5 important things happening in the UK today

January 15, 2026

Here are 5 important things happening in the UK today, Wednesday (15 January 2026):

TGI Fridays closes 16 UK stores, with 456 job losses: TGI Fridays has closed 16 of its UK restaurants, putting 456 employees out of work. The American-inspired casual dining chain’s remaining 33 restaurants will continue to operate after the business was sold in a rescue deal. Interpath was appointed as administrator to Liberty Bar and Restaurant group, which managed the operations of TGI Fridays’ UK restaurants, on Tuesday. [BBC]

UK borrowing costs drop to lowest level in more than a year: UK borrowing costs have dropped to their lowest level in more than a year, as investors were encouraged by more stable government finances and the prospect of further interest rate cuts. The yield, or interest rate, on 10-year UK government bonds fell to 4.34%, down from 4.41%, to the lowest level since December 2024, with the prospect of the UK public finances being put on a firmer footing lowering the risk of holding UK debt. [Guardian]

Half of UK pubs are now shutting early: Almost half of Britain’s pubs have scaled back their opening hours over the past year after Rachel Reeves’s tax raid. Many landlords are closing early or scrapping lunchtime services to offset higher costs, as they seek to cope with soaring wages and inflated property taxes under Labour. According to a survey from the British Beer and Pub Association (BBPA), seen by The Telegraph, 47pc of pub owners said they had reduced hours on trading days between April and October last year. A total of 84 owners responded to the survey, representing hundreds of pubs. [Telegraph]

£1.5 million homes may be hit by Rachel Reeves’s mansion tax: Houses believed to be worth more than £1.5 million will be revalued and could be dragged into paying Rachel Reeves new “mansion tax”, it has emerged. Homes worth more than £2 million will be hit by the new high council tax surcharge from 2028. Jonathan Russell, the chief executive of the Valuation Office Agency (VOA), said houses currently worth about £1.5 million would be checked to see if their value had climbed, taking them over the threshold. [LBC]

On Thursday, Oil was trading lower at $63.08. The pound is trading at $1.34, €1.15, and ¥9.37.

Now read: Brits who bought their homes a decade ago are now selling for less than what they paid