National Wealth Fund boss calls for public finance consolidation July 1, 2025 The boss of Labour’s National Wealth Fund has urged the government to remain open to consolidation of public finance institutions in a bid to ease confusion for the private sector. In a hearing on Tuesday, the chief executive of the National Wealth Fund (NWF) John Flint told MPs he would “encourage” the Treasury “not to [...]
How to solve the UK’s non-dom conundrum July 1, 2025 After industry experts poured cold water on Reform’s ‘Britannia Card’, and amid rumours the Chancellor is examining options to row back on elements of her non-dom reforms, Ali Lyon asks what policies might be on the table – and whether they will work. As Nigel Farage stepped up to a mundane-looking podium in a stuffy [...]
Manufacturers fear Labour government will ‘derail growth’ July 1, 2025 Manufacturers continued to see output decline in June, fresh data has shown, as most business owners are now looking at how they can grow under the Labour government. The UK government last week unveiled its industrial strategy aimed at giving high-growth sectors such as advanced manufacturing confidence over the next ten years. But fresh research [...]
Government calls for investigation as Lindsey refinery owner folds July 1, 2025 The government has called for an urgent investigation after the group behind one of Britain’s largest oil refineries collapsed into administration, putting hundreds of jobs at risk. State Oil – the parent company of Prax Group, which owns the Lindsey refinery in North Lincolnshire – appointed administrators on Monday. A separate winding-up order has also [...]
Ofgem gives green light to landmark electric grid upgrade July 1, 2025 The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed [...]
Exclusive: Kemi Badenoch makes her pitch to the City July 1, 2025 Kemi Badenoch has apologised to the business community for any trust lost under previous Tory governments, insisting that “the Conservative party is the natural party of business.” The Tory leader said “I’m sorry if at any time over the last 14 years we did not seem like that,” adding that hers is now “the only [...]
Can Kemi Badenoch woo the City? July 1, 2025 The Conservative leader sits down with City PM’s City editor, Simon Hunt. The Labour government is gearing up for an anniversary. On 5 July, the party will have completed its first full year in office since it was kicked out in 2010. Having won last summer’s general election with a thumping majority of 411, Sir [...]
National wealth fund boss slams banking industry’s risk appetite June 30, 2025 The boss of the National Wealth Fund has blasted the banking industry’s risk appetite and cited the lack of risk-taking as the reason for waning growth figures. Speaking at City Week on Monday, John Flint, the chief executive of the newly-established government body, said: “The banking system is very heavily regulated and in the best [...]
City minister doubles down on green finance as firms turn sour June 30, 2025 The City minister has reaffirmed the government’s ambition for a green transition across the financial services sector, despite the industry pivoting on climate priorities. Speaking at City Week on Monday, Emma Reynolds said: “The UK has a world leading financial and related professional services ecosystem and the research that is needed to integrate sustainable finance.” [...]
Polar Capital: Profit jumps as boss departs June 30, 2025 Asset manager Polar Capital reported a surge in profit for the latest financial year but a tough final quarter and the threat of market volatility lingered over results. The London-listed firm recorded a 27 per cent jump in core operating profit to £56.7m for the year ending March 31 2025. Pre-tax profit dipped six per [...]
