Paypal becomes latest fintech to capitalise on Trump’s deregulation December 16, 2025 Paypal has its sights set on acquiring a banking licence in the US as it becomes the latest fintech aiming to jump on President Donald Trump’s deregulatory agenda. The payments giant on Monday said it had submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to form Paypal Bank. [...]
Aussie Green reaches record IPL auction sale price December 16, 2025 Australian Cameron Green has been sold for £2.1m at the Indian Premier League auction to become the most expensive overseas cricket player in history. The all-rounder will play for Ramandeep Singh’s Kolkata Knight Riders in the 2026 IPL competition having been purchased for 25.2 crore by the eastern team. The Kolkata Knight Riders, whose 2024 [...]
FCA: Motor finance lenders ‘very focused’ on negatives of redress December 16, 2025 The boss of the UK’s financial watchdog has taken a swipe at motor finance lenders that are begrudged with the regulator’s redress scheme, stating they are “very focused” on the negatives. In a session with the Treasury Select Committee, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA) opened the door to changing the [...]
Fowl play: Morrisons loses £17m VAT battle over rotisserie chickens December 16, 2025 Supermarket giant Morrisons faces a £17m tax bill after the First-Tier Tax Tribunal threw out its dispute over VAT on cool-down rotisserie chickens. The dispute arose from George Osborne’s controversial 2012 Finance Act changes that sought to clarify the VAT treatment of hot takeaway food, famously known as the “pasty tax” debacle. Morrisons tried to [...]
Premier League clubs count £1bn cost of injuries December 16, 2025 Premier League clubs have forked out more than £1bn in wages to injured players across the last five years, a new study has found. Since the start of the 2020-21 season, 5,367 injuries in the English top flight have cost its clubs £1.2bn in salary payments – equivalent to a quarter of their matchday revenue [...]
Kylian Mbappe wins £53m payout from Paris Saint-Germain December 16, 2025 Champions League holders Paris Saint-Germain have been ordered to pay Kylian Mbappe €60m (£53m) after he won a legal dispute over unpaid wages and bonuses. Mbappe had been claiming €263m (£231m) from PSG, who counter-sued the France captain for €240m (£211m), following his acrimonious move to Real Madrid in summer 2024. A French labour court [...]
Redundancies hit highest level since pandemic as unemployment climbs higher December 16, 2025 The UK unemployment rate jumped above the 5 per cent mark and redundancies surged to their highest level since the pandemic. The Office for National Statistics (ONS) published damning figures on Tuesday morning that will likely send chills throughout the Labour government ministers ahead of the Christmas break. It said the number of payrolled employess [...]
FCA boss: Treasury and MPs slowing deregulation push December 16, 2025 The pedestrian pace of government and parliament is preventing City watchdogs from introducing pro-growth measures fast enough, the boss of the Financial Conduct Authority (FCA) has said as he called for the introduction of statutory timetables to ensure the Treasury ratifies deregulation faster. Nikhil Rathi told the Treasury Committee that the FCA was “moving as [...]
Shoosmiths to give staff extra £1m after hitting AI target December 16, 2025 Law firm Shoosmiths will give staff an extra £1m in bonuses after they hit the firm’s annual target for 1m Microsoft Copilot prompts more than four months ahead of schedule, City PM can reveal. The firm told City PM in April that it had set a “clear and ambitious annual target” of 1m on its [...]
Leyton Orient hire firm behind world’s biggest stadium for new home December 16, 2025 Leyton Orient have appointed Populous, the architects behind Wembley and the Tottenham Hotspur Stadium, to design their new home in East London. The third-tier club announced plans earlier this year to relocate from Brisbane Road to a new ground, which will be the centre of a multi-use development also featuring shops, restaurants and leisure facilities. [...]
