Plans approved for £600m Euston Tower revamp March 21, 2025 British Land’s plans to strip and redevelop Euston Tower in a £600m project have been approved by Camden Council. The tower, which was originally built in 1970 and sits next to Euston station, will undergo a complete revamp with new office space, restaurants and terraces. “We are delighted to receive planning consent for this incredible [...]
City law firm fined over £400,000 for Russian sanctions breaches March 21, 2025 Law firm Herbert Smith Freehills was hit with a £465,000 penalty after breaching UK financial sanctions imposed on Russia
Lloyd’s reinsurer secures landmark Ukraine reinsurance facility March 21, 2025 MS Amlin, a Lloyd's reinsurer, has secured a reinsurance scheme that could provide up to €1bn (£830m) in annual coverage for Ukraine SMEs
TSB’s new boss takes helm amidst parent company’s uncertainty March 21, 2025 UK retail bank TSB announced on Friday that Marc Armengol had taken over as its new chief executive officer. Armengol, who previously served as corporate strategy director at the lender, was tapped for the role in November 2024. His appointment follows the retirement of former boss Robin Bulloch. Before joining TSB, Armengol worked at the [...]
OBR growth forecast ‘will be halved’ March 21, 2025 Chancellor Rachel Reeves’ hopes for growth are set to be shattered as another forecaster looks to downgrade expectations. The Bank of England halved its growth forecasts from 1.5 per cent to 0.75 per cent in February while the OECD recently dropped predictions the UK would expand by 1.7 per cent. Now The Telegraph is reporting [...]
Walls close in for Rachel Reeves as borrowing shoots up March 21, 2025 Chancellor Rachel Reeves’s headroom is shrinking as government borrowing in February exceeded the Office for Budget Responsibility’s (OBR) prediction, new data showed. Reeves has insisted that financial prudence is key to the government’s economic agenda. But the latest data released by the Office for National Statistics (ONS) suggests she has less headroom than expected. The [...]
Inheritance tax receipts reach record high March 21, 2025 Inheritance tax receipts totalled £7.6bn in the last 11 months, a record high and surpassing last year’s full-year total of £7.5bn. Data from HMRC revealed today that the amount paid in tax was an 11.8 per cent increase from the same period last year. “It may only affect a small percentage of estates, but that [...]
UK ambassadors to have growth ‘KPIs’, foreign secretary tells trade summit March 21, 2025 The UK’s ambassadors will have “KPIs that contribute to our economic growth” as diplomats shift to a more economic mindset, the foreign secretary has said. David Lammy told an audience of businesses that he wants the Foreign, Commonwealth and Development Office (FCDO) to become the “international delivery arm of the government’s missions, the first of [...]
Poppy Gustafsson: UK can be ‘safe haven’ amid Trump turbulence March 20, 2025 The UK can be a beacon of stability to investors and businesses in a world where geopolitical tensions, and “populism and protectionism” are on the rise, the minister for investment has said. Citing the government’s large majority and internationalist outlook, Baroness Gustafsson trumpeted the UK’s offer of long-term certainty to investors, branding the country a [...]
Natwest partners with OpenAI as FTSE giant scales up tech March 20, 2025 Natwest announced on Thursday it has entered a partnership with OpenAI to focus on “bank-wide simplification”. The FTSE 100 lender said it would leverage AI to meet customers’ needs faster and more effectively, whilst increasing productivity and efficiency across operations. The firm said it would deploy “some of the latest and most powerful developments in [...]