Rachel Reeves vows to fight for economic growth January 28, 2025 The Chancellor will declare that “growth won’t come without a fight” as she unveils her plan to turnaround Britain’s ailing economy with billions of pounds of investment and new infrastructure projects. Reeves will pledge an £80bn boom to the economy from a new Oxford-Cambridge Growth Corridor in a move that comes after the pensions industry [...]
Immigration to lift population by 5m and boost the economy January 28, 2025 Based on current trends, the Office for National Statistics (ONS) suggests the population will hit 72.5m by mid-2032, over seven per cent higher than in 2022.
Phoenix to restructure pensions business as Standard Life boss retires January 28, 2025 Phoenix Group is set to merge its pension solutions and asset management arms this year in a bid to rein in costs, as the boss of its Standard Life brand retires from the company after five years. In a statement today the FTSE 100 pensions giant, which manages around £290bn assets for savers, said it [...]
CT Group appoints Baroness Helena Morrissey as non-executive January 28, 2025 Sir Lynton Crosby's consulting firm CT Group has appointed Baroness Helena Morrissey as a non-executive director, City AM can exclusively reveal
HSBC set to wind down UK, European and US investment banking arms January 28, 2025 HSBC is set to wind down parts of its investment banking operations across the UK, Europe and North America as part of a sweeping global restructuring plan under new chief executive Georges Elhedery. The move comes after Europe’s biggest lender revealed plans to make $3bn (£2.4bn) of cost savings last year and reorganise into four [...]
CMA chair pledges to speed up decision-making after government backlash January 28, 2025 The new chair of the competition watchdog has pledged to speed up its decision making and bring in outside expertise as part of plans to reshape the agency following months of criticism. Doug Gurr, a former Amazon executive who was parachuted in to lead the body after ministers ousted his predecessor last week, said “lengthy [...]
Harland & Wolff: Over 1,000 jobs saved at Titanic builder after £70m rescue deal completes January 28, 2025 A deal to save troubled shipbuilder Harland & Wolff, which crashed into administration owing more than £160m last year, has been completed. The acquisition, first announced in December 2024, will save over 1,000 jobs. Spain-headquartered Navantia has acquired the business and assets of Harland & Wolff Group, which include all four operating yards in Belfast, Appledore, Methil [...]
Glaring contradiction at heart of government growth agenda January 28, 2025 In the Enterprise and Regulatory Reform Act of 2013 (stay with me) the Competition Commission and the Office of Fair Trading were abolished, and in their place emerged the Competition and Markets Authority. The 2013 Act enshrined the regulator’s remit and responsibilities, with a hefty focus on protecting consumers. On the CMA’s website, they summarise [...]
Zuckerberg’s transition from geek to jock heralds the dawn of the alpha age January 28, 2025 Zuckerberg’s masculine makeover is emblematic of how Silicon Valley – previously the bastion of Californian idealism – has fully pivoted towards the Trump era, says Eliza Filby Back in early 2019, before the world had any inkling of what lay ahead, I attended a conference called: Disruption. It took place in a futuristic, windowless dome, [...]
Nearly a million extra savers face shock tax bills January 28, 2025 Almost 1m more savers could be hit with shock tax bills this year, Shawbrook Bank has warned – unless they keep their cash in an ISA. More than 6m savers will pay tax on interest in 2025, up 800,000 from the number of savers who had to pay tax on interest last year. This is [...]