HSBC chair poured cash into failed tax avoidance investment scheme December 18, 2025 The new chair of HSBC lost money in a tax-avoiding investment scheme that ultimately collapsed, City AM can reveal. Brendon Nelson became a partner and investor in a biofuel exploration business called Future Fuels, itself part of a wider scheme called Elysian Fuels which was operated by Future Capital Partners. The unregulated investment scheme was [...]
FCA: Motor finance lenders ‘very focused’ on negatives of redress December 16, 2025 The boss of the UK’s financial watchdog has taken a swipe at motor finance lenders that are begrudged with the regulator’s redress scheme, stating they are “very focused” on the negatives. In a session with the Treasury Select Committee, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA) opened the door to changing the [...]
UK investors spooked by tax hikes on dividends and savings December 16, 2025 Rachel Reeves’ Budget decisions have raised alarm bells among DIY investors after they were hit with tax hikes and cuts to incentives, despite the Chancellor’s aim to push more funds into public markets. Over 70 per cent of investors said they were concerned about the increased basic and higher rates of taxes on dividends, property [...]
Monzo snaps up UK mortgage broker in first major acquisition December 16, 2025 UK fintech Monzo has made its first major acquisition with a deal to snap up a digital mortgage broker in a bid bulk up its “all-in-one” superapp. The digital bank announced on Friday it had snapped up Habito, a fintech firm which uses tech to accelerate the home-buying process with free online advice. The deal [...]
Starling revs up Engine with City hiring spree December 16, 2025 Starling is motoring into 2026 with its foot firmly on the pedal, injecting a fresh pump of gas into the group’s technology arm. The UK fintech veteran is planning to shift its software-as-a-service (Saas) banking platform into top gear with a major hiring spree across London. The platform, known as Engine, is a subsidiary of [...]
Motor finance lenders brace for legal battles amid redress spat December 15, 2025 Motor finance lenders have been sent a major warning over a potential influx of legal battles if the UK’s financial watchdog fails to “genuinely compensate” consumers. Britain’s top banks were thought to have been granted some reprieve earlier this year after the Supreme Court sided with upheld the appeals of two lenders in the landmark [...]
HSBC follows Nationwide with branch pledge in bid to woo customers December 12, 2025 HSBC has promised it will not shut any branches in the UK until at least 2027 as the bank ramps up its efforts to appeal to customers. The FTSE 100 titan, which is Europe’s biggest lender, will invest £55.8m into its 327 branches in 2026, a 30 per cent increase on the £42m it spent [...]
Nationwide hit with fine after failing to flag Covid furlough fraud December 12, 2025 Nationwide had been slapped with a £44m fine by the City watchdog for failures in its financial crime controls. The building society giant has been blasted by the Financial Conduct Authority (FCA) for missing opportunities to identify fraudulent Covid furlough payments. The FCA said one customer received 24 payments, totalling north of £27m, over 13 [...]
Big banks SME lending comeback slowed down by Budget jitters December 11, 2025 High street banks’ return to small business lending slowed in the third quarter of 2025 after the chaos on the road to the Autumn Budget dampened activity in the economy. Big banks dished out nearly £4.2bn in total loans to small and medium-sized enterprises (SMEs) in the three months to 30 September – a level [...]
Rachel Reeves’ Budget was ‘monumentally mishandled,’ says London-listed bank December 11, 2025 A London-listed bank has given its scathing assessment of Rachel Reeves’ second Autumn Budget and warned of the impact it will have on consumer confidence. S&U – which was founded in 1938 and once known as Sports and Utilities – said the performance of its motor finance and property financing arms was “remarkably resilient given [...]