Britain’s Chancellor Rachel Reeves may abandon a campaign promise by increasing income tax to address a 30 billion pound budget deficit, according to government officials. Treasury discussions examined various options after the Office for Budget Responsibility reduced productivity estimates, which cost approximately 20 billion pounds annually. The government must fund welfare programs and reverse cuts…

NatWest reported profits of 2.2 billion pounds for the quarter ending in September, a 30.4 percent increase that surpassed analyst projections. The bank’s income climbed nearly 16 percent to 4.3 billion pounds as deposit margins expanded. Share prices rose 3 percent to 563 pence, reaching the highest level since the 2008 government rescue. Chief Executive…

Reedah El-Saie received 30,000 pounds from three investors after presenting her education technology company Brainspark Games on Dragons’ Den. Sara Davies, Deborah Meaden and Touker Suleyman each contributed 10,000 pounds for 1 percent equity in the artificial intelligence learning platform that targets neurodiverse students. The London business owner created mobile games for children ages 7…

British car production fell to a 70-year low after hackers shut down Jaguar Land Rover factories for over a month. The Society of Motor Manufacturers and Traders reported total vehicle output dropped 35.9 percent in September to 54,319 units. The attack began on Aug. 31 and forced JLR to close plants in Solihull and Halewood,…

CapitalSage Holdings appointed Nath Ude as Group Chief Executive Officer of CapitalSage Technology Limited on Oct. 13. The executive will direct financial services operations across Nigeria, The Gambia, Kenya and the United Arab Emirates. Ude manages Kolomoni Microfinance Bank, ERCAS, Regius Asset Management, Regius Capital, CreditAssist Investment, Tiki by Kolomoni and SageBrush Wealth. He previously…

African tax authorities agreed to improve collection methods targeting wealthy individuals at a workshop held from October 21 to 23 in Entebbe, Uganda. The African Tax Administration Forum and International Centre for Tax and Development organized the continental meeting to address revenue mobilization challenges. Executive Secretary Mary Baine said most personal income tax revenue in…

First City Monument Bank has added mutual fund investment capabilities to its mobile application. The FCMB Group subsidiary enables customers to open investment accounts and purchase funds managed by FCMB Asset Management through the app. The feature provides access to four mutual fund options. These consist of the Legacy Money Market Fund, Legacy Equity Fund,…

IKI Leads Limited plans to manufacture affordable premium alcoholic beverages for Nigerian consumers. The company launched its Doncoco collection on Saturday at Capital Club in Lagos, expanding a product range that features Pasa Bitters Premium Liquor, PoloClub Chocolate Vodka, Meridian Club Cream and Riverine Aromatic Schnapps. Managing Director Innocent Onwunali said the new line required…

Nigeria’s agriculture minister told youth entrepreneurs on Saturday they must lead food system changes through technology and business innovation. Abubakar Kyari said President Bola Tinubu placed farming at the center of development plans that prioritize national stability through adequate production. The government shifted from directive policies to collaborative strategies, in which young farmers help design…

Nigerian Bottling Company will sponsor the FinTribe Finance Fair for a second year on Saturday at Landmark Event Centre in Victoria Island. The event brings together women seeking financial education and business resources under the Level Up theme. The bottler has supported Nigerian development for 75 years through programs that assist female entrepreneurs who sell…