Emergency lifeline for collapsed banks doubled to £3bn May 18, 2026 The emergency credit fund that serves as a lifeline for collapsed lenders has been doubled as a result of “recent regulatory and operational developments”. The Financial Services Compensation Scheme (FSCS) – working in tandem with the Treasury and Bank of England – has hiked its revolving credit facility capacity to £3bn from £1.45bn previously. The [...]
Whitbread: Activist investor pushes for sale of FTSE 100 Premier Inn owner May 18, 2026 An activist investor with a major stake in Premier Inn’s owner Whitbread has called for the FTSE 100 firm to put itself up for sale, attacking its “chronic misallocation of capital”. Corvex Management, which owns 11.8m shares – around seven per cent – in Whitbread, has issued a scathing rejection of the firm’s latest cost-saving [...]
Platinum prices soar amid supply deficit and AI demand May 18, 2026 Platinum group metals saw significant price gains over the course of 2025, after tightening physical supplies and increasing retail and institutional investor interest hiked costs. Platinum’s average price rocketed 33 per cent last year, hitting $1,280 (£985.5) per ounce, up from $960 the prior year, according to the latest report from Metals Focus. The price [...]
Rai sees season prize money jump 700 per cent after US PGA Championship win May 18, 2026 Aaron Rai saw his total prize money for the season rise by 700 per cent after winning the US PGA Championship on Sunday. Staffordshire-born Rai became the first Englishman to win the Wanamaker Trophy in over a century when he won by three shots, from Jon Rahm and Alex Smalley, at Aronimink Golf Club. And [...]
UK businesses stall investments and cut headcount due to Iran war May 18, 2026 Over half of UK firms said they have halted investment and hiring plans due to the economic fallout of the Iran war, contributing to supply chain pressures and higher energy and fuel costs. According to new research from accountancy and advisory firm BDO, 57 per cent of 500 businesses with revenues between £10m and £500mn, [...]
Cubitts plots expansion to Ireland despite swinging to £1m loss May 18, 2026 Cubitts swung to a near-£1m loss in 2025 as the spectacle maker counted the cost of its US expansion plans. The London-based business opened its “first stores outside the warm but grey womb of the UK,” with two sites in New York City. Costs of setting up across the pond pushed the eyewear designer to [...]
UK property taxes are highest in world – and they’re rising May 18, 2026 The UK has the highest level of property taxes of any major economy in the world as a share of the economy, according to new analysis, with new business reforms only set to add to the load. The global tax firm Ryan said the UK suffered a heavier property tax burden than the likes of [...]
Andrew Bailey steers push for Anthropic to meet global watchdog over Mythos May 18, 2026 The global financial watchdog is set to discuss the capabilities of the Mythos tool with Anthropic following a push from Bank of England governor Andrew Bailey. The Financial Stability Board, which brings together finance bigwigs from across the G20 nations, will be briefed on the vulnerabilities in the global financial system identified by Mythos. It [...]
Rachel Reeves to scrap fuel duty hike May 18, 2026 Rachel Reeves is set to scrap plans to hike fuel duty, following pressure over the impact of the Iran war on fuel prices and the cost of living. Fuel duty was first frozen by the Tories in March 2022 and the Chancellor had extended this hold on the rate until the end of August this [...]
EY coughs up over £100m to settle NMC Health court conflict May 18, 2026 Big Four giant EY is understood to have paid over £100m to settle a High Court claim brought by former FTSE 100 company NMC Health that collapsed during a fraud scandal. Both EY and the healthcare provider reached a confidential agreement in February to settle the claims, which were brought four years ago against EY for [...]