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UK consumer confidence tumbled in November, according to the British Retail Consortium, with concerns about the contents of Chancellor Rachel Reeves' budget next week heightening anxieties. Net consumer expectations for the UK economy over the next three months fell to -44% from -35% in October, the lowest since April and also the biggest month-to-month fall since April, while net consumer expectations for personal finances over the next three months dropped to -16% from -11%. “Strong hints by government, earlier this month, of income tax rises heightened public concern about their own finances and the wider economy, though government has since rowed back", commented BRC chief executive Helen Dickinson. “The Chancellor needs a few rabbits from the Budget hat next week to bolster weak consumer and business confidence – both essential for economic growth".

 

Bloomberg

Reuters

The Independent

Stop Letting SIEM Slow You Down

Legacy SIEM is becoming a liability for UK risk leaders. Rising ingestion costs, patchy visibility, and mounting audit gaps now expose organisations to operational, financial, and regulatory risk. This guide shows how to break the cycle. It gives senior security and IT leaders a clear, structured framework to decide whether their current SIEM still justifies its cost and how to execute a migration without disruption. It drills into the true cost of renewing the wrong platform, the risks of vendor lock-in, and what modern SIEM capability should actually look like, from scalable pipelines to cross-environment integration. It also highlights the blind spots in many managed SIEM offerings that push noise instead of delivering outcomes. For CISOs and risk professionals under pressure to cut spend while improving response, this is a practical blueprint for transforming detection, proving impact, and regaining operational control.

 

The Basel Committee on Banking Supervision is reconsidering global rules for banks' crypto holdings. The US and UK have rejected the current regulations, which impose a 1,250% risk weighting on volatile digital assets. Committee chair Erik Thedéen noted that the rapid growth of stablecoins, now valued at around $300bn, necessitates a new regulatory approach.

 

CoinDesk

Financial Times

Kurt Hohl, the chief accountant at the US Securities and Exchange Commission (SEC), has urged the Public Company Accounting Oversight Board to adopt international standards for auditing. Speaking at a conference at Baruch College, he said: "I'd like to see a greater push for convergence on auditing standards."

 

Bloomberg Tax

The Federal Communications Commission (FCC) is investigating whether the BBC’s editing of a speech delivered by President Donald Trump in a Panorama documentary breached US regulations. FCC chairman Brendan Carr has written to executives at the BBC and to the heads of US broadcasters PBS and NPR to find out whether the report was aired in the US. PBS and NPR distribute BBC programming in the US.

 

Financial Times

The Daily Telegraph

Meta has begun notifying young Australians to download their digital histories and delete their accounts from Facebook, Instagram, and Threads ahead of a new law banning accounts for users under 16. The Australian government mandated that platforms must exclude users younger than 16 starting December 10th. Meta informed thousands of young users via SMS and email, saying: “We will start notifying impacted teens today to give them the opportunity to save their contacts and memories.” With an estimated 350,000 Australians aged 13 to 15 on Instagram, the company is taking steps to comply with the law. Meta's vice president, Antigone Davis, emphasized the need for a more accurate age verification system, suggesting that app stores should collect age information during sign-up. Dany Elachi, founder of Heaps Up Alliance, supported the age restriction, observing: “children under the age of 16 are better off in the real world.”

 

AP News

BBC News

Reuters

Sydney Morning Herald

Global brands are increasingly losing control of their trademarks in Russia, where more than 300 foreign companies have faced legal challenges since 2024 amid deepening economic isolation. Under Russian law, trademarks unused for three years can be cancelled and reassigned cheaply, leading firms such as Victoria's Secret, Nokia, Inditex, and Ericsson to forfeit rights as opportunistic challengers file termination claims. The Kremlin's broader push to nationalise or force the sale of foreign assets, combined with political hostility toward Western firms, is closing the door on companies hoping to eventually re-enter the Russian market. Many are rushing to renew or defend their trademarks despite having exited the country.

 

Bloomberg

The UK's Serious Fraud Office (SFO) has arrested two men in connection with a suspected £20m cryptocurrency fraud. Raids occurred in West Yorkshire and London, and targeted a cryptocurrency scheme called Basis Markets. Basis Markets, which the SFO described as a “suspected fraudulent scheme” and is not a company, is said to have raised millions of pounds via two public fundraisers in November and December 2021, stating it would use the cash to create a “crypto hedge fund.” Nick Ephgrave, SFO director, said: "Today's action is an important step in our investigation." It marks the SFO's first major cryptocurrency case following increased funding for its crypto capabilities.

 

The Guardian

British International Investment has partnered with BlueOrchard to create the BlueOrchard Climate Action Mobilisation Fund, aiming to raise over £190m for climate-related financing. This fund will help insurers invest in climate projects abroad while adhering to UK Solvency II requirements. Leslie Maasdorp, chief executive of British International Investment, emphasised the need for private capital to tackle climate challenges, saying: "The only chance we have of meeting the monumental funding demands of the climate emergency is to mobilise private capital at scale."

 

Insurance Times

UK investors have pulled roughly £26bn from London-listed equities so far in 2025 - the highest level on record - despite the FTSE 100 being on course for its best year since 2009.

 

Financial Times

New Novo Nordisk CEO Mike Doustdar has told the Financial Times that the Danish drugmaker has a "fantastic pipeline" after losing the battle with Pfizer to acquire obesity-focused biotech Metsera.

 

Financial Times

Volkswagen has secured enough semiconductor chips for current production, according to VW brand chief Thomas Schaefer. Speaking at an industry event, Schaefer said: “We’re secure at present,” even as other automakers face supply disruptions linked to a trade dispute involving chipmaker Nexperia. He credited lessons learned from the post-COVID chip crisis for the company’s improved preparedness. As Europe's largest automaker, VW's stability contrasts with ongoing struggles in the sector, where supply chain issues continue to hinder output for rivals.

 

Reuters

Russia will introduce a new tax on imported electronics, starting in September 2026, to raise $2.7bn over three years for its domestic electronics sector, including defence-related manufacturing. Deputy Finance Minister Alexei Sazanov emphasised that “import substitution becomes a key task for the state” amid Western sanctions that have restricted access to critical chips and hardware. The move aims to boost production of components essential for drones and AI. Initially targeting smartphones and laptops, the tax will later include their components. The move is part of broader fiscal measures, including VAT hikes and small business taxes, to offset falling energy revenues and rising military expenses.

 

Reuters

Eurotunnel, operator of the Channel Tunnel, said it has been told to expect a 200% increase in UK business rates from next year. The hike could jeopardise future investments in the UK. Eurotunnel CEO Yann Leriche said: "This unparalleled and unsustainable level of taxation makes any future investment in the UK non-viable." The company may abandon plans for a major freight terminal in east London and a direct freight service to Lille, which would add £118m to its tax bill over three years. The Valuation Office Agency said next year's liability is not yet confirmed. 

 

Daily Express

AI is to be used to tackle the rising numbers of infections that have become resistant to treatment. A collaboration between the Fleming Initiative and the pharmaceutical company GSK aims to speed the discovery of fresh antibiotics and deliver new ways of killing other threats, including deadly fungal infections. “It’s a global problem, it’s pretty indiscriminate and often described as the slow pandemic,” said Emma Walmsley, GSK’s chief executive,

 

BBC News

Financial Times