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In September 2025, multiple high-profile data breaches and cybersecurity incidents emerged globally. WhatsApp's former security chief sued Meta over systemic security flaws and retaliation. Luxury group Kering disclosed a breach affecting millions of customers. UK retailer Co-op reported a cyberattack causing significant financial losses and operational disruption. Meanwhile, Neon Mobile app faced a critical security flaw exposing user call data, leading to a temporary shutdown.
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Bank of America CEO Brian Moynihan promotes Jim DeMare to co-president, signaling a potential leadership change. DeMare's rise reflects a shift towards risk-taking, contrasting Moynihan's cautious style. The move comes amid internal debates on succession and strategic direction, with Moynihan indicating he plans to stay until 2030.
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Multiple banking developments are underway: UK banks increase switching bonuses, Israel's Esh Bank begins limited operations with a revenue-sharing model, and the UAE launches a new instant payment platform. These efforts aim to boost competition, transparency, and customer benefits in banking services.
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As of October 2025, several UK companies, including Shawbrook, Princes Group, and The Beauty Tech Group, are preparing to list on the London Stock Exchange. Shawbrook targets a £2 billion valuation, aiming to raise £50 million, while Princes and Beauty Tech seek funds to expand their operations. This surge marks a rebound in London's IPO activity after years of decline.
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Nikolay Storonsky, CEO of Revolut, has changed his official residence to the UAE following the UK’s abolition of its non-domicile tax regime. This move coincides with Revolut’s ongoing UK banking license process and expansion in the Gulf region, reflecting broader trends among wealthy UK residents leaving due to tax reforms.
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Industry leaders and pension funds are lobbying the UK government to increase domestic investment, with proposals to require pension schemes to allocate at least 25% of assets to UK equities. Meanwhile, a major burger chain is up for sale, and industry voices warn of fiscal risks ahead of the upcoming budget.