Revolut adds ex-Lord Mayor and KPMG veteran to UK board ahead of bank launch December 6, 2024 Revolut has appointed a former Lord Mayor of London and Big Four veteran to its UK board as the fintech giant prepares to launch as a fully-fledged bank in its home market. The London-based banking company added Fiona Fry and Peter Estlin as non-executive directors while it works through the mobilisation period for its UK [...]
Gatwick and Birmingham airport chiefs urge Rachel Reeves to tackle business rates threat December 5, 2024 Chief executives from Gatwick and Birmingham Airport have criticised Chancellor Rachel Reeves' planned changes to business rates.
Bank of London shakes up UK board in investor-led recovery plan December 5, 2024 The Bank of London has appointed four new directors to its UK bank board and replaced its chair as the troubled fintech ‘unicorn’ looks to recover from a string of setbacks in recent months. The lossmaking start-up, which has faced heavy scrutiny over its governance and finances, said on Thursday that Metro Bank director Catherine [...]
Starmer pledges to deliver ‘higher living standards’ in milestones speech December 5, 2024 Sir Keir Starmer has pledged to deliver “higher living standards” across the UK by the end of this parliament – but did not put a figure on his target. The Prime Minister aimed to flesh out his pre-election promise to kickstart economic growth, as he set out a set of new “milestones” in a major [...]
Firms set to hike prices, reduce pay and cut staff, Bank of England survey shows December 5, 2024 More than half of firms surveyed by the Bank of England expect to raise prices in response to the Budget.
Mike Ashley’s Frasers lowers profit guidance following Budget December 5, 2024 The retailer expects to deliver adjusted pretax profit in the range of £550-£600m for the 2025 financial year, down from £575-625m previously.
More big tax rises are ‘inevitable’, ING says December 5, 2024 Rachel Reeves will have to do another “big top-up” of tax rises this parliament, analysts at a major bank have said, despite the Chancellor previously vowing not to. In its outlook for 2025, published today, Dutch lender ING said that Reeves’ controversial October Budget “is likely just the beginning” of several more Budgets characterised by [...]
UK economy to ‘grow twice as fast’ as Europe in 2025 December 5, 2024 The UK economy is set to grow twice as fast as its European counterparts next year thanks to the flurry of spending measures announced in October’s Budget, a top bank has forecast. Britain’s gross domestic product (GDP) will increase by 1.4 per cent next year, analysts at ING said in the bank’s annual economic outlook, [...]
Businesses will ‘lick their wounds’ after Budget, even if growth picks up December 5, 2024 The BCC said the upgrades were driven by "increased levels of government spending" following the Budget.
Mark Kleinman: Tucker’s luck could mean handing over HSBC reins during a trade war December 5, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles HSBC’s chair changeover, the FCA’s recent climbdown, and a mighty job at Mitie. Tucker’s luck could mean handing over HSBC reins during a trade war Just as one swallow doesn’t make [...]