Business - Page 2

London (Parliament Politics Magazine) – The Financial Conduct Authority (FCA) fined Macquarie Bank £13m for serious control failures that allowed a junior trader to record over 400 fake trades, costing the bank £46m to resolve. Macquarie Bank’s London office has been fined

London (Parliament Politics Magazine) – Cyber Attacks have cost UK businesses £44 billion over five years, with over 50% reporting incidents, often caused by email compromises and data theft. Britain firms have suffered losses of an estimated £44 billion ($55.08 billion) in

London (Parliament Politics Magazine) – The UK’s government borrowing reached £17.4bn, more than expected, mainly due to higher debt interest payments. The facts highlight growing fiscal difficulties, with potential tax hikes to manage the rising public debt and spending.  The British government

London (Parliament Politics Magazine) – Inflation in the UK rose to 2.3% in October, heaping stress on the Bank of England to delay further interest rate cuts until next year. Statistics released by the UK’s Office for National Statistics (ONS) revealed that

London (Parliament Politics Magazine) – UK retailers, including Tesco and Marks & Spencer, have warned Chancellor Rachel Reeves of a £7 billion cost increase from budget tax rises, leading to job reduction and higher prices. The British Retail Consortium (BRC) insisted the

London (parliament Politics Magazine) – UK home prices have fallen by over £5,000 this month, as the autumn budget triggered concerns in the housing market ahead of the seasonal Christmas slowdown.  According to the UK’s real estate website Rightmove, in November, the

London (Parliament Politics Magazine) – Welsh Secretary Jo Stevens announces 13m grand scheme for Port Talbot workers and businesses hit by Port Talbot Blast Furnace Closures. The UK government launches a new fund scheme to support steelworkers after job losses. This scheme

London (Parliament Politics Magazine) – The UK’s economy expanded by only 0.1% between July and September 2024, according to a report from the Office for National Statistics (ONS). UK GDP saw a 0.1% drop in September with the services sector flat growth

London (Parliament Politics Magazine) – UK Ministers are insisting the live music industry impose a voluntary levy on tickets to big concerts at stadiums and arenas to support funding grassroots venues. Ministers have stated they will consider the significance of this move

London (Parliament Politics Magazine) – Macquarie Asset Management and Ferrovial, via Macquarie European Infrastructure Fund 4, have agreed to sell AGS Airports to AviAlliance. On Wednesday, Spanish infrastructure giant Ferrovial and its partner Macquarie confirmed that it will sell the operating rights

London (Parliament Politics Magazine) – The unemployment rate rose to 4.3% in the UK during the three months before September, marking ongoing issues in the job market.  Official reports signal a rise in the UK’s unemployment rate indicating a slowdown in pay

London (Parliament Politics Magazine) – Sanjeev Gupta, CEO and chairman of the GFG Alliance, plans to go to court to gain approval to restructure the majority of Liberty Steel’s remaining operations in the UK. A private company, Liberty Steel, owned by Mr

London (Parliament Politics Magazine) – UK’s financial watchdog fined Metro Bank nearly £17m for failings in its money-laundering rules over four years. The Financial Conduct Authority (FCA) administered the £16.7m penalty after finding losses in monitoring 60m transactions over a four-year period

With Black Friday approaching on November 29 and the holiday shopping season underway, TSB is alerting consumers to a surge in online purchase scams. New data from the bank reveals that purchase scams account for over half (55%) of authorised push payment

Metro Bank has been fined £16.6 million by the Financial Conduct Authority (FCA) due to severe shortcomings in its anti-money laundering (AML) systems between 2016 and 2020. These lapses in regulatory compliance allowed gaps in transaction monitoring for more than 60 million

LONDON, Nov 12 – British wage growth has slowed to its lowest pace in more than two years, providing the Bank of England with reassurance that inflationary pressures may continue to ease. Data released by the Office for National Statistics (ONS) showed

For the first time in history, Bitcoin has crossed the $80,000 mark (£62,000) following Donald Trump’s decisive victory in the recent U.S. election. With Republicans nearing full control of Congress, the cryptocurrency market is witnessing unprecedented excitement, fueled by Trump’s pro-crypto agenda.

In a major development following his recent election victory, Donald Trump has reiterated his campaign pledge to impose tariffs on all imported goods into the United States. Economists and business leaders worldwide are closely watching the former president’s statements, assessing the potential

London (Parliament Politics Magazine) – The Bank of England has slashed interest rates despite cautioning that Rachel Reeves’s budget will confuse its battle against high inflation by holding the rate beyond its 2% target for a year longer than previously anticipated. In

London (Parliament Politics Magazine) – Sales of electric cars in the UK rose in October despite overall demand for vehicles declining as manufacturers raced to satisfy government thresholds. According to data issued by the Society of Motor Manufacturers and Traders (SMMT), a

London (Parliament Politics Magzine) – Rachel Reeves has confessed she was wrong to express before the election that no major tax rises would be required but promised there was “no need to raise taxes further” after last week’s budget increased £40bn. The

London (Parliament Politics Magazine) – The Conservative party has been notified to improve its data handling by the information watchdog after it unleashed a “tax calculator” that also seemed to be collecting voter data. The Information Commissioner’s Office (ICO) penned to the

London (Parliament Politics Magazine) – IMF has welcomed the steps announced by Rachel Reeves in her first budget, expressing her £40bn of tax rises would increase growth “sustainably”. The Washington-based International Monetary Fund (IMF) supported her increase in investment and extra spending

