Relief for fintech startups as government plans new short-term FCA licences December 4, 2025 Fintech startups could be about to start trading much sooner after the government signalled plans to issue temporary licences in advance of getting full accreditation. Startups often suffer delays of months or even over a year as they wait for regulators at the Financial Conduct Authority (FCA) to grant them authorisation, during which they burn [...]
Bank of England launches groundbreaking private credit stress test December 4, 2025 The Bank of England has launched its first ever stress test of the fast-growing private credit industry, in a bid to establish how the opaque sector would respond to a range of economic and financial shocks. The undertaking, called a ‘system-wide exploratory scenario exercise (SWES)’, will work with some of the industry’s biggest players to [...]
Lloyds boss: Forcing banks to hoard capital is slowing UK growth December 4, 2025 The boss of Lloyds Banking Group has called on the government to take its deregulation mission further to ramp up economic growth. Charlie Nunn, chief executive of Lloyds Banking Group, welcomed recent regulatory progress, including the Chancellor’s Leeds Reforms package, but added “they are just at the start – there is more to do”. “The [...]
Construction in worst downturn for five-and-a-half years December 4, 2025 The construction sector suffered its worst downturn in output for five and a half years last month, new figures have shown, in a warning to the Labour government as it hopes to build 1.5m homes by 2030. A monthly S&P Global survey showed that the decline in output rapidly accelerated over the month, with the [...]
Butlin’s back in profit after losing almost £75m December 4, 2025 Butlin’s has recovered from losing almost £75m to return to the black during its latest financial year, it has been revealed. The holiday resort chain has posted a pre-tax profit of £28.3m for 2024, according to new accounts filed with Companies House. That comes after Butlin’s fell to a pre-tax loss of £74.2m for 2023. [...]
Growing threats to UK financial stability December 4, 2025 What keeps you up at night? For the governor of the Bank of England it’s a long list of threats to the UK’s financial system – so let’s take a look at them. The Bank of England’s latest financial stability report makes for a sobering read. It says “risks to financial stability have increased during [...]
Reform UK receives £9m donation from billionaire businessman Christopher Harborne December 4, 2025 Reform UK has received the largest ever political donation from a single living person as Thai-based billionaire Christopher Harborne injected £9m into the party. Reform’s precursor organisation, the Brexit Party, previously received donations from Harborne in 2019 and 2020 but it had not yet received donations directly from the billionaire. His £9m donation in August [...]
Strap a rocket to UK banks or watch the City drift, shadow chancellor warns December 4, 2025 Shadow chancellor Mel Stride has called for a tearing down of burdensome City regulation to power up the financial services sector and avoid it losing status. The Tory MP said the pendulum has swung “too far in favour of trying to iron… [and] squeeze risk out of the system”. Stride called for a “bonfire of [...]
World Darts Championship to leave Ally Pally’s West Hall next year December 4, 2025 The future of darts at Alexandra Palace has been resolved, with organisers of the World Darts Championship agreeing a new five-year contract to stay in north London. But the annual end-of-year jamboree is set to relocate from the venue’s West Hall to the Great Hall from next year, in a move that will help the [...]
Pubs to stay open until 1am if Home Nations reach Fifa World Cup knockouts December 4, 2025 Pubs will stay open until 1am if England, Scotland, Wales or Northern Ireland reach the final stages of the 2026 Fifa World Cup. Home Secretary Shabana Mahmood confirmed that “the party won’t end before the final whistle is blown”, adding that “if any [home] nation reaches the final stages, we will extend licensing hours”. The [...]