Reeves has instigated a wealth and talent exodus: welcome to REXIT December 4, 2025 This year has seen the biggest single wealth exodus ever recorded, and they are taking an estimated $91.8bn USD out of the country with them, writes Jamila Robertson Rachel Reeves’ now historic Budget carried on where her last left off – bruising business, threatening jobs and further squeezing working people. It raised taxes by £26bn; [...]
Accountants expect price hikes and job cuts following Budget December 4, 2025 A chartered accountancy body has urged the government to consult on a path to a single VAT rate to simplify and restore business confidence following the Autumn Budget. The Institute of Chartered Accountants in England and Wales (ICAEW), which represents over 140,000 UK members, reported negative overall sentiment toward the recent Budget. According to exclusive [...]
Starmer blames sweeping tax hikes on Tories December 3, 2025 Keir Starmer blamed sweeping tax hikes at the Budget aimed at funding extra welfare spending and building a larger fiscal buffer on the previous Conservative government’s economic performance. Responding to questions from opposition leader Kemi Badenoch on whether tax rises were necessary, Starmer pointed the finger at a £16bn downgrade to productivity forecasts by the [...]
Paragon Banking chief eyes acquisitions after capital boost December 3, 2025 The boss of Paragon Banking Group has acquisitions in mind after the lender received a major tailwind from regulatory reforms this year. Nigel Terrington has said the loosening of banks’ capital requirement rules, known as MREL (minimum requirement for own funds and eligible liabilities), will open up further growth prospects for mid-cap lenders. The boss [...]
Smiths Group strikes deal to offload detection business for £2bn December 3, 2025 London listed Smiths Group is set to offload another of its businesses, as it works to streamline its operations after bowing to increasing investor pressure. The FTSE 100 company has agreed to sell its Smiths Detection division to private equity firm CVC Capital Partners in a £2bn deal. The business manufactures threat detection technology, including [...]
Businesses shed staff at ‘fastest rate since February’ December 3, 2025 Businesses laid off staff at the fastest rate in nine months as growth in the UK economy suffered a “renewed slowdown”, new data has indicated. S&P Global’s purchasing managers’ index (PMI) for November suggested growth marginally changed over the month, with researchers pointing the finger at pre-Budget speculation keeping bosses on edge. The composite PMI [...]
Powervault: London Mayor-backed Tesla battery rival collapses December 3, 2025 Battery storage firm Powervault, which had been tipped to become the UK rival to Tesla, has collapsed into administration, City AM can reveal. The London-based company, which had been backed by the Mayor of London’s Greater London Investment Fund as well as the British Business Bank, has appointed administrators Menzies to oversee its wind-down, according [...]
FCA chief ducks committing to investigating Treasury briefings December 3, 2025 The boss of the City watchdog appeared to skirt committing to investigating Treasury briefings when pressed on the Labour government’s “possible market abuse” on Wednesday morning. Nikhil Rathi, chief executive of the Financial Conduct Authority, has been lobbied by the Conservatives and other opponents to the Labour government to look into the rogue briefings on [...]
The 68p lawsuit that threatened to upend the British bond market December 3, 2025 In 2023, the Financial Conduct Authority set out to modernise the bond market. A noble ambition. But as many seasoned City execs will tell you, noble ambitions from regulators don’t always work out how they were intended. The FCA proposed to introduce what’s known in industry jargon as a consolidated tape – a system which [...]
Whitehall was ‘shambolic’ in dealing with collapsed China spy case December 3, 2025 Whitehall officials presided over “shambolic” proceedings in the prosecution of two alleged Chinese spies, a report has suggested, with both government officials and prosecutors coming under fire over the collapse of the case. A report by parliament’s Joint Committee on the National Security Strategy said the collapse of the prosecution against former parliamentary researcher Christopher [...]