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UK payments group Wise has reported annual profits more than tripled as it benefited from rising interest rates and expects the trend to continue, sending its shares up almost 20 per cent. The fintech, whose listing in 2021 was hailed as a rare triumph for the London market, said its interest income from customers’ cash

China’s premier Li Qiang has criticised a western push to limit trade and business ties with the country and promoted international economic co-operation in a speech that described de-risking as a “false proposition”. “Governments should not over-reach themselves, still less stretch the concept of risk or turn it into an ideological tool,” Li said in

Buried in the ground, far out of sight, exists a sprawling web of copper and steel pipes that are integral to keeping homes across the world running smoothly. Whether they are filling British taps with water, transporting gas across the southern US or acting as underground broadband ducts beneath remote parts of Spain, the common

One of the crueller games we played as children was to see what nonsense we could make the supply teachers swallow. I remember one person who managed, for a few glorious minutes, to convince the luckless stand-in that his Muslim faith prohibited him from reading out loud during the month of Ramadan. If there is

What to make of the UK? It’s an economy supposedly in the throes of a “cost of living crisis” and yet consumer demand remains resilient enough that the central bank has now raised interest rates 13 times in a row to try to reduce stubbornly high inflation. It’s not as if no one is struggling.

For more than two decades, 8 Canada Square, the London skyscraper that houses HSBC’s global headquarters and bears its logo, has been a symbol of Canary Wharf’s status as a global financial centre. But the bank’s decision to ditch the city’s east-end Docklands in favour of a more central location reflects the business district’s waning

Vitol and Gunvor, two of the world’s largest independent energy traders, remain significant buyers of refined oil from Russia more than a year after both companies pledged to drastically reduce their business with Moscow following President Vladimir Putin’s full-scale invasion of Ukraine. Analysis of export records filed with Russian customs in the first four months

UK shop price inflation slowed in June helped by a second consecutive monthly decline in the growth of food prices, according to the latest industry data. The cost of shop items rose at an annual rate of 8.4 per cent this month, down from 9 per cent in May and below the three-month average of

HSBC has had a history of money-laundering lapses. It was fined a decade ago in the US for its role in enabling Latin American drug cartels, and in the UK in 2021 for a string of failures including serving the leader of a criminal gang. So it is understandable that the bank and its peer

Russian president Vladimir Putin on Monday suggested Ukraine had somehow been involved in warlord Yevgeny Prigozhin’s shortlived rebellion. “This fratricide is the result of Russia’s enemies and the neo-Nazis in Kyiv, their western masters, and all sorts of national traitors wanted,” Russia’s president said in a five-minute televised address to the nation, his first comments