BoE Gilt Reforms Criticized for Concentrating Market Risks
Bond traders and hedge funds warn that Bank of England plans to overhaul gilt repo market regulation could worsen financial stability by concentrating risks during market stress.
Category : City Finance
Tax Instability Pushes UK's Wealthy to Consider Moving Overseas
Research reveals two-thirds of Britain's wealthiest individuals are contemplating leaving due to constant tax policy changes, with uncertainty cited as a greater burden than tax rates themselves.
Torsten Bell Under Fire for Pension Investment Control Powers
London's pension industry is in uproar over government proposals to maintain 'backstop power' over pension fund investments in UK assets, with critics calling the move 'ridiculous' and dangerous.
UK Banks Criticize Regulations for 'Penalizing' Risk Management
Major UK lenders have criticized banking regulations in a new report, arguing that current rules penalize good risk management and hinder economic growth by forcing excessive capital hoarding.
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Oxfam: Super-Rich May Hide $3.55 Trillion from Tax
Oxfam reports that the global super-rich could have up to $3.55 trillion hidden offshore, evading taxes. The charity calls for wealth levies and closing loopholes, marking 10 years since the Panama Papers.
HMRC Urges Parents to Claim Tax-Free Childcare This Easter
Working families can save up to £2,000 annually per child, or £4,000 for disabled children, through the tax-free childcare scheme this Easter break.
Washington State Introduces Millionaire Tax to Tackle Wealth Gap
Washington State has enacted a new tax targeting millionaires, aiming to generate revenue for public services and reduce economic disparities. The policy marks a significant shift in state fiscal strategy.
London Prepares for April Bill Increases Amid Cost of Living Crisis
Households across London face significant bill hikes in April, with energy, water, and council tax rising, adding pressure to budgets already strained by inflation.
FSCS Ready for Financial Crisis as Bankers Sound Alarm
The Financial Services Compensation Scheme declares preparedness for potential economic turmoil as top bankers warn of crisis echoes. The safety-net body launches new strategy to protect UK savers.
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NS&I Loses £476M in Premium Bonds, CEO Forced to Resign
NS&I owes £476 million to bereaved families in lost Premium Bonds funds, leading to CEO resignation and compensation plans for 37,500 affected customers.
NS&I Scandal: £500m Owed to Bereaved Families
National Savings & Investments faces a major crisis as it admits owing nearly £500m to bereaved families due to administrative failures, with the CEO replaced amid the scandal.
NS&I Boss Quits Over £470 Million Missing Savings Crisis
Dax Harkins has resigned as National Savings and Investments faces a record payout over historical errors affecting 37,500 customers with up to £476 million in misplaced deposits.
NS&I's £400 Million Savings Scandal Payout
National Savings and Investments is set to pay up to £400 million to customers following a major missing savings scandal, with failures affecting bereaved families and prompting a parliamentary inquiry.
NS&I Bereavement Scandal Could Cost Hundreds of Millions
National Savings and Investments is confronting a compensation crisis potentially worth hundreds of millions of pounds following allegations of mismanaging deceased customers' funds, with thousands of bereaved families affected.
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Surviving Economic Anxiety: Expert Advice for Turbulent Times
As global crises mount from war to interest rate fears, experts and individuals alike grapple with whether to act or wait. This analysis explores historical parallels and personal strategies for navigating uncertainty.
Taxpayers Face £400m Bill Over NS&I Bereavement Scandal
National Savings and Investments may require a government bailout worth hundreds of millions to compensate bereaved families for alleged management failures dating back years.
Four Ways to Help HENRYs: High Earners Not Rich Yet
High Earners Not Rich Yet (HENRYs) face tax, housing, childcare, and retirement pressures. Louis Coke proposes policy changes to help them prosper and stay motivated in the UK economy.
Bank of England Rejects Firms' Fine Reduction Appeals
Two financial firms requested reductions in fines from the Bank of England, but the central bank denied their appeals, upholding the penalties.
NS&I Under Fire for Bereavement Savings Mishandling
National Savings and Investments faces mounting criticism for poor customer service to bereaved families, with complaints doubling and families forced to hire lawyers to access funds.
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UK Payment System: The Hidden Complexity Behind Every Transaction
The UK's payment ecosystem, including the Faster Payments System, faces challenges in innovation, fraud prevention, and maintaining global leadership while delivering seamless consumer experiences.
Inheritance Tax Cuts Endanger UK Family Businesses
Changes to inheritance tax relief on agricultural and business assets from April 2026 could force family firms to sell or relocate, undermining entrepreneurship and economic growth in the UK.
HMRC Rejects Half of Digital Tax Exemption Requests
New data reveals HMRC has turned down 47% of applications for exemption from Making Tax Digital for Income Tax, raising concerns about digital exclusion as the deadline approaches.
NAO: Government's Financial Control Framework Needs Improvement
The National Audit Office finds the Treasury's Financial Transaction Control Framework shows progress but requires clearer guidance and better risk assessment for £203bn portfolio.
JP Morgan Chase Gets Tax Break for Canary Wharf HQ Plan
Tower Hamlets Council plans a business rates discount to incentivize JP Morgan Chase's new £3 billion headquarters in Canary Wharf, aiming to boost employment and community investment.
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Bank of London Hit with £2m Fine for Misleading Watchdog
The Bank of London has been fined £2 million by the Prudential Regulation Authority for misleading the regulator and failing to act with integrity, marking a first in enforcement actions.
Bank of England to Analyze Outdated Inflation Data
The Bank of England faces a challenge as upcoming inflation data fails to reflect recent geopolitical shocks, with economists predicting steady figures despite rising fuel prices and market volatility.
JP Morgan Chase Tax Break for Canary Wharf HQ
Tower Hamlets Council considers offering business rates discount to JP Morgan Chase as incentive for £3bn headquarters development that promises 12,000 jobs and community investments.
FCA Conduct Breach Reports Jump 10% Before New Rules
Reports of conduct breaches to the Financial Conduct Authority increased to 4,224 in 2024 as new rules targeting non-financial misconduct and harassment prepare to take effect in September.
Wildlife to Replace Politicians on UK Banknotes: Expert Nominations
The Bank of England announces native wildlife will feature on new £5, £10, £20 and £50 notes. Experts nominate red fox, common toad, beaver, and swift as candidates.
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Sergey Brin Invests $45M to Block California Billionaire Tax
Google co-founder Sergey Brin has donated $25 million to a Super Pac opposing California's proposed 5% wealth tax, bringing his total contributions to $45 million. The tax targets billionaires to fund education and healthcare programs.
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