The UK economy is facing potential headwinds from global trade tensions, even if tariffs are avoided. Chancellor Reeves has warned that a trade war could damage the UK, impacting growth and inflation. This comes amid other challenges and opportunities in the business world, from construction suppliers to international investment in technology.
Trade War Concerns
According to Chancellor Reeves, global economic friction could negatively affect the UK economy. "Even without direct tariffs, the fallout from a trade war could hit growth and drive up inflation," Reeves stated. This highlights the interconnectedness of the global economy and the potential for ripple effects even when direct trade barriers aren't in place.
The warning comes at a time when other UK businesses are navigating their own challenges. Let's take a look at some other recent business developments.
SIG plc Faces Challenges
Sheffield-based construction supplier SIG plc is experiencing widening losses, despite what it describes as a "robust" performance. While the company has reported sales growth in both Ireland and the UK, it's clearly facing headwinds. 
These "ongoing challenging" trading conditions highlight the difficulties some sectors are facing in the current economic climate.
Malaysia's Chip Ambitions
In other news, Malaysia is making a significant investment in its chip-making industry. The country has struck a US$250 million deal with UK-based Arm Holdings Plc. Rafizi described this as a "radical approach" to jumpstart Malaysia’s chip-making ambitions. This move signals Malaysia's intent to become a key player in the global technology supply chain.
Epstein's Influence in Banking
A court has heard that Jeffrey Epstein used a lobbyist to push for Jes Staley to become Barclays CEO back in 2012. The campaign, dubbed "Project Jes," targeted high-level figures including George Osborne and Mervyn King. 
The revelation is part of a legal case launched by Staley against the Financial Conduct Authority (FCA), who banned him from senior roles in the UK’s financial sector. Staley is accused of misleading the regulator about his relationship with Epstein.
These diverse stories highlight the complex and ever-changing landscape of the UK and global business world. From potential trade war impacts to individual company challenges and international deals, there's a lot to keep an eye on.