Rolls-Royce offloads UK pension fund in £4.3bn deal with PIC August 10, 2025 Rolls-Royce has sealed a £4.3bn deal with insurance specialist Pension Insurance Corporation (PIC) to offload its UK pension scheme as the engineering giant presses ahead with simplifying its balance sheet. The deal, which was announced on Sunday, covers the remaining pension obligations of 36,000 members — including 15,000 current pensioners and 21,000 deferred members — [...]
Over 100 civil servants set to be axed in cull of security teams August 10, 2025 More than a hundred jobs could be cut from the organisation in charge of vetting people for security clearance as the Government looks to slim down the Civil Service. The Cabinet Office has proposed reducing the staff at UK Security Vetting (UKSV) to 780 full-time roles, down from its current level of just under 900, [...]
River Island saved from brink of administration but stores to close August 8, 2025 High street retailer River Island has been saved from the brink of administration after a High Court judge approved its restructuring plan
Interest rates likely to remain higher for longer August 8, 2025 Markets are indicating interest rates are set to stay higher for longer than expected after the Bank of England’s “hawkish cut” and gloomy inflation and growth forecasts shocked City analysts. Prior to the Bank’s interest rate cuts, markets had all but priced in a further 25 basis point cut by the end of the year, [...]
Liverpool fans face biggest Premier League ticket scam risk, data shows August 8, 2025 Football ticket scammers fleeced fans out of £2.5m across the last two seasons with the government issuing a warning ahead of the Premier League season. Victims lost an average £128 through ticketing scams, according to data released by Lloyds in association with the Home Office. It is estimated that there have been over 12,000 victims [...]
HMRC must disclose AI involvement in tax decisions August 8, 2025 A court has ruled that HMRC must disclose if it uses artificial intelligence (AI) in key decisions relating to granting research and development tax credits. Tom Elsbury, a tax expert who founded the specialist tax relief software platform Novel, lodged a Freedom of Information (FOI) request back in December 2023. But according to Judge Alexandra [...]
Tom Hayes on life as a free man: ‘I was in a very dark place’ August 7, 2025 Tom Hayes became one of the most infamous names in the Square Mile after he was convicted to 14 years in prison for rigging the Libor interest rate in 2015. It took a decade for him to clear his name. Ali Lyon meets the former banker to hear about life in prison, and what comes [...]
Swiss officials call for Fifa chief Infantino to soften Trump tariff blow August 7, 2025 Fifa president Gianni Infantino has been called upon by political figures in Switzerland to help persuade Donald Trump to lower tariffs on the landlocked nation. The US President has announced that Switzerland is in line to be slapped with 39 per cent tariffs as part of his sweeping economic policies that have seen countries rush [...]
Super League Basketball season gets green light after visa breakthrough August 7, 2025 Super League Basketball clubs plan to begin their new season next month after overcoming a block on obtaining visas for overseas players that had stymied their recuitment. The hold up came when the British Basketball Federation terminated SLB’s licence and refused to sign off on governing body endorsements (GBEs) required for the visas. After weeks [...]
Revolut drafts in EY amid banking licence push August 7, 2025 Revolut has tapped accountancy giant EY to replace BDO as its auditor as the firm pushes to secure its UK banking licence. The UK fintech juggernaut said EY will act as the firm’s auditor for the financial year ending December 2026 after a formal bidding process. This comes as Revolut expects to launch as a [...]