S&U, a London-listed bank, has criticised Rachel Reeves’ recent Budget, describing it as “chaotic and monumentally mishandled.” S&U said the policies set out by the Chancellor had triggered a “dampening effect on consumer confidence.” With the Office for Budget Responsibility having cut growth forecasts every year from 2026 to the end of the Parliament after…

HSBC is negotiating a settlement of around $300m with French authorities regarding its involvement in a tax fraud scandal. This scandal, which has reportedly cost France €4.5bn in tax revenues, has implicated several banks. Crédit Agricole recently settled a similar investigation for €88.2m.

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.”