Barclays completes £600m Tesco Bank takeover November 1, 2024 Barclays has completed its £600m takeover of Tesco’s banking arm after high court approval for the buyout came on 17 October. As part of a ten-year partnership between the two firms, Barclays will begin operating and managing Tesco Bank. Tesco will keep all of its existing insurance and money services activities, including ATMs, travel money [...]
Motor finance industry in crisis mode after landmark court ruling November 1, 2024 Motor finance providers are scrambling to avoid a full-blown market meltdown after a landmark London court ruling on "secret" car loan commissions sparked chaos across the sector.
Retail footfall returns to downward trend after September spike November 1, 2024 After a brief rise in September, retail footfall has fallen again in October, as the number of feet on Britain’s streets returns to its downward trend. Total UK footfall decreased by 1.1 per cent year on year in October, down from a rise of 3.3 per cent in September. Many in the sector, which has [...]
Budget 2024: Why the post-match politics are risky for Labour October 31, 2024 After months of speculation, Rachel Reeves has finally unveiled Labour’s first Budget in power. Coming in the wake of 14 years in opposition, this big tax and spend – and borrow – document is very much an ideological project, with the NHS, schools and low-paid workers among the big winners. The Chancellor may have ditched [...]
Reeves playing ‘same silly games’ as her predecessors, IFS says October 31, 2024 The Chancellor Rachel Reeves has been accused of playing the “same silly games” as her predecessors after forecasting that public spending will tail off towards the end of this parliament following a short-term spike.
Salon chain owner breaks down over National Insurance rise October 31, 2024 The owner of a chain of salons broke down on Sky News on Thursday when talking through how some of the measures introduced in the Budget will affect small businesses like his.
Reeves has chosen decline October 31, 2024 Labour have stuck to the line that they had “no choice” but to make “tough decisions”, but Rachel Reeves had an opportunity to put forward a Budget to kickstart economic growth, and she chose to do the opposite, says James Vitali “Politics is always a choice”, the Prime Minister said on Monday during a pre-Budget [...]
Workers will bear the brunt of tax rises, OBR says October 31, 2024 Workers will end up shouldering the majority of the government’s national insurance hike, the fiscal watchdog said, as Rachel Reeves admitted that pay growth will suffer due to her tax plans. The Chancellor announced tax rises worth £40bn yesterday, making it the biggest tax-raising fiscal event since 1993. Changes to employers’ national insurance made up [...]
Halloween Budget could still give businesses a fright in the night October 31, 2024 The Budget was not as shocking as some were expecting, but a few things could still go bump in the night, says Tim Sarson Today saw the delivery of one of the most hotly anticipated Budgets in living memory. After 14 years in opposition and an election manifesto with relatively muted tax rises, it must [...]
Sainsbury’s sells Argos credit cards for £720m in financial services retreat October 31, 2024 Sainsbury’s has struck a deal to sell its Argos credit card portfolio for roughly £720m as the supermarket withdraws further from financial services to focus on retail.