Chinese robotaxis could be set to hit UK roads in 2026 as ride-sharing apps Uber and Lyft announce partnerships with Baidu to trial the tech.
The two companies are hoping to obtain approval from regulators to test the autonomous vehicles in London.
Baidu’s Apollo Go driverless taxi service already operates in dozens of cities, mostly in China, and has accrued millions of rides without a human behind the wheel.
Transport secretary Heidi Alexander said the news was “another vote of confidence in our plans for self-driving vehicles” – but many remain sceptical about their safety.
“We’re planning for self-driving cars to carry passengers for the first time from spring, under our pilot scheme – harnessing this technology safely and responsibly to transform travel,” Ms Alexander said in a post on X.
Uber said in June it would bring its plans to trial UK driverless cars forward as the government sought to accelerate framework to allow pilots of small autonomous “bus and taxi like” commercial services in 2026.
“We’re excited to accelerate Britain’s leadership in the future of mobility, bringing another safe and reliable travel option to Londoners next year,” it said of its Baidu partnership on Monday.
Lyft said in August it would look to deploy driverless taxis in the UK and Germany as part of a European agreement with Baidu.
It already operates “autonomous rides” in Atlanta, US – where Uber also operates a robotaxi service through its partnership with Waymo.
Lyft chief executive David Risher said in a post on X on Monday London passengers would be “the first in the region to experience Baidu’s Apollo Go vehicles”.
But both firms still need to convince regulators.
Mr Risher said if green lit, Lyft’s initial fleet of dozens of Baidu Apollo Go cars would begin testing next year “with plans to scale to hundreds from there”.
But Jack Stilgoe, professor of science and technology policy at University College London, said driverless cars “can’t just scale up like other digital technologies”.
“There’s a big difference between having a few test vehicles using public streets as their laboratory and a fully-developed, scaled-up system that becomes a real transport option for people,” he told the BBC.
Self-driving vehicles have often been lauded as the future of transport, with some claiming they make fewer errors than human drivers.
But many people remain uneasy about the safety of taxis without a human operator.
Almost 60% of UK respondents to a YouGov poll in October said they would not feel comfortable riding in a driverless taxi under any circumstances.
Many also expressed a lack of trust in the tech, with 85% saying they would opt for a cab with a human driver if given the same price and convenience.
Instances of autonomous vehicles making mistakes, trapping passengers in cars and causing traffic jams or accidents also continue to make headlines.
Self-driving taxi operator Waymo reportedly suspended its service in San Francisco on Saturday after some of its vehicles stopped working during a power cut.
Prof Stilgoe said amid concerns about their safety, as well as privacy and the potential to add to congestion, the UK should lead in “setting standards for the technology”.
“London has been really successful at getting cars out of its city centre,” he said.
“When it comes to traffic, the only thing worse than a single-occupancy car is a zero-occupancy one.”
“We’re planning for self-driving cars to carry passengers for the first time from spring, under our pilot scheme – harnessing this technology safely and responsibly to transform travel,” Ms Alexander said in a post on X, external.
Uber said in June it would bring its plans to trial UK driverless cars forward as the government sought to accelerate framework to allow pilots of small autonomous “bus and taxi like” commercial services in 2026.
“We’re excited to accelerate Britain’s leadership in the future of mobility, bringing another safe and reliable travel option to Londoners next year,” it said of its Baidu partnership on Monday.
Lyft said in August it would look to deploy driverless taxis in the UK and Germany as part of a European agreement with Baidu.
It already operates “autonomous rides” in Atlanta, US – where Uber also operates a robotaxi service through its partnership with Waymo.
Lyft chief executive David Risher said in a post on X, external on Monday London passengers would be “the first in the region to experience Baidu’s Apollo Go vehicles”.
But both firms still need to convince regulators.
Mr Risher said if green lit, Lyft’s initial fleet of dozens of Baidu Apollo Go cars would begin testing next year “with plans to scale to hundreds from there”.
But Jack Stilgoe, professor of science and technology policy at University College London, said driverless cars “can’t just scale up like other digital technologies”.
“There’s a big difference between having a few test vehicles using public streets as their laboratory and a fully-developed, scaled-up system that becomes a real transport option for people,” he told the BBC.
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MILWAUKEE–(BUSINESS WIRE)–
Fiserv, Inc. (NASDAQ: FISV) today announced a strategic collaboration with Visa (NYSE: V) to enable Visa Intelligent Commerce and deploy Trusted Agent Protocol across Fiserv’s interoperable agentic ecosystem. This will empower merchants to participate in the rapidly evolving world of Agentic Commerce, where artificial intelligence-driven agents act on behalf of consumers to discover, compare, and purchase products. By combining Visa’s authentication and agentic commerce capabilities with Fiserv’s extensive merchant network, the two companies are delivering the infrastructure and trust needed for merchants to thrive as commerce becomes increasingly automated.
