with HMRC, the case could result in compulsory liquidation, placing one of Britain’s most celebrated culinary brands in jeopardy, however a spokesperson for SL6 Limited, has said: “This was an administrative oversight during our transition to a new accounting system, which we are working to resolve. Our restaurants are busier than ever, and there will be no impact on our operations. From our side, it is business as usual.”
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Heston Blumenthal’s restaurant empire under threat after HMRC winding-up petition

John Lewis Partnership has abandoned its build-to-rent housing ambitions, retreating from a high-profile property diversification strategy as the group pivots back towards its core retail business.
The employee-owned retailer confirmed it would withdraw from the rental housing scheme first championed by its former chair, Sharon White, who had sought to reduce reliance on retail by generating 40 per cent of profits from non-retail ventures by 2030. That target was later scrapped.
The build-to-rent initiative, launched in partnership with Aberdeen, aimed to deliver around 1,000 rental homes across sites in Ealing and Bromley in London and Reading in Berkshire. Aberdeen had pledged to raise £500m from institutional investors to fund the developments.
However, John Lewis said that the funds were never secured due to shifting macroeconomic conditions.
“Our rental property ambition was based on a very different financial environment: one with more stable investment returns, lower borrowing costs and more affordable construction costs,” a spokesman said. “The current climate, higher interest rates, inflationary pressures and a more cautious property market, means the model no longer meets our investment criteria.”
The decision marks a significant strategic reset under Jason Tarry (pictured), the former Tesco executive who became chair in 2024. Tarry has sought to restore the partnership’s focus on retail performance after several years of financial strain and cancelled staff bonuses.
The group is now pursuing an £800m investment programme aimed at revitalising its department stores, alongside a £1bn investment in its Waitrose estate of 320 shops. Recent initiatives include a high-profile partnership to bring Topshop concessions into John Lewis stores as it seeks to win back younger customers.
The build-to-rent strategy had originally been positioned as a way to unlock value from surplus Waitrose land and car parks while creating a more stable, long-term income stream less exposed to retail volatility.
However, the proposals were controversial from the outset. Local communities and planning authorities raised concerns over building heights, density and the proportion of affordable housing. Although several schemes ultimately secured planning approval, in some cases after appeals and intervention by government inspectors, the projects required significant upfront investment.
While John Lewis has not disclosed how much has been spent to date, it is understood that several million pounds were invested in design, planning and legal costs before the scheme was halted.
The withdrawal underlines the pressure facing retailers that diversified into property during the era of low interest rates. Higher borrowing costs have eroded returns on residential development, while construction inflation has increased project risk.
For John Lewis, the move signals a return to fundamentals after what some critics inside and outside the partnership viewed as a distraction from its core business.
With the cost-of-living crisis squeezing consumer spending and competition intensifying across both fashion and grocery, the partnership is betting that renewed focus on shopkeeping, rather than landlord ambitions, offers a clearer path to restoring profitability and rebuilding confidence among its employee-owners.
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John Lewis pulls plug on build-to-rent venture amid retail reset

Peter Mandelson was arrested at his Regent’s Park home amid concerns he posed a potential flight risk, according to his legal team.
The former cabinet minister and peer was detained on Monday afternoon on suspicion of misconduct in public office, following allegations that sensitive government documents were leaked while he was serving as business secretary under Gordon Brown.
Police questioned Mandelson for several hours before releasing him on bail in the early hours of Tuesday morning. As part of his bail conditions, he was required to surrender his passport.
His lawyers said officers had previously agreed to interview him on a voluntary basis next month but moved to arrest him following what they described as a “baseless suggestion” that he was planning to relocate abroad.
In a statement, a spokesperson for Mandelson said: “There is absolutely no truth whatsoever in any suggestion that he was intending to leave the country permanently. His overriding priority is to cooperate fully with the police investigation and to clear his name.”
Sources indicated that detectives from the Metropolitan Police Service acted after receiving new information over the weekend. Earlier this month, officers from the force’s Central Specialist Crime team executed search warrants at two properties linked to Mandelson and seized computers and documents for examination.
A source close to the investigation said the decision to arrest was taken for “clear operational reasons” after fresh intelligence came to light.
Mandelson has not been charged and denies any wrongdoing. The investigation remains ongoing.
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Lord Mandelson arrested amid concerns he was ‘flight risk’

