Revolut, Allica, Zopa: Analysts back ‘enduring value’ of UK fintech May 13, 2025 UK fintech received a wealth of praise from Peel Hunt analysts in a fresh sector note following a year of rapid growth for the industry. Fintech firms booked record profits in 2024 and have transitioned from disrupting the banking climate to direct competition with traditional lenders. Revolut topped 52.5 million customers in 2024, surpassing Europe’s [...]
Treasury pushes captive insurance decision into late summer May 13, 2025 The Treasury will publish the outcome of the captive insurance consultation later this summer, City AM understands
Reform is rising rapidly, but voter frustration can only carry Farage so far May 13, 2025 Reform UK is surging ahead of Labour, but voter frustration can only carry Farage so far, writes Matthew Lesh.
Bytes Technology warns on increased cyber risk as profit jumps May 13, 2025 Bytes Technology has warned of the increased risk of cyber threats as the Leatherhead-based business reported a jump in profit. The software supplier has upped the risk level of potential cyber threats to “increase” on its list of emerging risks, adding that it made the move “because of evolving and elevated global risk to IT [...]
Employment levels slump as Reeves’ taxes bite May 13, 2025 Employment levels deteriorated in March, official data has suggested, in signs that Chancellor Rachel Reeves’ £20bn tax raid on employers has squeezed firms’ profits. Figures released by the Office for National Statistics (ONS) revealed that the number of payrolled employees fell by 53,000 over the first three months of the year. The early estimate of [...]
Google pays up as antitrust scrutiny heightens May 13, 2025 Google’s recent settlement of $1.38bn (£1.05bn) with the state of Texas marks a significant moment in the tech titan’s ongoing legal battles over both privacy violations and anti-competitive practices. The settlement, which resolves two major lawsuits filed in 2022, accused Google of secretly collecting biometric data such as facial recognition and local tracking, without user [...]
Immigration reforms don’t go far enough May 13, 2025 The UK government’s immigration reforms take a step toward prioritising high-skilled migrants but fall short in scale, clarity, and immediate impact, says Iain Mansfield The government’s proposals to prioritise highly skilled immigration are welcome – the only question is whether they go far enough. Since the pandemic, the profile of immigration patterns has shifted sharply [...]
Cable fault causes London Underground disruption and fire May 12, 2025 A cable fault has caused travel disruption and a fire in London. The Elizabeth, Bakerloo, Jubilee and Northern lines were all disrupted on Monday afternoon after a fault on the National Grid’s transmission network. The malfunction also caused a blaze at an electrical substation in the Cunningham Place and Aberdeen Place area in Maida Vale, [...]
Starmer promises to reduce migration – can he keep his word? May 12, 2025 When the prime minister took to the podium at a Downing Street press briefing this morning, he insisted that “people who like politics will try and make this all about politics.” But the PM’s speech on immigration was anything but apolitical – and he delivered it in the shadow of Nigel Farage’s recent electoral success. [...]
Aston Martin: PIF and Geely billionaire’s shares shift after investment May 12, 2025 The proportion of shares Saudi Arabia’s Public Investment Fund (PIF) and Chinese billionaire Shufu Li’s hold in luxury car brand Aston Martin has changed following a major shares issue. In March Yew Tree Consortium, which is led by chairman Lawrence Stroll, placed 75 million additional shares in the London-listed business. As a result, both the value of the [...]