“Fiserv and Visa are simplifying entry into the Agentic Commerce ecosystem, giving Clover and Fiserv merchants, as well as our ISV and ISO partners, the tools to capitalize on the groundbreaking experiences while fostering trust and safety,” said Sanjay Saraf, SVP and Global Chief Product Officer, Merchant Solutions at Fiserv.
“Through Visa Intelligent Commerce and our Trusted Agent Protocol, we are building trust into every layer of the agentic commerce experience,” said Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships, Visa. “Partners like Fiserv are essential to scaling these secure, innovative solutions for merchants and consumers worldwide.”
Supporting Merchant Acceptance Through Trusted Agent Protocol
As part of this collaboration, Fiserv and Visa are working together to deploy Trusted Agent Protocol across Fiserv’s acceptance ecosystem to authenticate, retrieve, accept, and process agentic transactions. The Trusted Agent Protocol establishes a secure framework that distinguishes trusted agents from malicious bots, ensures every interaction is authorized by a consumer with verified intent, and validates that payment information used at checkout remains unaltered. With the Trusted Agent Protocol available within Fiserv’s existing products and services, merchants and their customers can engage confidently in automated commerce experiences knowing that every transaction is protected by robust identity and transaction safeguards.
Beyond Acceptance: Enabling Intelligent Commerce
Fiserv and Visa are also looking beyond solely supporting agentic acceptance to enable the full potential of intelligent commerce. Fiserv and Visa deliver the foundational capabilities that make agent-driven experiences possible. This includes providing merchants, ISVs, and ISOs with the infrastructure, tools, and integration frameworks needed to embed AI-driven agentic experiences seamlessly into their workflows without disrupting existing operations.
Fiserv’s enabler role extends outside of payments to include secure connectivity that authenticates agents and protects transactions, scalable integration options that allow businesses to adopt agentic capabilities at their own pace, and operational intelligence that automates dispute resolution and optimizes routing in real time. By connecting merchants to Visa Intelligent Commerce’s global authentication and tokenization services and enabling issuers and acquirers to participate in shaping agentic experiences, Fiserv acts as the bridge between the traditional payment ecosystem and the agentic commerce ecosystem.
Fiserv and Visa are united in their commitment to innovation and merchant success. Merchants and partners are invited to explore these solutions and learn more about integration and onboarding opportunities at Fiserv.com and Visa.com.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world’s smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index, one of TIME Magazine’s Most Influential Companies™ and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
FISV-G
View source version on businesswire.com: https://www.businesswire.com/news/home/20251222678227/en/
Restoration of Nasdaq compliance follows $50 million institutional financing and reinforces balance-sheet strength
SYDNEY, Dec. 22, 2025 /PRNewswire/ — Kazia Therapeutics Limited (“Kazia” or the “Company”) (NASDAQ: KZIA), a clinical-stage oncology company focused on developing innovative therapies for cancer, today announced that it has regained full compliance with all applicable listing standards of Nasdaq.
On December 18, 2025, the Company received written notification from Nasdaq confirming that Kazia has regained compliance with Nasdaq Listing Rule 5550(b)(1), the $2.5 million minimum stockholders’ equity requirement, which serves as an alternative to the minimum market value of listed securities (“MVLS”) standard. Nasdaq further confirmed that the Company is now in compliance with all applicable Nasdaq listing requirements, that the previously scheduled hearing before the Nasdaq Hearings Panel has been cancelled as moot, and that Kazia’s American Depositary Shares will continue to trade on The Nasdaq Capital Market.
The restoration of full Nasdaq compliance follows the Company’s recently announced $50 million private placement of equity securities, led by healthcare-dedicated institutional investors, which significantly strengthened Kazia’s balance sheet and stockholders’ equity position.
“This outcome reflects the progress we have made strengthening the Company’s financial position,” said Dr. John Friend, M.D., Chief Executive Officer of Kazia. “With full Nasdaq compliance restored and a substantially enhanced balance sheet following our recent financing, we are well-positioned to focus on advancing our clinical programs and building long-term shareholder value.”
Kazia believes that the restoration of Nasdaq compliance provides increased clarity for investors and enhances the Company’s capital markets flexibility as it continues to advance its clinical-stage oncology pipeline, including ongoing development of paxalisib across brain cancer and advanced breast cancer indications.
