Grangemouth: Green projects at oil refinery site could cost £13bn March 12, 2025 Plans for new green projects at the Grangemouth oil refinery site in Scotland could reportedly cost up to £13bn. A feasibility study of possible options for the site – dubbed Project Willow – has listed nine opportunities including recycling plastics and producing biomethane, to create a “flourishing low carbon hub” over the next two decades, [...]
Birmingham landmark on sale in cut-price deal as value slashed in half March 11, 2025 A landmark office building in Birmingham city centre has been put up for sale for half what it was bought for in 2019. The Lewis Building and its adjoining neighbour Priory Court in Bull Street were acquired by Gulf Islamic Investments for £140m. The investor, which has offices in Dubai and Abu Dhabi, bought the [...]
KPMG to merge dozens of markets in major overhaul March 10, 2025 Big Four audit giant KPMG will merge dozens of its national partnerships in an attempt to accelerate growth and minimise audit scandals. The move to integrate its panoply of businesses, each of which is owned by the respective partners in each jurisdiction, represents one of the most significant shake-ups at a major professional services network [...]
Poland: The workers’ paradise overthrown by workers March 6, 2025 Poland was one of the poorest countries in Europe, but since an uprising that overthrew socialism it is now set to become richer than the UK, says Rainer Zitelmann In recent years, I have visited Poland more frequently than any other European country, and I am always amazed by the country’s remarkable economic development and [...]
Mark Kleinman: Football watchdog search approaches injury time March 6, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. Today, he tackles the football watchdog search, big pay at GSK and CityFibre’s M&A warchest Football watchdog search approaches final whistle They think it’s all over. To paraphrase the immortal line of Kenneth Wolstenholme, the 1966 World [...]
FTSE 100 lenders pocket record total profit February 21, 2025 Standard Chartered was the last of the FTSE 100’s biggest banks to release its annual results, as analysts praised the strong performance across all of the Big Five. Barclays, HSBC, Natwest, Lloyds and Standard Chartered booked an all-time high of £50.3bn in profit in 2024 and returned £35bn to investors. Russ Mould, investment director at [...]
Lloyds shares jump despite profit slump February 20, 2025 Lloyds Banking Group’s shares jumped three per cent following market open, despite recording a profit hit after the firm set aside additional funds for potential motor finance payouts. The FTSE 100 lender’s pre-tax profit was down 20 per cent at £6bn, compared to £7.5bn in 2023. Analysts estimated the bank’s profit before tax at £6.5bn, [...]
What happened when Latin America’s most free economy elected a socialist? February 20, 2025 Chile was the most capitalist country in Latin America and had prospered as a result. But since the election of socialist Gabriel Boric in 2021, all that has changed, says Rainer Zitelmann My trip around the world took me to Chile twice, in May 2022 and November 2023. After you’ve been to countries like Colombia, [...]
Mark Kleinman: FCA is naming and shaming itself, not the City February 20, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. Today, he tackles name and shame at the FCA, a gamble at Entain and a business group revamp FCA is naming and shaming itself, not the City It’s rare to get a consensus this strong – but [...]
Borrowing boom to boost banks February 17, 2025 Banks have been given a boost after new data predicted borrowing growth would rise throughout 2025. After the Bank of England slashed interest rates three times in the last six months, research from EY Item Club anticipates total UK bank lending will rise to 3.7 per cent this year, up from 2.3 per cent in [...]