UK’s Best Bank Revealed – and It’s Not a Bank
Forbes and Statista’s 2025 global banking survey crowned Nationwide as the United Kingdom’s top‑ranked bank, even though it is technically a building society. The study surveyed 54,000 respondents across 34 countries, weighting trust, terms, service, digital capability and advice. Nationwide’s recent £2.9 billion (≈$3.6 billion) acquisition of Virgin Money and its member‑owned model helped it outpace the traditional high‑street banks. Digital‑only players such as First Direct, Monzo, Starling and Revolut filled the rest of the top ten, while the big four were absent.
Close Brothers Set for £320m Motor Finance Hit as It Eyes Legal Rows
Close Brothers announced a £320 million (≈$406 million) provision for the FCA’s motor‑finance redress scheme, matching its earlier estimate. The charge will shave 25 basis points off its CET1 capital ratio, leaving it at 14%, still above the 12‑13% target. Analysts warn...
Bill Ackman’s Pershing Square Launches Bid for Universal Music Group
Bill Ackman's Pershing Square has launched a $63.5 billion takeover bid for Universal Music Group, proposing a merger that would create a new US‑listed entity and replace UMG’s Amsterdam listing. Shareholders would receive $5.05 in cash plus 0.77 shares of the...
Virgin Money Swallowed up by Nationwide as Top Boss Exits
Nationwide completed its £2.9bn ($3.6bn) acquisition of Virgin Money, creating the UK’s second‑largest retail bank behind Lloyds. The deal netted Nationwide about £2.3bn ($2.9bn) in synergies and gave Sir Richard Branson a £724m ($905m) windfall. Virgin Money CEO Chris Rhodes,...
London’s Top 2025 Listings Tumble in Blow to IPO Revival Hopes
London’s five largest 2025 IPOs have collectively lost about 26% of their value in Q1 2026, leaving all but one trading below their issue price. The FTSE 250 index fell 5.4% while the FTSE 100 rose over 2% in the...
‘A Whole Civilisation Will Die Tonight’: Trump Ramps up Iran Threats as Deadline Draws Nearer
Donald Trump escalated rhetoric against Iran, posting a bombastic Truth Social message that a "whole civilisation will die tonight" and setting an 8 p.m. Eastern deadline for possible strikes. The warning sent European markets into early‑day volatility, with the FTSE 100,...
Trump Turmoil in Asia Sends Chills Through Seoul While China Keeps Its Cool
The Middle East war has amplified volatility across Asian equity markets, with Japan's Nikkei and India's Sensex each plunging around 13% in March, while South Korea's Kospi fell 13% since February before rebounding 8% in April. Trump’s unpredictable statements added...
Motor Finance Compensation to ‘to Fire Starting Gun’ on Banking M&A
The UK Financial Conduct Authority unveiled final rules for its motor‑finance redress scheme, setting the compensation bill at just over £9 billion (approximately $11.5 billion), down from earlier £11 billion estimates. Lloyds Banking Group alone faces a £2 billion ($2.5 billion) liability, while Close Brothers...
FTSE 100 Live: Stocks Inch up; Fuel Shortage Fears Hit Airlines; Unilever Nears Food Deal
Oil prices surged in March, with Brent crude climbing over 51% since February and staying above $110 a barrel, marking the largest monthly gain on record. The spike follows the outbreak of war in Iran and heightened threats to the...
Why High Oil Prices Could Plunge World Into Recession by the Summer
Economists warn that a sustained oil price of $150 per barrel, driven by escalating US‑Israel‑Iran tensions, could push the global economy into a rare mid‑year recession. Brent crude already breached $116, reflecting heightened war risk and supply concerns. Oxford Economics...
Rolls-Royce: FTSE 100 Giant’s Shares Tumble Amid Market Storm
Rolls‑Royce shares plunged nearly 3% on Friday, hitting a 2026 low of 1,116.77 pence as the market reacted to renewed Middle‑East conflict. The decline came amid a broader FTSE 100 slide of 0.7% and rising Brent crude above $110 per barrel, which...
THG Shares Soar as It Swings Back to Profit in ‘Coming of Age Moment’
THG plc announced a return to profitability for 2025, reporting after‑tax profit of $68.7 million versus a $414 million loss the prior year. The turnaround was driven by a $131 million cash inflow from the sale of its ingredients unit Claremont and a...
Revolut and Nationwide Sharpen Swords in Battle to Bank Britain
Revolut has secured a full UK banking licence, positioning itself to directly challenge incumbent banks such as Lloyds. Nationwide, after acquiring Virgin Money, is gaining momentum, adding over 40,000 new customers in Q3 2025, while Lloyds continues to shed users,...
RAC Could Jump-Start London’s IPO Engine with Bumper £5bn Float
Roadside assistance provider RAC is preparing a potential £5 billion ($6.4 billion) flotation on the London Stock Exchange, marking the largest UK IPO in years. Private‑equity owners CVC Capital Partners and Silver Lake are reportedly lining up to sell their stakes, which...
Revolut Eyes Trading and Wealth Push Amid Hiring Spree
Revolut has announced a major push into wealth and trading after securing a full UK banking licence, launching a dedicated division and a global hiring spree. The fintech is recruiting product owners and risk managers to build margin‑trading capabilities, a...
FTSE 100 Live: Stocks Jittery After Trump’s Latest TACO; Oil Price Slips
President Donald Trump issued a 48‑hour ultimatum demanding the full reopening of the Strait of Hormuz, prompting sharp swings in the FTSE 100 and a dip in oil prices below $100. After Trump announced that “productive” talks had delayed his threat,...