For further information contact:
Alex Star Managing Director LifeSci Advisors LLC [email protected] Ph: +1 (201) 786-8795
About Kazia Therapeutics Limited
Kazia Therapeutics Limited (NASDAQ: KZIA) is an innovative oncology-focused drug development company, based in Sydney, Australia. Our lead program is paxalisib, a brain-penetrant pan-PI3K/mTOR inhibitor, which is being developed to treat multiple forms of brain cancer, including glioblastoma and brain metastases. A Phase 1b clinical trial is also underway evaluating paxalisib in combination with checkpoint inhibition and chemotherapy for patients with advanced triple-negative breast cancer.
Forward Looking Statements
This announcement may contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which can generally be identified as such by the use of words such as “believe,” “may,” “will,” “estimate,” “future,” “forward,” “anticipate,” or other similar words. Any statement describing Kazia’s future plans, strategies, intentions, expectations, objectives, goals or prospects, and other statements that are not historical facts, are also forward-looking statements, including, but not limited to, statements regarding: the Company’s future expectations, plans and prospects, including the benefits of regaining Nasdaq compliance. Such statements are based on Kazia’s current expectations and projections about future events and future trends affecting its business and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including risks and uncertainties: related to market and other conditions, associated with clinical and preclinical trials and product development, including the risk that preliminary or interim data may not reflect final results, related to regulatory approvals, and related to the impact of global economic conditions. These and other risks and uncertainties are described more fully in Kazia’s most recent Annual Report, filed on form 20-F with the SEC, and in subsequent filings with the SEC. Kazia undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required under applicable law. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date of this announcement.
TORONTO , Dec. 22, 2025 /PRNewswire/ – Manulife has been notified of an unsolicited mini-tender offer made by Ocehan LLC (Ocehan) to purchase up to 50,000 Manulife common shares, or less than 0.003% of the common shares outstanding, at a price of $35.80 per share.
Manulife is in no way associated with Ocehan and does not recommend or endorse acceptance of this unsolicited offer.
Manulife cautions shareholders that the mini-tender offer has been made at a price below the current market price for Manulife shares. The offer represents a discount of approximately 24.88% and 24.67%, respectively, below the closing prices of Manulife common shares on the TSX and NYSE on November 19, 2025, the last trading day before the mini-tender offer was commenced, and a discount of 28.29% and 28.16%, respectively, below the closing prices on the TSX and NYSE on December 19, 2025.
Mini-tender offers are designed to seek less than 5% of a company’s outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.
The SEC states that “bidders make mini-tender offers at below-market prices, hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.”
Shareholders should carefully review the Ocehan offer documents and current market price for Manulife shares, and consult their investment advisors regarding any offer they may receive and review with their advisors all options for their investment in Manulife shares.
Manulife has stock transfer agents providing shareholder services in Canada, the United States, Hong Kong and the Philippines. These local agents provide services directly to our registered shareholders and can provide information on share account management, direct deposit of dividends, dividend reinvestment and share purchase plans. Please email [email protected] for more information.
Manulife requests that a copy of this news release be included in any distribution of materials relating to Ocehan’s mini-tender offer for Manulife common shares.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions.
For additional information, please visit manulife.com.
Media Relations Fiona McLean Manulife 437-441-7491 [email protected]
Dr. George Elombi, President of Afreximbank and Mr. Tony Elumelu, Chairman, Heirs Energies Limited with the signed agreement
Abuja, Nigeria, 22 Dec. 2025:–African Export-Import Bank (Afreximbank) and Heirs Energies Limited have announced a landmark US$750-million financing partnership designed to optimise Heirs Energy’s capital structure and unlock critical liquidity to support its working capital requirement as it pursues its ambitious field development programme. The investment is expected to significantly transform Nigeria’s domestic energy capacity as demand rises.
Signed by Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, and Mr. Tony O. Elumelu CFR, Chairman of Heirs Energies Limited, the dual-tranche senior secured reserve-based lending facility, concluded during a ceremony in Abuja, will support Heirs Energies’ accelerated growth strategy as the company enters a new phase of expansion seeking to increase, and sustain, its oil and gas production.
Afreximbank was appointed the Mandated Lead Arranger, Facility Agent, and Security Agent under the financing which is seen as an important milestone in strategic collaboration between Afreximbank and Heirs Energies.
In comments following the signing, Dr. Elombi highlighted the partnership as a testament to Afreximbank’s commitment to value creation and the empowerment of African entrepreneurs.
“Without investments, such as the one being provided to Heirs Energies, many fossil fuel-dependent African economies would face dire economic challenges,” said Dr. Elombi. “Our aim, among others, is to empower the African entrepreneur. Our core strength is in the value of the partnerships we continue to forge.”
