The Business

Is Labour’s promise of reindustrialisation realistic for the UK economy? Dominic O’Connell explores the future of British manufacturing.In his speech to the Labour Party conference, Chancellor John Healey promised "a new age of industrialisation". But with UK manufacturing output stagnant and England losing over 6,000 manufacturing businesses in the past five years according to the Office for National Statistics, can government fiscal policy turn the tide?In this episode of The Business, Dominic O’Connell considers whether genuine reindustrialisation is possible, as well as the obstacles in the way including the impact of high energy costs, skills shortages and the global impact of Chinese manufacturing competition.Joined by David Smith, economics editor at The Sunday Times, and Liam Sides, director of regional analysis at Oxford Economics, we examine the structural shifts that transformed Britain into a service-based economy over the last 50 years and evaluate what a realistic reindustrialisation strategy looks like for British business, from growing advanced manufacturing sectors like aerospace and pharmaceuticals to regional investment and planning reform.Guests:David Smith, Economics Editor at The Sunday TimesLiam Sides, Director of Regional Analysis at Oxford EconomicsPresenter:Dominic O’Connell, Times columnist and Times Radio business correspondentProducer: Hope FedericoExecutive Producers: Emily Leahy and Miriam HallPicture: Getty

What does Labour’s industrial strategy mean for British business? Business Secretary Jonathan Reynolds speaks to Hannah Prevett at the Labour Party conference.In this episode of The Business, recorded live on stage at the Labour Party conference in Liverpool, Business Secretary Jonathan Reynolds joins Hannah Prevett, associate business editor at The Sunday Times, to outline the government's plans for driving economic growth across the UK economy. Reynolds discusses how Labour’s industrial strategy will operate alongside regional growth plans, what the government's corporate strategy is for taking British Steel into public control, and how fiscal policy will support UK manufacturing and infrastructure. He also shares his perspective on Heathrow expansion, rising diesel costs, and the government's plans to restore business confidence.Guest:Jonathan Reynolds, Secretary of State for Business and TradePresenter:Hannah Prevett, associate business editor at The Sunday TimesProducer: Hope FedericoExecutive Producer: Miriam Hall and Emily LeahyGet in touch: thebusiness@thetimes.com

How did M&S pull off one of the biggest turnarounds in British retail? Hannah Prevett speaks to operations director Sacha Berendji about the high street giant's transformation.In this episode of The Business, we explore how M&S transformed its food, fashion, and shop location strategy to capture market share across British business. From store renewals and digital growth - to managing a cyber attack - we consider what its resurgence reveals about wider retail trends and consumer spending across the UK economy. M&S operations director Sacha Berendji joins Hannah Prevett, associate business editor at The Sunday Times, to discuss the corporate strategy behind the multi-billion-pound revival of M&S. He explains how leadership set the course to revamp its product lineup, handle the logistics of "fortress factories" and is now approaching shoplifting challenges. He also discusses the tax burden on high street retailers, along with what M&S wants from government fiscal policy to address rising costs and the youth unemployment crisis.He breaks down the company's decision to close a number of high street shops across the country:“We're very well aware of the role that we play on a high street and within a local community, so we never take these decisions [to close a location] lightly - but when you look at the economics at play, not just for us, but for all retailers, and, really importantly, where customers are shopping, it has become more and more difficult to justify being in locations where there isn't customer foot fall,” he says on the show. “It's not an anti-high street agenda … If the high street is the right place, then we'll be on the high street.”Guest:Sacha Berendji, operations director at M&SPresenter:Hannah Prevett, associate business editor at The Sunday TimesProducer: Hope FedericoExecutive Producer: Miriam Hall and Emily LeahyGet in touch: thebusiness@thetimes.comPicture: Getty

