Laura Pike - Director of the Pike Partnership Ltd

29/10/2026

If you live in Scotland or run a business here like me, you are probably wondering what yesterday's UK Budget actually means for you.

Most national summaries and articles only cover the headline rules for England and the UK as a whole, completely glossing over what happens north of the border.

Because key property and taxation rules are devolved, here is what actually changes in Scotland:

• Business Rates: England announced increased relief thresholds from April 2027. In Scotland, business rates are devolved. Scotland operates the Small Business Bonus Scheme (100% relief up to £12,000 rateable value, tapering to £20,000), and any changes will be decided in the Scottish Budget.

• High Value Properties: The UK's new "mansion tax" surcharge on £2m+ properties applies to England only. Instead, Scotland is introducing two new Council Tax bands from April 2028: Band I (£1m to £2m, estimated £4,800 bill) and Band J (over £2m, estimated £7,650 bill), affecting fewer than 1% of households.

• First-Time Buyers: The new "Your First Home" equity loan scheme applies to England only. Scottish buyers should look to equivalent Scottish Government schemes.

• ISAs (Applies to everyone): The previously planned cut to the cash ISA limit (£12,000 for under-65s) has been officially reversed. The full £20,000 annual allowance remains in place for all savers across both cash and stocks and shares.

• Other UK-wide rules that still apply: The reduced Business Asset Disposal Relief lifetime limit (£500,000), higher tax rates on non-ISA savings and rental income from April 2027, and unused pensions falling into inheritance tax calculations from April 2027.

For the broader UK overview, read the full article here: https://partnership.sjp.co.uk/article/detail/sjpp/2026-autumn-budget-aftermath-what-is-changing

28/10/2026

Oil hit its highest level since June 2022, AI spending faced fresh scrutiny, and French bond yields climbed above 5%.

Here is what moved markets this week:

• Oil & Inflation: Middle East shipping attacks and speculation around US action against Iran pushed oil to multi-year highs. That fed straight into UK inflation, which jumped to 3.5% in September alongside higher airfares, squeezing household spending and reinforcing expectations of a Bank of England rate hike on 5 November.

• AI & Valuations: Tech sell-offs deepened as Meta and Nvidia slid, while CoreWeave fell 40% over the month. With rising borrowing costs and heavy data centre build-out costs, investor focus has shifted from confidence in the technology to scrutiny over near-term returns. Slower sales growth at Anthropic could also weigh on valuations ahead of its planned November IPO.

• Government Bonds: French 10-year yields (OATs) rose above 5% to their highest level since 2002, with French borrowing costs now sitting above Italy and Greece. While civil unrest and a 5.4% budget deficit continue to weigh, Moody's kept France's credit rating unchanged. Meanwhile, US 10-year Treasury yields fell below 5% as investors sought safety.

Read the full article here: https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-26-10-2026

27/10/2026

Yesterday was a busy day at The Pike Partnership! Our Director, Laura spent the afternoon with Alex Busch from VSA, seeing the great work they continue to do! Laura also met Rachael from AberNecessities who is preparing Christmas parcels for Children of the North East of Scotland. In the evening, Laura and Hannah attended the Fishermen’s Mission Charity Fashion Show at The Marcliffe! A fabulous evening celebrating local boutiques, fashion and a wonderful cause. ❤️

A special shoutout to Lolo & Co, Style for Your Shape, Hamish Munro and Tigerlily Boutique for showcasing their collections on the catwalk!

22/10/2026

AI chip makers faltered, US inflation picked up, and UK growth showed unexpected resilience ahead of next week's Budget.

Here is what moved markets this week:

• AI & Chip Makers: TSMC reported record Q3 profits up 69%, but shares dropped over 7%. Samsung fell nearly 15% across five days, sitting down over 30% from its June peak. Meanwhile, data centre operators Firmus and AirTrunk paused or delayed planned IPOs, and questions mounted over debt levels across AI neoclouds.

