Is the UK’s digital services tax at risk from a US tariff threat? August 26, 2025 The Digital Services Tax (DST), a two per cent levy on the revenues of major tech firms, has become a key point of friction in the UK’s transatlantic relationship with the US. The tax, which came into force in 2020, was designed to address an imbalance where global tech giants generate significant revenue from British [...]
Trump says he will fire Federal Reserve governor August 26, 2025 President Donald Trump has said that he is firing Federal Reserve governor Lisa Cook. The unprecedented move would constitute a sharp escalation in his battle to exert greater control over what has long been considered a financial institution independent from day-to-day politics. Mr Trump said in a letter posted on his Truth Social platform that [...]
Dovish Powell hints at more rate cuts in US August 22, 2025 The Federal Reserve is likely to cut US interest rates at its next decision in September, Jay Powell has said, despite the country’s softening labour market being in conflict with upward pressure in prices from Donald Trump’s tariffs. In an eagerly anticipated address at the Jackson Hole symposium, the Fed chair highlighted slower economic growth, [...]
Standard Chartered shares rally after US rejects whistleblower claims August 22, 2025 Shares in Standard Chartered rallied on Friday after it emerged the US government has rejected whistleblower claims that it breached sanctions rules. Allegations over the banking giant’s practices had courted the attention of US president Donald Trump, who last week took to Truth Social to post a link to an article about the claims published [...]
How the banking net zero fantasy ran out of gas August 20, 2025 Over the past year, the world’s biggest banks‘ net zero enthusiasm has quickly and quietly dried up. Top lenders have backtracked, diluted or outright abandoned their environmental, social and governance (ESG) policies. The return of President Donald Trump has been highlighted as a turning point for green finance with firms across the financial industry turning sour [...]
Defence: Babcock, BAE, Rolls-Royce plunge on Ukraine summit August 19, 2025 London-listed defence stocks plunged across the board on Tuesday, after this week’s talks between Washington and Ukraine led traders to pare back bets on the role that European countries will play in any post-ceasefire peacekeeping efforts. Shares in FTSE-100 engineering group Babcock – one of the best performing companies on the London Stock Exchange this [...]
UK backs down on plans to force Apple to share encrypted user data August 19, 2025 The British government has backed down on plans to force Apple to share encrypted user data, according to President Trump’s intelligence chief. Tulsi Gabbard told the Financial Times that the government has agreed to abandon its demands for a “back door” for data. US vice-president JD Vance reportedly intervened to broker the exemption for the [...]
Ukraine War: Trump says Zelensky and Putin to meet after ‘very good’ summit August 19, 2025 Presidents Vladimir Putin and Volodymyr Zelensky will meet, Donald Trump has said following a White House summit with European leaders aimed at bringing an end to the war in Ukraine. The US president spoke directly with the Russian president to begin planning a meeting between the two warring leaders, which will then be followed by a [...]
Boots on the ground in Ukraine? Brits don’t want to fund it August 19, 2025 With an electorate that doesn't back higher defence spending, Healey's promise to put troops in Ukraine looks like political grandstanding.
London businesses optimistic for future economic growth, KPMG says August 18, 2025 The vast majority of private business owners in London have recorded rocketing optimism about their growth prospects, but concerns surrounding the impact of inflation remain, according to the latest KPMG private enterprise barometer survey. Following a challenging first financial half of the year, with businesses hit with tariff turmoil and ongoing geopolitical tensions, confidence in [...]
