Bank of England hits Mastercard subsidiary with £12m fine July 9, 2025 A Mastercard-owned company has been fined almost £12m by the Bank of England after it failed to fully comply with a regulatory order to fix weaknesses in its risk management. Vocalink – which was acquired by Mastercard in 2017 – has been slapped with the £11.9m fine due to failing to meet directions from the [...]
Bank of England warns on market impact of Trump tariffs July 9, 2025 The Bank of England has warned the UK could be particularly affected by further shocks to markets as a result of being “an open economy with a large financial sector”. The Bank’s Financial Policy Committee (FPC) warned that while bond markets had deteriorated, they could be in a worse position if President Trump followed through [...]
Sir Robert Chote to leave UK Statistics Authority July 8, 2025 Sir Robert Chote has resigned as chairman of the UK Statistics Authority, which oversees official data published by a range of bodies including the Office for National Statistics. The UK Statistics Authority, an arms-length government body, has been involved in scrutinising the ONS’s troubles. Chote, who joined the UK Statistics Authority in 2022, will become [...]
Brits pour scorn on Labour after week from hell July 7, 2025 Brits have delivered a withering verdict on Labour after a week in which the anniversary of their election victory was marred by shambolic u-turns and infighting. Following the dramatic events of last week, voters’ disapproval of the government appears to have intensified with a growing number of Brits opposing the government’s high-tax-high-spending policies, according to [...]
Bank of England ‘open minded’ on use of stablecoins in wholesale markets July 3, 2025 A director at the Bank of England has said Britain’s central bank is “open minded” on the use of stablecoins in wholesale markets in a marked softening of its stance in the technology. Speaking at the City Week conference, Sasha Mills, Executive director of Financial Market Infrastructure, said the Bank was “considering” what role stablecoins [...]
Consumer spending drives ‘healthy pickup’ for UK businesses July 3, 2025 Consumer and business spending has led to a “healthy pickup” in business activity, fresh research has suggested, despite concerns income had been squeezed by higher taxes and energy bills. The Labour government was recently dealt a blow as the Office for National Statistics (ONS) revealed the UK economy contracted by 0.3 per cent in April, [...]
Bank of England policymaker urges faster interest rate cuts July 2, 2025 Bank of England dove Alan Taylor has urged his colleagues on the Monetary Policy Committee to vote for faster interest rate cuts to allow a “soft landing” on the inflation path. Bank officials voted to hold interest rates at 4.25 per cent in June, with inflation bouncing back up to 3.4 per cent in April [...]
Bailey watching labour market softening ‘very closely’ June 26, 2025 Andrew Bailey has said his Monetary Policy Committee are watching signals of a rapidly softening labour market “very closely” in the wake of several soft employment readings and stark warnings of a slowdown from the recruitment industry. The Governor of the Bank of England told the British Chambers of Commerce’s summit that sticky wage growth [...]
Trump to make state visit UK in September despite King’s concerns June 25, 2025 US President Donald Trump is set to make a full state visit to the UK in September in a further sign of Prime Minister Starmer’s efforts to bring the two countries closer together. But King Charles preferred an initial informal visit that would represent a less eventful trip amid threats made to Canada’s sovereignty, according [...]
Graduate jobs at ‘weakest level since 2018’ as Reeves’ taxes rattle firms June 25, 2025 Graduate jobs are now at their “weakest level since at least 2018”, fresh data has suggested, as Chancellor Reeves’ tax hikes on employers have made bosses avoid hiring junior workers. The UK government has made job creation a crucial part of its efforts to grow the economy and improve living standards for Brits after years [...]