A senior adviser to Rachel Reeves has drawn sharp criticism from the hospitality sector after saying Britain does not “need any more restaurants”.
Alex Depledge, appointed last year as the Government’s entrepreneurship adviser, argued that ministers should prioritise high-growth industries such as technology and advanced manufacturing rather than hospitality and retail.
Speaking to Insider Media, Depledge said: “We don’t need any more restaurants. I’m not anti-hospitality, but that’s not where my efforts are.” She added that the UK should focus on scaling sectors such as clean tech and creative industries to drive long-term economic growth.
Her remarks prompted an immediate backlash from publicans and restaurateurs already grappling with higher national insurance contributions and business rate reforms.
Sacha Lord, chairman of the Nighttime Industry Association and a former adviser to Manchester mayor Andy Burnham, said the comments deepened confusion about Labour’s stance towards hospitality. “Small and medium-sized businesses are the largest employers in the private sector,” he said, adding that the sector had been “blindsided” by recent tax changes.
TV chef Michel Roux Jr also criticised the remarks on social media, while pub campaigner Andy Lennox urged Depledge to reconsider what he described as “unwise words”.
Hospitality accounts for around 7 per cent of UK employment, with roughly 2.6 million people working in the sector, according to the Office for National Statistics. The number of restaurants fell 1.3 per cent in 2025 to 89,600, as operators faced rising costs and squeezed consumer spending.
Depledge, who founded property and software businesses including Resi UK and Good Lord, defended her focus on sectors capable of generating higher productivity and wages. She suggested that while small businesses remain vital, their overall contribution to the economy has remained broadly stable over decades.
The Chancellor has introduced targeted relief for pubs, including a temporary 15 per cent business rates discount, but restaurants and hotels have continued to press for broader support.
The episode underscores growing tension between Labour’s push to champion “future-facing” industries and the concerns of traditional sectors that remain major employers across the country.
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Reeves adviser sparks backlash after saying UK doesn’t ‘need any more restaurants’

In many organisations, portfolio is still viewed as a list of products and services – something to be expanded in the hope that more choice will unlock more opportunity. In reality, sustainable growth rarely comes from volume alone.
For high-performing businesses, a strategic portfolio is one that is deliberately designed around customer outcomes. It supports acquisition, strengthens retention and creates long-term value through clarity, consistency and service excellence.
In this blog I will be exploring how a focused, service-led portfolio can drive sustainable growth. Drawing on Chubb’s approach to connected services, cross-selling and long-term customer relationships, he explains why portfolio discipline is a critical leadership lever in today’s complex and regulated markets.
Portfolio as a Growth Strategy, Not a Catalogue
Across many sectors, portfolios grow reactively – shaped by short-term sales opportunities or competitor activity. Over time, this can create fragmented offerings that are difficult for customers to navigate and challenging for teams to deliver consistently.
In fire safety and security, where trust, reliability and compliance are paramount, this approach simply doesn’t work. Customers aren’t looking for disconnected products; they’re looking for partners who can manage risk holistically.
A strategic portfolio is therefore not about selling more things. It’s about offering the right combination of services, delivered in a way that supports both immediate needs and long-term resilience.
Portfolio as One of Chubb’s Three Ps
At Chubb, Portfolio sits alongside People and Process as one of our three strategic pillars, and it plays a central role in driving top-line growth.
Our portfolio strategy is built around:

Service and monitoring-led propositions
Multi-discipline contracts that simplify supplier management for customers
Connected services that provide insight, responsiveness and peace of mind