London (Parliament Politics Magazine) – Minimum pay in the UK will increase next April, with hourly rates for those over 21 arranged to rise to £12.21 an hour, the chancellor has confirmed. Chancellor Rachel Reeves stated the pay increase marked a “significant

London (Parliament Politics Magzine) – Labour’s tax increase will not strike workers’ payslips, the UK education secretary has pledged. Bridget Phillipson expressed that the tax rises being prepared by Rachel Reeves would not impact employees’ take-home pay, as ministers struggle to define

London (Parliament Politics Magazine) – A £500 million Budget cash boost will pay for 5,000 affordable houses to be constructed, Rachel Reeves has reported. The funds for the Affordable Homes Programme will be a portion of a scheduled £5 billion investment designed

London (Parliament Politics Magazine) – Chancellor Rachel Reeves has stated that “main taxes on working people” will not increase in the Budget. The reassurance came a week before Reeves delivered her first Budget, and the first delivered by a woman. Labour pledged

London (Parliament Politics Magazine) – As part of the UK’s green energy targets, more than 1,000 new homes will be built across northern Scotland. SSEN Transmission, a subsidiary of the electricity company SSE, has marked a deal with local councils and housing

London (Parliament Politics Magzine) – UK Chancellor Rachel Reeves is set to hit aristocrats and other rich property owners with a £1 billion inheritance tax raid in her Budget. Rachel Reeves is peeking at reforming business relief, a loophole which permits the

London (Parliament Politics Magazine) – Chancellor Rachel Reeves vows to create a tax system that keeps wealth creation and investment but cautions decisions will ‘not always be easy’ The Chancellor has given the clearest indication yet that businesses will face a hike

London (Parliament Politics Magazine) – London Stansted has announced details of a £1.1bn investment programme to expand passenger numbers to 43 million a year and expand the number of destinations it flies to. The centrepiece of the five-year program is a £600m

London (Parliament Politics Magzine) – The Tories have cautioned that Labour will be culpable of breaking its manifesto promise on taxes if it enhances employers’ national insurance (NI) contributions in this month’s Budget. The assertion from shadow work and pensions secretary Mel

London (Parliament Politics Magzine) – Unions are urging UK ministers to undo “years of damage to the housing sector” by the prior Conservative government and honour its commitment to tackling the housing emergency by presenting a form of rent cap. Steve North,

London (Parliament Politics Magazine) – Strategies to broaden access to a new type of pension scheme permitting savings to be pooled have been set out by the UK Government.  Collective defined contribution (CDC) pension schemes have the prospect of delivering trustworthy returns

London (Parliament Politics Magazine) – UK house prices increase for the third month in a row to a near-record high. UK house prices rose for the third month in a row in September to nearly £200 short of a record high as

London (Parliament Politics Magzine) – The Bank of England is functioning on technology to settle blockchain payments employing central bank money to stop a shift to a private settlement that could damage financial stability, according to a senior official. Sasha Mills, executive

London (Parliament Politics Magazine) – Small businesses have blamed water suppliers for saddling them with the price of “historic errors” made by managers in the scandal-hit industry, as it appeared their bills will rise nearly 30% by 2030. The water industry regulator,

London (Parliament Politics Magazine) – UK house prices are rising at their fastest annual rate for nearly two years as borrowing prices continue to fall on expectations that the Bank of England will keep cutting interest rates, Nationwide has stated. The building

London (Parliament Politics Magzine) – UK small businesses at threat of closure due to increasing costs and hidden bank costs, study reveals. A shocking seven out of 10 small and medium companies are living in fear that escalating expenses could force them

London (Parliament Politics Magazine) – The UK economy is to expand faster than Japan, Italy and Germany this year. The global economy is “turning a corner”, according to the latest perspective from the Organisation for Economic Cooperation and Development (OECD) as it

London (Parliament Politics Magazine) – The IFS warned Labour faces tough fiscal challenges, noting potential tax increases on capital gains, inheritance, and stamp duty.  The Institute for Fiscal Studies (IFS) stated Labour had promised not to increase income tax, national insurance, VAT

London (Parliament Politics Magzine) – The Bank of England has maintained interest rates intact at 5% as it put its steps to ease the strain on household budgets on hold. The Bank’s monetary policy committee (MPC) voted by a bulk of eight

London (Parliament Politics Magazine) – Sales of some new hybrid cars will be authorised until 2035, the government has stated, but it rejected that this was a change to a manifesto commitment to ban petrol and diesel cars from 2030. Ministers scheme

London (Parliament Politics Magazine) – The Bank of England has relaxed new capital rules pointed to shock-proof the banking system from another 2008-style crash, in a motion the Labour government states will bolster its economic growth plans. The regulator stated it had

London (Parliament Politics Magazine) – WH Smith is to provide investors with a £50m windfall as holidaymakers snapping up travel essentials allowed a boost in summer sales at the retail chain. The retailer stated it would launch a £50m share buyback an

London (Parliament Politics Magazine) – Barratt and Lloyds Banking Group have undertaken a £150m joint venture with the government body Homes England that will conduct to the UK’s largest housebuilder and mortgage provider capitalising on Labour’s objectives to build 1.5m new homes.

London (Parliament Politics Magazine) – The online retail business Amazon has announced a pay upgrade worth about 10% for tens of thousands of UK workers, after beating a bid by the GMB trade union for bargaining rights over pay and conditions. Amazon

London (Parliament Politics Magazine) – Simon Case, the chair of the civil service, has supported the government’s figures indicating that a £22bn shortfall was exited by the previous Conservative administration. The cabinet secretary stated the Tories’ failure to hold regular spending reviews