Themis snaps up Pasabi in AI fraud fight as financial crime costs soar October 3, 2025 London-based financial crime intelligence firm Themis has acquired fraud monitoring company Pasabi, in a move aimed to accelerate the use of AI in tackling one of the fastest-growing criminal threats facing businesses and consumers globally. The deal, approved under the UK Home Office’s National Security and Investment Act, is set to fold Pasabi’s fraud detection [...]
‘Subdued’ services sector suffers steep drop as tax hikes bite October 3, 2025 Business activity expansion fell to a five-month low after a “subdued” services sector experienced a dull end to the third quarter. S&P’s UK Services Purchasing Managers Index Business Activity tumbled to 50.8 in September, falling steeply from the 16-month high of 54.2 secured in August. “This summer’s acceleration in output growth is now looking like [...]
OBR hands Rachel Reeves first damning pre-Budget report on UK economy October 3, 2025 The Office for Budget Responsibility (OBR) has handed Chancellor Rachel Reeves its first evaluation of the state of the UK economy and crippled public finances, setting policy discussions about likely £30bn tax rises and possible savings in motion. The OBR’s Budget Responsibility Committee, which consists of the economists Richard Hughes, David Miles and Tom Josephs, [...]
Andrew Bailey’s stablecoin U-turn hailed as ‘positive step’ October 1, 2025 Andrew Bailey has issued a major climb down on stablecoins after previously being accused of “killing” the country’s ambitions with “prescriptive” views. The Bank of England governor – who has been branded a “dinosaur” by Reform’s Nigel Farage for archaic views on crypto assets – has now said the UK should “reap the benefits” of [...]
Bank of England’s Breeden says inflation ‘hump’ is transitory September 30, 2025 The Bank of England’s deputy governor has warned keeping interest rates too high could drag inflation below the Bank’s two per cent target in comments that further exposed the divergence that exists among central bank officials over the long-term path of inflation. In a dovish speech delivered at Cardiff Business School, financial stability deputy chief [...]
Business sentiment sours as firms brace for tax hikes September 30, 2025 Business sentiment slumped in September as firms were braced for a fresh round of tax hikes in the autumn Budget. Private sector confidence slipped from 54 per cent to 42 per cent, according to the Lloyds Business Barometer survey, data which is typically seen as more cheery than rival surveys. Economic optimism edged down for [...]
Gen Z will ‘need at least £3m’ to retire comfortably September 30, 2025 People in their 20s will need at least £3m pension pot if they want to enjoy a comfortable retirement, a fresh study has shown, throwing into sharp relief the corrosive impact that inflation has on savings. According to an analysis from Rathbones, a 25-year-old today will need a pension pot of £3.1m if they want [...]
Will the ‘Brit card’ ID redefine privacy in the UK? September 29, 2025 Just last week, Prime Minister Keir Starmer announced plans for a new digital ID system, or so-called ‘Brit card’, aimed to provide UK citizens and legal residents with a smartphone-based identity card. By the end of the current parliament in 2029, digital ID is set to become mandatory for ‘right to work’ checks. The government [...]
How are ‘bankrupt’ France’s borrowing costs still lower than ours? September 29, 2025 Locked in a protracted political crisis over the extent of its indebtedness – and with its deficit running at over five per cent of GDP – France has earned itself the unwanted monikers of ‘the sick man of Europe’ and the ‘new Greece’. Despite these woes, its borrowing costs remain lower than the UK’s. Ali [...]
London must protect our fintech lead or be left behind September 29, 2025 The UK is moving too slowly in emerging areas like stablecoins, purring London’s world-leading fintech sector at risk, says Janine Hirt London has long been a global leader in fintech, a position built on a history of innovation and a welcoming environment for startups. This success was fuelled by a pro-growth approach to policy and [...]