By leading with service, we create opportunities to capture greater share of customer spend while delivering more integrated, value-driven solutions. This approach supports both customer acquisition and retention – helping us build long-term relationships rather than transactional engagements.
However, implementing portfolio discipline is not without challenges. Internal resistance to change, legacy systems and market pressures can all pose obstacles. At Chubb, we address these by fostering a culture of continuous improvement, investing in staff training, and modernising our technology to support agile decision-making.
Connected Services and Cross-Selling with Purpose
Cross-selling is often misunderstood as simply adding more products to an account. At Chubb, it’s about identifying where additional services genuinely enhance protection, performance and compliance.
Connected services play a critical role here. By leveraging data, monitoring and integrated technologies, we’re able to:

Anticipate customer needs
Improve response and reliability
Strengthen ongoing engagement through service excellence

This creates natural opportunities to expand relationships in a way that feels relevant and valuable to customers – not forced or opportunistic. For example, one of our long-term customers faced evolving compliance requirements. By proactively offering a bundled solution that combined fire safety audits with ongoing monitoring, we not only met their immediate needs but also deepened our relationship and opened the door to additional services.
Retention Is Where Sustainable Growth Lives
While acquisition is important, long-term growth depends on retention. A well-curated portfolio makes it easier to retain customers by delivering consistent service, reducing complexity and reinforcing trust over time.
Multi-discipline contracts supported by connected services help customers see Chubb as a long-term partner, not a collection of suppliers. That loyalty is built through reliability, insight and the confidence that we’re continuously investing in their safety and resilience.
Lessons for Business Leaders
Business leaders should regularly review their portfolios, ensuring that each service or product contributes to sustainable growth. This means being willing to make tough decisions – retiring offerings that no longer serve the company or its customers and investing in those that do.
For leaders looking to refine their portfolios, consider these actionable steps:

Conduct regular portfolio reviews with cross-functional teams
Use customer feedback and data analytics to guide decisions
Develop a checklist to assess each offering’s alignment with strategic goals.

Portfolio with Purpose
At Chubb, we see portfolio as a growth engine – one powered by service excellence, commercial discipline and customer insight.
By focusing on connected services, cross-selling with intent and long-term retention, we’re building sustainable growth that benefits our customers, our people and our business.
Because when your portfolio is designed around customer outcomes, sustainable growth follows naturally – built on trust, clarity and long-term value.
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Building Sustainable Growth Through a Strategic Portfolio

As business leaders assess the most effective ways to remain competitive and in demand within a challenging marketplace, many set goals to secure certifications from the International Organization for Standardization. The ISO does not award these, but relies on external partners.
These entities conduct audits to verify that certification bodies have established management systems.
The Benefits of ISO Certification for Today’s Companies
Becoming an ISO-certified business has numerous associated advantages. Because this designation indicates that a company operates according to a globally recognized standard, it can increase trust among current and potential customers. The associated reputational boost may facilitate the organization moving into new markets, receiving industrial accolades, attracting highly qualified team members and more.
Businesses must periodically recertify after initially receiving their certifications and undergo annual surveillance audits. That keeps employees accountable, helping everyone stay motivated and recognize their roles within an organization. Preparing for accreditation also enables workers to see how their contributions connect to overarching goals.
Getting certified requires in-depth efforts to document and optimize company processes. The gradual, associated successes frequently elevate overall efficiency while pinpointing unnecessary steps. The outcomes maximize employees’ time while reducing accident and injury risks.
Business leaders who are ready to take the next steps understandably want to find the top-rated ISO certification provider and learn how they should proceed when inquiring about working with them. Discovering the leading options is an excellent starting point that can lead to detailed conversations between business representatives and service providers about the next steps.
1. NQA
As an ISO certification provider operating in over 90 countries, NQA is a top choice for clients who have international branches or hope to open some soon. Established in the United Kingdom in 1988, this brand has issued over 53,000 certificates to its worldwide client network. The company specializes in management systems certification for quality, information security, health and safety, and energy and the environment. That in-depth scope caters to business representatives in numerous industries.
The NQA team takes a pragmatic and supportive approach to assist clients in meeting the rigorous technical demands required for accredited certification. Besides assessing a client’s compliance with a selected standard, they identify improvement opportunities during each audit. If an organization needs to learn new technical skills before becoming certified, this business delivers online, classroom and in-house courses, helping participants gain new knowledge through various formats.
Prospective clients also benefit from competitive rates with no hidden fees. The available access to world-class technical support results in great value that makes practical advice accessible.
2. TopCertifier
A provider with a global presence and numerous local offices, TopCertifier has built a broad reach to assist modern businesses in receiving ISO certification. It offers a 100% satisfaction guarantee and free consultations that allow interested parties to learn about the process and decide whether to take the next steps. This company claims its approach can result in certification in as few as seven days, making it an attractive option for businesspeople who want to meet this goal quickly.
This brand’s team members provide guidance tailored to specific companies and industries. This approach recognizes the individual aspects that may shape a quality management system or other frameworks implemented to support certification. TopCertifier has worked with clients in over 50 countries, and it assists those seeking certification through more than 30 international standards, including those established by ISO and additional measures.
This company has assisted businesses of all sizes in achieving certification. It also helps clients identify improvement opportunities, enabling them to get continually stronger and more capable.
3. ASafe Global
With offices in the United States, Canada and Ireland, ASafe Global offers remote and on-site assistance for entities seeking ISO certifications. The expert team provides end-to-end support for businesses and numerous industries. They dispense professional guidance during every stage to help clients smoothly integrate quality frameworks into their organizations and work toward success. Interested parties can also fast-track the process, helping them stay on schedule and meet tight deadlines.
The consultants are ISO-certified professionals who bring years of experience to their interactions with company representatives. The comprehensive support reassures clients and indicates what they must change before getting successfully certified. This brand’s professionals also conduct free consultations to learn about individual business needs and answer specific questions.
This provider’s team takes a proactive approach, applying proven problem-solving methods to get customers closer to their goals. The company conducted 2,000 audits in 2024, illustrating its expertise. This shows why entities from around the world choose it to address ISO certification needs and embark on a path of developing and retaining valuable business practices.
4. Smithers
Offering decades of experience as an accredited, third-party ISO certification body, Smithers  partners in the success of individuals and businesses seeking these designations. This brand focuses on delivering outstanding customer service, with representatives aiming to acknowledge requests and take the necessary actions within hours rather than days or weeks. The company applies transparent pricing and quoting practices, ensuring potential and current customers understand what they will get for the money spent.
A convenient and secure client portal gives authorized users straightforward access to certificate copies, audit reports and webinar recordings. It also provides other information to support becoming certified and maintaining a designation. Besides offering numerous ISO certification services, this brand regularly conducts internal and supplier audits. It’s all part of its overarching goal to help customers strengthen their businesses by identifying weak points and prioritizing continuous improvement.
Since the company’s establishment in 1925 as a tire tester, it has operated as a data-driven organization, adapting a pioneering strategy for the time. This commitment makes its ISO offerings stand out because the associated insights inspire confident actions.
Working With the Top ISO Certification Providers
The top ISO certification providers offer extensive experience in supporting businesses of all sizes and types across various industries. These leading options also maintain transparency about the certification process, pricing and what customers must do to prepare.
Many give free consultations, creating opportunities for interested persons to identify current business challenges and the improvements they hope to experience by getting certified. This initial conversation gives participants chances to set or receive accurate expectations, laying the foundation for a strong and fruitful business relationship.
Knowing about the characteristics shared by the top ISO certification providers makes it easier for you to find reputable companies and create a list of possibilities. The next step is contacting them to get further details and learn what each company offers before choosing one to use while getting certified.
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What Are the Top ISO Certification Providers?

