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 [...]
Lloyds and Natwest shares fall in ‘perfect combination’ of fears November 14, 2025 Lloyds and Natwest shares were among the top fallers on the FTSE 100 index on Friday as a combination of fears weighed upon City stocks. The FTSE 350 bank index lost 2.17 per cent over the course of the day amid a widespread sell off across the blue-chip index. The FTSE 100 fell 1.1 per [...]
HSBC on hunt for new Europe chief after top boss departs November 13, 2025 HSBC is on the new hunt for a new top boss at its continental Europe arm with its current chief set to depart at the end of the year. Europe’s largest lender said on Thursday that Andrew Wild would exit his role after nearly four years due to family reasons. Wild first joined the bank [...]
TSB’s profit soars ahead of Santander takeover November 13, 2025 Profit at high street unit TSB Bank soared in the third quarter as the lender readied the ground for its blockbuster takeover by Santander. The bank’s pre-tax profit hit £271m for the first nine months of the year – a 38.2 per cent jump from the same period in 2024. It came as the bank [...]
UK banks send regulation warning as private credit threat rises November 11, 2025 Top bosses of UK banks have fired a warning shot over the country’s status as a competitive financial hub as the government’s efforts to overhaul regulation risk missing the mark. Michael Roberts, the top boss of HSBC Bank and chief of corporate and institutional banking, told lawmakers on Tuesday the Treasury’s deregulation work was a [...]
Banks set to escape tax raid from Rachel Reeves after lobbying November 6, 2025 Rachel Reeves is expected to avoid a cash grab on Britain’s banking titans in her forthcoming autumn Budget after the industry flagged concerns around international competitiveness. The Chancellor is understood to be hesitant on targeting the banks for a cash raid after a string of warnings from top industry chiefs on the impact on economic [...]
Lloyds boss ‘concerned’ with motor finance impact on UK investability November 5, 2025 The boss of Lloyds Banking Group told has lawmakers there was a “deeply important” investability issue in the financial watchdog’s proposed motor finance redress scheme. Charlie Nunn said, in a session with the House of Lords Financial Services Regulation Committee on Wednesday, he was “concerned” about investability and sentiment towards the UK following the regulator’s redress. “Having a [...]