7 d. ago UBS offers to limit size of investment bank to appease Swiss regulators

Lender seeks to alleviate concerns that its size could pose risk to country’s economy

Economics

7 d. ago Revealed: How much you need to earn to feel wealthy in Britain today

Not so long ago, if you had a six-figure salary or a million pounds in the bank, you'd be laughing. But an investigation by Money Mail finds that in Britain today, £100,000 would barely touch the sides.

Politics

8 d. ago Revealed: Here's EXACTLY how much you need to earn to feel wealthy in Britain today

Not so long ago, if you had a six-figure salary or a million pounds in the bank, you'd be laughing. But an investigation by Money Mail finds that in Britain today, £100,000 would barely touch the sides.

Politics

8 d. ago Globalisation may have run its course in current form, says HSBC chair

Trade tensions in era of Trump tariffs create serious potential risk to global growth, warns Sir Mark TuckerGlobalisation “may have now run its course” in its current form, according to the chair of HSBC, as geopolitical tensions and US tariffs threaten to upend existing global trade.Speaking at the bank’s global investment summit in Hong Kong on Tuesday, Sir Mark Tucker warned that trade tensions created uncertainty that posed a “serious potential risk to global growth”, in remarks reported by the Financial Times. He predicted stronger economic ties would develop between regional groups and trade blocs. Continue reading...

Society

9 d. ago DWP confirms start date for Eligibility Verification and ‘monitoring’ bank accounts to tackle benefit fraud

The Eligibility Verification Measure will not give DWP direct access to bank accounts or enable investigators to see how people on benefits spend their money.

Economics

1 week ago European stocks drop as investors digest central bank warnings

Another muted day of trading for London’s FTSE 100 saw the index dip 4.67 points, or 0.05%, to close at 8,701.99.

Events

1 week ago Next UK interest rate cut may not come until August after hawkish Bank of England hold – as it happened

Monetary Policy Committee votes 8-1 to leave UK interest rates unchanged at 4.5%Bank of England says companies freezing hiring plans as it keeps interest rates on holdIn the property world, Norway’s sovereign wealth fund is buying a quarter of Covent Garden.The Norges Bank Investment Management has entered a partnership with landlord Shaftesbury, and will pay £570m for a 25% stake in the Covent Garden estate.This investment underscores our belief in the strength of London with the portfolio complementing our other high quality West End investments.Covent Garden is one of the world’s most recognised retail, leisure and cultural destinations and we look forward to supporting Shaftesbury Capital’s management team, with their strong track record of delivering the growth potential of this prime West End estate.”“The reforms I have announced will ensure everyone who can work gets the active support they need, including through an extra £1 billion for personalised health, skills and employ...

Politics

1 week ago Next UK interest rate cut may not come until August after hawkish Bank of England hold – business live

Monetary Policy Committee votes 8-1 to leave UK interest rates unchanged at 4.5%Bank of England says companies freezing hiring plans as it keeps interest rates on holdIn the property world, Norway’s sovereign wealth fund is buying a quarter of Covent Garden.The Norges Bank Investment Management has entered a partnership with landlord Shaftesbury, and will pay £570m for a 25% stake in the Covent Garden estate.This investment underscores our belief in the strength of London with the portfolio complementing our other high quality West End investments.Covent Garden is one of the world’s most recognised retail, leisure and cultural destinations and we look forward to supporting Shaftesbury Capital’s management team, with their strong track record of delivering the growth potential of this prime West End estate.”“The reforms I have announced will ensure everyone who can work gets the active support they need, including through an extra £1 billion for personalised health, skills and employ...

Economics

1 week ago Bank of England leaves interest rates on hold despite ‘intensifying’ trade war uncertainty – business live

Monetary Policy Committee votes 8-1 to leave UK interest rates unchanged at 4.5%In the property world, Norway’s sovereign wealth fund is buying a quarter of Covent Garden.The Norges Bank Investment Management has entered a partnership with landlord Shaftesbury, and will pay £570m for a 25% stake in the Covent Garden estate.This investment underscores our belief in the strength of London with the portfolio complementing our other high quality West End investments.Covent Garden is one of the world’s most recognised retail, leisure and cultural destinations and we look forward to supporting Shaftesbury Capital’s management team, with their strong track record of delivering the growth potential of this prime West End estate.”“The reforms I have announced will ensure everyone who can work gets the active support they need, including through an extra £1 billion for personalised health, skills and employment support for sick and disabled people.“We’ve already put in place measures to make ...

Economics

1 week ago Norway’s sovereign wealth fund buys a quarter of London’s Covent Garden

Shaftesbury Capital sells stake in estate, which includes shops, market and transport museum siteBusiness live latest updatesNorway’s sovereign wealth fund, the world’s biggest, has made a fresh bet on the future success of central London as the country’s investment vehicle struck a £570m deal to buy a quarter of the Covent Garden estate.Norges Bank Investment Management (NBIM), which manages $1.8tn (£1.4tn) and invests government money from the oil industry, announced on Thursday that it had bought the 25% stake in the £2.7bn Covent Garden property portfolio of the landlord Shaftesbury Capital. Continue reading...

