Jaguar Land Rover to axe 500 management jobs July 17, 2025 Jaguar Land Rover is to axe up to 500 management jobs in the UK through a voluntary redundancy programme. The automotive giant said that around 1.5 per cent of its UK workforce would be impacted by the job cuts. A spokesperson for the Tata-owned firm said: “As part of normal business practice, we regularly offer [...]
Rachel Reeves’ tax raid leads to thousands of job losses as wage growth cools July 17, 2025 Thousands of jobs were lost in June, official data has shown, putting the Bank of England under greater pressure to deal with the consequences of Chancellor Rachel Reeves’ £20bn tax raid at its next interest rates decision in August. Bank Governor Andrew Bailey has warned that “softening” in the labour market could force rate-setters to [...]
The Bank of England is right: £25bn in assets isn’t that much for an SME lender July 17, 2025 Mid-tier banks have long faced regulatory hurdles that hinder growth, especially the minimum requirements once a lender’s assets reach £15-£25bn. Thankfully that’s about to change, but that should be just the start of reforms, says Nigel Terrington Each week, my commute to Paragon’s Solihull headquarters takes me past HS2 construction sites, bustling with heavy machinery [...]
Sticky inflation takes shine off Reeves’ week July 17, 2025 If the Chancellor was hoping to bask in the glow of supportive front-page coverage the morning after her Mansion House speech, she would have been disappointed. The spectacular revelations of Whitehall’s hushed-up cock-up over Afghan refugees knocked her off the top of the news agenda pretty much across the board. Only City AM gave her [...]
The Capitalist: slim pickings at Mansion House July 17, 2025 A slither of salmon at Mansion House, protein-packed ‘Super Plates’ at Pret and a self-appreciating AI. Catch up with all the latest gossip from the Square Mile with The Capitalist The Capitalist rubbed shoulders with the City’s great and good at Mansion House on Tuesday, where a decidedly upbeat Rachel Reeves told the assembled financiers [...]
Financial services firms dealt tens of millions in regulatory fines July 17, 2025 While deregulation may be the political mood, UK watchdogs are sharpening their swords as banking giants bleed millions in regulatory fines. In under just ten days, the Financial Conduct Authority and Bank of England handed out £74.9m worth of fines to a trio of UK financial services firms. Leading the pack, and most recently, was [...]
FCA boss sounds alarm on financial warfare and debt levels July 16, 2025 Rising sovereign debt and the growing risk of an attack on Britain’s financial infrastructure are the two biggest threats to UK markets, the boss of the Financial Conduct Authority (FCA) has warned, as he issued a clarion call for more data on the trading of government bonds. Nikhil Rathi told peers that the danger to [...]
Wall Street banking giants ride tariff rebound to booming revenue July 16, 2025 Wall Street’s banking titans have rounded off second-quarter earnings seasons largely breezing past analyst expectations as revenues boomed on the back of market volatility. The lenders continued a trend from the first-quarter with strong trading and investment banking revenues driving a robust performance. JP Morgan pocketed $45.7bn in revenue, outperforming its $44bn estimate. This came [...]
House prices ‘continue to surprise’ as average property value ticks up in May July 16, 2025 UK house prices rose again in May, bucking predictions of a slowdown in the market after stamp duty relief was axed earlier this year. The average price for a UK property reached £269,000 in May, up 3.9 per cent year on year and 1.1 per cent month on month. The bulk of this increase was [...]
Andrew Bailey sets Donald Trump challenge on tariff plans July 16, 2025 Bank of England Governor Andrew Bailey has set President Donald Trump a “constructive challenge” to explain contradictions in fiscal policies that threaten the world economy and financial stability. In his Mansion House speech delivered to an audience of City leaders, Andrew Bailey defended the principles of free trade and post-war agreements to introduce multilateral systems [...]