Banks shut eight branches a week since 2016 July 10, 2025 British banks have accelerated their retreat from the high street, shutting an average of eight branches a week since 2016 in a dash to bulk up digital offerings. Nearly 3,700 sites closed between 2016 and 2024, creating 41 ‘banking deserts,’ which refer to local authorities where at least one branch shut for every 10,000 residents. [...]
Starmer urged to ‘be honest’ about tax plans as business confidence slumps July 10, 2025 Business confidence has slumped to a three-year low as a “cocktail of costs” including higher taxes and tariff threats pour cold water on Keir Starmer’s claims of rising corporate optimism. The prime minister told MPs on Wednesday afternoon that business confidence had hit a nine-year high, citing a recent Lloyds Business Barometer, which typically reveals [...]
UK and France agree to co-ordinate on nuclear deterrent July 10, 2025 The UK and France will co-ordinate more closely over nuclear deterrent plans, with any adversaries “threatening the vital interests” of either nations set to face a joint response to attacks. In a new agreement struck between Keir Starmer and Emmanuel Macron, the two countries will work together on nuclear research and take a more aligned [...]
Labour’s tax addiction will end in tears July 10, 2025 It is now pretty much universally accepted that the government will launch a fresh tax raid in October’s budget. City economists expect the Treasury to be on the hunt for between £10bn and £20bn of additional revenue, though given the expensive u-turns on winter fuel payments and welfare reform combined with likely lower growth forecasts [...]
The Bank of England is dying for data on private markets July 10, 2025 City Editor Simon Hunt on the stories that caught his eye this week Andrew Bailey’s svelte profile has attracted much City chatter the past year. Some say the guv’nor has a strict exercise regime to lose weight; skeptics reckon it’s Ozempic. Here’s my theory: Bailey is wearing so many different hats, the constant switch between [...]
Fintech leads surge in London finance hiring July 10, 2025 Fintech helped lead roaring growth in London’s finance hiring for the second quarter of the year as demand for risk professionals surged amid a more moribund jobs market for traditional lenders. New financial services jobs vacancies rose three per cent quarter-on-quarter, according to Morgan McKinley’s London Employment Monitor while Greater London fintech hiring is expected [...]
UK loses more billionaires than any other country July 9, 2025 The UK has lost the most billionaires of any country in the world in the last two years, fresh data has shown, exacerbating fears that Britain’s footloose super-rich residents would continue to flee the country if forced to pay a wealth tax. According to updated numbers from New World Wealth, the UK lost a quarter [...]
French AI boss calls for youth mobility scheme July 9, 2025 The boss of one of France’s most successful tech start-ups has thrown her weight behind calls for a youth mobility scheme between the EU and UK, warning that Europe must have access to deep pools of talent to stand a chance of competing in the AI arms race. Eleonore Crespo, co-founder of business planning unicorn [...]
Peter Kyle hits back at claims Labour is too close to Big Tech July 9, 2025 Tech secretary Peter Kyle has hit back at criticism that the Labour government is cosying up to Big Tech, insisting he’s “doing the job” by securing the best deals for Britain. Speaking at a Google Cloud event in London on Tuesday, Kyle addressed recent reports flagging the number of meetings he’s had with US tech [...]
UK Hospitality launch campaign to undo budget ‘hammer blow’ to sector July 9, 2025 Industry lobby group UK Hospitality has launched a campaign to reverse the “unfair” tax burden on the sector, #TaxedOut. The body has been vocal about the damage caused by higher taxes announced in the Autumn budget, estimating that 69,000 jobs have been lost since last October. “The 2024 Budget was a hammer blow to hospitality… [...]