News
Reeves unveils banking shake-up, but critics say investment reforms don’t go far enough
9+ hour, 22+ min ago (428+ words) Chancellor Rachel Reeves ©House of Commons Chancellor Rachel Reeves used her annual Mansion House speech in London last night to set out a new Financial Services Growth and Competitiveness Strategy, pledging to move the UK away from “risk-averse regulation” and…...
Interest rates may have to rise to combat inflation
5+ day, 13+ hour ago (190+ words) Interest rates may have to increase in the coming year to help keep inflation in check, according to Bank of England chief economist Huw Pill. Although the Bank pinned borrowing costs at 3.75% last month, Mr Pill is wary of what…...
Credit card defaults hit highest level since financial crisis
1+ week, 5+ day ago (219+ words) Credit card defaults have climbed to their highest level since the global financial crisis, according to the latest Bank of England data, as households continue to face mounting financial pressures. Banks reported the biggest increase in customers falling behind on…...
Scottish Friendly finds women worrying more than men about finances
2+ week, 1+ day ago (476+ words) Women are more likely to be worried about affording everyday outgoings over the next 12 months as day-to-day financial pressures threaten long-term savings and investments, new research from Scottish Friendly reveals. The mutual’s latest Family Finance Tracker research shows that 71% of…...
Bank of Scotland records dip in Scottish business confidence
2+ week, 1+ day ago (277+ words) Scottish business confidence fell two points during June to 48%, according to the latest Business Barometer from Bank of Scotland. Companies in Scotland reported lower confidence in their own trading outlook month-on-month, down five points at 57%. When taken alongside their optimism…...
Scottish onshore GDP inches upwards by 0.1% in April
2+ week, 6+ day ago (257+ words) Scotland’s onshore GDP grew by 0.1% in the three months to April 2026, according to the latest figures published by the Scottish Government. GDP remained flat in the three months to January 2026. In the three months to April, the sectors with the…...
UK economy shrinks as Middle East conflict bites, but quarterly picture holds firm
1+ mon, 3+ day ago (562+ words) The UK economy contracted by 0.1% in April, official figures show, as the conflict in the Middle East began to weigh on growth and energy prices climbed following Iran’s closure of the strait of Hormuz. The fall in gross domestic product,…...
RBS: Business activity declines in Scotland as price pressures remain high in May
1+ mon, 4+ day ago (627+ words) Business activity fell across Scotland’s private sector midway through the second quarter, the latest Royal Bank of Scotland Growth Tracker has revealed. The headline RBS Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined…...
Nationwide boss’ pay doubles to £4.7m
1+ mon, 6+ day ago (368+ words) Dame Debbie Crosbie, chief executive of Nationwide, has seen her pay almost double following the building society’s £2.9 billion takeover of Virgin Money. Ms Crosbie, who has led the mutual since 2022, received a total package of £4.67m for the financial year to…...
KPMG: Scottish GDP forecast to grow by 0.8% in 2026 as Iran conflict raises inflation and growth risks
1+ mon, 6+ day ago (609+ words) Vishal Chopra – Scotland senior partner at KPMG UK Scottish GDP growth is expected to slow to 0.8% in 2026, down from 1.4% in 2025, as pressures from a new energy price shock push up inflation, weigh on spending and lead to potential further tightening,…...