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Trumps Venezuela oil meeting starts with few concrete promises
US President Donald Trump met with oil executives in Washington on Friday, as he pushed for major investments in Venezuela. But no major financial commitments were immediately forthcoming from the meeting, with the head of ExxonMobil warning the South American country was currently “un-investable”. Trump has said he expects big oil companies to direct “at…
TGI Fridays closes 16 UK stores, with 456 job losses
Jemma CrewBusiness reporter PA Media TGI Fridays has closed 16 of its UK restaurants, putting 456 employees out of work. The American-inspired casual dining chain’s remaining 33 restaurants will continue to operate after the business was sold in a rescue deal. Interpath was appointed as administrator to Liberty Bar and Restaurant group, which managed the…
What are National Insurance and income tax and what could change in the Budget?
Getty Images There has been speculation that November’s Budget could see Chancellor Rachel Reeves break Labour’s pre-election pledge not to increase income tax, National Insurance (NI) or VAT for working people. It’s been suggested that she could extend a freeze to the income thresholds at which people start paying the taxes, or have to pay…
Reeves acknowledges she is looking at tax and spending ahead of Budget
Chancellor Rachel Reeves has acknowledged she is “looking at tax and spending”, ahead of her autumn Budget next month. Reeves said she would “always make sure the numbers add up”, in an interview with Sky news against a backdrop of slow economic growth and mounting government debt. The chancellor has previously hinted at tax rises,…
Nationwide fined £44m for inadequate crime controls
Nationwide has been fined £44m for not having the right processes in place for detecting financial crime between 2016 and 2021. The building society had “ineffective systems” for assessing risk and monitoring the transactions of its customers, the Financial Conduct Authority (FCA) said. In one instance, Nationwide missed opportunities to identify unusual activity after £26m…