Economics

1 week ago Bank of England expected to leave interest rates on hold today; global debt exceeds $100tn – business live

Monetary Policy Committee set to announce interest rate decision at noonIn the property world, Norway’s sovereign wealth fund is buying a quarter of Covent Garden.The Norges Bank Investment Management has entered a partnership with landlord Shaftesbury, and will pay £570m for a 25% stake in the Covent Garden estate.This investment underscores our belief in the strength of London with the portfolio complementing our other high quality West End investments.Covent Garden is one of the world’s most recognised retail, leisure and cultural destinations and we look forward to supporting Shaftesbury Capital’s management team, with their strong track record of delivering the growth potential of this prime West End estate.”“The reforms I have announced will ensure everyone who can work gets the active support they need, including through an extra £1 billion for personalised health, skills and employment support for sick and disabled people.“We’ve already put in place measures to make work pay...

Economics

1 week ago Norway’s oil fund strikes £570mn deal to buy quarter of Covent Garden

Norges Bank Investment Management makes fresh bet on fortunes of UK capital’s retail and leisure district

Economics

3 w. ago Uber Eats offers free Ramadan meals to Muslim delivery drivers in London

The Sundown Spots initiative takes place in towns and cities with the largest Muslim populations, offering food at night and early morning to support those fasting

Politics

3 w. ago Staley pushed JP Morgan to keep Epstein as client despite human trafficking concerns, court hears

Former Barclays boss told Jeffrey Epstein suspicious withdrawals from his account were being investigatedThe former bank boss Jes Staley pushed JP Morgan to keep Jeffrey Epstein as a client despite human trafficking concerns and told him suspicious withdrawals from his account were being investigated, a court has heard.The Financial Conduct Authority (FCA) put the allegations to the ex-chief executive of Barclays during his second day of witness testimony at the upper tribunal in London. Continue reading...

Events

3 w. ago Wall Street falls again amid economic slowdown fears, as Musk’s Tesla falls 50% from all–time high – business live

Rolling coverage of the latest economic and financial news, as US markets slide after Beijing imposes tariffs on imports of agricultural goods from AmericaAnalysts at investment bank Jefferies remain optimistic about the prospects for the US economy in the second half of 2025 – while also fearing that it may slow more than expected in the first half of the year.In an updated US Economic Outlook, Jefferies tell clients:Broadly, these changes are modest relative to what we were looking for at the beginning of the year. We started out 2025 expecting growth to slow in the first half due to exactly the sort of tensions and uncertainty about policy that we are currently seeing. It now appears that the slowdown will be a bit more pronounced than we expected, but we remain optimistic about the second half of the year and beyond.We expect that the labor market will continue to cool gradually in the months ahead, with downside risks due to government spending uncertainty. We continue to expec...

Economics

3 w. ago Wall Street falls again as tariff fears grip markets – business live

Rolling coverage of the latest economic and financial news, as US markets slide after Beijing imposes tariffs on imports of agricultural goods from AmericaAnalysts at investment bank Jefferies remain optimistic about the prospects for the US economy in the second half of 2025 – while also fearing that it may slow more than expected in the first half of the year.In an updated US Economic Outlook, Jefferies tell clients:Broadly, these changes are modest relative to what we were looking for at the beginning of the year. We started out 2025 expecting growth to slow in the first half due to exactly the sort of tensions and uncertainty about policy that we are currently seeing. It now appears that the slowdown will be a bit more pronounced than we expected, but we remain optimistic about the second half of the year and beyond.We expect that the labor market will continue to cool gradually in the months ahead, with downside risks due to government spending uncertainty. We continue to expec...

Economics

3 w. ago DWP explains how bank checks will target those on Pension Credit

Investigators will be able to request details of bank statements, the Department for Work and Pensions says

Economics

3 w. ago DWP says these groups 'including schools' target for sweeping anti

Investigators will also be able to request bank account details

Events

3 w. ago Pound rises above $1.29 as Trump fears hit dollar; Poundland chain up for sale – business live

Dollar slides after US president exempts carmakers from 25% tariffs on Canada and Mexico; euro and sterling hit four-month highsThe British Chambers of Commerce (BCC) is predicting “a long and challenging year for UK businesses”. It has become more gloomy about the growth outlook for the UK and said firms will struggle to invest as they deal with a raft of rising cost pressures.This is going to be a long and challenging year for UK businesses. The BCC’s forecast shows an economy struggling without the secure foundations to kickstart business investment.Inflation will continue to be stubborn this year forcing the Bank of England to keep interest rates relatively high. Global uncertainties will add further dark clouds to the economic climate. Continue reading...

Economics

last month Britain's Net Zero drive 'has made families poorer': Experts say decarbonisation bid is to blame for UK's productivity crisis

A new report, by researchers at investment bank Peel Hunt, questioned whether Britain's decarbonisation efforts were to blame for the country's productivity crisis.

Events