5 important things happening in the UK today (1 May 2026)
Here are five important things happening in the UK on Friday (1 May 2026):
Hiring freezes are coming
British business leaders are bracing for hiring freezes as headcount expectations dropped into negative territory again, according to new data from the Institute of Directors. The IoD’s economic confidence Index edged up to -64 in April from -76 in March, remaining close to historic lows. But headcount expectations slipped to minus three from zero in the previous month, signalling that more firms now plan to cut staff than expand their workforce. [CityAM]
Trump to remove whisky tariffs after King’s visit
Donald Trump has said he will remove all tariffs and restrictions on whisky imports in honour of King Charles and Queen Camilla’s state visit to the US. The US president said he would lift restrictions on Scotland’s ability to work with the state of Kentucky on whisky and bourbon. The UK government confirmed this applies to all whisky tariffs, including on Irish whiskey. Industry representatives said distillers would be able to “breathe a little easier during a period of significant pressure on the sector”. [BBC]
Threat level increased following terror attack
The Joint Terrorism Analysis Centre (JTAC) has today raised the UK National Threat Level from SUBSTANTIAL, meaning an attack is likely, to SEVERE, meaning an attack is highly likely in the next six months. The increase in threat comes following Wednesday’s stabbing in Golders Green in North London, but it is not solely a result of that attack. The terrorist threat level in the UK has been rising for some time, driven by an increase in the broader Islamist and extreme right-wing terrorist threat from individuals and small groups based in the UK. [GOV]
Claire’s expected to return to UK high streets with about 50 stores from June
The jewellery and accessories chain Claire’s is expected to return to UK high streets with about 50 stores to be reopened from June onwards by the operator of its shops in France, Austria, Portugal and Spain. Julien Jarjoura, the French entrepreneur behind jewellery company Une Ligne, which sells online and via museum stores including the Louvre and the Palace of Versailles, said he had the blessing of the US owner of the Claire’s brand, Ames Watson, to open stores in the UK and was signing new leases with UK landlords. [Guardian]
Financial news
Oil prices pared back slightly on Thursday after touching the $126 mark. However, efforts to end the war in Iran have hit an impasse, with both the US and Iran threatening fresh strikes. On Friday, Oil was trading higher at $113.94. The pound is trading at $1.36, €1.16, and ¥9.28.
