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Britain’s love for tea is waning, especially among younger generations. Traditional tea faces competition from herbal drinks, iced teas, and coffee. With sales declining, brands like Twinings are innovating with ready-to-drink options to stay relevant in the shifting market.
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UKTW.ORG’s October events showcased UK-Taiwan synergy, featuring “A Taste of Taiwan” in the UK and “UK Investment Trends” in Taiwan, with insights from Piers Gopsill. Thanks to sponsors like China Airlines UK & CBRE, the events fostered cross-border collaboration!
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UK Export Finance partners with a business group to support female entrepreneurs, offering tailored training, networking, and export finance solutions. This initiative aims to close the gender gap in entrepreneurship and boost UK exports. Source: GOV.UK
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The 6th UK-Taiwan Energy Dialogue highlights shared efforts in offshore wind, hydrogen tech, and carbon capture, strengthening ties for a sustainable future. This collaboration reflects a commitment to innovation and tackling global energy challenges together.
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Tax hikes in the UK have sparked a 26.6% surge in Venture Capital Trust (VCT) investments, with £250.1m raised this year. Offering 30% tax relief and exemptions, VCTs appeal to higher earners, though experts warn of higher risks and liquidity challenges.
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UK SMEs can unlock £9.3bn by exporting via e-commerce. Despite Brexit challenges, 66% have mastered EU customs, with 9% entering non-EU markets. Priorities include smoother customs, lower tariffs, and reduced trade barriers for easier global growth.
Meal-kit providers such as HelloFresh and Gousto are rethinking strategies post-pandemic, focusing on profitability and operational efficiency while navigating slowed growth. Global meal-kit revenue is projected to grow to $19.5bn by 2028.
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The UK government plans to permanently cut business rates for retail, hospitality, and leisure properties from 2026, funded by higher taxes on top-value properties like large warehouses. Employers will also benefit from increased Employment Allowance.
If Donald Trump imposes a 20% tariff on all imports, UK exports could suffer a £22 billion blow, affecting sectors like fishing, petroleum, and mining. This could reduce UK economic output by 0.8%, and UK leaders are urging the US to reconsider the impact on allies.
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The UK secures a £500 million investment from Prologis to expand Cambridge Biomedical Campus, creating over 2,120 jobs. This boosts biomedical research and supports the government’s goal for economic growth, following Chancellor Rachel Reeves’ first budget announcement.
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The 2024 Budget introduces minimum wage increases, tax adjustments, and pension changes. Low-wage workers will see a pay rise, while inheritance tax and capital gains tax tighten. Meanwhile, bus fares and private school costs rise, with mixed reactions on job prospects and rental markets.
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The London East Asia Film Festival 2024 features a stellar lineup of Taiwanese films, including Dead Talent Society, a dark comedy by John Hsu, and restored classics like Woman of Wrath. This diverse programme highlights Taiwan’s cinematic depth and creativity. Tickets available at LEAFF’s website.