London is world’s second-most expensive city for super rich July 14, 2025 The government’s decision to charge VAT on private school fees has helped make London the world’s second most expensive city for footloose super rich individuals. According to a fresh study from Swiss bank Julius Baer, the UK capital overtook Hong Kong to come second on its annual ranking of the most expensive cities in the [...]
McVitie’s changes tune on UK investment with £68m boost July 14, 2025 The company behind McVitie’s is set to invest millions in the UK despite the latter’s boss ‘dunking’ on the UK as an investment destination last year. London-based snacking giant Pladis will funnel £68m into its facilities, including £21m for its Jaffa Cake factory and £33m for the home of Jacob’s Cream Crackers. The funds will [...]
AI disrupts UK hiring for tech and entry level roles July 14, 2025 UK employers are significantly scaling back hiring roles at risk of being disrupted by artificial intelligence (AI), adding signs of a broader labour market slowdown. New data from McKinsey & Co revealed that online job postings fell 31 per cent in the three months to May, compared with the same period in 2022. Yet the [...]
What if the boss of the National Lottery won the jackpot? July 14, 2025 It’s a question that everyone has either been asked or posed themselves – what would you do if you won the National Lottery? Doubtless there are countless answers to that very simple question, although talk might be dominated at the moment by questions over how hard the Labour government would tax that new-found wealth. But [...]
Wizz Air to pull out of Abu Dhabi and cancels all flights July 14, 2025 Wizz Air has revealed plans to pull out of Abu Dhabi and cancel all flights from the start of September. The London-listed carrier added it intends to exit its joint venture and will “focus on its core markets” in the future. Wizz Air said the move follows a “comprehensive reassessment of market dynamics, operational challenges, [...]
Mansion House: UK giants to agree to pick high-return pension schemes July 14, 2025 UK giants Tesco and NatWest Group are set to answer the City of London Lord Mayor’s calls to focus on driving returns rather than getting bogged down by fee costs when picking pension schemes for employees. Ahead of the Mansion House speech on Tuesday, the Lord Mayor criticsed UK companies for choosing providers that charged [...]
Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London July 14, 2025 Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
Andrew Bailey cautions banks against issuing their own stablecoins July 14, 2025 The governor of the Bank of England has cautioned against banks issuing their own stablecoins in marked contrast to a more bullish attitude to the technology in the US. Andrew Bailey said the moves by banks to launch their own stablecoins, a kind of cryptocurrency backed by assets such as the dollar, did not offer [...]
Andrew Bailey calls for lower interest rates if job market stalls July 14, 2025 The Governor of the Bank of England has called for more dramatic cuts to interest rates if the jobs market sees a substantial slowdown. In an interview with The Times, Andrew Bailey insisted: “I really do believe the path is downward” for rates. He said that businesses are “adjusting employment” following Rachel Reeves’ tax hikes [...]
What the City needs from Rachel Reeves’s Mansion House speech July 14, 2025 Ahead of Rachel Reeves's Mansion House speech, Lord Mayor Alastair King outlines what the City needs to hear from the Chancellor.