FCA eyes 90-day redemption rule on illiquid funds to end mass withdrawals Investing The UK’s financial watchdog has proposed changes to retail investment fund rules in a bid to reduce the risk of rushed asset sales during market volatility. The Financial Conduct Authority (FCA) floated a minimum 90-day notice period for investors withdrawing from long-term investment funds holding illiquid assets such as infrastructure and private equity, in its [...]
Musk turns to rival Anthropic to power Grok Tech Elon Musk has opted to buy competing technology as he is set to use rival Anthropic’s AI models to power parts of Grok, despite spending heavily to build his own AI challenger. Musk said on Wednesday that the Grok bot would use the “best back-end model for any given task”, including Anthropic’s latest Claude Opus [...]
Howard Buffett to succeed father Warren as Berkshire Hathaway chair Investing Berkshire Hathaway has named Howard Buffett as chair as his father Warren Buffett steps down after six decades at the helm of the conglomerate. Howard’s elevation comes as billionaire Warren moves into the role as chairman emeritus of the company, according to a letter published to shareholders on Friday. The elder Buffett will also remain [...]
Richard Branson says UK must ‘make it easier’ to be an entrepreneur August 11, 2026 Sir Richard Branson has called on policy makers to do more to support and “champion” British entrepreneurs. The founder of Virgin Group, who launched his iconic business selling records in 1970, said the UK must go further to create an environment where entrepreneurs want to set up and run a business. Writing in City AM, [...]
Triumph for Tesla as top court rules 5G licensing case should be heard in UK July 27, 2026 The UK’s highest court has given the green light for Tesla to revive a lawsuit over 5G licensing in its electric cars, after the case was previously dismissed by a panel of judges three years ago. Elon Musk’s carmaker, one of the largest global manufacturers of electric vehicles, sued Avanci, a Texan company that supplies [...]
Starmer took sport freebies worth tens of thousands of pounds while PM July 17, 2026 Outgoing Prime Minister Sir Keir Starmer took sport-related freebies worth tens of thousands of pounds in his two years at Downing Street. Official data declared by the Prime Minister in the register of accepted gifts and hospitality shows the sport-mad leader has enjoyed £33,000 worth of perks since winning a landslide victory for his Labour [...]
Plus500 revenue surges as US prediction markets drive growth July 13, 2026 Plus500 reported a rise in revenue after the trading platform pushed into the surging US prediction markets. Revenue reached a three year record high, increasing 12 per cent year on year to $462.9m (£346m). The firm also pinned the performance on “heightened market volatility”. Earnings before tax remained flat at $187.5m, after growth was offset [...]
Sadiq Khan lobbies Burnham to appoint Miliband as Chancellor July 11, 2026 London mayor Sadiq Khan has weighed into the debate over who should be the next chancellor, lobbying Andy Burnham to select Ed Miliband for the job. In a private discussion with Burnham, Khan argued that Miliband had both the political skills and economic expertise to deliver Burnham’s agenda, including devolving powers to city regions, people [...]
Making Miliband chancellor would be a ‘mistake’, Trump officials warn July 4, 2026 Senior officials in president Trump’s administration have privately warned that appointing Ed Miliband as chancellor would be a “mistake”, as speculation over who will take over from Rachel Reeves grows. US officials told their counterparts in Britain, as well as senior Labour figures, that they were concerned about Miliband’s opposition to new oil and gas [...]
‘That’s reality’: Burnham will have to focus on international affairs, Starmer warns July 4, 2026 Outgoing prime minister Keir Starmer has warned his expected successor that he will have to focus on dealing with global turmoil, arguing the world is “more dangerous and volatile”. In his first interview since announcing his resignation last month, Starmer said Burnham, who is anticipated to enter No 10 in the coming weeks, will be [...]