Spending Review: Reeves leaves London short-changed June 11, 2025 Chancellor Rachel Reeves’ inaugural Spending Review fell short for London, the capital’s business advocacy group has said. Reeves’ announcements on infrastructure, transport and skills were received warmly but BusinessLDN has said the Chancellor had failed to fully deliver, leaving the capital “short-changed”. The Spending Review included a four-year settlement for Transport for London with the [...]
Global growth to brake to ‘slowest pace’ since financial crash, World Bank says June 10, 2025 The world economy is heading for its worst year since the 2008 financial crash, the World Bank has predicted, as most major economies suffered a growth downgrade due to trade tensions sparked by President Trump’s tariffs. The UN-backed financial institution has predicted that global growth will come down to 2.3 per cent this year as [...]
London to lose out on major local growth funding in Spending Review June 10, 2025 The London Mayor has doubled down on his crusade against the terms mandated by the Treasury’s Spending Review amid concerns over losing access to local growth funds. London and other English regions could lose access to the £2.6bn UK Shared Prosperity Fund, Growth Hub Funding, and the £4.8bn Levelling-Up Fund. A source close to the [...]
Londoners most at risk of online fraud, report reveals June 10, 2025 Londoners are at significant risk of digital and financial exclusion after new data revealed one in four people in the UK capital lack confidence in money management. According to research from WPI Economics and Virgin Money, Londoners are twice as likely to experience both digital and financial exclusion than those living in the South East. [...]
London ‘left out’ of Reeves’ spending review June 9, 2025 London will find itself low on the chancellor’s agenda in the upcoming spending review, reports suggest. London Mayor Sadiq Khan has been lobbying for extending the DLR to Thamesmead, and the Bakerloo line to Lewisham. However, getting the requisite funding to grow the transport system is looking unlikely. Bringing the Bakerloo line further south is anticipated [...]
TikTok to create over 500 UK jobs as major plans revealed June 9, 2025 TikTok is to create more than 500 UK jobs and open a second office in London, it has been revealed. The Chinese-owned social media firm has confirmed its UK workforce will expand to 3,000 by the end of 2025 and it will open a new 135,000 sq ft office in London’s Barbican. The group already [...]
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 [...]
This is what London needs in the spending review June 9, 2025 We need radical action if we’re going to hit the target of building 88,000 homes a year, more powers for the Mayor and improvements to productivity to get London out of the cycle of spending cuts and tax rises, says John Dickie In less than a week, the Chancellor will fire the starting gun on [...]
Week in Business: Warning lights in the City as another firm quits London for New York June 5, 2025 The trend has been clear for some time and the evidence points to a story of decline for the UK's capital markets.