Profit triples at SME lender Iwoca as loans near £1bn June 26, 2025 Profit has almost tripled at business lender Iwoca as its revenue jumped by nearly £100m in 2024, it has been revealed. The London-based firm, which provides credit to small and medium-sized enterprises (SMEs), has posted a pre-tax profit of £59.1m for its latest financial year. The total comes after the business reported a pre-tax profit of £21.7m [...]
Asda loses £600m amid major turnaround plan June 25, 2025 Asda slumped back into the red after losing almost £600m in 2024 despite its total sales rising by more than £1bn, it has been revealed. The Leeds-headquartered supermarket giant has posted a pre-tax loss of £599m for its latest financial year, having reported a pre-tax profit of £180.3m for 2023. The profit in 2023 came [...]
London Spirit: Tech titans eye speedy Hundred deal to beat Trump tax rises June 25, 2025 English cricket is set to be an unlikely beneficiary of US President Donald Trump’s tax changes, with the so-called “tech titans” who are buying into London Spirit eager to complete the transaction before the One Big Beautiful Bill Act is rubber-stamped by Congress. One clause of the Republic-sponsored bill, now with the Senate having been [...]
A non-dom tax U-turn could revive prime London property June 25, 2025 Prime property in areas like Mayfair and Belgravia is currently going for as little as £1,800 per square foot, but reversing inheritance tax on global assets could re-establish London’s appeal to the world’s rich, says Edward Matthews Reports that Rachel Reeves is considering reversing the requirement for overseas high net worth individuals (HNWI) to pay [...]
UK set to ‘lose more millionaires’ than any other country June 24, 2025 The UK will lose more millionaires than any country in the world this year, a fresh study has claimed, as a combination of punitive tax hikes on wealth and a stubbornly stagnant economy continue to push some of the richest residents abroad. According to Henley & Partners’ annual Wealth Migration Report, the UK will haemorrhage [...]
Alarm bells as retail sales suffer largest fall in 18 months June 20, 2025 UK high streets suffered from post-Easter fatigue among shoppers as official data showed retail sales dropped by 2.7 per cent in May. The Office for National Statistics said a fall in sales in May represented the largest month-on-month drop since December 2023. A Bloomberg poll of economists expected retail sales to drop by 0.5 per [...]
UK suffers second highest fall in wealth of any major economy in 2024 June 19, 2025 Average wealth in Britain fell the second most of any major economy in 2024, according to a closely followed global study, piling fresh scrutiny on the country’s battle to stem an exodus of its wealthiest residents and kickstart its flagging economy. According to UBS’s annual Wealth Report, mean household wealth in Britain fell 3.6 per [...]
A gold card for non-doms can secure London’s position as a global hub June 19, 2025 With it’s world class education system, robust rule of law and central time zone, London is still the best place in the world to be a non-dom, says Duncan MacIntyre From Ann Kaplan Mulholland and her husband Dr Stephen Mulholland to Lakshmi Mittal and Frederic de Mevius, multi-millionaires and billionaires have been making headlines in [...]
St James’ Place: Labour’s dividend tax plans could backfire June 18, 2025 Any attempt to get more cash through increasing the top rate of tax on dividends may backfire and instead dry up revenue streams, Chancellor Reeves has been warned, as investors look to this year’s Autumn Budget with a sense of dread. Reeves is poised to hike taxes later this year by as much as £20bn [...]
The City needs a Thatcher-style revolution June 18, 2025 Fifty years after Thatcher took charge, the City of London faces a crisis of confidence and capital— and only bold, radical reform in her spirit can revive its global standing, says Tim Focas Hard to believe, but it is 50 years since Margaret Thatcher took the helm of the Conservative Party. Though her tenure as [...]