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 [...]
John Lewis blames higher taxes as it swings into the red September 11, 2025 A rise in national insurance contributions and a packaging levy has ‘significantly’ impacted John Lewis, with the retailer reporting a half-year loss despite an increase in revenue. The company, which also owns Waitrose, reported a loss before tax and exceptional items of £33m for the 26 weeks ended 26 July. It has been “significantly impacted [...]
FTSE 100 Live: Trainline stock soars, BP and Shell edge higher September 11, 2025 Good morning from the City AM liveblog team. Shares in Shell, BP, Playtech and Trainline were among the biggest risers in the London markets this morning, after the latter two reported earnings that sailed past analyst expectations. The government’s growth ambitions were dealt another hammer blow last night, after US pharma giant Merck pulled the [...]
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 [...]
High street banks’ SME lending comeback inches forward September 11, 2025 High street banks’ return to small- and medium-sized enterprises (SME) inched onwards in the second quarter. The big banks have turned back to the area as the government clamps down on smaller firms’ difficulty accessing finance. Top bosses were summoned earlier this year for talks with ministers covering how to improve lending to SMEs. In [...]
Labour should be honest about the tax rises to come September 11, 2025 Trying to raise tens of billions of pounds in revenue without touching the three taxes that account for the lion’s share of the total tax haul is like trying to build a bookcase without any nails, screws or glue. You could try it, but you’ll soon regret the attempt. As things stand, Rachel Reeves is [...]
Merck warns UK is ‘not internationally competitive’ as it scraps £1bn London research centre September 10, 2025 Merck has pulled out of a planned £1bn London drug research centre in the latest blow to the government’s growth agenda. The US pharma giant is to lay off 127 staff alongside abandoning the construction project, which had been set to open in King’s Cross in 2027. The firm warned the UK would lag behind [...]
Starmer backs Mandelson amid calls for his sacking September 10, 2025 Keir Starmer has said he has “full confidence” in the UK’s ambassador to the US Peter Mandelson despite calls from his own backbenches for him to be sacked over new revelations about his links to the notorious Jeffrey Epstein. The prime minister said “due process” was followed around Mandelson’s appointment to his key ambassadorial role [...]
Chancellor concedes higher taxes could hit economic growth September 10, 2025 Chancellor Rachel Reeves has acknowledged higher taxes could impact economic growth as she seeks to increase private investment in the UK. Speaking at the British Private Equity and Venture Capital Association summit, the chancellor told investors she had to hike taxes in her maiden budget in order to place finances on a “firm footing and [...]