Revolut looks to France for major European expansion May 19, 2025 British-born digital bank Revolut has chosen Paris for its fresh Western Europe headquarters with a major €1bn investment. The fintech giant said it will create over 200 jobs in France, in what it calls the “largest investment in the French financial sector in a decade.” The firm has also applied for a French banking licence, [...]
Natwest and Lloyds to cash in as Reeves hints at ring-fencing reform May 19, 2025 Rachel Reeves has told top bank bosses she is “open-minded” to ditch the ring-fencing regime imposed on major banks. The Chancellor was lobbied by the chiefs of HSBC, Lloyds, Natwest and Santander to scrap the 15-year-old legislation last month. Lenders slammed the system – which requires firms to keep their retail bank operations separate from [...]
Inflation set to ramp up after ‘Awful April’ May 19, 2025 Inflation is expected to have risen above three per cent last month in data which will reflect the costly impacts of what has been dubbed ‘Awful April’ due to tax rises and bill hikes. A Bloomberg poll of economists has predicted inflation to come in at 3.3 per cent, a sharp spike from March when [...]
Firms delay tax payments as costs soar May 19, 2025 Unpaid business tax liabilities are averaging as much as £28bn a month this year, official data has revealed, suggesting firms are struggling to keep up with mounting costs. Chancellor Rachel Reeves’ £40bn tax hikes last autumn, including rises to employers’ national insurance contributions, were designed to lift the public finances and reduce borrowing. But new [...]
The Square Mile’s latest office transformation gets green light May 19, 2025 A huge redevelopment of 1 Moor Lane has been given the green light by Canada Corporation as the Square Mile looks to boost its office capacity. The all-electric transformation of the building by Brookfield Properties will add 300,000 sqft (27,000 sqm) of grade-A offices to the City, increasing the amount of office [...]
Government to clamp down on ‘buy now pay later’ services such as Klarna and Clearpay May 19, 2025 Fintechs including Klarna and Clearpay providing ‘buy now pay later’ services will face fresh regulation by the Financial Conduct Authority (FCA) after years of wrangling and delays. New rules will require financial services providers to conduct affordability checks as part of efforts to make banking standards more consistent. Borrowers will also be able to make [...]
Visa for the ‘super rich’ won’t bring back non-doms, MPs say May 19, 2025 The government has floated a new “investor visa” in an attempt to stop the flight of millionaires from the UK, with plans in the early stages of development. The visa would reward those who invest heavily into the UK – particularly in strategically important areas such as AI and clean energy – with a route [...]
Keir Starmer reaches tentative EU trade deal ahead of summit May 19, 2025 Sir Keir Starmer has agreed a tentative trade deal with the EU, the biggest shake-up of Britain’s relationship with the bloc since Brexit. The UK-EU deal is expected to involve a new trading arrangement and a border deal and could extend to a new security and defence pact, which could open up access to the [...]
Labour to back use of ChatGPT and AI in schools May 19, 2025 The UK will back international guidelines on using generative AI such as ChatGPT in schools, the Education Secretary is set to announce. In a speech to the Education World Forum in London on Monday, Bridget Phillipson will aim to put Britain at the forefront of a “revolution” in education technology. As well as funding efforts [...]
Elton John slams government as ‘losers’ over AI copyright row May 18, 2025 Sir Elton John described the Government as “absolute losers” and said he felt “incredibly betrayed” after calls by peers to amend the Data (Use and Access) Bill to include greater copyright protections against artificial intelligence (AI) were resisted. Earlier this week, the House of Lords supported an amendment designed to ensure copyright holders would have [...]
