News

The UK collected a record £24.2 billion in capital gains tax in 2024/25, according to new data released on Thursday, following Rachel Reeves' decision to raise the rate in her first Budget. HM Revenue & Customs revealed an 89% increase in capital gains tax receipts compared with the previo

Tributes have been paid to "pioneer" Geraldine Maloney as the City and financial services community mourned the loss of "one of its most respected and loved" after she died following a long battle with illness. The Quilter veteran began her career at Foster & Braithwaite in July 1985 as a dealer

KPMG has been appointed as liquidators of JPMorgan Global Core Real Assets after shareholders approved plans to voluntarily wind up the fund at an extraordinary general meeting. Shareholders approved all four resolutions with more than 99% support, with the special resolution to voluntarily wind up

Junior staff could be ordered back to the office more frequently as part of a push to sharpen their 'human skills' as artificial intelligence (AI) begins to take over a growing proportion of technical work. Consulting executives said AI had made interpersonal skills more valuable, arguing these skil

Lloyds Banking Group has appointed Kelly Bennett as an independent non-executive director to its boards. Mr Bennett served as a chief marketing officer with Netflix from 2012 until 2019. He previously held senior positions within Warner Bros Entertainment, including vice president, interactive, worl

Invest2Scale has unveiled a new series of masterclasses aimed at helping Scotland's scaling businesses become more investable, with sessions on financial planning, capital raising and investor readiness. The initiative founded by Eden Scott, Cazenove Capital, MBM Commercial and CT, replaces the grou

Scottish businesses drove demand for lending, despite many firms reporting tightening cash flows, according to the new data from Barclays. The Barclays Business Prosperity Index found that among large corporates in Scotland, average loan value rose by 10.3% and loan volumes increased by 18.3% this q

Prudential's operating profit before tax rose 9% to $1.81 billion in the first half to June 30, as the insurer raised its interim dividend by 15% and unveiled a further $300m share buyback. The firm reported that its adjusted operating profit after tax increased by 10% to $1.52bn. Adjusted earnings

Banking and credit card providers attracted six times more complaints than the average across all other financial services sectors, according to new analysis. Analysis by Huntswood, a subsidiary of ResultCX, found the average number of complaints handled over six months was 15,360 for organisations

Anas Sarwar has pledged his commitment to Scotland's financial services sector following a meeting with BlackRock and other industry leaders in Edinburgh. Lord Sarwar stepped down as leader of the Scottish Labour Party before taking up a seat in the House of Lords, so he could take a job within Andy

Alternative Income Reit (AIRE) has urged its shareholders to vote against Glenstone REIT's offer to take over the company, accusing it of creating "unwarranted uncertainty" about the future of the fund. The board of AIRE launched the scathing attack against its largest shareholder, claiming it has f

Accountancy firm Hall Morrice has revealed plans to launch a dedicated artificial intelligence (AI) service following a record year. The Aberdeen-based business recorded turnover reaching £6.2 million, due to an increase in its statutory audit work and demand for its advisory services.

Young investors trust AI tools more than TV or influencers, according to new research. Data from the Financial Conduct Authority (FCA) found that 56% of 18-40 year-olds who own or are considering investments trust AI tools, compared with 47% for TV and radio, 46% for news media (down one percentage

Liquidators FRP Advisory sell Sutherland Spaceport assets to Highlands and Islands Enterprise (HIE). Chad Griffin and Graham Smith of FRP were appointed joint liquidators on June 3, 2026. Sutherland Spaceport was established in 2020 by Moray-based space launch company Orbital Express, which ent

The Bank of England has been urged by economists to halt its bond-selling programme, arguing it is driving up the government's borrowing costs at the expense of taxpayers. A group of bond investors and analysts warned the bank's approach to unwinding quantitative easing is adding pressure to already