IMF sounds alarm on soaring sovereign debt October 15, 2025 The International Monetary Fund (IMF) has urged governments to bear down on profligate spending after it found government debt was on course to reach 100 per cent of global GDP within the next five years. In its latest Fiscal Monitor report, the world’s preeminent financial institution sounded the alarm on developed and developing nations’ over-reliance [...]
Starmer attempts to defuse China spy fiasco as tempers flare October 15, 2025 Keir Starmer is looking to defuse a fiasco surrounding the collapse of an alleged Chinese spy case in parliament in the face of ongoing questions over whether national security advisers discussed the details of the case in private meetings. Starmer told MPs at Prime Minister’s Questions on Wednesday that the government would release witness statements [...]
Industry figures urge Reeves to go further with cash ISA reforms October 15, 2025 Financial industry figures have urged Rachel Reeves to go further on reforming the cash ISA, following speculation the Chancellor is looking to overhaul the system in the looming Autumn Budget. Reeves is understood to be reviving a plan to cut the tax-free limit on cash ISAs, in a bid to get people to move cash [...]
Six Nations investors CVC Capital Partners in debt plan talks with Ares, reports October 15, 2025 CVC Capital Partners’ recently formed £9bn sport fund juggernaut is in talks with Ares Management about a mega debt deal. The Global Sport Group – which includes investments such as LaLiga, Premiership Rugby and the Six Nations – is reportedly in talks with a number of firms including US-based Ares Management over a multi-billion dollar [...]
Gen Z dream of early retirement while ignoring alarm bells October 15, 2025 Young Brits are eyeing an early retirement, due to a growing belief that investing the minimum will be enough to fund their dream later life, ignoring warnings their savings are falling short. According to Standard Life, on average Gen Z hold ambitious aspirations to retire at 60, earlier than any other generation and years before [...]
Credit Suisse’s legal bid to recover Greensill losses from Softbank fails October 15, 2025 Swiss lender Credit Suisse has failed in its attempt to recover $440m from Softbank following the collapse of financial firm Greensill Capital. Credit Suisse – now UBS – was hit hardest by Greensill’s collapse, owing to its significant exposure through various funding and investment vehicles. Greensill Capital, founded by Alexander (Lex) Greensill, went under in [...]
Lords grill FCA on ‘deep lack of clarity’ in motor finance redress October 15, 2025 A committee of lawmakers has blasted the Financial Conduct Authority over the “deep lack of clarity” it provided over its motor finance redress scheme. Lord Forsyth, the chair of the House of Lords Financial Services Regulation committee, said at an evidence session the City watchdog had “made it considerably more complicated and costly” in its [...]
UK banks tax rate rises as fears of a budget raid spike October 15, 2025 The tax rate on the UK banking sector rose in the last financial year as the industry braces for a potential hike to its financial burden in the Autumn Budget. A fresh study from banking industry body UK Finance and PwC revealed London lender’s total tax rate rose 0.6 per cent to 46.4 per cent [...]
Andy Haldane elected president of British Chambers of Commerce October 15, 2025 Andy Haldane has been elected the new president of the British Chambers of Commerce (BCC), succeeding the serial entrepreneur and business doyenne Baroness Lane Fox. The central banking veteran, who spent eight years on the Bank of England’s Monetary Policy Committee, was chosen to head up the business lobby group by representatives of its chamber [...]
Macquarie ups stake to become majority owner of London City Airport October 15, 2025 An asset management giant has become the majority owner of London City Airport after buying out some of its fellow shareholders. Macquarie Asset Management has increased its stake in the transport airport to 75 per cent after acquiring a further 50 per cent equity stake from Alberta Investment Management Corporation and OMERS. The move comes after Macquarie [...]