Omaze in court over tax dispute on luxury house prize draws Tax Luxury house prize draw platform Omaze has appealed against HMRC over whether paid entries in its prize draws are subject to standard-rate VAT. An Omaze spokesperson told City AM the platform “has been paying VAT in the UK since 2021.” Omaze lists itself on its website as “not a charity raffle, house or cash raffle [...]
What could a bank tax raid mean for JP Morgan’s Canary Wharf mega-tower? Banking When Jamie Dimon and John Healey first exchanged remarks, the world’s most influential banker told the Chancellor how important it was to get public policy right. The Wall Street chief is understood to have said the right public policy was the key to solving the issues facing global economies, according to those close to the [...]
Midday Markets: The one tax you could bank on Analysis The Midday Market report is a new newsletter from City AM, giving you fresh analysis on the biggest stories in the City straight into your inbox every lunchtime. Today, Ali Lyon, chews over the government’s plans for a windfall tax on banks. Sign up to the City AM News Updates newsletter here. It was, in [...]
Bailey: Businesses trying not to pass costs on to consumers October 16, 2026 Bank of England governor Andrew Bailey has said businesses are resisting decisions to pass higher energy costs onto consumers and instead looking to narrow margins and find other savings. Speaking at an International Monetary Fund event in Bangkok, Bailey said firms were “clearly squeezing margins as well as cost cutting” in order to deal with [...]
Healey’s ‘mixed messages’ on bank tax leave City blindsided October 16, 2026 The City was left reeling on Friday following reports that John Healey was drawing up plans to tax banks in the forthcoming Budget. Industry heavyweights across the UK have fired warning shots as Healey weighs up different options to target the banking industry with a hefty cash raid. One City figure told City AM a [...]
Lloyds and Barclays shares fall as Healey ‘poised’ to hike bank tax October 16, 2026 Shares in Britain’s banking giants tumbled this morning after new reports suggested John Healey is set to raise taxes on lenders when he delivers his first Budget at the end of the month. Natwest dropped two per cent to 660.40p, while Lloyds was down around 2.5 per cent to 103.40p. Barclays slid 0.4 per cent [...]
MSCI Launches a Consultation on a Proposal to Reclassify Indonesia from Emerging Market to Standalone Market Status October 15, 2026 MSCI to consult on proposal to reclassify the MSCI Indonesia Indexes to Standalone Market status Existing freeze on Indonesian securities in MSCI Indexes to remain in place until further notice
KBRA Assigns and Affirms Ratings for DFMG Holding GmbH October 15, 2026 KBRA Europe (KBRA) assigns its BBB+ ratings to DFMG Holding GmbH’s EUR 1,000 million senior secured notes. KBRA also affirms the issuer rating of BBB and senior secured ratings of BBB+ for DFMG Holding GmbH. The Outlook is Stable. GD Towers Holding GmbH (GDT) is a leading European tower company (towerco) that, through its wholly [...]
Robert Jenrick hits out at Deloitte and KPMG over job cuts October 15, 2026 Reform UK’s Robert Jenrick has criticised Big Four giants Deloitte and KPMG for laying off British staff, alleging they did so while “importing thousands of migrant workers”. In his latest video post, standing outside Deloitte’s London HQ, the MP said Deloitte “laid off 800 UK staff” but that “over the last five years, they have [...]
Healey’s £1bn London office raid would be ‘attack on growth’ October 15, 2026 John Healey’s potential £1bn raid on London offices would be an “attack on growth” and deal a huge blow to the City, property firms have warned. The Chancellor is weighing up an increase to business rates for expensive office blocks and skyscrapers which would raise £1bn for the Treasury but disproportionately hit the capital’s business [...]