HSBC sells UK life insurance arm in latest European retreat July 3, 2025 Banking juggernaut HSBC has marked its latest retreat on European operations after selling its UK life protection arm to insurance firm Chesnara. HSBC have offloaded the division for £260m, which Chesnara will fund through a combination of external resources, credit facility and a equity raise. The move comes amid Georges Elhedery‘s sweeping changes at the [...]
Eurostar to launch direct services from London to Frankfurt and Geneva June 10, 2025 Eurostar has announced plans to launch direct services from London to Germany and Switzerland for the first time. The cross-channel operator is looking to purchase 50 new trains at a cost of £1.7bn to service the routes, which are expected to run from the “early 2030s”. Journey times are expected to last around five hours [...]
London suffering from UK economic malaise, NatWest data suggests June 9, 2025 Businesses in London saw output decline for the second consecutive month in NatWest’s growth tracker – yet there is some optimism that the capital’s economy could resurge. Firms widely reported Chancellor Reeves’ tax hikes and a rise in energy bills, which kicked into effect in what has been dubbed ‘Awful April’, contributed to a decline [...]
UK dominates European investment appeal despite drop in activity June 9, 2025 The UK has continued to storm ahead of its European rivals as the region’s most attractive destination for financial services investment, despite a sharp drop in activity. The UK recorded 73 foreign direct investment (FDI) projects in 2024, a steep 32 per cent drop from 108 the previous year, according to EY’s latest Attractiveness Survey for [...]
ECB cuts interest rates as UK ‘hesitation’ risks dealmaking strength June 5, 2025 Interest rates in the eurozone have been cut, taking the deposit facility rate to two per cent as fresh data suggested inflation came in just under the European Central Bank (ECB)’s two per cent target rate in May. The cut means the ECB’s rate now stands at two per cent, a halving of rates set two [...]
Revolut: UK is ‘entrepreneurial hub of Europe’ May 28, 2025 UK entrepreneurship has stormed ahead of its European rivals, according to findings from the region’s most valuable fintech company. Fresh data from Revolut’s business arm shows half of British businesses using its services are startups, a figure that dwarfs its European counterparts. Their closest rivals, the Netherlands and Ireland, sit at near 40 per cent. [...]
HSBC cuts more investment bank roles in latest European retreat May 27, 2025 HSBC has reportedly given more than two dozen analysts in its investment banking division the chop as the bank’s boss presses on with his sweeping overhaul. The firm’s cuts primarily focused on Europe, where the lender has continuously signalled a winding down of operations. The banking juggernaut slashed ten per cent of its work force [...]
Is HSBC turning its back on Europe? May 20, 2025 When Georges Elhedery took the helm at HSBC, he wasted no time making his mark on the firm. Elhedery plotted a “simpler, more dynamic and agile organisation” in his sweeping restructure first announced in October 2024. One significant change introduced by the new bank chief was splitting the business into “eastern markets” covering the Asia-pacific [...]
SSP: Upper Crust owner’s shares surge after profit soars May 20, 2025 Owner of Upper Crust bakery chain SSP Group grew across a number of business lines in its half-year report as revenue soared, despite some headwinds in Europe. The FTSE 250 firm recorded £45m in operating profit – up 20 per cent growth from the first six months of 2024. Shares soared nearly four per cent [...]
European leaders talk of war, but I keep getting out of offices May 20, 2025 Europe talks a hard game on defence, so why is the ministry of defence more concerned with horse dentists, asks Michael Martins.