Business & Tech
The latest stories from independent business & tech media.
FCA warns wealth managers over fees, financial crime and AI risks
The FCA has warned wealth managers to strengthen standards around fees, fair value and financial crime controls, while managing the risks associated with growing AI adoption across the sector.
Harvey Nichols pauses online operations amid Frasers takeover
Harvey Nichols has temporarily paused online trading as it transitions to new ownership under Frasers Group. The luxury department store’s website has been replaced with a holding message confirming that Harvey Nichols is “currently unavailable online”, while it completes a…
Advisers call for ‘wrapper reset’ as tax changes complicate planning
Tax changes are forcing advisers to rethink how they use tax wrappers, with 88% saying wrapper decisions have become more complex over the past three years. The findings, from research commissioned by AJ Bell and conducted by Ad Lucem, also show strong demand for practical
Universities aren’t set up for commercialisation – Anne Lane, CEO, UCL Ventures
This week’s podcast guest is Dr Anne Lane, chief executive officer of UCL Ventures, who discusses why commercialising research at British universities remains a challenge despite significant will and the enormous impact of spending money on cutting-edge research.
Scottish AI Growth Zone lands £300m infrastructure backing
The Scottish AI Growth Zone, based in Lanarkshire, has secured a £300m infrastructure financing package backed by the National Wealth Fund, and will be further bolstered by the opening of Dell Technologies new Scottish headquarters at the site.
AI models get convenient amnesia about source material as they grow, MIT boffins find
Attributing diffusion model output to a specific input becomes more difficult with more training data
UK's tech talent pipeline shrinks as overseas worker visa applications fall 7%
Third consecutive annual decline adds to concerns about shortages of specialist skills
Ben Lester: Is MPS helping you scale, or just hindering growth?
MPS promises efficiency, but frictions can emerge quickly when confronted with taxable accounts, clunky platform workarounds and admin-heavy processes that can eat away at an advice firm’s capacity.
Bodycare plots Derby return with second next-gen Studio Store
Bodycare is set to return to Derby this weekend with the opening of its latest next-generation ‘Studio Store’ at Derbion. It will open the doors to its new store on Saturday 22 August, marking its first Studio Store in the East Midlands and the second of the new format nationwide…
AI hype slows as firms confront cost and scalability challenges
The initial enthusiasm around artificial intelligence among financial advice firms has begun to cool as businesses confront the cost and practical challenges of deploying the technology at scale.
Google buys crashed airline Spirit’s data at auction, because AI
$10 million buys over 100 million emails, 30 million recorded phone calls, reams of stuff from Teams, Oracle, and SAP
Microsoft MVP creates site to remind you of all the brands Redmond replaced
If you’re still talking about ‘DirSync’ or ‘Active Directory’ instead of ‘Entra’, and need to explain why, this is the site for you
Payments giant Stripe is about to drop over $7 billion to become a gateway to AI token sales
AI gateways look promising as companies struggle with model orchestration
Would I lie to you? ANZ warns of troubling ‘scam-coaching’ trend
ANZ is warning customers about a troubling rise in 'scam‑coaching' – a tactic where criminals train victims to bypass bank security by giving them scripts, cover stories, and instructions on how to respond to bank staff.
Xen Project gets serious about safety in push to possibly partition robot brains
Boeing quietly joins FOSS hypervisor crew, as AMD and Renesas lead new effort to comply with formal standards
The Morning Briefing: FCA warns wealth managers; AI hype cools as cost and scale challenges grow
Good morning and welcome to your Morning Briefing for Tuesday 18 August 2026. To get this in your inbox every morning
Stripe agrees $7bn takeover of AI firm OpenRouter - Bloomberg
Payments giant Stripe has struck a $7 billion deal to acquire AI gateway keeper OpenRouter, according to Bloomberg.
Almost nobody pays attention to web standards anymore
Screen readers suffer as nearly 90% of top websites tested contain HTML spec violations
Bugaboo’s CEO Adriaan Thierry: “collaborations are part of our DNA”
Amsterdam-based stroller brand Bugaboo has unveiled a new limited-edition collection of baby products in collaboration with British fashion brand Stella McCartney.
NIFT founder discusses on-demand discovery and delivery
Simone Oloman, CEO and founder of Need It For Tonight (NIFT), is nominated for Women in Leadership at this year’s RG Retail Excellence Awards. She has built a retail model where speed, store stock and local fulfilment work together.
Decathlon to shut Cheltenham flagship store
Decathlon is shutting its Cheltenham flagship store on 29 August after five years, according to a report from Gloucestershire media brand So Glos.
Champion names BTS member as new face of global campaign
American sporting brand Champion has named BTS’s V as its latest brand ambassador. The K-pop boyband member will be the face of the brand’s new ‘True Champion’ marketing drive.
River Island to shut Sheffield store as part of wider restructuring
River Island is set to close its Sheffield city centre store next month, as it continues to reshape its store estate. The branch at 15 The Moor will shut permanently on 1 September, with a closing-down sale offering shoppers 30 per cent off selected products ahead of its…
Foot Locker and Nike unveil community-led retail concept in Los Angeles
Foot Locker and Nike have teamed up with local community leaders to launch a new neighbourhood-focused store concept in Los Angeles. The Crenshaw Rec by Foot Locker will open on Saturday 22 August on Crenshaw Boulevard in South Los Angeles, marking the first iteration of the new…
The Works investor questions chairman’s ‘in-person engagement’ amid boardroom row
The Works shareholder Kelso Group has stepped up its boardroom battle with the retailer, questioning chairman Steve Bellamy’s “in-person engagement” with the business amid claims he spends significant time in New Zealand.
Morrisons workforce slashed by almost 5,000 amid cost-cutting drive
Morrisons’ workforce fell by almost 5,000 employees last year due to restructuring and cost-saving measures across the business. The company’s average employee headcount dropped from 101,144 to 96,232 in the year to 26 October 2025, a reduction of 4,912 people.
Shein targets drastically diminished £18.5bn valuation as Hong Kong float nears
Shein is reportedly targeting a valuation of around £18.5bn for its long-awaited Hong Kong IPO, marking a dramatic fall from the more than £72bn price tag it commanded just four years ago.
Ikea takes on resale giants with UK second-hand marketplace
Ikea is set to launch its own second-hand marketplace in the UK later this year, allowing shoppers to buy and sell pre-owned furniture directly from one another. The peer-to-peer platform will be open to Ikea Family members and will connect buyers and sellers locally.
Asos names former Next boss Jon Bennett as menswear product director
Asos has appointed former Next managing director Jon Bennett as menswear product director for Asos Design. Bennett will lead the strategy and performance of Asos Design Menswear, with responsibility for improving its product offer, fashion authority and commercial performance.