Britain needs tax devolution, but beware of fiscal war Opinion Britain is an outlier for tax centralisation, but devolution can go badly wrong, says Tim Sarson Last week government front benchers and local leaders from across England got together at Number 10 North to discuss the details of a new Visitor Levy, or tourism tax. Quite a momentous moment in its own way, because this [...]
PwC’s UK business grows but Iran conflict hits wider group Big Four Big Four giant PwC reported steady financial growth in its UK business, with revenue and profit per partner both increasing slightly from the previous year, despite group revenue slipping due to the Middle East conflict. For the year ended 30 June 2026, PwC’s UK business’s revenue grew to £4.365bn, up two per cent on the previous year. While [...]
As it happened: FTSE 100 rises after inflation jump; oil supply in focus FTSE 100 Live Welcome back to the City AM liveblog. UK inflation has seen a fresh spike to 3.1 per cent in August, up from 2.9 per cent the month prior. The fresh print comes as Brent crude – the international benchmark for oil – holds around the $108 per barrel mark, near four-month highs. Industry data managed [...]
KPMG wields axe again with 200 tech and cyber roles on the block September 15, 2026 KPMG UK is set to lay off hundreds of staff in its data and tech division in the latest round of redundancies at the Big Four firm. The new round of cuts will affect 200 roles from its advisory business, according to the Financial Times, and amounts to about 4 per cent of the firm’s [...]
Xapien Secures $56 Million to Scale Dynamic Due Diligence Globally September 11, 2026 Business relationships now move faster than the processes built to protect them. Xapien's dynamic approach breaks a decades old compromise between speed and assurance. Growing 350%+ in Annual Recurring Revenue over the last 24 months, Xapien is helping clients eliminate unmonitored third-party risk.
‘Calm before the storm’: City warns Healey growth spurt won’t last September 11, 2026 The UK economy’s surprise summer growth spurt is set to be “blown away” by a spike in energy prices and a recent surge in the cost of borrowing, economists have warned the government. Fresh figures revealed on Friday that the economy expanded 0.4 per cent in July, ahead of initial forecasts that predicted flat growth. [...]
Regulator opens triple probe into Prax Group’s oil audits September 11, 2026 The audit watchdog has launched three separate investigations into the auditing of the collapsed UK energy challenger Prax Group. The Financial Reporting Council (FRC) opened probes into the financial oversight and audit of Prax’s parent company, State Oil, and will also examine Big Four KPMG’s audit of the fiscal years ended 28 February 2022 and [...]
HSBC shares dip as finance chief announces exit September 10, 2026 HSBC is on the hunt for a new chief financial officer after the bank revealed its finance head Pam Kaur would retire after two years in the job. Kaur, who has been with the company for 13 years, is set to leave her role at some point in 2027 and will not stand for re-election, [...]
Soho Square Capital Backs Strathberry September 8, 2026 Soho Square Capital, an investment firm focused on financing established and growing UK and European SMEs, is pleased to announce a growth investment in Strathberry, the Scottish luxury leather goods brand. This marks Soho Square’s first investment from Soho Square Partnership Capital Fund II. Established in 2013 in Edinburgh by husband-and-wife founders Guy and Leeanne [...]
Alchelyst Expands EMEA Presence with Senior Sales Appointment and New UK offices September 8, 2026 Hiring of Ben Middleton as Head of Sales for EMEA and new London offices reflect continued investment in the region