Mortgage lenders have entered a pre-Christmas “rate war” as expectations grow that the Bank of England will cut the Bank Rate next week. NatWest, Barclays, Santander and Nationwide are among more than 20 lenders to reduce rates, with new two-year fixes now as low as 3.51–3.70%. Analysts say lender re-pricing has pushed average fixed rates…

Black Friday shopping was lacklustre this year as consumers restrained spending due to concerns that the Budget could deliver tax hikes, according to the British Retail Consortium (BRC) and KPMG. Retail sales rose by 1.4% in November, down from 1.6% in October and below the 12-month average of 2.5%. Helen Dickinson, head of the BRC,…

Pub leaders have accused Chancellor Rachel Reeves of misleading the industry regarding business rates reform. In a letter signed by over 80 executives, they claimed the sector faces an additional £160m tax burden, contradicting promises of relief. The British Beer and Pub Association says community pubs could see a 63% increase in their business rates,…

Azets’ chief executive, Peter Gallanagh, has mandated that accountants enhance their interpersonal skills by working in pubs. The firm plans to collaborate with hospitality chains to offer work-experience placements for trainees. Gallanagh stated: “If we can teach them to manage people as well as they manage numbers, we’ll be on to a winner.”

UK services growth slowed in November, with the S&P Global UK services PMI survey scoring 51.3, down from 52.3 in October. Tim Moore, economics director at S&P Global, noted that demand conditions weakened in both domestic and export markets. Firms cited subdued business and consumer confidence as reasons for delays in investment decisions and a…

The Bank of England’s Financial Stability Report (FSR) reveals that cyber-attacks are now viewed as a top risk to the UK’s financial system. Andrew Bailey, the Bank’s Governor, said: “If you look at the league table of risks post the financial crisis and asked the question, what risk has come up the league table most…