Britain has the lowest level of millionaires since the financial crisis – and that’s no accident July 28, 2026 The number of millionaires in Britain has sunk to its lowest level since the 2008 financial crisis. Rich residents aren’t just fleeing because of policy choices like high levels of tax and the removal of non-dom status, but also a cultural hostility to wealth, says James Lawson It is no secret that the wealthy and [...]
‘Moron premium’ – Westminster turmoil has ‘cost taxpayers £35bn’ since 2022 July 28, 2026 Secretive plotters and vengeful strategists in Westminster have cost taxpayers around £35bn since 2020, new research by one of the world’s top insurance companies has found. In a study into the costs of political fragility facing European governments, researchers at Allianz Trade found that the UK government continued to pay a “distinct political premium” due [...]
Ban foreign stocks from Isa wrapper, says top pensions boss July 28, 2026 The tax-free wrapper on a stocks and shares Isa should be restricted to investments in UK assets, according to the chair of a top pension fund who also called for an inheritance tax carve-out for retail investors who buy government bonds. Speaking at an event, Standard Life chair Nicholas Lyons argued limiting the tax incentive [...]
KBRA Assigns Preliminary Ratings for RRE 12 Loan Management DAC July 27, 2026 KBRA UK (KBRA) assigns preliminary ratings to five classes of Notes issued by RRE 12 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 12 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). [...]
Burnham and Healey face investor fury over summer of tax speculation July 27, 2026 Andy Burnham and John Healey are contending with a growing backlash from investors after another summer of tax speculation looks set to leave financial managers on edge. The chief executive of one of the UK’s biggest investment platforms, AJ Bell, urged Chancellor Healey to take a more emphatic approach on ruling out tax hikes across [...]
Exclusive: Jobs lost across Labour’s ‘growth potential’ sectors in blow to Burnham July 27, 2026 In a blow to the government’s plans to boost employment, eight sectors previously identified as having high growth potential in Labour’s industrial strategy have suffered job losses, according to a report seen by City AM. The so-called ‘IS-8’ sectors, which include life sciences, financial services and defence, were singled out by the UK government last [...]
FICO UK Credit Card Market Report: May 2026 July 27, 2026 Post-Easter spending and repayments follow seasonal patterns, but delinquency data suggests most vulnerable customers are falling into further financial difficulty
Exclusive: Saudi ship struck by Houthis had insurance from Lloyd’s insurance giant July 25, 2026 Insurance giant Gallagher had insured one of two ships that were attacked by the Houthis in the Red Sea, which caused a fire to break out on board and made the ship return to port. The Lloyd’s of London broker had organised cover for the affected vessel, which was one of a pair of tankers [...]
Kuwait Oil Company Signs US$ 16.0 Billion Infrastructure Partnership Involving Its Crude Oil Pipeline Network With a Consortium Comprising Blackstone, Brookfield and KKR July 25, 2026 Kuwait Oil Company (“KOC”) is establishing a new joint venture (“JV”) with three leading global investors in a lease and leaseback structure for a 20.5 year period that includes a volume-based tariff Following a competitive selection process, Blackstone, Brookfield and KKR will collectively hold a 49% stake in the JV, with each investor holding an equal one-third share of that interest on equal terms; KOC will retain a 51% stake and full ownership and operational control of the network Kuwait's largest energy infrastructure partnership to date, and the largest foreign direct investment ever in Kuwait Marks the first time leading global institutional investors have deployed long-term capital into Kuwait’s midstream infrastructure Underscores – amidst ongoing regional geopolitical challenges – international trust in KPC’s ability to deliver on its 2040 Strategy to reach 4 million barrels of crude oil production capacity per day by 2035 Supports Kuwait's economic diversification goals in a partnership with leading international investors, expected to generate US$ 7.85 billion of proceeds to support broader capital expenditure plans Preserves the State of Kuwait’s full flexibility over its production and refining volumes
Commonwealth Games: How ‘Commy G Lite’ is opportunity for smaller brands July 25, 2026 Is the smaller scale Commonwealth Games a chance for smaller brands to step up and take a bite out of the multi-sport flagship event action, asks sponsorship expert Sarah Niblock. A reduced price tag might look like they can, but more importantly, it’s essential that they consider if they actually should. The 23rd Commonwealth Games [...]