He lauded Mr. Elumelu’s steadfast support for Afreximbank’s activities, adding that such partnerships have been instrumental in helping position Afreximbank as a significant cog in unlocking Africa’s economic transformation and other goals.
The President reaffirmed Afreximbank’s determination to see the African Energy Bank project to fruition, saying, “we should get to higher strides and get the Energy Bank so we can move most of the energy portfolio there. We will put tremendous capital in it to be as bold and as innovative as Afreximbank”.
Dr. Elombi added that Afreximbank was willing to work with Heirs Holdings and its affiliated companies expand to other West African countries such as Ghana and Côte d’Ivoire, and to other parts of the continent. “Our aim is to spread and support the domination of the African brand across Africa.”
Commenting on the transaction, Chairman, Heirs Energies LimitedMr. Tony O. Elumelu, CFR noted: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital. It reflects the successful journey Heirs Energies has taken – from turnaround to growth – and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.”
Heirs Energies plays a pivotal role in Nigeria’s oil and gas industry, where crude oil remains a resource of critical national and international importance.
The partnership between Afreximbank and Heirs Energies Limited dates to 2021, when the company, then known as Heirs Oil & Gas, completed its landmark acquisition of a 45-per cent participating interest in the OML 17 Joint Venture with a US$ 1.1-billion transaction financed by a consortium of international and local banks led by Afreximbank, marking one of the most significant indigenous energy acquisitions in Nigeria’s oil and gas sector.
Afreximbank participated with up to US$ 250 million of that financing, underscoring its commitment to Africa’s energy sector development and its mandate to promote intra-African trade and the growth of African-owned enterprises.
Since that acquisition, the crude oil production has increased from approximately 25,000 barrels per day to an average of 50,000 barrels per day, in addition to significant associated and non-associated gas production. Heirs Energies also achieved first gas from the Agbada Non-Associated Gas Plant on 21 November 2021, just months after taking over the asset which had been under construction for over 10 years under the previous operator.
Currently, Heirs Energies is the top gas supplier in the Eastern Domestic Network and supplies gas to three major power plants, collectively contributing approximately 15 per cent of Nigeria’s installed electricity generation capacity.
Dr. Elombi and Mr. Elumelu with the senior leadership of their respective organisations
ENDS
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com
Follow us on X |Facebook | LinkedIn | Instagram
Afreximbank Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
About Heirs Energies Limited
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contribute to a more prosperous Africa.
The CMA said competition between fuel retailers was poor
Drivers could be paying more than they should for petrol and diesel after the UK’s competition watchdog said fuel profit margins remain at “persistently high levels” despite prices at the pump having fallen.
The Competition and Markets Authority (CMA) also challenged retailers’ claims that this was a result of higher operating costs.
In its first annual road fuel monitoring report, the CMA said competition in the sector was “weak”.
The report was published as the government prepares to launch its “fuel finder” scheme, which will allow drivers to compare real-time fuel prices.
Petrol was 136.8p per litre last week, according to government tracking, while diesel was 146.1p per litre.
The CMA said if there was more competition, drivers would see better fuel prices at the pump.
Retailers will have to sign up to theplannedfuel finder scheme and report price changes within 30 minutes of them being implemented.
The CMA said the finder would be accessible through apps and satnavs, and allow drivers to easily compare prices.
“In turn, this should incentivise retailers to compete harder for customers, placing downward pressure on prices.”
Dan Turnbull, senior director of markets at the CMA, said: “Fuel margins remain at persistently high levels – and our new analysis shows operating costs do not explain this.
“We know fuel costs are a big issue for drivers, especially at this time of year with millions making journeys across the country.”
Drivers ‘being taken for a ride’
Both the RAC and the AA said drivers were being overcharged for fuel.
The AA said that, since November, the wholesale cost of petrol has fallen more than 7p per litre but the average petrol pump price had fallen by just two-thirds of a penny.
“It comes as millions of drivers take to the road for Christmas and are being overcharged for their fuel,” the motoring body said.
“Drivers are being taken for a ride at the pumps, as the CMA clearly illustrates.”
RAC head of policy Simon Williams said: “Many drivers won’t be surprised to hear that they’re still paying too much for their fuel, especially judging by the complaints we receive about large price variations from area to area.”
He said retailers’ arguments of higher operating costs had “now been clearly rejected” by the CMA.
“We sincerely hope the new fuel finder scheme, combined with ongoing scrutiny from the CMA, finally leads to increased competition and lower forecourt prices for drivers right across the country.”
Most companies and bosses would squirm at the idea of being called “woke” and may even regard it as an insult. But not Mark Constantine.