This series is sponsored by PwC.Could we see the first female Formula 1®  driver in 50 years racing in a Grand Prix?In the second episode of a special series, host Andy Jaye speaks to 19 year old F1 ACADEMY driver Rachel Robertson, who’s chasing that dream and breaking down barriers in motorsport. Joined by PwC’s chief people officer Phillippa O’Connor they discuss Rachel’s inspirational story from a karting to the F1 ACADEMY, and how talent investment and more inclusive workplace cultures can open up new career pathways.Together they explore how nurturing talent is vital for Formula 1® and how industry leaders can attract more diverse talent to drive high performance and long term economic growth.You can also watch this episode on Times Business channel on YouTube.Presenter: Andy Jaye, BroadcasterGuests:Rachel Robertson, F1 ACADEMY driverPhillippa O’Connor, PwC Chief People OfficerProducer: Harry Bligh and Shabnam GrewalExecutive Producer: Emily Leahy Video Producer: Super LlamaGet in touch: thebusiness@thetimes.comHosted on Acast. See acast.com/privacy for more information.

Are wealth creators fleeing Britain, and what does a super-rich exodus mean for Treasury tax revenues and the wider UK economy?In this episode of The Business, Hannah Prevett investigates why high earners are leaving the country and whether changes to non-dom status are accelerating the trend. She is joined by Dan Neidle, tax lawyer and founder of Tax Policy Associates, and Robert Watts, Times contributor and compiler of the Sunday Times Rich List.Together, they explore high-profile departures, including hedge fund founder Chris Rokos, who paid £330m in UK tax in a single year. They examine how abolishing non-dom rules, rising inheritance tax, and proposed exit taxes impact capital investment across British business. And as ministers prepare their upcoming budget, Hannah asks how government fiscal policy can retain top talent in the country, protect tax receipts, and drive long-term economic growth.Presenter:Hannah Prevett, associate business editor at The Sunday TimesGuests:Dan Neidle, founder of Tax Policy AssociatesRobert Watts, Times contributorProducer: Hope FedericoExecutive Producer: Emily Leahy and Miriam Hall Video Producer: Bronwen LathamImage: Getty

This series is sponsored by PwC.What does it take to broadcast the excitement and drama of Formula 1® to millions of fans across the world, with high pressure stakes and no room for error?In the first episode of a special series, host Andy Jaye speaks to Dean Locke, Formula 1®’s Executive Director of broadcast, Media and Race Operations and PwC’s UK Consulting Chief Markets Officer David Allen. Together they examine how innovation, AI and tech have transformed Formula 1®’s high-stakes broadcasting operation to deliver greater efficiency, sustainability and quality, and what industry leaders can learn about corporate strategy and harnessing tech.You can also watch this episode on Times Business channel on YouTube.Presenter: Andy Jaye, BroadcasterGuests:Dean Locke, Formula 1® Executive Director of broadcast, Media and Race Operations David Allen, PwC UK Consulting Chief Markets Officer Producers: Harry Bligh and Shabnam GrewalExecutive Producer: Emily Leahy Video Producer: Super LlamaGet in touch: thebusiness@thetimes.comHosted on Acast. See acast.com/privacy for more information.

Coming soon…The Business of Formula 1®A series sponsored by PwC.Listen on The Business wherever you get your podcasts, or watch on Times Business channel on YouTube.

How is Pret A Manger turning a London high-street staple into a powerhouse brand? In this episode of The Business, chief executive Pano Christou breaks down the Pret A Manger global strategy, detailing how the company adapts its corporate strategy for international markets while staying true to its British business roots.Recorded live at The Times Future of London summit, Hannah Prevett sits down with one of retail's most prominent industry leaders. Pano reflects on his 26-year journey from the shop floor to the executive suite, sharing lessons in entrepreneurship, building a resilient model, and navigating changing retail trends and consumer habits.If you enjoyed this episode, make sure to press follow at the top of your podcast app.Presenter: Hannah Prevett, associate business editor of The Sunday TimesGuest: Pano Christou, Chief Executive of Pret A MangerProducer: Hope FedericoExecutive Producers: Miriam Hall and Emily LeahyVideo Producer: Bronwen LathamImage: GettyGet in touch: thebusiness@thetimes.com