London hot on New York’s heels as financial centre race ramps up September 25, 2025 London is now within a whisker of ousting New York as the world’s leading financial hub, fresh rankings reveal, but risks remain over the capital’s fintech prospects. The City was chomping at the heels of the Big Apple with just a singular rating point between the two. New York once more topped the rankings in [...]
Government urged to amend the Pension Schemes Bill September 24, 2025 The Association of Investment Companies, (AIC) has voiced its frustration at the incoming Pension Schemes Bill failing to include investment companies. The bill aims to strengthen pension investment by giving government powers to push schemes to invest a percentage of their portfolio in private assets. However, in the drafted legislation which is passing through the [...]
‘We’re already at peak government inflicted costs’ BT chief warns Chancellor September 24, 2025 The boss of BT has joined a chorus of chief executives urging the Chancellor not to raise the costs of doing business at her forthcoming Budget, warning the telecoms industry was “already at peak government inflicted costs.” In an on-stage interview with City AM at the Connected Britain conference on Wednesday, Allison Kirkby said: “We [...]
Labour’s mixed messages ‘confuses’ UK government procurement September 24, 2025 The UK government’s £400bn procurement budget used to deliver on key policies and projects has been squandered due to Labour’s mixed messaging on its priorities, a new report exclusively shared with City AM has suggested. The state spends billions of pounds a day for public services, with everything from IT software to fighter jets and [...]
Wages soar to £1.5bn as HMRC ramps up on compliance staff September 24, 2025 HMRC has allocated over £1.5bn for 2024-25 to support staff in compliance, preventing and detecting fraud cases and collecting taxes, representing a 23 per cent increase on its 2021-22 staff bill. According to a freedom of information (FOI) shared with City AM by think tank Parliament Street, over the past fiscal year as part of [...]
Nigel Farage rows back on key migration pledges September 24, 2025 Nigel Farage has appeared to row back on key aspects of his legal migration pledges amid mounting questions over whether his figures stand up as well as fierce criticism from top lawyers and researchers on the viability of his plan to end Indefinite Leave to Remain. The Reform UK leader told LBC on Wednesday morning [...]
Pat McFadden says lifting two-child benefit cap must be budgeted September 24, 2025 Work and pensions secretary Pat McFadden has conceded that any plans to lift the two-child benefit cap must be “budgeted” amid growing calls from key Labour figures for the Tory-era policy to be scrapped. McFadden warned Labour backbenchers that any commitment to lift the cap would have to be funded by higher government revenue. “Everything [...]
Labour has made Britain a beacon of economic stability September 24, 2025 A recent influx of over £110bn in investment from global financial and tech firms as a direct result of the government’s successful economic plan, which fosters stability and reform, thereby creating jobs across the country and proving Britain is open for business, says Lucy Rigby Yesterday, Revolut – one of the UK’s fintech success stories [...]
India Business Group awards celebrate cross-border collaboration September 23, 2025 The deepening commercial relationship between the UK and India was thrust into the spotlight last night as business leaders gathered at the House of Lords for the fourth annual Indian Awards, hosted by the India Business Group (IBG). The gala event came just months after the signing of a landmark Free Trade Agreement between the [...]
Rachel Reeves ‘has no interest in hospitality’ after ‘reckless’ taxes September 23, 2025 Chancellor Rachel Reeves “has no interest in hospitality”, according to nighttime adviser Sacha Lord, who also branded her National Insurance increases in last year’s Autumn Budget “both reckless and short sighted”. Lord, who is a member of the Labour Party, said the 2024 Budget was a “disaster for hospitality” which resulted “in many closures and [...]