British universal bank with East Asia roots, global footprint
Banks have reported stronger half-year profits amid sustained higher interest rates, with Barclays, Lloyds, and NatWest expected to post gains. Analysts foresee continued earnings growth as the sector navigates mortgage stress and potential increases in bad debt provisions. The sector remains buoyant but faces scrutiny over tax policy and regulatory expectations.
Savers have more options as banks, fintechs and platforms offer easy-access and fixed-rate accounts above 4% in August 2026. Several products include bonuses, with some rates proving short-term; readers should compare terms and ladder strategies to shield value from inflation.
AstraZeneca has been linked to talks with Bristol Myers Squibb on a potential mega-merger. Reports say talks are ongoing and could form one of the industry’s largest deals, but regulatory hurdles and integration risks loom large.
Lilly and Novo Nordisk have surpassed forecasts in Q2, widening the gap in the obesity-drug space. Lilly leads in the US with about 61% share; Novo raises full-year outlook but faces questions about Wegovy's growth and its pipeline. Investors are watching whether Novo can sustain momentum as competition intensifies.
The BP windfall is driving renewed calls for a windfall tax as profits soar amid Middle East conflict. Campaigners say households face higher bills while governments weigh potential measures to curb corporate gains and accelerate the transition to cleaner energy.
Banks report six-month profits surging across the UK, fueling calls for windfall taxes to fund cost-of-living measures. Campaigners urge government to consider a levy on profits to support households, while bank chiefs caution on lending and growth.
Britain’s housing market has cooled further, with Rightmove reporting a 2% drop in newly listed prices this August. London leads the decline while the North steadies, and investors are pushing prices lower as liquidity returns to the market.
Bankers warn that higher levies could drive investment and jobs away, while politicians face pressure to fund cost‑of‑living measures. Dimon cautions that an uncompetitive tax system risks capital flight as Healey prepares to deliver his Budget.
A wave of AI hardware standards and physics-focused models is driving enterprise adoption, with startups and giants racing to interoperate tools, open standards, and better data for real-world AI deployments. Updates cover new hardware interfaces, robotics training advances, and the shift from cloud-only AI to agents operating in physical environments.
The United States has reached a historic debt level, driven by Iran tensions and tariffs. Higher debt issuance is lifting bond yields, pushing mortgage rates higher and increasing monthly payments. Homebuyers face a slower market as rates stay elevated amid near-record home prices, while employment remains strong and demand could rebound if rates ease.
The United States has brought a racketeering case against Huawei, accusing the company of years of illicit activity including theft of trade secrets and sanctions violations. The trial in Brooklyn is set to last about three months as prosecutors present their case and the defense counters that the government relies on selective evidence and misplaced blame. The case ties Huawei’s global business to broader tensions in US-Chinese tech competition.
Trade unions and the new Labour leadership are pushing for higher taxes on banks’ profits to fund a social tariff that could lower energy bills for millions, as energy costs and inflation remain central to the policy agenda.
UK banks are offering £200-plus to switch current accounts, alongside better savings rates. Experts warn that while switching is easy, readers should check terms and the broader impact on loyalty and service quality. The trends reflect a shift in consumer behaviour as inertia meets promotional incentives.
The government has positioned itself as a partner for growth, hosting roundtables with business leaders and regional mayors to push a culture shift toward easier start-ups, reduced costs, and devolved power. Officials warn of a tough Budget environment amid rising borrowing costs and energy prices.
The TUC has called for a levy on bank profits to fund a social tariff aimed at cutting energy bills. The union movement argues ministers should move faster on cost-of-living relief as households face high energy costs and inflation.
Nicholas Brandram, 44, a former HSBC private banker and descendant of Queen Victoria, has been found dead at his Chiswick home. He had been arrested in June in connection with the 2017 Putney Bridge incident and was released under investigation. Police say the death is unexpected but not believed to be suspicious. A coroner will review the case.
The National Payments Corporation of India has announced a 0.4% merchant fee on UPI payments over ₹2,000 for merchants, with caps and exemptions for smaller transactions. The move funds digital-infrastructure and security while sparking debate on adoption costs for businesses.
Oil prices have risen above $100 a barrel, with Brent trading around the $105 level and WTI around $103-$107 after Middle East tensions and supply disruptions in Hormuz and Bab al-Mandeb. Analysts warn supply concerns could keep pressure on energy costs; diesel and gas prices are climbing, and bond yields are rising on inflation worries.
The Bank of Japan has raised rates to 1.25%, joining the US Federal Reserve and the ECB in tightening monetary policy as inflation pressures persist. Meanwhile, UK and other market signals show mixed responses, with the BoJ’s move sending Yen and global markets in flux.
Administrators warn BrewDog’s assets sales fall short of paying all creditors. Unsecured creditors will receive less than a penny in the pound; HMRC and staff wages owed face shortfalls as Tilray’s rescue deal leaves equity worthless for 200,000 crowdfund investors.
Oil prices have fallen after data showed Asia is set to import its highest monthly crude volume since the US–Iran war began, while traders continue to monitor UN‑level diplomacy and regional tensions. Brent has slipped near $102 a barrel and U.S. crude is trading in the low $90s as markets weigh rising Asian flows against Middle East risks.
The ONS has reported that public sector net borrowing reached £18.3bn in August, above City and OBR forecasts, leaving year‑to‑date borrowing at £77.3bn — £8.1bn higher than the Office for Budget Responsibility expected. Higher inflation and rising debt interest have pushed interest payments to record August levels and narrowed Chancellor John Healey’s fiscal headroom before the 28 October Budget.
U.S. stocks remain near records, but market breadth has weakened. A Bank of America indicator nears a sell signal, while Ned Davis Research notes deteriorating breadth and potential downside in the near term. Goldman Sachs reports a rising share of S&P 500 stocks with negative beta, underscoring a split market despite indexes hovering near highs.
Starbucks has opened two stores in Urumqi, Xinjiang, drawing sustained criticism from US lawmakers and human-rights groups over the region’s governance and alleged abuses. The openings are part of a broader push into Xinjiang’s tourism-driven economy, drawing mixed reactions from international observers.
The Reserve Bank of India has raised the repo rate by 25 basis points to 5.50% in a calibrated tightening move as inflation remains on an upward path and growth stays resilient. Policymakers signal no near-term cuts while watching global rate moves and weather-driven risks.
TSMC has posted record profits on strong AI demand and is exploring a Texas site for its Terafab project, while expanding capacity in Arizona amid ongoing global capacity constraints. The company notes demand remains well above current supply, with plans to grow its U.S. manufacturing footprint.
The BBC and Guardian report that the UK government is weighing an increase to the bank surcharge ahead of the 28 October budget. Ministers are considering reversing Hunt’s cuts and possibly returning the surcharge to 8%, which would raise billions in tax revenue while banks warn on competitiveness. Trade unions press for a larger levy amid record profits in the sector.
Investors are re-evaluating the AI hardware boom as neoclouds struggle with debt-funded expansion. Companies such as CoreWeave face scrutiny over finances, while the broader sector faces higher financing costs and cautious lending. The market shift follows mixed results from AI infrastructure players and softening sentiment after a string of debt-fueled capex plans.