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Sky News
Metro Bank fined £16m for poor money laundering controls
Struggling Metro Bank has been fined £16m for poor money laundering controls.The Financial Conduct Authority (FCA) said the challenger bank failed to have the right systems and controls to adequately monitor more than 60 million transactions, with a value of over £51bn, for money laundering risks. The regulator identified failings between June 2016 and December …
Business
Sky News
Shell wins appeal in landmark emissions case
Shell has won its appeal against a climate court ruling that it must sharply reduce its carbon emissions.The oil and gas producer went to the Court of Appeal in the Netherlands following a decision in support of environmental campaign groups in the country, including Friends Of The Earth. That ruling, in 2021, ordered Shell to …
Business
Sky News
Ministers face succession headache at financial watchdogs
Ministers are facing the prospect of kicking off searches for new bosses for the City and banking watchdogs within months amid plans for a wider shake-up of Britain’s economic regulators.Sky News can reveal that the Treasury is likely to begin a process to recruit the next chief executive of the Financial Conduct Authority (FCA) in …
Business
Business Live
Plaid Cymru call on Welsh Government to increase business rate support
Plaid Cymru is calling on the Welsh Government to restore higher business rate reliefs in its draft budget next month to support struggling small businesses. The party said that the 75% business rate relief level should be reinstated having been reduced to 40% in May. It calculates that the reinstatement to support small business would …
Business
Business Live
Challenger stock market Aquis Exchange agrees to £194m takeover by Swiss SIX Group
London’s alternative stock market, Aquis, has accepted a £194m takeover bid from Swiss-based exchange operator SIX Group, a move that could heighten concerns about the health of the UK’s equity markets. In a market statement today, Aquis announced that the offer would value its shares at 727p each, a 120% premium to Friday’s closing price …
Business
Sky News
Steel tycoon Gupta heads for court to restructure UK arm
The steel tycoon Sanjeev Gupta is to seek court approval for a restructuring of the bulk of its remaining operations in Britain.Sky News has learnt that Liberty Steel, Mr Gupta’s privately owned company, is on Monday launching a restructuring plan for its Speciality Steel division in the UK (SSUK) that would significantly reduce its debts. …
Business
Evening Standard
Direct Line to axe 550 jobs under cost-cutting plan
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Direct Line Group has revealed plans to axe around 550 jobs as it looks to cut costs amid a turnaround at the …
Business
Sky News
Direct Line to cut 550 jobs
Direct Line has revealed a cost-cutting plan that is expected to lead to 550 job losses.The insurer, whose brands also include Churchill and Privilege, said alongside its third quarter results that a “series of initiatives” aimed to deliver an additional £50m of cost savings next year. They included the planned reduction in roles, which equated …
Business
Business Live
Mell Square ‘urban village’ plans latest as residents urged to share views
Solihull residents are being given a new opportunity to comment on a proposed multimillion-pound ‘urban village’ at Mell Square shopping centre. The scheme, which promises to bring new bars, shops, and restaurants, has moved forward this year after first being unveiled in 2023. Solihull Council took control of Mell Square Ltd in April 2021 for …
Business
Sky News
‘Renegade’ UK could be spared from Trump’s tariffs, US governor says
The UK could be spared the impact of Donald Trump’s proposed trade tariff increases on foreign imports, a US governor has told Sky News.In the aftermath of the Republican candidate’s decisive election win over Kamala Harris this week, attention is turning to what the former president will do on his return to the White House. …
Business
Sky News
Hospitality chiefs warn Reeves of carnage over Budget tax hikes
Rachel Reeves will this weekend be told by some of Britain’s biggest hospitality groups that the tax hikes imposed in last month’s Budget risk triggering a tsunami of job losses across the sector.Sky News has learnt that dozens of bosses from pub, restaurant and hotel operators have agreed to sign a letter to the chancellor …
Business
Business Live
Car sales lot to become coach depot with 11pm finish seven days a week
A car sales lot is set to be transformed into a coach depot after plans for a new entrance and exit onto a main road were withdrawn. SAR Property Solutions has secured planning permission to convert the open-air compound at the corner of Agate Street and Whalley New Road in Roe Lee, Blackburn. The site …

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