Category: News

Starling Bank has been fined £29m by the FCA for failing to maintain adequate controls against financial crime, leaving the system vulnerable to criminals and sanctioned individuals.

UK-focused equity funds experience £666 million in withdrawals in September, reversing a recent revival as Labour’s gloomy economic outlook causes investor confidence to wane.

Bank of England Governor Andrew Bailey suggests that the Bank may lower interest rates more aggressively if inflation continues to fall, but warns of potential oil price spikes amid Middle East tensions.

A third of homes on the market are chain-free as landlords and second-homeowners sell amid concerns over potential capital gains tax changes in the upcoming Budget, Zoopla reports.

Sainsbury’s warns that unclear tax proposals from the Chancellor are dampening consumer confidence, with shoppers holding off on big-ticket purchases. The supermarket urges clarity ahead of the Budget.

Tesco is reducing prices as inflation eases, reinforcing its position as the UK’s largest supermarket. With profits rising and market share growing, Tesco expects a strong performance through the festive season.

Tetley tea’s owner, Tata Consumer Products, has launched legal action against striking workers, accusing them of trespassing during a pay dispute. GMB Union warns of potential tea shortages amid the ongoing industrial action.

An official report reveals that most businesses benefiting from £23bn in Covid grants could have survived without the aid, raising concerns over government spending. The report highlights inefficiencies in the allocation of funds and potential lessons for future crisis management.

The Bank of England warns that the UK is at risk of a credit crunch, citing global market vulnerabilities and geopolitical tensions. While interest rates have begun to fall, markets remain volatile, with concerns over rising borrowing costs and substantial hedge fund bets against US Treasuries.

UK government considers introducing flexible probation periods for workers returning from long-term sickness to encourage businesses to hire them without legal risk. Unions push back against the proposal, calling for universal day-one rights.

Greggs rules out further price rises in 2023 despite a sales slowdown in the third quarter. CEO Roisin Currie remains optimistic, with plans for expansion and new autumn menu offerings.

UK retailers slash prices as wet weather dampens consumer spending in September, pushing shop prices into their sharpest decline in three years. Food inflation edges higher despite falling non-food prices.

Mulberry rejects an £83 million takeover bid from Mike Ashley’s Frasers Group, citing confidence in its future under new leadership. Frasers has until 28 October to make a firm offer or withdraw.

Frasers Group offers £83m for luxury brand Mulberry after a surprise rights issue. The proposed takeover could see Mike Ashley’s group expand further into the luxury sector. Learn more.