JP Morgan makes £10bn UK bet as banks dodge tax raid November 27, 2025 JP Morgan is set to double down on the UK with plans to build its largest European presence through a new tower in Canary Wharf. The US banking juggernaut said it intends to build a new 3m square feet tower in London, which will inject as much as £10bn over the next six years into [...]
Natwest and Lloyds shares soar after escaping Budget tax raid November 26, 2025 Britain’s banking giants have managed to escape a tax raid in the Labour government’s second Autumn Budget. UK lenders have been in the hot seat on the road to 26 November, with Chancellor Rachel Reeves facing lobbying calls across the aisle. But as Rachel Reeves made a £26bn cash grab, which included bookies, landlords and [...]
Budget whiplash: How bank shares were hit by the Treasury’s ‘hokey cokey’ leaking November 25, 2025 Last week the House of Commons speaker reprimanded the Treasury for what he called a “hokey cokey” Budget. “Can I just say it isn’t normal for a Budget to be put in the press,” Sir Lindsay Hoyle said in his dressing down of ministers. “One minute it’s in, next minute it’s out.” Few sectors have [...]
Reeves demands bank chiefs back Budget November 25, 2025 Top bank chiefs are expected to praise Rachel Reeves’ Budget measures, according to reports, as the Chancellor looks set to dismiss calls for extra taxes on the sector. Lenders are being encouraged to back the government and follow through with extra investment plans to support Britons up and down the country, a report in the [...]
UK founders slam Labour as “anti-business” November 20, 2025 UK founders are increasingly losing confidence in Labour’s approach to businesses, as they brace for potential tax rises in the upcoming Autumn Budget. According to the latest survey from entrepreneur network Helm – whose members oversee more than £8bn in annual revenue – over 60 per cent of founders hailed the government as “anti-business” with [...]
Banking chief warns Reeves against ‘quick fixes’ in Budget November 20, 2025 The boss of Britain’s trade association for financial services has warned Rachel Reeves against hiking taxes on banks at next week’s Budget. David Postings, chief executive of UK Finance, said London’s banking sector risked becoming less competitive with European peers if it were to face additional taxes. Speaking at a dinner for City execs at [...]
Unpopular opinion: Banks are taxed enough already November 20, 2025 Is Angela Rayner influencing the Budget from beyond the political grave? The former deputy PM and housing secretary was famously in favour of increasing the additional tax burden faced by banks. Ahead of this year’s Spring Statement, Rayner was riding high. With a confidence that turned out to be misplaced, she inserted herself into debates [...]
Banks back in Reeves’ tax targets amid Budget whiplash November 18, 2025 Britain’s banking giants are back in the Budget crosshairs as Chancellor Rachel Reeves mulls a tax raid on lenders’ profits. Banks had been expected to be spared from a tax grab in the forthcoming Budget due to Reeves’ inclination to protect the financial services sector, following a concerted lobbying effort by top finance chiefs. But [...]
Banking watchdog raises customer protection to £120,000 November 18, 2025 The UK banking watchdog has raised the cap for how much a customer can be paid if their provider fails. The Prudential Regulation Authority (PRA) has hiked the limit to £120,000 from £85,000 meaning additional customer funds will be protected if their lender collapses. The limits come under the Financial Services Compensation Scheme (FSCS), which [...]
Revolut co-founder Nik Storonsky changes his name as new ID rules introduced November 17, 2025 The co-founder of Revolut has changed his name on Companies House ahead of the introduction of new identity verification rules. Nik Storonsky has changed the spelling of his official name as a Revolut director to Nik Storonskiy, corporate filings show, in a move thought to align the spelling with how it appears on other official [...]