Barclays boss: UK banks are taxed too much September 12, 2025 Ahead of the Autumn Budget, Barclays’ chief executive has called on the government to curb pay rises for public sector workers and to avoid increasing taxes on banks. Speaking to the Financial Times, CS Venkatakrishnan said “we need to find a way to curb wage inflation,” and emphasised the need to curb expenditure at the [...]
UK economy sees zero growth amid Labour’s summer troubles September 12, 2025 The UK economy failed to grow in July, according to official data, with the Labour government struggling to drive growth despite its core commitment to do so. The Labour government has doubled down on its “growth mission” by making a string of new economics-focused appointments across ministerial and advisory roles, and establishing a business-friendly board [...]
FTSE 100 Live: UK GDP flatlines, Big Technologies shares tumble after legal twist September 12, 2025 Good morning from the City AM liveblog team. UK GDP flatlined in July, latest figures from the ONS show, in another setback for the Chancellor in delivering on her pledge to grow the economy. The FTSE 100 is fighting through the noise as it opened above 9,300 this morning, rising by 1.2 per cent in [...]
Labour using ‘sticking plasters’ and failing to attract foreign investment September 11, 2025 The Labour government is opting to use quick “sticking plasters” which fail to affect long-term change to attract foreign direct investment (FDI), according to a new report. The report from Caudwell Strong Britain, a research project of think tank Council on Geostrategy, argues that the government needs to remove the structural barriers that hinder foreign [...]
Week in Business: Businesses flee high-tax Britain September 11, 2025 On the same day that Reeves said "there's no growth without investment", a pharma giant pulled its £1bn London investment plans.
Reeves, beware the bond vigilantes: the dark knights of the City September 11, 2025 As UK 30-year gilt yields surge to record levels, Tim Focus warns Chancellor Reeves of the threat of bond vigilantes.
Klarna could trigger a fintech IPO boom but can London benefit? September 11, 2025 Klarna’s hot debut on the New York Stock Exchange has opened the doors for a flood of fintech listings but analysts are raising concerns whether the London market can enjoy this new stream. The Swedish fintech unicorn’s stock popped 15 per cent from its IPO price of $40. Shares closed at $45.82 after raising $222m. [...]
Rachel Reeves explores ‘pro-growth tax reforms’ to business rates September 11, 2025 Rachel Reeves will explore “fixing” cliff-edge business rates, which make small businesses pay higher taxes upon opening a second property, as part of reforms she has described as “pro-growth.” The Chancellor is reviewing changes to the small business rates relief, with a decision expected to be announced at the Autumn Budget on 26 November. Treasury [...]
Brits shy away from buying houses as uncertainty over property tax increases September 11, 2025 Buyer inquiries and sales slipped in August, with ‘ongoing uncertainty’ putting the brakes on the UK’s housing market, according to new data. Agreed sales slipped sharply, with a net balance of 24 per cent of property professionals seeing transactions fall, up from a balance of 17 per cent the previous month, the Royal Institution of [...]
Mark Kleinman: City would sour on Reeves after bank tax September 11, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. This week he tackles what a bank tax would do to Reeves’ hard-earned City cache, a top pick for the new HSBC chair, and Oaknorth’s potential move abroad Will she or won’t she? The question of [...]