financial services sector
Coverage of financial services sector in the Nexus archive.
- City gears up for a fight on bank tax under Burnham
Britain’s bankers fear a potential bank tax under Prime Minister Andy Burnham due to fiscal pressures, causing concern in the City of London. The Treasury, led by Chancellor John Healey, may target the financial sector for increased revenue, with industry executives panicking over a possible fall budget announcement. The return of Emma Reynolds and Lucy Rigby to Healey’s team has calmed some nerves but raised questions about regulatory continuity and fiscal policy.
- From missiles to malware: Why the Gulf is stepping up its operational resilience
Gulf states are enhancing operational resilience due to a surge in cyberattacks, physical strikes on cloud infrastructure, and AI-driven threats. The UAE experienced a rise in daily cyberattacks from 200,000 to 700,000, with AI enabling faster, more sophisticated attacks, while cybersecurity spending in the region is projected to reach $4.07 billion in 2026.