CMA launches antitrust probe into Hollywood’s mega merger June 9, 2026 The UK’s competition watchdog has launched a formal merger enquiry into Paramount Skydance’s anticipated $110bn (£86bn) acquisition of Warner Bros Discovery, escalating the regulatory hurdles facing a deal that has already triggered a fierce, multi-front corporate war over Hollywood jobs and executive payouts. The Competition and Markets Authority (CMA) announced Tuesday it has commenced its [...]
Banks ‘not ready’ for motor finance scheme, says City watchdog June 9, 2026 The City watchdog has warned that motor finance lenders are “not as ready as we would expect” for the introduction of its long-awaited redress scheme. Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), has written to the Treasury Committee following inquiries around the legal challenges to its car mis-selling scheme. The regulator published [...]
Banks call for ‘political mandate’ to bolster European defence June 8, 2026 The banking industry has issued a rallying call for a “political mandate” from the UK and EU in a bid to get regulators to open the taps to a fresh flood of defence financing. A new report from UK Finance – which represents the nation’s financial services giants from Lloyds to Revolut – has called [...]
Ovo to cough up £10.4m for exposing vulnerable customers to harm June 3, 2026 Energy supplier Ovo is set to cough up a hefty sum after an investigation by the watchdog concluded that it had left vulnerable customers at risk of harm. The firm – which focuses on smart technology, green energy tariffs, and carbon-reduction goals – will pay £7m into Ofgem’s voluntary redress fund, which is used for [...]
UK has ‘lost control’ of its international narrative, says Barclays June 2, 2026 Barclays has laid bare the investment barriers facing the UK in a new report that states the nation has “lost control of its international narrative” leading to an impact on foreign capital. The banking giant has called for a drastic shake-up of how the UK attracts international capital, following its share narrowing to seven per [...]
Number of claims management firms halves after FCA clampdown June 1, 2026 The number of claims management firms authorised by the UK’s financial watchdog has nearly halved since the beginning of the decade after the regulator “raised the bar” for firms in the sector. A Freedom of Information request by financial services consultancy Broadstone revealed 483 claims management companies (CMCs) operate in the sector, compared with 942 [...]
Wise shares plummet as money transfer firm faces fraud investigation June 1, 2026 Shares in money transfer firm Wise have plummeted this morning as the fintech faces an investigation over allegations its accounts have been used for criminal activity. Prosecutors in Belgium opened an investigation last year after discovering Wise accounts had been flagged in hundreds of international criminal requests that spanned over 30 European countries. The transactions [...]
Top banks urge Rachel Reeves to expand small business lending scheme May 29, 2026 Top UK banks are lobbying Rachel Reeves to beef up the government’s small business lending scheme in a bid to unlock more capital to be lent to firms. A letter penned by UK Finance – the banking industry body that represents the likes of Barclays, Lloyds and Natwest – has called for the Chancellor to [...]
‘Sounds too good to be true?’ City watchdog clamps down on social media insurance scams May 20, 2026 The Financial Conduct Authority is cracking down on insurance scams advertised on social media and messaging platforms after finding half of young drivers have purchased illegitimate insurance premiums this way. The regulator said nearly 40 per cent of drivers aged 17-25 are “unconfident” in spotting the signs of a fake insurance policy, meaning “thousands could [...]
Deutsche Bank hit with six-figure fine in UK for breaching Russia sanctions May 19, 2026 Deutsche Bank has been slapped with a six-figure fine by the Treasury’s financial sanctions body for processing payments that breached sanctions on Russia. The German multinational investment bank has been handed a £160,000 fine after it was found to have authorised two payments linked to a sanctioned Russian firm between the periods of June and [...]