Business

The UK has taken a major step towards mainstream adoption of digital assets with the launch of GFO-X, London’s first regulated and centrally cleared cryptocurrency derivatives trading platform.

Backed by FTSE 100 asset manager M&G and authorised by the Financial Conduct Authority (FCA), GFO-X will offer institutional investors access to bitcoin index futures and options. The first trade on the new venue was scheduled for Tuesday, marking a landmark moment in the evolution of Britain’s financial markets.

The platform, which describes itself as “institutional-grade”, is partnered with clearing giant LCH — part of the London Stock Exchange Group — which will provide clearing services through its newly developed DigitalAssetClear service.

GFO-X chief executive Arnab Sen said the launch was “a further foundational step toward increased institutional digital asset derivatives trading, providing the infrastructure, central clearing, robust risk mitigation and liquidity”.

The platform has already attracted major institutional partners, including FTSE 100 bank Standard Chartered and market-makers IMC and Virtu Financial, signalling growing confidence in regulated access to the crypto market.

Often dubbed the “Wild West” of finance, cryptocurrency markets have long been viewed with caution by regulators due to their volatility and perceived exposure to financial crime. The FCA continues to warn retail investors that cryptoassets have no inherent value and should only be approached with an expectation of potentially total loss.

However, the landscape is rapidly evolving. A wave of institutional interest — from hedge funds to global banks — has driven demand for regulated trading environments. GFO-X aims to meet that demand by offering fully regulated crypto derivatives products, helping to bring much-needed transparency and oversight to the space.

Marcus Robinson, head of DigitalAssetClear at LCH, said: “It is essential that we find ways to offer regulated, segregated and trusted routes to provide customers with a diverse breadth of services. We are excited to continue working with GFO-X to offer a regulated marketplace for this asset class.”

The launch comes as the UK moves forward with plans to develop a comprehensive regulatory framework for cryptoassets. The government has set out proposals for legislation that will bring digital assets under the FCA’s supervision, as part of wider efforts to position Britain as a competitive global hub for fintech and digital finance.

The timing may also prove advantageous as global regulatory attitudes diverge. While the Biden administration in the US has taken a tougher stance on crypto, the return of Donald Trump to the presidency has signalled a potentially more crypto-friendly approach, setting the stage for increased competition among jurisdictions to attract digital asset firms.

For now, London’s financial sector has claimed an important first: a fully regulated, institutionally backed crypto derivatives exchange — a development that could help to reshape perceptions of digital assets and unlock new growth for the UK’s fintech ecosystem.

Read more:
London launches first regulated crypto derivatives platform as digital assets enter mainstream

The UK government’s ambitious immigration reforms risk harming economic growth and deepening the country’s skills crisis unless matched by a fundamental overhaul of the domestic training system, leading business groups have warned.

Following Prime Minister Sir Keir Starmer’s announcement of a “comprehensive plan” to reduce immigration, the Institute of Directors (IoD) said the proposals could worsen already critical labour shortages across key sectors.

Alex Hall-Chen, principal policy adviser for skills and employment at the IoD, said: “These plans risk damaging already fragile economic growth by further limiting employers’ ability to fill urgent skills gaps. For this strategy to work, government must deliver on its pledge to more effectively link the skills and immigration systems and incentivise employers to invest in training programmes for the domestic workforce.”

Under the new plans, migrants entering the UK on all visa types will face tougher restrictions, with Starmer pledging that overall numbers will fall. But business leaders say that without swift reforms to how domestic workers are trained, these measures could leave employers without the skilled labour they need to compete and grow.

Stephen Phipson, chief executive of Make UK, the manufacturers’ organisation, said many firms only turn to overseas recruitment because of chronic failings in the UK’s domestic training pipeline.

“The apprenticeship levy, as currently structured, has been disastrous. It has made it harder, not easier, for companies to access the training they need,” Phipson said. He called for the government’s forthcoming industrial strategy to include a clear, urgent plan to build up the UK’s technical skills base, warning that “in the face of a crisis, the response must be significant, structural and fast.”

The British Chambers of Commerce echoed these concerns. Jane Gratton, deputy director of public policy, supported the overall objective of reducing the UK’s reliance on immigration but warned against acting too quickly.

“It’s vital that the pace of change in the immigration system does not cut off access to global talent before the UK’s wider labour market problems are properly addressed,” she said. “Firms need access to the right skills — and for some, that will include hiring internationally when local recruitment fails.”

The Confederation of British Industry (CBI) has also raised red flags, particularly over further restrictions on student visas, which it says could jeopardise university finances and reinforce damaging narratives around the use of migrant workers.

“The reality for businesses is that it is more expensive and difficult to fill a vacancy with immigration than if they could hire locally or train workers,” said Rain Newton-Smith, CBI chief executive. “Labour shortages can’t be solved by training alone. With the UK’s workforce set to shrink in the coming decades as our population ages, it’s more important than ever that we support the business investment needed to underpin tech adoption and training.”

The government’s proposals are being closely watched by business and policy leaders alike. While ministers have been clear on the need to reduce migration, the consensus among industry voices is that doing so without addressing structural flaws in skills policy could weaken, rather than strengthen, the UK’s long-term economic resilience.

Read more:
Business leaders warn immigration reforms could undermine growth without urgent training reform

Wage growth in the UK has slowed to its weakest level since November, while unemployment has crept higher, as businesses brace for a series of cost pressures including tax hikes and a rise in the national minimum wage.

According to new data from the Office for National Statistics (ONS), regular pay excluding bonuses rose by 5.6% in the three months to March — down from 5.9% in the previous period and below analysts’ expectations of 5.7%. Including bonuses, total pay increased by 5.5%.

Salaries in the private and public sectors rose by 5.6% and 5.5% respectively, marking the twenty-second consecutive quarter in which wage growth outpaced inflation, which stood at 2.6%.

Meanwhile, the UK’s unemployment rate ticked up to 4.5%, from 4.4% previously. Data from HM Revenue & Customs also showed a decline of 106,000 in the number of payrolled employees compared to a year earlier, bringing the total to 30.3 million — a 0.3% annual fall.

Job vacancies continued to fall, dropping by 42,000 to 761,000 in the latest quarter — well below the peak of 1.3 million seen in early 2022. However, the economic inactivity rate — representing those neither in work nor seeking employment — edged down by 0.2 percentage points to 21.4%.

Despite the declines, some economists remain cautious about drawing firm conclusions due to concerns over falling response rates to the ONS’s labour force survey.

Liz McKeown, director of economic statistics at the ONS, acknowledged the trend: “Wage growth slowed slightly in the latest period but remains relatively strong, with public and private sectors now showing little difference. The broader picture continues to be of the labour market cooling.”

She noted the continuing decline in job vacancies and payroll employment as signs of a softening employment landscape.

The slowdown in wage growth comes as many employers boosted pay ahead of April’s 6.7% minimum wage increase. