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British manufacturers have urged the government to ensure that small and medium-sized businesses are major beneficiaries of the UK’s rising defence spending by embedding legally binding offset agreements in future military procurement contracts.
Ahead of the release of the government’s revised Defence Industrial Strategy, MakeUK Defence — the trade body representing more than 600 UK defence manufacturers — is calling for foreign contractors to be required to reinvest the vast majority of their contract value back into the British economy.
Offset agreements, which are already commonplace in over 50 developed countries, compel foreign companies that secure military contracts to invest a portion of the contract value locally — either directly in defence-related production, or indirectly in the wider economy. Advocates say such agreements can create thousands of high-skilled jobs and help to secure a sustainable domestic industrial base.
“Securing inward investment in defence deals should be a pillar of the government’s growth agenda,” said Andrew Kinniburgh, director-general of MakeUK Defence. “British SMEs have huge capabilities and the MoD must harness that so they too benefit from defence contracts with overseas companies.”
The UK’s current approach to offset is largely informal, with no formal obligation or enforcement mechanism in place. MakeUK Defence is calling for this to change, arguing that Britain is falling behind international rivals in securing industrial benefits from defence procurement.
As part of its recommendations, MakeUK is calling for a legally binding requirement that foreign firms winning MoD contracts reinvest between 75 per cent and 90 per cent of the economic value of those contracts into the UK over a ten-year period. This could include establishing or expanding manufacturing sites, investing in supply chains, or supporting technology transfer and training.
Such a policy, the group argues, would be particularly valuable for the UK’s network of small and mid-sized defence manufacturers, as well as adjacent industries such as automotive, aerospace, and oil and gas, which possess relevant capabilities but currently struggle to access defence supply chains.
The proposal also includes a call for regional prioritisation to support the government’s levelling-up agenda. Kinniburgh said offset investment could be “harnessed to bolster a regional growth strategy,” with a focus on historically under-supported areas such as the northeast and West Midlands.
Currently, small and medium-sized firms receive only 25 per cent of the UK’s annual defence spending, according to Ministry of Defence figures — just 4 per cent directly from the MoD and 21 per cent indirectly via prime contractors.
In contrast, countries such as Poland and the Gulf states have leveraged offset agreements to secure long-term inward investment, military training, and advanced technology transfer as part of major purchases of fighter jets, missile systems, and other equipment.
The call for change echoes recent comments from Prime Minister Sir Keir Starmer, who told the London Defence Conference that it was time to “seize the defence dividend” and ensure that military investment was “felt directly in the pockets of working people”.
While the UK has pledged to increase defence spending from 2.3 per cent to 2.5 per cent of GDP by 2027 — and potentially to 3 per cent in the next Parliament — industry leaders say that without targeted industrial policy, much of that increase risks flowing abroad.
MakeUK’s proposals would represent a significant shift in UK procurement strategy, bringing it in line with international norms and offering a potential boost to Britain’s high-tech manufacturing base.
“The UK needs to stop viewing defence spending as an isolated cost and start treating it as a long-term investment in industrial capability, regional regeneration and national security,” Kinniburgh added. “A robust, enforceable offset policy is one of the simplest and most effective ways to achieve that.”
Read more:
UK manufacturers urge MoD to channel defence spending to SMEs through binding offset deals

In a digital-first world where automation rules and inboxes are jammed with pitches, one company has quietly taken the opposite route — and succeeded.
OLN Inc, founded by Elijah Medge in 2007, runs on something older than the internet: face-to-face interaction. With its roots in Nashville and its reach now across 30 U.S. cities, OLN Inc specializes in direct sales for some of the world’s biggest brands. Think Amazon, Verizon, Staples, and T-Mobile. But what makes this company unique isn’t just its client list — it’s how they reach people.
“We go where the ads can’t,” says Medge. “There’s something powerful about showing up in person — not selling to a screen, but to a human being.”
The Unseen Advantage
OLN Inc, which stands for Outsourced Licensee Network, helps large corporations connect with hard-to-reach small business customers. Instead of bombarding people with ads or cold calls, OLN Inc reps knock on doors, start real conversations, and build trust face-to-face.
It’s not always glamorous. It requires resilience and grit. But it works.
“Mass emails get deleted. Flyers get tossed. We show up, we listen, we connect,” Medge explains. “That’s what makes the difference.”
Their focus is on practical, everyday services — telecom, business utilities, office supplies. Services small businesses need, but rarely have time to shop for. OLN Inc offers a bridge between those businesses and the Fortune 500 giants that serve them.
Starting with Nothing but an Idea
Elijah Medge started OLN Inc with little more than a drive to prove himself. As a young immigrant to the U.S., he wasn’t handed an opportunity — he built it.
“I didn’t have a clear blueprint,” he recalls. “But I had a belief that people are the best investment.”
At first, Medge did everything — recruiting, training, selling. He didn’t wait for perfect conditions. He moved fast, made mistakes, and learned on the go. Over time, his approach shaped a company culture built on initiative and constant movement.
“Standing still just isn’t part of our rhythm,” he says.
Training Ground for Leaders
Unlike many companies where advancement depends on seniority or politics, OLN Inc uses a different formula: you rise if you perform.
Employees begin with the basics — learning how to sell, communicate, and work under pressure. But the real goal is leadership. OLN Inc develops its top performers to lead their own operations, often providing the resources to help them launch their first brand. “We’re not here to hand out titles,” Medge says. “We’re here to give people the chance to earn real responsibility — and to own something.”
Ownership isn’t just a buzzword at OLN Inc. It’s built into the business model. Those who prove themselves are given the tools, support, and even capital to launch their own office. The network grows this way — branch by branch, leader by leader.
Surviving a Shutdown
In 2020, the pandemic hit OLN Inc’s model hard. The company’s core — outside sales — was no longer possible.
“We’d never done remote work. It was a foreign concept,” Medge says. “But we couldn’t just wait it out.”
The company pivoted quickly, partnering with Amazon to launch an inside sales program — a new track for the business. In an uncertain moment, OLN Inc avoided layoffs and created a new lane for growth.
“We proved to ourselves that flexibility wasn’t just helpful — it was necessary,” he says.
That experience changed the company’s mindset. What had once been a boots-on-the-ground-only culture now embraced hybrid strategies.
Playing the Long Game
Every year, Medge sets a long-term revenue goal — what he calls a “big, hairy, audacious goal.” But the real work, he says, is in deciding who to bet on.
“I spend more time thinking about people than numbers,” he shares. “Each quarter, I ask: Who’s ready for the next level? Who’s been showing signs of leadership?”
He believes in guiding from behind — letting his team lead while he supports them with insight, structure, and belief.
That people-first philosophy goes deeper than most companies. OLN Inc isn’t just a stepping stone. For many, it’s a launchpad.
“Some of our leaders never thought they’d run anything,” Medge says. “Now they’re mentoring others, opening offices, building teams of their own.”
Not Flashy, Just Focused
There’s no corporate buzz, no viral campaigns. OLN Inc doesn’t chase hype. It keeps its head down and its standards high.
The culture is deeply competitive, but also patient. Success takes time. Development is intentional.
“You don’t become great by rushing,” Medge notes. “You become great by getting better every day — by being in the game, learning as you go.”
That’s the heartbeat of OLN Inc. A company that values experience over noise. A company that sees people not as resources, but as potential.
Lessons from the Field
Looking back, Medge doesn’t point to one defining moment of success. For him, it’s the quiet wins — the reps who gain confidence, the managers who find their voice, the teams that learn to trust each other.
“Progress isn’t loud,” he says. “It’s steady. You might not see it right away, but it compounds.”
He tells his team to keep asking questions. To stay curious. To outgrow yesterday’s version of themselves.
“Knowledge doesn’t age,” he says. “You either build on it or you ignore it. We choose to build.”
The Road Ahead
As OLN Inc grows into new markets and tests new models, its mission stays the same: connect humans to humans, and do it well.
It’s not reinventing technology or riding trends. It’s sticking to a timeless idea — that real connection still matters.
In a world that often celebrates speed and scale, OLN Inc reminds us that growth doesn’t have to be noisy. It can be grounded, steady, and deeply human.
And sometimes, showing up in person is still the most powerful strategy of all.
Read more:
How OLN Inc Built a Sales Army One Door at a Time

Britain’s steelmakers are bracing for a sharp escalation in trade tensions after the United States signalled it will double import tariffs on UK steel to 50% from Wednesday — despite a recent transatlantic deal to remove such duties.
The expected hike replaces the 25% tariff President Trump imposed on foreign steel earlier this year, which officially came into force on 12 March. Although the Prime Minister announced on 8 May that a breakthrough deal had been reached with the US to eliminate the steel levy, that agreement has yet to be finalised — leaving UK steel exports in limbo.
UK Steel, the industry’s trade body, warned that unless urgent clarity is provided, all UK steelmakers exporting to the US could be hit by the punishing new tax within days. The US is Britain’s second-largest steel export market, worth approximately £400 million annually and accounting for 9% of total exports by value.
Gareth Stace, Director-General of UK Steel, described the move as “yet another body blow” to an industry already struggling with global price volatility and rising production costs.
“UK steel companies are this morning fearful that orders will now be cancelled, some of which are likely being shipped across the Atlantic as we speak,” he said.
Stace warned that the “doubling of tariffs plunges the UK steel industry further into confusion”, noting that the long-promised resolution between the two governments has yet to materialise. “Uncertainty remains as to whether and when our second-biggest export market will be open for business or is being firmly shut in our faces.”
The 50% tariff forms part of a wider escalation in US protectionism under President Trump, who has imposed sweeping duties on steel, aluminium and other imports from countries running trade surpluses with America. Although a temporary 90-day pause on reciprocal tariffs was announced earlier this month, the UK appears to have fallen into a regulatory gap as officials scramble to implement the terms of the UK-US accord.
Stace urged the UK government to act decisively and finalise the deal before the new tariffs take hold.
“UK Steel is now pressing our government to eliminate UK steel import tax and for it to come into effect urgently. UK steelmakers should not have to shell out for this new steep hike in US steel tariffs. All we want is to continue producing the steel our US customers value so highly.”
Industry leaders fear that unless the agreement is swiftly ratified, UK producers could face cancelled contracts, lost market share and long-term damage to their trade relationships with US buyers.
The Department for Business and Trade has not yet commented on the latest developments.
Read more:
UK steel industry faces fresh crisis as US tariff jumps to 50%

UK business confidence surged in May to its highest level since last August, according to new data from Lloyds Bank, driven by a sharp rebound in global financial markets and a softening in trade tensions between the US and its partners.
The Lloyds Bank business barometer rose by 11 points to 50 per cent, up from 39 per cent in April, more than reversing the dip seen last month. The reading is now at its strongest since the summer of 2024.
The lender said the sharp increase in confidence reflects improving sentiment in global markets after US President Donald Trump paused his threatened “reciprocal tariffs” until July. That decision – followed by a US court ruling this week declaring the tariffs illegal – fuelled optimism across Asian, European and American stock exchanges, as investors reassessed the outlook for global growth.
“The rebound in business confidence suggests that firms might be in a stronger position for the next quarter,” said Hann-Ju Ho, senior economist at Lloyds Commercial Banking. “The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid the easing of global trade tensions.”
The survey, based on responses from 1,200 firms, also found improvements in trading prospects and hiring intentions. A third of businesses said they plan to award pay rises of 3 per cent or more, while 65 per cent reported intentions to increase prices in the year ahead – down five points from April. Only 2 per cent said they would cut prices.
The data comes amid a mixed inflation picture. UK inflation rose to 3.5 per cent in April, the highest since January 2024, up from 2.6 per cent the month before. However, stronger-than-expected economic growth is helping to support business sentiment. GDP expanded by 0.7 per cent in the first quarter of 2025, and this week the International Monetary Fund marginally upgraded its full-year UK growth forecast to 1.2 per cent.
The Lloyds report adds to signs that the UK economy is showing resilience, even as concerns linger over inflation, rising wage demands and the future of global trade policy.
Despite uncertainties ahead, the strong rebound in confidence points to a more optimistic outlook among British firms heading into the second half of the year.
Read more:
UK business confidence jumps to nine-month high as trade tensions ease

Celebrity interior designer Celia Sawyer has accused Netflix of copying her idea for an erotic home makeover show, claiming the streaming giant’s How to Build a Sex Room mimics a concept she previously pitched — and was told would be “deleted”.
Sawyer, best known for Channel 4’s Four Rooms and frequently dubbed the “Queen of bling” for her lavish designs, alleges that her proposal for a series titled Kinky Rooms was sent to Netflix — only for a near-identical format to appear a year later.
“It was exactly the same idea, exactly the same format,” the 58-year-old tells The Daily Mail. “They said they were going to delete it, and then a year later it popped up as a Netflix show.”
Sawyer says her pitch included a proposed episode about designing a space for a polyamorous couple — which she notes was replicated in the Netflix series, with an episode focused on creating “a swanky dungeon” for a polyamorous family. Other episodes in the eight-part US series included a “rock ’n’ roll sex basement” and a “five-star spa” themed retreat for couples.
“You put a lot of work into this stuff and then that happens,” says Sawyer. “I was really upset. It was awful.”
Sawyer, who runs a luxury design studio in Mayfair and has fitted out everything from yachts to private jets — including a 24-carat gold and platinum bath — says she contacted Netflix after the show aired, only to receive a formal legal letter denying any connection.
“They sent a stroppy legal letter from their lawyer telling me they didn’t take the idea,” she recalls.
While Netflix has declined to comment, Sawyer’s frustration reflects wider tensions in the entertainment industry over the protection of intellectual property and the difficulties individuals face when pitching to large studios.
Sawyer, who left school at 15 and built a career designing for ultra-high-net-worth clients, now splits her time between her home in Barbados and a £4 million property in Sandbanks, Dorset, which she shares with her husband Nick, a food commercials director. The couple recently became embroiled in a separate dispute with a neighbour over privacy concerns after a neighbouring renovation overlooked their garden.
Read more:
Netflix accused of copying show idea by ‘Queen of bling’ Celia Sawyer

Reform UK has become the first political party in Britain to accept bitcoin and other cryptocurrency donations, Nigel Farage announced during a high-profile appearance at the Bitcoin Conference in Las Vegas.
Farage told the audience that Reform UK had updated its website to accept crypto donations from eligible UK donors, marking what he called an “innovative” step for British politics. “My message to the British public, and particularly to young people, is to help us to help you bring our country properly into the 21st century,” he said. “Let’s recognise that crypto and digital assets are here to stay.”
The former UKIP and Brexit Party leader used the speech to unveil his party’s planned Cryptoassets and Digital Finance Bill, which includes a pledge to slash capital gains tax on cryptoassets from 24% to 10%. He also proposed creating a bitcoin digital reserve within the Bank of England and promised legal protections for users of cryptocurrency by making it illegal for banks to “debank” individuals who trade or hold crypto.
Farage told the conference—where he was introduced as a “UK presidential candidate”—that he wanted to make the UK a “crypto powerhouse”. He contrasted his party’s ambitions with what he described as inaction from both the current Labour government and the previous Conservative administration.
“Rishi Sunak, when he was briefly prime minister, made one speech about crypto and how London used to be a global financial centre. One speech and nothing else,” said Farage. “Labour? Well, we have 25 men and women in cabinet and not a single one of them has worked in private business.”
The Reform UK website was updated on Thursday to include a cryptocurrency donation page, with a disclaimer noting that all contributions must comply with Electoral Commission rules—meaning anonymous donations are not allowed.
A party spokesperson confirmed the move and said further details about how cryptocurrency donations would be processed were expected to be released on Friday.
Farage’s announcement signals a significant shift in UK political fundraising and policy, with Reform UK positioning itself as the most crypto-friendly political force in the country. It also comes as global interest in blockchain-based finance continues to grow, amid both enthusiasm from investors and regulatory uncertainty from governments.
Unlike traditional UK political parties structured as membership organisations, Reform UK is registered as a private company—Reform 2025 Ltd, a not-for-profit entity jointly controlled by Farage and director Zia Yusuf. This structure gives Farage sweeping influence over the party’s direction and funding.
With polls showing increasing support for Farage’s party in some constituencies and a general election expected within the next 18 months, the move could mark the beginning of cryptocurrency playing a more prominent role in British political discourse.
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Reform UK becomes first British political party to accept Bitcoin donations, says Farage

NavLive, which has newly developed an AI-powered, handheld scanning tool offering architects and construction professionals the ability to create high precision building site scans in real time, launches today with £3.3m in Seed funding.
The round was led by deep tech investor OSE, with participation from SOSV, Oxford Capital Partners, Clearance Venture Partners, AE Works, Britbots, Oxford Innovation Finance, as well as a c. £700K grant from Innovate UK awarded last year.
Developed by academics in robotics research at the University of Oxford, NavLive‘s cutting edge handheld LiDAR scanner combined with edge AI processing, allows users to scan all buildings, generating precise site drawings in real time.
NavLive’s scanner helps architects, developers, and construction firms capture highly detailed, accurate building site drawings with instant 2D/3D building models, RICS-grade 1:100 surveys, and direct Scan-to-BIM integration. This eliminates the need for third party surveyors, and integrates with all leading architecture software.
The team has grown to 15 and operates out of offices in London and Oxford. CEO Chris Davison is a seasoned entrepreneur who previously founded one of Southeast Asia’s largest challenger banks and brings extensive experience in venture capital and company scaling. CTO Dr. David Wisth has a PhD in Computer Vision, SLAM, Robotics and is a leading expert in 3D mapping and artificial intelligence, and COO and CFO Vikram Negi is a veteran finance executive with a strong track record of building and scaling venture-backed companies across Europe and Southeast Asia.
NavLive has been used extensively across major construction projects by leading AEC firms, including Jacobs, AtkinsRealis and Mace. NavLive has also been deployed for both nuclear and defense applications, including with the UK Atomic Energy Authority.
Chris Davison, CEO, NavLive said “For too long architects, engineers and construction professionals have been stuck with complex, slow, expensive, and error-prone surveys. Our AI-powered scanning solution delivers real-time, high-fidelity 2D and 3D scans that no other product on the market can match. We are building the underlying record of truth for spatial data across the entire lifecycle of a building, transforming how the AEC industry works.”
Read more:
AI architecture scale-up NavLive scoops £4m of funding to transform construction industry

Katana, supported by its native token KAT, is engineered to deliver an optimized DeFi experience, offering exceptional liquidity across protocols such as Morpho (lending), Sushi (spot DEX), and Vertex (perpetuals DEX).
Drawing from five different sources of yield, Katana is set to introduce a new DeFi paradigm for risk-takers, whales, and institutions, alongside strategic partners like Conduit, Chainlink, and Blockworks.
May 28, 2025 — The Katana Foundation, a nonprofit organization committed to building the best DeFi experience for users of all types, has announced the launch of Katana’s private mainnet, a blockchain tailored to decentralized finance, designed to enhance asset productivity through consistently higher yields and significantly deeper liquidity.
Unlike the typical fragmented DeFi landscape, Katana concentrates liquidity into selected protocols and aggregates yield from all available sources to power a self-sustaining system with long-term growth in mind. Starting today, pre-deposits are live, giving users a chance to earn KAT by participating early. The public mainnet is expected to launch in June.
Developed with early-stage support from GSR and Polygon Labs, Katana is entering the scene with several key partners:

Conduit, a leading rollup platform managing over $4 billion in TVL across hosted chains.
Chainlink, the most widely adopted decentralized oracle network, which powers DeFi operations with secure and reliable data feeds.
Blockworks, a premier crypto media and data firm, contributing ecosystem content and in-depth analytics.

A Complete and Optimized DeFi Experience for Everyone
Katana was created with all user profiles in mind. In a world where DeFi users dominate on-chain activity, Katana enables them to earn higher returns and interact with DeFi building blocks in a highly optimized yield-driven environment.
Purpose-built for users seeking yield opportunities, Katana unlocks latent asset value through a unified ecosystem that makes every token work harder, offering stronger and more consistent returns than other platforms.
Built with Institutions in Mind
As the DeFi space matures, institutional interest will keep growing. Yet, structural challenges remain: fragmented liquidity and ongoing value leakage hinder efficiency. Katana has been crafted to address these issues by securing deep, concentrated liquidity, minimizing slippage, and stabilizing borrowing and lending rates.
Supported by Industry Titans

GSR will provide liquidity management and cross-chain support while incubating new DeFi protocols through its venture division.
Polygon Labs played a key role during Katana’s early development, offering technical guidance and strategic direction as part of its Agglayer Breakout program.

“We’re proud to collaborate on Katana. Our involvement reflects GSR’s increasing commitment to incubating and advising DeFi ecosystems,” said Jakob Palmstierna, President of GSR.
“Beyond providing capital, we help build accessible and sustainable platforms. Katana allows us to apply our market expertise to activate real yield and concentrated liquidity.”
Marc Boiron, CEO of Polygon Labs, added:  “DeFi users deserve networks that prioritize sustainable liquidity and dependable returns. Katana transforms inefficiencies into strengths, creating a fertile and rewarding environment for builders and users alike.”
A Secure Architecture Powered by ZK Technology
Katana is built on cdk-opgeth, a custom stack based on OP Stack, connected to Agglayer and enhanced with zero-knowledge (ZK) proofs to boost security. This gives developers access to familiar tools, while users benefit from fast confirmations and cryptographic guarantees.
The ZK proofs are generated by Succinct’s SP1, a production-grade zkVM using Polygon’s Plonky3 proving system. The network is operated with support from Conduit, leveraging its powerful G2 Sequencer.
A Liquidity-First DeFi Ecosystem
Katana centralizes liquidity within a curated set of leading DeFi protocols, providing users with:

Enhanced capital efficiency
Significantly reduced slippage
More favorable rates

Core protocols within the Katana ecosystem include:

Morpho for optimized lending and borrowing
Sushi for deep spot liquidity and trading aggregation
Vertex for capital-efficient perpetual trading

On top of this foundation, hundreds or even thousands of new applications can be built, all benefiting from the existing depth of liquidity.
Liquidity is also consolidated across functionally similar assets, such as stablecoins, BTC, and ETH:

Agora for issuing AUSD, the network’s native stablecoin
Lombard for LBTC, a liquid, yield-bearing version of BTC
Ether.Fi for weETH, a wrapped ETH variant that provides staking and restaking rewards
BitVault for institutional-grade BTC-backed money

To allow trading of non-native blue-chip assets like XRP, SOL, or SUI, Universal will bridge them into Katana, along with their staked, yield-bearing versions. This way, users can trade these assets within the Katana ecosystem and gain higher returns than they would on their native chains, while executing strategies like looping, arbitrage, and yield farming.
Sustainably Higher Yield, Engineered for Performance
Katana is built to tackle the toughest DeFi challenges using five performance-focused pillars:
1. VaultBridge
Bridged assets (ETH, WBTC, USDC, USDT) earn yield from Ethereum and compound it again on Katana.
Everyone wins.
2. Network Fees
Fees and a portion of app revenue are reinvested back into the ecosystem, to incentivize users, deepen liquidity, and fund growth.
Everyone wins.
3. AUSD Revenue
AUSD, supported by institutions like VanEck and State Street, shares its earnings with the network instead of hoarding them like traditional stablecoins.
Everyone wins.
4. Core App Emissions
Core apps dedicate their native tokens to reward users, increasing yields and boosting loyalty.
Everyone wins.
5. KAT Emissions
KAT holders will govern how emissions are distributed across DeFi pools, aligning long-term incentives with real usage.
Everyone wins.
Scalability Driven by Participation

The more bridged assets, the higher the yield.
The more AUSD deposited, the more rewards for users.
The more sequencer activity, the greater the returns.

Katana grows with its users. It’s designed to scale sustainably and keep liquidity steady over time. Chain-owned revenue and protocol earnings are continually reinvested in the ecosystem, reducing reliance on short-term incentives.
This model builds long-term stability and serves as a shock absorber during times of volatility. Core apps aren’t operating in isolation, they’re actively contributing to Katana’s overall resilience.
Everyone wins.
Active, Productive TVL That Drives Value
On Katana, TVL is never idle. All assets are actively deployed into lending, trading, and yield strategies that maximize capital efficiency and generate returns for both apps and users.
Unlike chains that chase inflated metrics with inactive capital, Katana makes every token productive. Apps benefit from this economic activity, using it to reinvest in improving user experience.
Everyone wins.
KAT: Ownership, Incentives, and Growth in Harmony
The Katana Foundation also unveils KAT, its native token designed to align users with network development.
Built on a vote-escrow (ve) model, users can receive KAT via lootbox rewards after pre-depositing ETH, USDC, USDT, or WBTC. After a maximum lock-up of 9 months (or sooner if unlocked by the foundation), holders can convert their tokens into veKAT, gaining voting rights over emissions allocation.
KAT is more than governance, it channels emissions toward productive TVL and deeper chain-owned liquidity, reinforcing long-term value creation over short-term speculation.
Private Mainnet Now Available
Katana’s private mainnet is officially live. Developers and early users can now begin exploring its foundational applications.
Visit katana.network to get started.
Read more:
Bitcoin and Ethereum can work for you: here’s how the Katana ecosystem makes it happen

Britain’s car industry suffered its worst April in over 70 years, with new figures revealing a sharp fall in vehicle production that underscores deepening challenges facing the sector.
Data from the Society of Motor Manufacturers and Traders (SMMT) showed that UK car output fell by 8.9 per cent last month, with only 56,500 vehicles rolling off production lines — the worst April since 1952, excluding the shutdowns during the Covid pandemic. Meanwhile, commercial vehicle output collapsed by a staggering 68 per cent year-on-year, down from 8,500 to just 2,600 vans.
The figures cap off the worst start to the year for the British automotive sector since the global financial crisis of 2009. In the first four months of 2025, UK car production has dropped more than 4 per cent to 284,000 units, while commercial vehicle output is down 35 per cent, with van exports plummeting 75 per cent.
The SMMT attributed the slump to a combination of factors, including the late Easter holidays disrupting supply chains, the closure of Stellantis’s Luton plant — which previously built Vauxhall vans — and wider uncertainty linked to President Trump’s escalating trade war with China and the European Union.
With UK factories currently producing vehicles at an annualised rate of just 767,000 — fewer than at points during the pandemic — the sector is now operating at barely half of its pre-Covid levels. That includes major plants building brands such as Nissan, Mini, Toyota, Rolls-Royce, Bentley and Range Rover, all of which reported lower output in April.
Mike Hawes, SMMT chief executive, said the data should serve as a “wake-up call” for ministers. “With automotive manufacturing experiencing its toughest start to the year since 2009, urgent action is needed to boost domestic demand and our international competitiveness,” he warned.
He acknowledged recent trade breakthroughs — including improved terms with the EU, US and India — but said long-term success would depend on greater investment support and policy certainty. “To take advantage of these trading opportunities, we must secure additional investment, which will depend on the competitiveness and confidence that can be provided by a comprehensive and innovative long-term industrial strategy.”
The collapse in commercial vehicle production was largely driven by the decision by Stellantis to consolidate operations at Ellesmere Port, focusing on smaller electric models. The transition, while aimed at supporting the UK’s EV future, has left a production vacuum in the short term. It follows a broader industry trend as manufacturers race to retool facilities for zero-emission vehicle production ahead of incoming regulations and shifting market demand.
Hawes stressed that without a joined-up strategy to attract investment and stimulate EV demand, the UK risks falling behind global rivals. “Get this right and the jobs, economic growth and decarbonisation will flow across the UK.”
As the sector navigates the complex challenge of electrification, trade volatility and rising input costs, many manufacturers are warning that without government support and clear direction, the current downturn could become entrenched.
Read more:
UK car production slumps to lowest April levels since 1952 amid van factory closure and global trade turmoil