Natwest and Lloyds to rake in millions from a ring-fencing shakeup May 16, 2025 Natwest and Lloyds are set for a major cash bump if Chancellor Rachel Reeves rips up the ring-fencing regime imposed on lenders, fresh data shows. FTSE 100 banking giants have lobbied the Chancellor to axe the system, which they described as a “drag on banks”. The bosses of HSBC, Lloyds, Natwest and Santander slammed the [...]
Rachel Reeves’ tax hikes to cost Timpson £12m extra a year May 16, 2025 Chancellor Rachel Reeves’ Autumn Budget tax hikes are set to cost the business empire of fellow government minister Lord James Timpson £12m extra a year, it has been revealed. The Manchester-headquartered group said the increases in employer’s National Insurance contributions and the National Living Wage will eat into its earnings in the years to come. [...]
Natwest: Shares in FTSE 100 giant smash decade high May 15, 2025 Shares in banking giant Natwest notched a ten-year high on Thursday as the government continued to whittle down its stake in the lender. The FTSE 100 giant’s stock was up nearly one per cent during mid-day trading and touched highs of 498.8p. Natwest shares are up nearly 24 per cent since the beginning of 2025 [...]
Labour’s National Wealth Fund hounded with calls for clarity May 15, 2025 Labour’s National Wealth Fund (NWF) faced renewed pressure on Wednesday as the Treasury Committee kicked off its inquiry into the new body. The NWF’s ability to boost economic growth across the country was the subject of questions posed by MPs to investment industry leaders. Its status as a “wealth fund” came under fire against comparisons [...]
Rank: Grosvenor casino owner hits jackpot as laws relaxed May 14, 2025 Rank Group – the owner of UK-based chain Grosvenor casinos – is set to ramp up the number of gaming machines in its casinos after the government said it would relax gambling laws. Shares in the group soared nearly eight per cent on Wednesday morning. The firm said the government’s review of the 2005 Gambling [...]
Treasury pushes captive insurance decision into late summer May 13, 2025 The Treasury will publish the outcome of the captive insurance consultation later this summer, City AM understands
Top private school warns Reeves’ ‘unwelcome’ tax hikes will cost millions May 13, 2025 One of the top private schools in the UK is “taking stock” as it warns Chancellor Rachel Reeves’ tax hikes will cost it millions. Gresham’s School, whose former students include Sir James Dyson – who donated £35m in 2023 – added it will have to now take action to make sure it “does not become [...]
Papa Johns boss brands rising costs a ‘perfect storm of difficulty’ May 13, 2025 The UK boss of pizza chain Papa Johns has branded the rising costs his business is facing as a result of"perfect storm of difficulty".
Harbour Energy to axe 250 jobs as it slams Rachel Reeves May 7, 2025 Harbour Energy has slammed the government’s “punitive fiscal position” as it announced plans to cut 250 jobs in Aberdeen. The London-listed company, which is the largest oil and gas producer in the North Sea, blamed the Energy Profits Levy and a challenging regulatory environment for the decision. It also noted delays in the ramp-up of [...]
Rachel Reeves has promised UK fintech the world – now she must deliver May 4, 2025 Judgement day looms for Rachel Reeves, and UK fintech will be handing her the verdict. In a keynote speech at Innovate Finance’s 11th global summit, the Chancellor confirmed the Treasury’s inaugural Financial Services Growth and Competitiveness Strategy would be published on 15 July. Reeves has lauded the industry’s growth and touted the achievements of fintech [...]