Money Moves

The UK tax office, HM Revenue & Customs (HMRC), has faced scrutiny from a group of MPs regarding its handling of child benefit payments. The Treasury Select Committee reported that HMRC mistakenly ceased payments to thousands of claimants based on the incorrect assumption that they had permanently moved out of the UK. This decision followed […]

Customers holding bank accounts in the UK will see an increase in protection for their deposits in the event of a bank or building society failure. The current limit for the deposit protection scheme will rise from £85,000 to £120,000 starting in December. This change, announced by the Prudential Regulation Authority (PRA), represents the most

Since 2018, the United States has implemented stricter investment regulations aimed at preventing foreign entities, particularly from China, from acquiring interests in sensitive sectors such as semiconductors and telecommunications. This shift follows instances of foreign investments that raised concerns among U.S. security officials. One prominent case involved the sale of Wright USA, an insurance company

Last week, President Donald Trump announced the removal of tariffs on over 200 products, a significant shift in a key administration policy. This decision coincides with his renewed focus on cost-of-living issues amid declining approval ratings linked to affordability concerns. The rollback has been welcomed by various stakeholders, including the Food Industry Association (FMI), which

Wood plc, the Aberdeen-based company integral to the region’s oil and gas sector, is set to be acquired by Sidara, a Dubai-based engineering and design firm. This decision follows a significant drop in Wood’s market value, which has raised concerns about its stability. A shareholder vote resulted in 88% approval for the takeover after delays

Agency staff who were brought in during the ongoing bin strikes in Birmingham are set to join the picket line, citing claims of bullying and harassment. The strikes, which have involved hundreds of refuse workers, began in March and focus on disputes over pay and job security. This situation prompted the Birmingham City Council to

In March, optimism surged in European financial markets due to a historic agreement facilitated by Friedrich Merz, Germany’s then-chancellor-elect, which aimed to loosen constitutional spending limitations. This deal was seen as a potential catalyst for alleviating prolonged economic stagnation in the region and addressing geopolitical challenges from the US and China. However, six months into

The Big Food Project, an emergency food charity in Blackpool, is facing potential closure unless it receives essential support to continue its operations. This organization redistributes surplus food from supermarkets and manufacturers to approximately 125 foodbanks, schools, community kitchens, crisis services, and families in Blackpool, Fylde, and Wyre. The charity emphasizes the urgent need for

Czech billionaire Daniel Křetínský is set to become a significant shareholder in TotalEnergies following the sale of a stake in his electricity generation business, which includes power plants in the UK, to the French oil company. Křetínský agreed to transfer a 50% stake of his European power generation assets to TotalEnergies for approximately €5.1 billion

Castle Water, an independent water retailer, has expressed intentions to invest an additional £1 billion into Thames Water, surpassing current proposals should it win control of the struggling utility. John Reynolds, the chief executive of Castle Water, critiqued the existing restructuring plans under negotiation with creditors, claiming they inadequately address both the financial and environmental