Post SVB reforms to UK banking regulation leaves sector divided April 19, 2023 Figures in the banking sector are divided over suggested reform to deposit protection, with regulators reported to be mulling raising the deposit insurance threshold in the wake of the collapse of Silicon Valley Bank (SVB) last month. According to a report from the Financial Times, regulators are considering updating the Financial Services Compensation Scheme (FSCS) [...]
Spring Budget 2024: Hunt to spend £5bn freezing fuel duty in tax break for motorists March 5, 2024 Jeremy Hunt is poised to spend £5bn on freezing fuel duty as part of Wednesday's Spring Budget, providing a major tax break for UK motorists.
“Older and poorer” – the UK’s future? September 19, 2024 The Health Secretary, Wes Streeting, said last week that the UK risks becoming “a country with an NHS attached.” Coming from a Labour MP this constitutes admirable candour. The problem is, we’re long past that point already. The NHS is by far the biggest employer in the country (over two million people) with a budget [...]
Zurich sets out more ambitious financial goals after posting highest profits since 2008 November 16, 2022 Zurich Insurance today vowed to “build a clear leadership position in the insurance industry” in pledging to pursue more ambitious financial targets over the next three years. The Swiss insurer said it is now aiming to grow its annual earnings per share at a rate of eight per cent each year over the period 2023-25. [...]
Chancellor Jeremy Hunt: Conservatives will cut taxes again in autumn ‘if we can’ April 17, 2024 Speaking to the Financial Times, the Chancellor said further tax cuts were on the table for an autumn fiscal event, but stressed it would depend on "responsible management of the economy".
Lloyd’s of London’s war underwriters prepare to pay out over ships stuck in Ukrainian waters March 28, 2023 Lloyd’s of London’s war underwriters have begun setting aside cash reserves as they prepare to pay out on a flurry of claims from the owners of ships stuck in Ukraine’s territorial waters. The insurance market is readying itself for a new wave of claims from shipowners that have now become viable following the anniversary of [...]
Bonds & Ballots: Can a British ISA save London’s stock market? May 9, 2024 In this week's Bonds & Ballots, City A.M. asks: did Jeremy Hunt do enough for UK financial services? And will a British ISA really boost London's markets?
Ford set to beat Smith to England 10 shirt against Italy in Six Nations January 31, 2024 George Ford is set to partner Danny Care for England on Saturday in Steve Borthwick’s side’s Six Nations opener against Italy. The England head coach has backed experience after a number of injuries and absentees somewhat forced Borthwick’s hand. The side who finished third in last year’s Rugby World Cup are without fly-half Marcus Smith [...]
Financial Conduct Authority to crack down on insurers’ loyalty penalty September 22, 2020 Loyal customers should not pay more for home or motor insurance than new clients, the Financial Conduct Authority has said, as it promises reforms in the sector. The FCA said the changes could save consumers up to £3.7bn over the next 10 years. The new rules would apply to any customer buying or renewing a [...]
‘Side hustle tax’ to see online platforms like Ebay, Airbnb and Amazon share seller details with HMRC January 2, 2024 This will allow tax authorities to detect and tackle tax evasion, while also levelling the playing field with how traditional businesses are treated for tax purposes, according to HMRC.