Petroineos: Sir Jim Ratcliffe-backed energy giant loses $250m October 24, 2025 Petroineos, the energy trading company backed by Sir Jim Ratcliffe, lost $250m (£187.5m) in 2024 as it slumped into the red for the first time since 2020, it has been revealed. The Jersey-based business has reported the pre-tax loss after posting a profit of $30m in 2023. The results for the previous financial year were [...]
Natwest shares jump after cost-cutting boosts profit October 24, 2025 Natwest stock surged in early trading this morning after the lender posted a major bump in third-quarter profit following its cost-cutting regime. The FTSE 100 giant’s operating profit before tax surged over 30 per cent in the third quarter to £2.2bn, up from £1.7bn last year. Shares were up over five per cent as markets [...]
Treasury’s LLP tax proposal could add £46,000 burden per partner October 23, 2025 Law firms’ partners could face an additional £1.4bn in tax each year if the Treasury goes ahead with imposing a 15 per cent rate of national insurance contributions on LLPs. According to data provided by HMRC to UHY Hacker Young, partners of law firms made a total of £9.2bn in profits in the latest year. [...]
Autumn Budget: Reeves told avoid ‘pick and mix’ tax grabs October 23, 2025 Ahead of the Autumn Budget, City Reporter Samuel Norman sits down with top industry names for a Budget Briefing. This week, the managing director of TheCityUK warns Reeves not to patch up the tax tire just for it to deflate once more. The Chancellor has touted financial and professional services for their role “at the [...]
St Paul’s on bringing art into the Cathedral: ‘It was Marmite. Some worshippers said they’d leave’ October 22, 2025 This evening earmarks the inaugural Toast the City awards – the first ever ceremony celebrating Square Mile culture – and as City AM staffers bunk off work to smarten up, the Dean of St Paul’s Cathedral is bestowing us with his good wishes. The Cathedral has been nominated in our Best Coffee and Best Cultural [...]
Toast the City finalists: Who will win Best Breakfast? October 22, 2025 The Toast the City Awards are here to celebrate the very best in hospitality of placemaking in the Square Mile. On the eve of the big night, we are highlighting each of the 138 finalists who have beaten off competition from more than 2,000 entrants. First up is the Best Breakfast category, a hotly contested [...]
Lawyers sound alarm over Rachel Reeves’ proposed tax target on LLPs October 22, 2025 The Chancellor is reportedly looking to target limited liability partnerships (LLPs) for a tax raid as she tries to fill the fiscal black hole, but critics warn that this move will have consequences for the professional services sector. The LLP model, used by professional services such as law firms, accountancy, and some doctors (GPs), came into force [...]
UK investment: Optimism from Expo Real 2025 October 22, 2025 I recently returned from Expo Real in Munich, where I joined colleagues from the City of London Corporation and a UK cities delegation committed to one clear goal: To drive global investment into the UK and deliver the growth this country needs. But the competition is fierce. Cities like New York and Singapore are not [...]
Nobel Prize winners’ message is clear: Excessive taxation inhibits growth October 22, 2025 This year's economics Nobel Prize winners make it clear that the UK's path of high taxation will destroy growth, writes Paul Ormerod.
Chelsea sign sleeve sponsor deal with Vietnamese IT firm FPT October 22, 2025 Chelsea have announced Vietnamese IT company FPT Corporation as their new sleeve sponsor across their men’s, women’s and academy teams. The move sees FPT elevated to principal partner status at the Club World Cup winners, having begun their commercial relationship earlier this year. Chelsea are still in the market for a front-of-shirt sponsor, however, having [...]