Borrowing Costs Soar to Post-Financial Crisis High in Blow to Reeves
UK government borrowing costs have surged, with the ten‑year gilt yield topping 4.9%, the highest level since the 2008 financial crisis. The rise inflates debt‑service obligations, pushing projected interest payments toward £110 billion this year and eroding the fiscal headroom Labour...
FTSE 100 Live: Gilt Yields Soar, Bank of England Rate Hike Fears Grow, Wetherspoon Shares Tumble
UK gilt yields surged to just under 5%, the highest level since 2008, as markets price in expectations of Bank of England rate hikes. Unilever entered talks to sell its foods business to McCormick, while discount retailer The Works saw...
London IPO Market May yet Recover in 2026, Peel Hunt Says
London’s IPO market, which ended a two‑year drought with a late‑2025 surge, may see a revival in 2026 according to Peel Hunt. The broker cites the strongest pipeline in years, heavily weighted toward the second half of the year. Geopolitical...
Nigel Farage Bitcoin Firm Turns to the Public to Raise Cash – at Double the Price
Former Chancellor Kwasi Kwarteng’s Bitcoin firm Stack BTC has opened a retail share offering to raise up to £250,000, pricing new shares at 10p each—double the price Nigel Farage paid a week earlier. Farage invested £215,000 for a 6.3% stake...
‘More Needs to Be Done’ to Help Pension Savers After Salary Sacrifice, Says Standard Life Boss
Standard Life chief executive Andy Briggs warned that the UK government’s new £2,000 salary‑sacrifice cap, effective from April 2029, could further depress already low retirement savings. Only one in seven workers are on track for a decent pension, prompting Briggs...
Revolut to IPO Above $100bn, Says Former Licence Boss
Revolut’s former head of international licences, Will Mahon‑Heap, told City AM the fintech could launch an IPO valued well above $100 bn, even hinting at a $200 bn price tag. The company recently secured a full UK banking licence, bolstering its credibility as...
FTSE 100 Live: Stocks Fall as Oil Rocks Markets; Reeves Struck by Flat Economy
The FTSE 100 fell as oil prices surged past $100 per barrel, driven by heightened tensions in the Strait of Hormuz after Iran’s new supreme leader vowed to keep the waterway blocked. UK economic data showed flat growth in January,...
Shawbrook Shares Dive After Profit Jump on Bullish AI Plans
Shawbrook Bank posted a pre‑tax profit of £340.5 million, up from £293.8 million, as its loan book expanded 20% to just under £20 billion and deposits rose 16% to £18.4 billion. The bank’s AI‑driven cost‑cutting pushed its cost‑to‑income ratio to 39%, down from 40.8%,...
Closed Shop? Not for Long: How New Laws Are Opening Doors for Trade Unions
The Employment Rights Act, introduced last month, revamps UK workers' rights and lowers the union recognition threshold from 10% to as low as 2% of employees, with workplace access rights slated for October. The changes have already spurred a surge...
Capita Shares Tumble as Boss Warns of Declining Margins
Capita, one of the UK’s largest outsourcing firms, warned of a small decrease in operating margin and posted a pre‑tax loss of £171 million for 2025. The loss includes a £74 million impairment to its call‑centre business as demand shifts to AI...
Rolls-Royce Shares Slide as FTSE 100 Plunges Amid Iran War
Rolls‑Royce shares slumped up to five per cent at the open, later stabilising at a three‑per‑cent loss, as the Iran‑Israel conflict sparked broader market anxiety. The FTSE 100 fell about 1.5 per cent, driven by concerns over disrupted air routes over Azerbaijan...
Government Borrowing Costs Mount on Fears of Inflation Spike
Government gilt yields spiked on Monday as oil prices surged nearly 30%, reigniting fears of higher inflation and prolonged interest‑rate hikes. The 10‑year gilt rose 14 basis points, while the two‑year jumped over 23 basis points, reflecting market expectations that...
FTSE 100 Live: Inflation Falls to Near Year-Low; BAE Leads Stock Rally
UK inflation eased to a near‑year low, with the CPI falling to 3% year‑on‑year in January 2026, down from 3.4% in December. The slowdown, driven by lower petrol, airfares and food prices, has revived expectations that the Bank of England...
FTSE 100 Live: Heathrow Traffic Record; Homebuilders Call for Help
UK’s FTSE 100 slipped 0.3% after a string of negative corporate news. Energy giant BP announced a suspension of its share buyback programme and heightened cost‑cutting targets to fund oil production, while Standard Chartered saw its finance chief Diego De Giorgi...
Downing Street Resignations Trigger Bond Market Jitters
UK bond markets reacted sharply on Monday after a series of high‑profile Downing Street resignations, with the 10‑year gilt yield climbing to 4.62% – a ten‑basis‑point surge that set a three‑month high. The departures, including communications chief Tim Allan and...
Watchdog Warns on ‘Fire Sale Dynamics’ Risk in Repo Market
The Financial Stability Board warned that leveraged trades in the short‑term repo market could spark fire‑sale dynamics, pressuring sovereign bond prices. It highlighted a $16 trillion global repo market, with hedge‑fund borrowing near $3 trillion—about 25% of their assets—often conducted with zero...
Bank of England Should Hold Interest Rates, City AM Shadow MPC Says
City AM’s Shadow Monetary Policy Committee, comprising nine independent economists, voted 7‑2 to keep the Bank of England’s base rate at 3.75%, citing persistent inflation and mixed business‑survey signals. Inflation for the year to December remains at 3.4%, above the...
Profit Warnings Citing Global Upheaval Hit ‘Record High’
EY’s latest analysis shows 240 UK‑listed firms issued profit warnings last year, the lowest total since 2021 but the highest proportion citing policy and geopolitical uncertainty. About 42 percent of those warnings named regulatory flip‑flops, tariffs and wage hikes as profit‑dragging...