Rachel Reeves: Higher taxes on wealthy ‘part of story’ for Budget October 16, 2025 Rachel Reeves has confirmed a tax grab on the UK’s wealthy will be “part of the story” for her forthcoming Autumn Budget as she dismissed critics who fear an exodus from the nation’s richest. The Chancellor has faced rallying calls to launch a cash grab on the wealthy as she looks to strum up funds [...]
UK economy grew 0.1 per cent in August October 16, 2025 The UK economy grew by 0.1 per cent in August, Office for National Statistics (ONS) figures have shown, with a struggling construction sector in the month weighing down on output across the UK. The ONS data indicated on Wednesday morning the UK economy was set for a significant slowdown after an upswing in spending over [...]
FTSE 100 Live: GDP ‘stumbles’ to end of year, Premier Inn owner’s earnings dip October 16, 2025 Good morning from the City AM liveblog team. Amid all the doom and gloom, it was a moment to cheer for bankers in the Square Mile yesterday. Rules governing bonuses are getting relaxed, which could lead to a tastier payout come the new year. The new rules will allow part-payment of bonuses for the most [...]
Should we be worried about AI market concentration? October 16, 2025 An interesting statistic caught my eye this week on reading the IMF’s report into global financial stability. The report cited a decades-old measure known as the Herfindahl-Hirschman index. While hardly catchy, the Herfindahl-Hirschman index is a simple tool for assessing the dominance of certain players within the market. The higher the number, the greater the [...]
Reeves faces ‘Groundhog Day’ as Budget tax hikes loom October 16, 2025 Chancellor Rachel Reeves risks having to hike taxes ever higher in forthcoming budgets if she leaves herself with £9.9bn in headroom, a joint report by Barclays and the Institute for Fiscal Studies (IFS) has warned. The research has suggested that spending cuts would send a “crucial” signal to the bond markets that the government had [...]
Banker bonus rules are getting watered down. Will anyone shed a tear? October 16, 2025 When the European Banking Authority published its guidelines on executive pay in 2015, the report pronounced on 126 separate rules spread across 173 pages. Any banker able to get through the whole rulebook without falling asleep surely deserved every penny of the eyewatering bonus they received – provided it met the guidelines. The EBA’s voluminous [...]
Britain must rediscover radicalism October 16, 2025 There’s plenty of talk about growth from our politicians, but precious little radical thinking about how we unleash innovation, back risk-takers and rip up the planning system, says John Caudwell As party conference season closes, we’re left again with a familiar chorus of promises – growth, reform, renewal. Politicians across the spectrum have dusted off [...]
We have to get serious about major spending cuts October 16, 2025 Speculation over the contents of next month’s Budget has reached fever pitch, and it’s only going to ramp up from here. This is not idle curiosity; with businesses still adapting to the confidence-sapping and job-smothering fallout from last year’s Budget, there is now a genuine fear that what remains of our economic resilience could be [...]
Autumn Budget: Reeves must focus on growth, not ‘gimmicks’ October 16, 2025 Ahead of the Autumn Budget, City Reporter Samuel Norman sits down with top industry names for a Budget Briefing. This week, the chief executive of founders club Helm calls for bold innovation policies took take centre stage. Chancellor Rachel Reeves should use her second Autumn Budget to make bolder swings for the UK’s innovation economy [...]
Wall Street banks toast to $130bn revenue in deal making boom October 15, 2025 Wall Street banks raked in bumper profits, comfortably breezing past analyst expectations in the third quarter, driven by the continued strength of trading desks and a sharp revival in deal making. JP Morgan, Goldman Sachs and Citigroup brushed past estimates on Tuesday, with Jamie Dimon’s banking juggernaut collecting $14.4bn (£10.8bn) in profit – a 12 [...]