Umbrella Union to be wound up after HMRC tax avoidance accusation May 16, 2025 A Liverpool-based contracting company accused of promoting tax avoidance is to be wound up after appointing liquidators, City AM can reveal. The firm, called, Umbrella Union, described itself as an “umbrella contracting company” which “can help you comply with financial regulations whilst remaining self employed.” In October last year, HMRC added the company to its [...]
Rachel Reeves’ tax hikes to cost Timpson £12m extra a year May 16, 2025 Chancellor Rachel Reeves’ Autumn Budget tax hikes are set to cost the business empire of fellow government minister Lord James Timpson £12m extra a year, it has been revealed. The Manchester-headquartered group said the increases in employer’s National Insurance contributions and the National Living Wage will eat into its earnings in the years to come. [...]
Don’t force pension funds to buy British, Aviva chief warns ministers May 15, 2025 British pension funds should not be forced to invest in UK assets, the boss of one of London’s biggest insurance firms has said, in a rebuke of the government’s pension reforms plans. The Treasury this week helped seal a voluntary, non-binding agreement by pension funds, dubbed the Mansion House Accord, will see increased investment into [...]
Rents near Elizabeth line stations rocket up a third since opening May 15, 2025 Rents for homes near recently-added Elizabeth line stations have shot up by more than a third since 2022 as the housing crisis in the capital continues to intensify. In some locations, prices have risen by more than 70 per cent as demand for well-connected properties soars, according to lettings software firm Goodlord. This rise outstrips [...]
Allianz investment boss: US in ‘sentiment recession’ May 15, 2025 The US is currently going through a “sentiment recession,” as economic indicators fail to match the increasingly sour outlook from American consumers and businesses, a boss at Allianz’s investment arm has argued. Hard economic data in the country has so far managed to hold up despite significant uncertainty, as companies frontloaded buying inventory in advance [...]
CMA handed ‘strategic steer’ as government pushes pro-growth agenda May 15, 2025 The UK’s competition watchdog has been handed a “strategic steer” from Downing Street as the government pushes regulators to adopt its pro-growth agenda. The strategic steer, which is issued to regulators each parliament, sets out the government’s priorities for regulators and how they engage with the private sector. According to the Treasury, the steer “resets [...]
Aviva: Direct Line buyout ‘firmly on track’ despite CMA investigation May 15, 2025 Aviva expects its £3.7bn acquisition of Direct Line to be completed by the middle of this year despite a new investigation by the competition watchdog into the deal. In a trading update, the insurance giant’s CEO, Amanda Blanc, said the acquisition was “firmly on track,” and cash to pay for the takeover had been ring-fenced. Yesterday, the Competition [...]
How the big four banks are proving private capital can drive social change May 15, 2025 Better Society Capital has unlocked £4bn in social investment over 12 years, proving how public-private collaboration can tackle the UK’s most complex challenges – from housing to healthcare. Here’s why it’s time for more investors to step up, says James Chew In 2011, the UK’s four largest banks – Barclays, HSBC, Lloyds and NatWest – [...]
The Capitalist: This isn’t just blackmail, it’s M&S blackmail May 15, 2025 Embarrassing Ed Miliband, dream dinner party guests and window taxes, catch up with the latest gossip from the Square Mile M&S is clearly playing by the book in its response to the crippling cyber attack launched on its systems over Easter, with talk of a £100m insurance claim to help them get over the losses. [...]
Direct Line suffers shareholder revolt over CEO’s huge pay day May 14, 2025 The group behind Direct Line has suffered a huge revolt by its shareholders over its chief executive being handed a huge pay day ahead of its planned £3.7bn takeover by Aviva. In March, City AM reported that Adam Winslow took home a pay packet of more than £7.8m for the insurance giant’s latest financial year. [...]