Bond markets may force Rachel Reeves to deliver a second budget if investors react negatively to next week’s fiscal plans, a senior City investor has warned, underscoring the fragile backdrop the chancellor faces ahead of 26 November. David Zahn, head of European fixed income at the $1.69 trillion asset manager Franklin Templeton, said the biggest risk to Reeves was that ...
Hewlett Packard has submitted a final claim of almost $1.8 billion (£1.4 billion) against the estate of Mike Lynch, intensifying one of the longest and most expensive corporate fraud battles in UK legal history. The latest claim is substantially lower than the $5 billion HP originally sought over its ill-fated 2011 acquisition of Autonomy, but still far exceeds the late ...
Jet2 chief executive Steve Heapy has urged Chancellor Rachel Reeves to stop using the airline and holiday industry as a “cash cow”, warning that any further increase in aviation taxes will hit lower earners hardest and risk pricing families out of foreign travel. Heapy — who runs Britain’s largest package holiday provider and the UK’s third-biggest airline by passenger numbers ...
Jeff Bezos is returning to a chief executive role for the first time since leaving Amazon in 2021, launching a new artificial intelligence venture called Project Prometheus — a start-up already reported to have secured $6.2 billion in early-stage funding. According to The New York Times, the new company will be co-led by Bezos and Vik Bajaj, a former senior ...
Eight companies are under formal investigation by the UK’s Competition and Markets Authority (CMA) over concerns about online pricing tactics, marking the regulator’s first major enforcement action under its strengthened consumer protection powers. The firms — StubHub, Viagogo, AA Driving School, BSM Driving School, Gold’s Gym, Wayfair, Appliances Direct and Marks Electrical — are being examined as part of a ...
Carbon3.ai, the UK’s leading sovereign AI infrastructure company, has announced a £1 billion investment to build the country’s first nationwide network of fully sovereign, sustainable AI-ready data centres — a move expected to reshape the UK’s digital resilience, national security and long-term competitiveness in artificial intelligence. The ambitious programme will convert legacy industrial and energy sites into a network of ...
Customers of UK banks and building societies will soon benefit from a major increase to the amount of money protected if their bank fails, after regulators confirmed that the Financial Services Compensation Scheme (FSCS) deposit limit will rise from £85,000 to £120,000. The change, announced by the Prudential Regulation Authority (PRA), marks the largest uplift since 2017 and reflects updated ...
The UK’s corporate register is expected to shrink significantly over the next year as new identity verification rules for company directors and beneficial owners come into force on Tuesday, according to specialists in corporate transparency and financial crime. From 18 November, all new directors and persons with significant control (PSCs) must verify their identity with Companies House before they can ...
If you live in an older home, chances are you’ve heard of a back boiler. These were popular heating systems installed behind fireplaces. They provided hot water and heating by burning gas or solid fuel. But today, back boilers are outdated, inefficient, and even unsafe. So, if you still have one, you might be thinking about replacing it. But how ...
Stepping away from a successful career in technology to pursue a long-held creative ambition is no small leap, yet that is precisely what Sarah Haran did. Today, she heads the British luxury accessories brand that bears her name, celebrated for workmanship, colour and a modular design concept that gives customers “one bag, endless looks”. From her studio to the atelier ...