Meet the new ministers driving Labour’s latest growth mission September 9, 2025 A £25bn fiscal black hole, fading housebuilding hopes and lacklustre productivity growth marked a troublesome end to the first year in office for the new occupants of Downing Street this summer. While the resignation of Angela Rayner – the popular Labour figure who had called for the Treasury to turn left and tax the wealthy – [...]
Modella and HMV owner compete for Claire’s Accessories September 8, 2025 Modella Capital, the investor behind WH Smith’s UK acquisition the man responsible for rescuing HMV are locked in a battle to buy struggling high street chain Claire’s. Claire’s appointed administrators for its UK arm in August, just a week after it filed for bankruptcy in the US and entered administration in France. The company had been considering [...]
‘It’s not a fair fight’: HMV boss issues Rachel Reeves Autumn Budget tax demand September 8, 2025 Chancellor Rachel Reeves has been urged to reform business rates in the Autumn Budget by the boss of HMV. Phil Halliday, in an up-coming episode of City AM‘s Boardroom Uncovered show, said the current system should be altered to make it fairer for UK retailers. The managing director added that businesses such as HMV are [...]
Ashmore: Preparing for emerging market growth September 5, 2025 Emerging markets specialist Ashmore reported a decline in total adjusted net revenue of 22 per cent to £146.5m in its latest fiscal period. Net management fee income declined 19 per cent to $129.7m, (£95m) causing a margin drop to 35 basis points from the 39 recorded last year. AUM stood at $47.6bn, a 3 per [...]
British billionaire trader offers interns £26k a month September 4, 2025 A billionaire trader has said interns at his trading empire would be paid $35,000 (£26,000) as firms fight to snap up the best tech talent. Alex Gerko, boss of XTX Markets, is offering postgraduates a 12 to 14-week research internship where they could pocket between $105,000 and $122,500. The position, a role commanding four days [...]
Currys kicks off year with strong sales despite high street pressures September 4, 2025 Currys has reported a robust start to its new financial year, with sales growth across the UK, Ireland and Nordics, and a £50m share buyback programme as the electricals retailer looks to reward shareholders. In a trading update for the 17 weeks to 30 August, the FTSE 250 firm said UK & Ireland like-for-like revenue [...]
Higher interest rates boost Lloyd’s of London September 4, 2025 Lloyd’s of London, the world’s leading insurance and reinsurance market, has reported a profit before tax of £4.2bn for the first half of 2025. Gross written premiums climbed to £32.5bn, up from £30.6bn reported for the same period last year. Its underwriting result fell to £1.5bn, down from £3.1bn the previous year, as the market’s [...]
Bank of England: Interest rate cuts are near the end September 4, 2025 The Bank of England is less likely to make drastic cuts to interest rates in the coming year as officials said the current cycle could “not go on forever”. In a hearing before the Treasury Select Committee, members of the Monetary Policy Committee (MPC) indicated markets may be correct to predict there would be no [...]
Strong luxury watch sales amid Trump tariffs reassure investors – for now September 3, 2025 Steady demand for luxury watches in the face of Trump’s tariffs has reassured investors this summer, but analysts have warned that it might not last if prices rise. On Wednesday morning, Watches of Switzerland Group told markets that demand for timepieces has been “consistently strong” over summer, sending its share price up eight per cent. [...]
How likely are property tax reforms in the Autumn budget? September 3, 2025 Rumours have been swirling in Westminster about a variety of property tax changes Rachel Reeves might introduce in this Autumn’s budget – or further down the line – in an attempt to plug a £40bn gap in the nation’s finances while overhauling a complex system of levies and charges. The Treasury is reportedly looking into [...]