One of Britain’s biggest buy-to-let lenders has rattled investors for the third time in little more than a year with a warning that it is being hampered by stiffer competition in the mortgage market. Shares in OSB Group tumbled by almost a fifth after the FTSE 250 company behind the Kent Reliance and Precise Mortgages…
Shortly after the election, Rachel Reeves held an event for business leaders in No 11. The chancellor joked to the assembled bosses that they must know the place better than she does. No, several replied, it was their first time. Reeves shouldn’t have been surprised. Some on the left may assume that Tory governments are…
The multibillion-pound Crossrail 2 project for London could be resurrected after gaining support from members of the capital’s elected assembly. A metro line running under London linking the southwest of the capital with its northeastern boroughs has been under discussion for 50 years. In the 21st century, however, it was superseded by the north-south Thameslink…
China is to start restricting exports of antimony, a key mineral used in batteries but also in making weapons, further stoking East-West tensions in global trade. The controls, which will require exporters to seek a licence to export the mineral and its related compounds, will come into force on September 15. The commerce ministry said…
As one of Britain’s biggest health and life insurers, the staff canteen of Vitality serves suitably nutritious lunches. Neville Koopowitz, Vitality’s chief executive, often joins the workforce for free meals on the fifth floor with views stretching across the River Thames and London’s South Bank. “We were actually very particular about the catering company that…
PwC has become the first audit firm to be fined by the City regulator with the imposition of a £15 million penalty for failing to raise concerns about suspected fraud at London Capital & Finance. An investigation by the Financial Conduct Authority found that The Big Four accountancy group’s audit team had encountered several “red…
Investment in Britain’s mobile phone network is “unsustainable”, Three UK has warned as it seeks approval from the competition regulator for a planned £18 billion merger with Vodafone. The lossmaking Three UK said its revenue had risen by 9 per cent from £1.23 billion to £1.33 billion in the first half of its financial year,…
Howden Joinery is one of the smaller names in the FTSE 100 club. Nevertheless, the joinery business, which specialises in fitting kitchens, has become a City favourite in recent years, with the shares rising from a pandemic-era low of 441p to more than 800p today. The kitchen renovation market can be shaky, depending on how…
Students are under increasing financial pressure to pay for their studies — and recent changes to how graduates pay back their loans will leave the lowest earners worse off. Last September three big changes to loan repayments were made that are affecting those who started university during the 2023/24 academic year onwards. The changes mean…