Brompton Bicycle has scaled back its US expansion and accelerated investment in China, as uncertainty over trade policy under Donald Trump reshapes its international strategy.
The London-founded folding bike specialist closed its branded stores in New York and Washington last year when their leases expired. In contrast, it opened a new outlet in Shenzhen and doubled the size of its flagship Shanghai store following a major refurbishment.
Will Butler-Adams, Brompton’s managing director, said the decision reflected concerns about policy unpredictability in the US. “We decided the leadership was so unpredictable, anything could happen,” he said, adding that tariff volatility made long-term commitments difficult.
“If the tariff goes up to 25 per cent and we become uncompetitive, the whole store proposition is at risk,” he said. “I’m not going to sign a five-year lease in this environment.”
His comments follow a US Supreme Court ruling that many of the tariffs introduced since 2024 were unlawful. However, the administration subsequently confirmed a temporary 10 per cent global tariff, later raised to 15 per cent, adding to market uncertainty.
Brompton, founded in 1976, operates a factory in west London producing tens of thousands of bicycles annually and is the UK’s largest bike manufacturer. Its compact folding bikes are popular among urban commuters worldwide.
While Butler-Adams stressed that the company would continue investing in the US, he said its approach would be more cautious and flexible.
China, by contrast, offers greater stability from Brompton’s perspective. The company has operated in the country for 17 years and now runs three owned stores alongside 14 franchise outlets. It also distributes through third-party retailers.
“It’s our largest market and we know where we stand,” Butler-Adams said, suggesting that warmer diplomatic ties between the UK and China could further enhance demand for British brands.
The shift underscores how global manufacturers are recalibrating supply chains and retail strategies in response to trade tensions, seeking predictability as much as growth in an increasingly volatile geopolitical landscape.
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Brompton shifts focus to China as US tariff turmoil dents confidence

Lamborghini has abandoned plans to launch a fully electric model, shelving its much-anticipated Lanzador in favour of expanding its plug-in hybrid line-up.
Chief executive Stephan Winkelmann said demand for battery-powered supercars among the brand’s wealthy clientele was “close to zero”, warning that continued investment in EV development risked becoming “an expensive hobby”.
The Lanzador, unveiled as an all-electric concept in 2023, was expected to form Lamborghini’s fourth EV project. Instead, it will now be replaced by a plug-in hybrid electric vehicle (PHEV), meaning the company’s entire range will be hybrid by 2030.
Winkelmann said Lamborghini would continue producing internal combustion engines “for as long as possible”, arguing that customers value the “emotional experience” of the brand’s cars — from design and performance to the distinctive engine sound.
“EVs, in their current form, struggle to deliver this emotional connection,” he said.
Lamborghini, owned by Audi and part of the Volkswagen Group, delivered a record 10,747 vehicles in 2025, marking its second consecutive year above 10,000 units.
Its current range, including the Urus SUV, Temerario sports car and Revuelto supercar, is already fully PHEV. The Urus, accounting for around 60 per cent of total sales, remains the backbone of the business.
While Europe and the Middle East remain strong markets, deliveries in the Americas declined nearly 10 per cent last year.
Winkelmann said the decision to cancel the Lanzador followed more than a year of discussions with dealers and customers. “Investing heavily in full EV development when the market and customer base are not ready would be financially irresponsible,” he said.
Lamborghini’s move reflects broader challenges facing carmakers in the transition to electric vehicles. Lower-than-expected consumer demand and rising development costs have led several manufacturers to scale back EV ambitions.
Stellantis recently announced significant write-downs linked to electric programmes, while Ford Motor Company and General Motors have also disclosed multibillion-dollar charges.
However, not all luxury brands are retreating. Rolls-Royce’s Spectre EV has emerged as one of its most popular models, suggesting electric adoption varies significantly by segment.
In the UK, petrol and diesel car sales are due to end by 2030, while the EU plans a 2035 phase-out of most new combustion engine vehicles. As a low-volume manufacturer, Lamborghini currently benefits from exemptions under emissions rules and intends to seek extensions beyond 2035.
Winkelmann noted that Lamborghini vehicles typically cover relatively low annual mileage, less than 2,000 miles for supercars, limiting their environmental footprint.
“Never say never,” he said of a future EV. “But only when the time is right.”
For now, the Italian marque is betting that hybrid technology offers the best balance between regulatory compliance and preserving the visceral appeal that underpins its brand.
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Lamborghini scraps electric supercar plans and doubles down on hybrids