Revolut and Visa challenge the UK’s PSR over a proposed cap on international transaction fees, arguing the regulator overstepped its powers. European banks and fintechs claim the cap will make them lose money post-Brexit. Both seek a judicial review for a fair process.
The UK economy faces recession risk with high interest rates and inflation expected to increase borrowing by £15 billion by 2030. Economic forecasts for 2025-2026 have been downgraded, and consumer sentiment has hit a 15-month low due to job insecurity and high taxes.
The Bank of England maintains interest rates at 4.5% amid global trade war uncertainty. Inflation is expected to peak at 3.75% this year, and wage growth of 5.9% could exacerbate price rises. The BoE will reassess Trump’s tariffs at its next meeting in May.
CGI has acquired Novatec, adding over 300 IT experts from Germany and Spain. This enhances CGI's Stuttgart and Granada presence, increases its IP portfolio, and provides cultural fit. The acquisition positions CGI as a more competitive player in the European digital services market.
23andMe seeks Chapter 11 bankruptcy, secures $35M DIP financing. CEO steps down, CFO appointed Interim CEO. Anticipates rejecting real property leases and resolving legal claims stemming from a 2023 cyber breach. 45-day bidding process for qualified buyers underway.
Private equity deals on AIM were £5bn, 62% of M&A value. AIM 100 fell 6% versus FTSE 100's 5% gain, leaving firms exposed. There is an increase in new admissions, but liquidity support is the key to AIM stability.