• US Inflation & Treasuries: US CPI rose to 3.7% in September, driven by gasoline jumping 34% over the past year. Core inflation ticked up to 2.6%. Despite rate hike expectations rising, Treasury yields ended the week lower as investors sought a haven from tech volatility.

• UK Economy & Budget: August GDP grew 0.1%, beating contraction forecasts, while the IMF upgraded 2026 UK growth to 1.3%. However, Brent crude jumping to near $110 a barrel adds immediate pressure for Chancellor John Healey ahead of his inaugural Budget.

Read the full article here: https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-19-10-2026

13/10/2026

When markets face pressure from several directions at once, my focus is on looking past the noise to understand the real mechanics driving this.Here is what moved markets this week:

• Oil amp; Diesel: Despite a deal to release 13.5m barrels of Russian diesel, Octobers 2.3m shipment barely touches 30m daily global demand. US retail diesel sits at $6.28/gallon (up from $3.68 last year), and Brent crude is up 66% year-to-date, remaining above $100.

• Shipping amp; Gulf risks: Tanker attacks in the Strait of Hormuz (9 in October, 15 in September) and strikes on Gulf energy assets have driven up costs. Shipping crude from the Middle East to Europe added $35 per barrel in September, compared to $2 in 2025.

• US Mid-terms: With under three weeks to go, inflation and war are weighing heavily on polling. Democrats need a net gain of 3 seats to take the House, while the Senate (currently 53 to 47 Republican) requires a 5-seat net swing.

• Eurozone debt: Bond spreads for France, Italy, and Spain against German bunds have widened, echoing 2010 to 2012 jitters. But stronger bank capital rules, ECB backstops, and Frances diversified economy provide key buffers.

Read the full article here: https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-12-10-2026

13/10/2026

People often ask what its like working with my daughter.

Honestly? Its one of the best decisions I've made.

Hannah brings a different perspective. She challenges me. She keeps us moving forward. And she's far better at some things than I'll ever be.

But the best part isn't the business stuff.

It's knowing we are building something together. Something that matters to both of us. Something that helps families plan for their future.

Not everyone gets to work alongside their family. I don't take it for granted.

10/10/2026

💚 World Mental Health Day 💚

Sometimes, something as simple as asking “Are you okay?” can make a world of difference.

I feel so lucky to come from a family, and a wider group of people, where checking in on each other is just part of who we are. We’re a talking family, and we know that sometimes, having someone to listen is all it takes. ❤️

You don’t always need the right words or all the answers. Sometimes, you just need to show up, ask the question and remind someone they’re not alone.So today, and every day, check in on your people.

You never know how much a simple “Are you okay?” might mean. 💚

09/10/2026

So blessed to be leading the Alumni Choir again! ❤️

Friends of ANCHOR’s 30th anniversary next year will bring familiar faces back to the catwalk for an emotional reunion, and a time to remember those no longer here.

02/10/2026

US 10-year Treasury yields reached 5.1% this week, a level last seen during the global financial crisis in 2007.

At the same time, the 30-year Treasury yield climbed even higher, exceeding its level in 2004.

Here is what you need to know from this week across the markets:

• US economy and bonds: US business activity in September accelerated to its fastest rate in over five years. While economic resilience continues, persistent inflation pressures and the higher for longer interest rate narrative pushed bond prices, shares, and the gold price lower.

• Oil and energy: Brent crude oil spiked to $105 a barrel, rising 17% over the month amid elevated Middle East tensions. US diesel prices are almost 80% higher than last year, with sentiment also weighed down by reports that President Trump has been considering a curb or ban on US diesel exports.

• European crossroads: Traditional sectors remain under pressure, highlighted by VW forecasting an operating profit margin of only 1% this year, down from a previous forecast of 4%. Yet European equities are trading at a price-earnings ratio of around 14x compared to 21x for global markets, with July economic activity and sentiment reaching a five-month high.

https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-28-09-2026