FTSE 100 shrugs off Israel-Iran strikes June 16, 2025 The FTSE 100 was unmoved by simmering tensions in Israel and Iran, despite reports that the UK was scrambling to send fighter jets, and conflict in the Middle East was on the brink of a significant escalation with US involvement. The UK’s leading index was up 0.2 per cent after the first hour of trading, [...]
Bank of England expected to hold rates at 4.25 per cent June 15, 2025 The Bank of England is expected to hold interest rates at 4.25 per cent after inflation jumped in April and policymakers remain “nimble” to the evolving economic backdrop. Most economists think the Bank’s Monetary Policy Committee (MPC) will opt to keep rates on hold when it meets on Thursday. The MPC has voted to cut [...]
Will lower stress tests for mortgages fuel a first-time buyer boom? June 13, 2025 Easier access to mortgages might replace the stamp duty holiday as fuel for the starter homes market, with prices forecast to soar if affordability improves. The average price paid by a first-time buyer grew by 2.1 per cent in the first quarter and by 7.1 per cent year on year, according to government data. While [...]
Bank of England loses hundreds of laptops amid rising cyber threats June 13, 2025 The Bank of England has come under fire after losing hundreds of tech devices worth nearly £300,000. Figures seen by City AM reveal the Bank of England lost or had stolen over 300 laptops, tablets and phones between May 2022 and March 2025. Patrick Sullivan, chief executive of think tank Parliament Street, said: “The Bank [...]
Will fintech banks survive falling interest rates? June 13, 2025 Fintech lenders have accelerated their swing to profitability after interest rates spiked. The UK’s neobanks pocketed record revenues in the last 12 months. Revolut’s takings grew 72 per cent topping £3.1bn. Meanwhile Monzo’s revenue hit £1bn for the first time. But this came as interest rates maintained a post-financial crisis high of 5.25 per cent [...]
City regulators’ growth mandate ‘pointless’ without major reform June 13, 2025 The “entrenched culture of risk aversion” at the City’s two flagship regulators has stymied meaningful progress on their mandates to aid economic growth, a House of Lords report has argued, despite persistent pressure from Westminster for them to boost UK competitiveness. In a withering assessment of the efforts made by the Financial Conduct Authority (FCA) [...]
Wimbledon expansion: Key judicial review set for during grand slam June 12, 2025 Wimbledon will face a crunch judicial review on their plans to expand their Championships tennis site during this year’s grand slam. Speaking ahead of this year’s SW19 tournament, which gets underway on 30 June, All England Lawn Tennis and Croquet Club chair Deborah Jevans said the Greater London Authority decision to grant planning permission to [...]
UK economy shrinks more than expected in blow to Reeves June 12, 2025 The UK economy shrank more than expected in April, official data has shown, suggesting momentum built up in the beginning of this year has already worn away. New figures published by the Office for National Statistics (ONS) showing a 0.3 per cent contraction come off the back of a strong 0.7 per cent growth in [...]
Bank Aston to be first locally licensed Guernsey bank in 30 years June 12, 2025 Bank Aston has secured a banking licence from the Guernsey regulator that will make it the first locally licensed bank in the jurisdiction within 30 years. Bank Aston positions itself as a specialist provider for offshore trustees, investment funds, and family offices, which are key sectors in the Channel Islands’ financial services industry. The firm [...]
Will Reeves’ spending review make UK housing more affordable? June 11, 2025 Rachel Reeves has made housebuilding a central feature of the government’s spending policy. The planning system has been reformed, money has been funnelled into skills and developing brownfield housing, and new towns have been announced. But this afternoon’s spending review has firmly set out the government’s commitments for the sector, and affordable regional housing is [...]