What will stricter buy now pay later regulations mean for Klarna? May 20, 2025 The government is clamping down on the “wild west” of buy now, pay later (BNPL) but this could spark trouble for industry veterans in a competitive sector. The Treasury is set to bring BNPL providers under the supervision of the Financial Conduct Authority, meaning they will have to adhere to the stricter frameworks of the [...]
Starmer and Badenoch face off over EU deal May 20, 2025 Prime Minister Keir Starmer has defended his EU ‘reset’ deal in the House of Commons amid criticism from opposition MPs that the pact unpicks Brexit and sells out the fishing industry. Starmer told MPs that businesses’ reaction to the EU deal was so supportive that he didn’t “have time to run through the list” of [...]
Reeves’ risky borrowing policies prompt fresh tax hike fears May 20, 2025 Tax hike fears are gathering pace as rising borrowing costs are set to wipe out around half of Chancellor Rachel Reeves’ small £9.9bn headroom, a leading economics consultancy has warned. Reeves made around £14bn in spending cuts at her Spring Statement two months ago but left herself with one of the slimmest fiscal buffers on [...]
Insolvency levels hit highest level in eight months in Awful April May 20, 2025 April insolvency levels soared to their highest level in in eight months, official data has shown, reflecting businesses’ helplessness in the face of higher employment costs and the looming threat of President Trump’s tariffs. Over 2,000 companies collapsed last month, with most owners filing for voluntary liquidation and some 105 firms going into administration. If [...]
Starmer meets BlackRock’s Larry Fink for growth talks May 20, 2025 The Prime Minister this morning met the boss of the world’s largest money manager, in the latest such conversation as part of ministers’ growth agenda. Sir Keir Starmer held discussions with Larry Fink, who leads the $11.6tn giant BlackRock. Fink was pictured leaving Downing Street on Tuesday morning. This follows on from the American billionaire’s [...]
Trio of trade deals puts UK in better position “than any other country,” Rachel Reeves says May 20, 2025 Chancellor Rachel Reeves has said the UK is now in a better place on trade “than any other country in the world” after securing new trade agreements with India, the US and the EU this month. Reeves said the agreements have “come along like buses,” and that the government’s next targets for trade deals are [...]
Lloyds Bank boss: No evidence of harm in motor finance scandal May 20, 2025 Lloyds Banking Group’s chief executive faced a grilling from the Treasury Select Committee on Tuesday over the lender’s historical exposure to the motor finance market. Charlie Nunn, the bank’s boss, said there was “no evidence of harm” from the firm’s operations in the car financing market. The scandal in the sector headed to the Supreme [...]
Klarna, Zilch, Clearpay: What does the buy now pay later crackdown mean for UK fintech? May 20, 2025 The Treasury’s regulatory shakeup of buy now pay later services is set to reshape the UK fintech landscape and industry leaders have been left with questions. The UK government will enact legislation that brings buy now pay later firms under the scrutiny of the Financial Conduct Authority. This means firms such as Klarna and Clearpay [...]
Starmer sends his critics into a spin – but will Brexit deal deliver? May 20, 2025 The Prime Minister says it’s now “time to move on from the stale old debates” of Brexit. It’s amazing he didn’t crack a grin as he said these words, knowing as he did that his critics would immediately work themselves up into a frenzy. The critics – including, but not limited to Nigel Farage and [...]
Reeves must provide ‘more stable’ tax policy, finance bosses say May 20, 2025 Rachel Reeves is facing pressure to provide a “clearer, more stable tax environment,” when she delivers her growth strategy in July. The Chancellor is once again in the spotlight after a damning report from finance bosses indicated the industry was prepped to support growth ambitions, but structural barriers were holding them back. Top players in [...]