Barclays and Lloyds have joined the FCA’s second AI live testing cohort alongside Experian, GoCardless and UBS, as UK banks accelerate their artificial intelligence investment. Read more: Barclays and Lloyds join FCA’s second AI sandbox as banks race to prove their tech credentials
Read Full Story →
Founders and advisers warn the latest hike in Business Asset Disposal Relief to 18% is squeezing entrepreneurs and pushing Britain’s homegrown talent abroad. Read more: BADR hike branded a ‘tax-grabbing assault’ as Britain’s founders eye the exit
Read Full Story →
Finance ministers, central bankers and Barclays’ chief executive warn that Anthropic’s new Mythos AI model could expose critical vulnerabilities in the world’s financial systems. Read more: Finance chiefs sound alarm over Anthropic’s ‘mythos’ AI model amid cyber-security fears
Read Full Story →
Britain’s biggest housebuilder Barratt Redrow is cutting land purchases by up to £200m as the Iran conflict fuels mortgage rate fears, yet Q3 sales rose 6% and the order book swelled to £3.54bn. Read more: Barratt Redrow pulls back on land buying as Iran war rattles housing market
Read Full Story →
The Bank of England warns the Iran war could trigger a financial crisis, with rising mortgage costs, inflation and market volatility hitting UK households. Read more: Bank of England warns Iran war could trigger financial crisis risks
Read Full Story →
The FCA has reduced the car finance compensation bill to £7.5bn, while increasing average payouts, as lenders and consumers weigh potential legal challenges. Read more: Car finance redress bill cut by £2bn as VCA unveils final compensation scheme
Read Full Story →
Sir Jim Ratcliffe’s Ineos reports $593m loss and skips dividend as energy volatility and Middle East tensions drive up costs and risks. Read more: Ineos losses widen to $593m as Ratcliffe halts dividend amid energy turmoil
Read Full Story →
Ford’s FCE Bank has set aside £155m for car finance mis-selling claims as the FCA prepares to unveil rules for a multibillion-pound compensation scheme. Read more: Ford’s FCE Bank sets aside £155m ahead of car finance compensation ruling
Read Full Story →
UK businesses are more financially vulnerable than before the Ukraine war, with rising energy costs and interest rates increasing corporate distress. Read more: UK firms enter new energy crisis weaker than in 2022, distress index warns
Read Full Story →
Octopus Investments plans to cut around 20% of staff as it accelerates AI adoption, highlighting growing disruption across the asset management sector. Read more: Octopus Investments to cut 20% of staff as AI reshapes asset management
Read Full Story →