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 [...]
Andy Haldane elected president of British Chambers of Commerce October 15, 2025 Andy Haldane has been elected the new president of the British Chambers of Commerce (BCC), succeeding the serial entrepreneur and business doyenne Baroness Lane Fox. The central banking veteran, who spent eight years on the Bank of England’s Monetary Policy Committee, was chosen to head up the business lobby group by representatives of its chamber [...]
Farage’s crypto fantasies are a risk British taxpayers can’t afford to take October 15, 2025 Nigel Farage’s proposed crypto policies — including a £5bn national bitcoin reserve, a flat 10 per cent crypto tax, and rejection of a digital pound — are bold in rhetoric but economically reckless, risking public funds on volatile assets and undermining fiscal stability, says Tim Focas Nigel Farage has taken to the stage at the [...]
Bank of England’s Taylor: High rates could push UK into recession October 14, 2025 The UK risks heading into a recession that will be “difficult to contain” if interest rates are kept on hold into next year, a Bank of England rate-setter has said in a speech that has further exposed widening splits between policymakers over the best path for borrowing costs. In a set of dovish comments made [...]
JP Morgan bulks up financial cushion as Dimon warns of uncertainty October 14, 2025 JP Morgan has bulked up its financial cushion against loan losses as chair Jamie Dimon warns of heightened risk and global uncertainty. The lender set aside an additional $810m (£610.2m) to cover potential losses from unpaid loans. This defensive money consisted of $608m earmarked for consumer loans – such as credit cards and mortgages – [...]
Revolut’s UK banking licence bid faces global risk scrutiny October 14, 2025 Revolut’s pursuit of a full UK banking licence has hit another stumbling block as regulators seek further information on the fintech’s risk controls in light of its accelerating overseas growth. Officials at the Bank of England have sought commitment from the digital banking juggernaut that it will bulk up its risk management infrastructure to match [...]
Public sector pay outpaces private amid Budget pressures October 14, 2025 Public sector pay has outstripped private sector pay on an annual basis, according to new official data, with the added pressures on public finances set to force Chancellor Rachel Reeves to hike taxes at the Budget. The Office for National Statistics (ONS) said annual average regular earnings growth was 4.4 per cent for the private [...]
Unemployment rises as concerns grow for UK jobs market October 14, 2025 The unemployment rate rose slightly to 4.8 per cent in September, while the inactivity rate was 21 per cent, “largely unchanged” on the previous quarter but below levels seen a year ago. The estimated number of vacancies in the UK also fell by 9,000, marking the 39th consecutive period of job posting declines. The ONS [...]
Mind the Split: London is the best city to be a divorce lawyer October 14, 2025 London’s reputation as the divorce capital of the world looks set to grow after a recent court ruling paved the way for more foreign cases to be heard in the city. Litigation-focused law firm Stewarts has expanded its high-net-worth practice to meet rising demand for complex, high-value divorce work. High-profile, high-net-worth divorces collect media headlines [...]