Swatch: Rachel Reeves’ tax hikes could see profit fall further July 16, 2025 Swiss watch brand Swatch has warned its UK profit could continue to shrink as a result of Chancellor Rachel Reeves’ tax hikes. The business has said the increase in employer’s National Insurance contributions – which were announced in October 2024 and came into effect in April this year – will increase operational costs. Swatch added [...]
The Debate: Should we turn empty City office blocks into nightlife venues? July 16, 2025 A new report has imagined a future where ravers head to the disused office blocks of the City on the weekends. Is it madness or genius?
City raises a glass to Reeves’ reforms July 16, 2025 The City may have been a bit damp and grey yesterday but the Chancellor appeared as a welcome ray of sunshine. At City AM, we haven’t held back in our criticism of this government’s economic policies – and we’ll return to that theme before long, I’m sure – but we also believe in giving credit [...]
Peter Kyle says UK could overtake US in tech amid record startup growth July 15, 2025 Technology secretary Peter Kyle has said the UK is positioned to “overtake America” in key areas of tech, as a new wave of regulatory reforms aims to fast-track innovation and attract investment across AI, fintech and biotech. In an interview on the UKTN Podcast, Kyle argued that the UK is now creating “the best regulatory [...]
Government set up secret £850m scheme to offer Afghans asylum after data breach July 15, 2025 The UK government set up a secret £850m scheme to relocate some 25,000 Afghans and their families after an unprecedented data breach put them at risk of persecution from the Taliban. The leak of the identities of thousands of Afghans, including those applying for asylum, came in early 2022 when a soldier inadvertently sent a [...]
AI disrupts UK hiring for tech and entry level roles July 14, 2025 UK employers are significantly scaling back hiring roles at risk of being disrupted by artificial intelligence (AI), adding signs of a broader labour market slowdown. New data from McKinsey & Co revealed that online job postings fell 31 per cent in the three months to May, compared with the same period in 2022. Yet the [...]
Bank of England interest rate cut ‘almost certain’ after poor growth July 11, 2025 Fresh growth figures have fuelled speculation of an August interest rate cut in a bid to give the waning UK economy a shot of life. The Office for National Statistics (ONS) revealed on Friday the UK economy shrunk for the second consecutive month with a 0.1 per cent contraction in May. Deutsche Bank’s chief economist [...]
Post Office Scandal: Government contracts awarded to Fujitsu even after Mr Bates ITV drama July 10, 2025 Government bodies kept awarding Fujitsu with contracts to the tune of £500m even after the ITV drama Mr Bates vs The Post Office brought the Post Office Horizon scandal to national prominence. That’s according to LBC, alongside the public sector data analytics firm Tussell, which found that 23 contracts were handed out to the firm [...]
Banks shut eight branches a week since 2016 July 10, 2025 British banks have accelerated their retreat from the high street, shutting an average of eight branches a week since 2016 in a dash to bulk up digital offerings. Nearly 3,700 sites closed between 2016 and 2024, creating 41 ‘banking deserts,’ which refer to local authorities where at least one branch shut for every 10,000 residents. [...]
Reform top the polls but voters cool on Nigel Farage July 9, 2025 Reform UK continues to ride high in the opinion polls – climbing 16 points since last year’s election – yet voters appeared to have cooled on Nigel Farage as new City AM polling suggests he’s lost some of his shine. A post-government slump in support for the Conservative Party and lack of approval for the [...]