Barclays mortgage subsidiary makes £5bn balance sheet whoopsie May 12, 2026 Don’t you just hate it when you mix up millions with billions? No one is immune from such mistakes. Including, as it turns out, one of Britain’s biggest banks. A subsidiary of Barclays, the Kensington Mortgage Company, last week published its accounts. While revenue was up slightly to £83.4m, pre-tax profit fell by 90 per [...]
Directors of collapsed Carillion banned by accounting watchdog May 12, 2026 A pair of Carillion finance directors in post shortly before its collapse have been fined and banned by the accounting industry watchdog, bringing the curtain down on eight years of regulatory probes into one of the most notorious corporate failures in British history. Richard Adam – who served as the now-extinct contracting company’s finance director [...]
Norwegian billionaire forced back to London in £285m Deutsche Bank dispute May 12, 2026 Norwegian billionaire Alexander Vik has been ordered to return to the City to be interrogated about his hidden assets during a 13-year-long legal dispute with Deutsche Bank. The bank first sued the business mogul’s company, Sebastian Holdings, in 2009 after the company suffered a series of losses on foreign exchange and equities trade deals during [...]
Going for growth? Labour groups set out competing visions for economic strategy May 12, 2026 Competing groups of Labour MPs have published contrasting growth plans on Tuesday, just as Sir Keir Starmer’s leadership stood on the brink. Both the left-wing Tribune group of MPs and the more centrist Labour Growth Group published pamphlets setting out a number of ideas for growth and tax reform. Tribune’s report, led by former transport [...]
London Broncos get fresh investment and eye consortium expansion May 12, 2026 London Broncos have secured fresh investment into the rugby league side as their Australian owners plan further consortium members. Brisbane-based property mogul Andrew Gray has joined the club’s ownership as part of the 90 per cent held by a group of Australian investors fronted by former NRL legend Darren Lockyer. The fresh injection comes as [...]
Life after Starmer: What could a new Labour prime minister mean for your money? May 12, 2026 It could soon be time to face the music for Keir Starmer after dozens of MPs called for the Prime Minister to throw in the towel, which could unleash months of speculation and uncertainty. Leading frontrunners for the top job include the Manchester mayor Andy Burnham, former deputy PM Angela Rayner and health secretary Wes [...]
‘Bond market meltdown’: UK borrowing costs highest since 1998 as Starmer fights for survival May 12, 2026 Warnings of a “bond market meltdown” flashed through the City on Tuesday after government borrowing costs soared as pressure mounted on Sir Keir Starmer’s future in Downing Street. For weeks, City investors have been on high alert as fears mounted that a mass rebellion would be triggered after devastating local election results. Traders fear the [...]
Mike Ashley wins trademark appeal, throwing out eye-watering damages bill May 12, 2026 The retail empire of business tycoon Mike Ashley has won an appeal challenging damages awarded in a trademark infringement claim, sidestepping paying a potentially stinging bill. The judgment follows a longstanding legal dispute between the discount sports retailer and the Beverly Hills Polo Club brand, owned and managed by Lifestyle Equities, which argued Ashley’s Sports [...]
Used EV sales soar as drivers look to curb fuel costs May 12, 2026 Second-hand electric car sales have hit record highs in the first three months of the year, as improving consumer confidence and rising fuel prices pushed more buyers toward used EVs. According to new figures from the Society of Motor Manuacturers and Traders (SMMT), just shy of 87,000 used battery EVs changed hands during that period [...]
Heathrow, Gatwick revolt over Labour flight cancellation plans May 12, 2026 Heathrow and Gatwick have urged the government to climb down from plans to allow airlines to scrap flights without notice – a move which could endanger the summer holidays of millions of Brits. The leading airports reportedly wrote to the government to oppose mooted plans to unwind “use it or lose it” rules to allow [...]