Owner of collapsed lender MFS hit with freezing order March 19, 2026 The owner of a collapsed shadow bank has been hit with a worldwide freezing order after his firm faced fraud allegations. Paresh Raja, founder of Market Financial Solutions (MFS), has been told by courts in London and Dubai to give details of all his assets worth more than £10,000 and cannot spend more than £5,000 [...]
Treasury reforms to banks ombudsman threaten independence, MPs warn March 18, 2026 The Treasury’s reforms to the banks ombudsman threaten to upend the body’s independence, a group of influential MPs have warned. The government revealed its overhaul proposals for the financial ombudsman service (FOS) on Tuesday in a bid to curb concerns it had behaved as a “quasi-regulator”. But a fresh letter to City minister Lucy Rigby [...]
Bank of England ‘should wait’ before cutting interest rates, City AM Shadow MPC says March 17, 2026 The Bank of England should “wait and see” how long the war in Iran goes on for before cutting interest rates again, leading economists on City AM’s Shadow Monetary Policy Committee have said. The crisis in the Middle East has pushed up energy prices and heightened fears that the UK economy is heading for a [...]
Is AI the future of work? March 17, 2026 Technology leaders say artificial intelligence (AI) is the future of work, but the reality for business leaders is more complicated. The world of work is clearly moving in this direction, as the government recently announced plans to offer free training to British adults on how to effectively use AI in their work. But researchers have [...]
Shadow bank collapse floods London with hundreds of luxury properties March 17, 2026 London’s super prime property market is set to be flooded with hundreds of luxury homes following the collapse of one of Britain’s biggest shadow banks. Mansions in Kensington, Belgravia, Knightsbridge and Mayfair are being put on sale by administrators for Market Financial Solutions (MFS), all of which were controlled by individuals with links to the [...]
Close Brothers shares sink as infamous short-seller warns of motor finance ‘wipeout’ March 16, 2026 Shares in Close Brothers plummeted on Monday after a group notorious for short-selling warned the bank had “systematically misrepresented” its exposure to the motor finance scandal. The FTSE 250 bank nosedived as much as 12 per cent during afternoon trading after Viceroy Research, a group famed for its exposés of Wirecard and Home Reit, warned [...]
The relentless rise of unregulated finfluencers March 16, 2026 Accessing financial advice used to be out of reach for many. But now, it’s on your commute, at the bus stop, and most dangerously, in your pocket. Get out your phone, open any social media app, and you’ll see a young man or woman, backlit by a ring light holding a pocket microphone, promising to [...]
Women’s Super League fans spend more on matchdays than Premier League counterparts March 12, 2026 Football fans attending Women’s Super League matches spend more than those going to Premier League games, according to new research commissioned by Barclays. Fan spend per matchday, excluding tickets, averaged £145 for supporters in the WSL compared with £138 in the Premier League, the research found. Non-food spending – merchandise and match programme – was [...]
Revolut is now a bank. Raise a glass to this stellar British success story March 11, 2026 It has been a painfully long wait for Revolut. But at last, the patience of Europe’s most valuable fintech has paid off. Its British banking licence has arrived. This is the final step in Revolut’s decade-long journey to become a fully-fledged bank. That means it is no longer – by any yardstick – a startup. [...]
Mortgage lenders pull deals at fastest pace since mini-Budget March 11, 2026 Mortgage lenders are pulling deals at the fastest rate since Liz Truss infamous mini-Budget amid growing agitation around the economic consequences of the Iran war. Nearly 500 homeowner mortgages have disappeared from the market in mere days, according to finanical information platform Moneyfacts, as average mortgage rates breeze past the five per cent mark. Moneyfacts [...]