The latest business and financial headlines, updated hourly via RSS from BBC Business, The Guardian, and CNBC.
Reform UK leader strengthens ties with crypto sector with stake in former Tory chancellor’s company Stack BTCBusiness live – latest updatesNigel Farage has invested in Kwasi Kwarteng’s bitcoin reserves company, as the leader of Reform UK aligns himself closer with the cryptocurrency industry.The MP has invested £215,000 in Stack BTC, the crypto business that is chaired by the former Conservative chancellor. Continue reading...
Markets predict Bank of England will hold rates in 2026 as bond yields soar on forecasts of prolonged conflictIran war drives oil prices above $100 a barrelBusiness live – latest updatesUK interest rates are not expected to be cut this year and could even rise next summer, according to financial markets, in a dramatic reversal of forecasts before the US-Israel war on Iran.Markets data on Monday showed that investors predict the Bank of England will most likely keep its base rate on hold at 3.75% for the remainder of the year, and would raise them to 4% next June. Continue reading...
Exclusive: Bank Policy Institute, representing lenders such as JP Morgan and Goldman Sachs, argues that new licenses could harm US consumers and financial systemSign up for the Breaking News US email to get newsletter alerts in your inboxSome of the largest US banks are considering suing their financial regulator, arguing that a new raft of licenses for crypto, payment and fintech could put American consumers and the wider financial system at risk.The Bank Policy Institute (BPI), which represents 40 of the biggest US lenders including JP Morgan, Goldman Sachs and Citigroup, is understood to be weighing its legal options after the Office of the Comptroller of the Currency (OCC) failed to heed repeated warnings from influential banking groups and state regulators over its reinterpretation of federal licensing rules. Continue reading...
With oil prices soaring and stock markets falling, economists warn that a prolonged conflict in the Middle East risks knocking growth worldwide and boosting pricesMiddle East crisis - live updatesOil prices continued to surge on Monday, triggering a stark sell-off across some of the world’s leading stock markets amid growing concern that the US-Israel war on Iran could set the stage for a global economic shock.The Middle East conflict has sparked an energy supply crisis that could risk driving up inflation and interest rates, according to economists, who believe growth is set to weaken while prices rise. Fears of stagflation – where economic activity stagnates, but inflation increases – loom large. Continue reading...
Donald Trump insists surge in energy prices is ‘very small price to pay’ as Middle East conflict sparks fresh stock market sell-offMiddle East crisis - live updatesGlobal oil prices surged past $100 (£74, AU$142) a barrel for the first time since 2022 as fallout from the US-Israel war with Iran continues to wipe 20m barrels of oil from the market each day.A weekend of escalating violence in the Middle East intensified concerns around a sustained supply crunch, propelling oil prices to their highest level in four years and triggering a deep stock market sell-off. Continue reading...
Figure above 40% every week since early January as report says situation ‘no longer in freefall nor in recovery’Workers are heading back to offices across the UK in droves, pushing office occupancy to the highest since before the Covid-19 pandemic, as an expert described the numbers as “no longer in freefall nor in recovery mode but settling”.Investment banks such as Goldman Sachs and JPMorgan Chasehave led the push with strict return-to-office mandates despite anger among many employees about being ordered back to the office five days a week. Companies in other sectors have also increased days in the office but many businesses, including law and accounting firms, still allow staff to work remotely two days a week. Continue reading...
Business group warns of harm to small firms and trade as it calls for phased end to ‘de minimis’ exemptionsRemoving the UK’s tariff exemption for low-value imports could push up prices and harm small companies and trade, a leading business group has said, as it called for a phased-in approach to ending the “de minimis” rules.The UK government plans to end the tax break on imports of goods worth less than £135, making them subject to customs duty, with the changes to take effect in March 2029 at the latest. The US removed its longstanding de minimis exemption on 29 August. Before that packages valued at less than $800 (£597) were allowed to be shipped into the US tariff-free. Continue reading...
Data shows labour market is still in a fragile position due to economic uncertainty, with few signs of recoveryBritain’s jobs market is “floundering” amid weak hiring demand, with only limited signs of recovery, data has revealed.Companies remain cautious about hiring staff amid cost pressures and economic uncertainty, according to two reports released on Monday. They show the labour market continues to be in a fragile position. Continue reading...
Exclusive: Goldsmith and brother Ben the major investors in trkradio, which is due to go to air next monthThe former Conservative minister Zac Goldsmith is launching a new sports radio station, trkradio, in the run-up to the men’s football World Cup this summer.The Track Radio Corporation is understood to have been granted a licence by Ofcom last week, with Goldsmith and his brother Ben, a financier and environmentalist, the major investors. Continue reading...
National Gas insists storage broadly in line with levels for time of year despite disruption for tankers carrying LNGGreat Britain has only two days of fossil gas stored after a decline in energy reserves, as more tankers carrying liquefied natural gas (LNG) are diverted from their course to Europe towards Asia because of the Iran war.Great Britain had 6,999 gigawatt hours (GWh) of fossil gas stored on Saturday, according to figures from National Gas, which owns and operates the gas national transmission system. This compares with 9,105 GWh a year earlier. Continue reading...
Exclusive: Plane that flew Reform leader to Maldives appears to be linked to billionaire Christopher HarborneNigel Farage’s attempt to reach the Chagos Islands military base was made on a private jet that appears to be linked to Reform UK’s mega-donor Christopher Harborne, it has emerged.Harborne, who has donated £12m to Reform UK, has links to the plane that flew Farage to the Maldives, and another that flew a group of Chagossian campaigners to Sri Lanka before they set out for the archipelago by boat. Continue reading...