Lush’s outspoken co-founder and chief executive wears it like a badge of honour and is not ashamed of turning it into a business philosophy.
The firm is renowned for putting activism at the heart of its bright bath bombs business, tackling a range of issues from trans rights to police accountability.
The 73-year-old is still steering the empire with the same principles that have defined its three decades on the High Street, which has seen it expand from a small Dorset store into a global brand with 869 outlets and an annual turnover of £690m.
Lush has taken some of the boldest stances in British retail including shutting down some of its social media accounts over concerns about the impact on young people, and more recently closing stores for a day to protest against starvation in Gaza.
“I like being woke,” admits Constantine.
A self-confessed “over-achiever and a nerd” who loves learning, he is up before the crack of dawn for his main passion – writing about birdsong – in between his meditation and Alexander technique, a therapy for good posture and movement.
But his message is crystal clear to those who openly resent his values: “You shouldn’t come in my shop.”
It’s a strong statement in an era when many businesses avoid political or cultural debates for fear of alienating customers and risking profits.
Ben & Jerry’s has long worn its social activism on its sleeve, which has caused tension with its parent company.
Where Lush has remained an independent firm, Constantine believes selling out means sacrificing the business’s values.
“If you’ve sold your business to someone else, I think you’re asking a lot for them to do everything you want. What should Ben and Jerry have done? They should never have sold.”
Ben & Jerry’s co-founder Ben Cohen maintains they were opposed to selling but as a publicly-traded company, says US regulations forced their hand and the brand’s social mission was written into the contract with the parent company.
“I have a huge appreciation for Lush, their values, and how they use their most powerful tool – their voice – to advocate for those values,” Cohen told the BBC, following Constantine’s Big Boss interview, adding, “I’m not ‘asking’ for anything.”
Speaking to the BBC’s Big Boss Interview podcast in the busy run-up to Christmas, Lush’s Constantine says preparing for the festive period is “very like war”.
“You have your troops, you have your supplies. Everything’s organised and ready. And then it’s just a question of when will the onslaught occur?”
He suggests that men may be more likely to be out buying last-minute presents, saying with a laugh the company sees a lot of men “who come in on Christmas Eve and tell us they’re regulars”.
But the key to attracting shoppers in the first place is by making retail “fun”, says Constantine.
Lush has turned shopping into more of an experience with offerings such as spa treatments and parties for customers.
And it’s experiences such as these that could help reverse the High Street’s declining prospects, he believes.
While some business leaders have suggested that a rise in employers’ National Insurance contributions and in the minimum wage could result in hiring freezes, Constantine views it differently.
“It’s good news for everyone and it’s good for the economy because you’ve got more money coming into the economy at the biggest point.
“The people who are getting these raises are at the bottom.
“I’m delighted to pay the extra money to get the staff up to a proper level, and I think we should celebrate that.”
However Lush’s pay record is not without blemish. In 2020, it admitted to underpaying its Australian workers more than $4m over nearly a decade. A company spokesperson told the BBC after the Big Boss interview: “We made mistakes, we found those mistakes and have paid the money we owed, and we are ensuring those errors cannot happen again.”
In the same year Lush faced claims of poor working conditions at its Australian factory. The spokesperson added: “Since these concerns were raised we swiftly developed an action plan to address the areas of concern.”
Lush is privately owned by all six co-founders – Constantine and his wife Mo, Rowena Bird, Helen Ambrosen, Liz Bennett and Paul Greeves – all of whom started the business in 1995 and have remained active since.
Two of Constantine’s three children also work for the company, which is particularly pleasing for a man who believes family is at the heart of a successful business and is key to longevity.
“Family businesses give better returns on investment at every level,” he says, claiming they last longer because they ride out the good times and the bad.
It’s a lesson he learned from the late Dame Anita Roddick, founder of The Body Shop where it all began for Constantine in 1977 – manufacturing and supplying products to Roddick’s stores.
However, he says the government does not understand “the strength of family businesses” after it announced that from April 2026 family business assets of more than £1m will face inheritance tax when passed on to relatives.
He believes this tax will force many owners to sell up, which is the “real worry on succession”.
A spokesperson for the Treasury said the government was “pro-business”, pointing out that it had capped corporation tax at 25% and was reforming business rates.
“Right now, 53% of Business Property Relief – worth £533m – goes to just 158 estates. Our reforms will channel that funding into vital public services,” the spokesperson said.
Nevertheless, Constantine remains bullish about the future of bricks-and-mortar shopping.
But he thinks modern retailing would benefit from a return to the old-fashioned values that once defined British retail, in particular innovation and kindness.
“I like to serve. I like the Jeeves kind of feeling,” he says with a grin.
