FTSE 100 Live: UK inflation holds at 3.8 per cent, Barclays share buyback October 22, 2025 Good morning from the City PM liveblog team. The UK’s top banks are gearing up for a third-quarter reporting season where all eyes will be on the Labour government’s second Autumn Budget. Speculation of a bank tax hike has dominated chatter around the sector in recent months and elevated fears across the City. It also [...]
Investment minister Jason Stockwood: I don’t want to be political October 22, 2025 Jason Stockwood insists he hadn’t been angling for a plumb ministerial job before the call from Keir Starmer asking for him to be investment minister came six weeks ago. The serial entrepreneur – and Grimsby Town Football Club co-owner – had, instead, been “moaning” about the paucity of politicians with genuine business experience, when the [...]
The Debate: Is there any merit in a wealth tax? October 22, 2025 Pledges to impose a wealth tax are often well received among the public, but would such a policy actually help Brits?
Fully remote with no associates: Meet the ‘elite’ law firm of the future October 22, 2025 US lawyers Michael Pierson and Joel Ferdinand joined forces “with the vision to build the elite law firm of the future”, going in the opposite direction of the traditional market with a tech-focused, full-service approach. Oh, and no offices. And no associates. Founded in January 2024, New York-based Pierson Ferdinand became the largest law firm [...]
Housing secretary Steve Reed ‘overly optimistic’ for betting jobs on housing targets October 22, 2025 The government’s housing secretary, Steve Reed, continues to be optimistic about the chance of a pledge to build 1.5m new homes in England despite mounting concern about delays. Earlier this week, Reed said that he would “absolutely” meet the goal and widespread scepticism would make “celebration all the sweeter”, he told BBC Panorama. “My job should be on [...]
The axe will have to fall on Britain’s runaway public spending October 22, 2025 Rachel Reeves likes to insist that she will “never play fast and loose with the public finances.” It’s a phrase she deploys quite often, not least when it looks as if the bond market could do with a bit of reassurance, and it means that she won’t breach her “cast iron” fiscal rules. Adherence to [...]
Darktrace boss blames employee share rules for London exit October 22, 2025 The boss of Darktrace has said that the London Stock Exchange’s restrictive rules over offering options and equity to staff drove its decision to leave the UK bourse in 2023, saying it limited its ability to attract and retain talent. Jill Popelka told a Bloomberg event that the “limitations” meant that as a London-listed company [...]
Allica Bank makes major acquisition as it eyes £1bn SME lending goal October 22, 2025 Allica Bank is set to announce a fresh acquisition as the firm looks to beef up its lending capacity for small businesses, City PM can reveal. The digital bank has snapped up London-based fintech Kriya, which specialises in embedded finance and business loans. The takeover, set to be announced on Wednesday, marks Allica’s third acquisition [...]
Autumn Budget: JCB boss calls on Reeves not to do anything ‘daft’ October 22, 2025 The chief executive of JCB has called on Chancellor Rachel Reeves not to do anything “daft” in her Autumn Budget which would deter inward investment. Graeme Macdonald, who leads the Staffordshire-headquartered manufacturing giant under chairman Lord Anthony Bamford, said he’s “not optimistic” about the Budget next month, adding that Reeves is “definitely” going to raise [...]
Up to £115bn government spending cuts ‘staring us in the face’ October 22, 2025 Around £115bn in cuts to government spending each year are “staring us in the face”, according to a new report, as Chancellor Rachel Reeves faces increasing pressure to regain control of the public finances. In a paper published by the think tank Policy Exchange, the Chancellor has been warned to prevent a “twin-pronged fiscal crisis” [...]
