Business leaders are piling fresh pressure on the government to scrap its controversial tourist tax as data shows it is eating away at the UK’s GDP and banishing international visitors. …
Financial Planning
Business group slams head of banking resolution scheme for ‘misleading’ MPs
Representatives of small and medium-sized businesses (SME) have hit out at “misleading” and “inaccurate” comments made by the chief executive of a banking resolution scheme in parliament last week. Mark …
Flutter: London set for further blow as gambling giant heads for New York
FLUTTER said yesterday that New York would be its “natural home” in another blow to London’s bruised and battered stock exchange. The owner of PaddyPower and – more pertinently – …
UK’s record energy transition investment needs to double to hit net zero targets
The all-time high energy transition investment levels seen in 2023 will need to triple and remain consistent through the next six years to meet net zero targets, a new report …
HSBC fined £57.4m by Bank of England’s PRA over historic depositor protection failings
HSBC has been fined £57.4 million by the Bank of England’s Prudential Regulation Authority for “serious failings” over customer deposit protection. The fine represents the second highest penalty ever imposed …
Diageo: Volumes slips in every region but Latin American horror show drags profits south
Diageo, the drinks giant behind Guinness and a host of top-shelf spirits, has seen growth slip in every region across the world, dragging profits sharply southward. The FTSE 100 firm …
High interest rates hurt but they might just be the medicine UK productivity sorely needs
A post Global Financial Crisis policy of zero interest rates has facilitated investments which deliver poor returns, writes James Sproule Productivity is often seen as the key for sustainable growth. …
PayPal co-founder Peter Thiel and former Coinbase figure invest in the Enhanced Games, a drug friendly Olympics alternative
The billionaire co-founder of PayPal Peter Thiel has invested in the drug friendly alternative to the Olympics, the Enhanced Games. The Enhanced Games has promised the freedom to use banned …
Bunq mulls London IPO as European neobank plots Monzo and Revolut UK challenge
European fintech and neobank Bunq has applied for a UK electronic money institution (EMI) licence as it looks to capture market share from the likes of Revolut and Monzo ahead …
UK Finance boss: City’s post-Brexit ‘challenger’ role takes ‘some getting used to’
David Postings is the man responsible for putting the country’s financial services industry on the government’s agenda. Despite well-reported headwinds, he’s optimistic for the future. Top of the world? That …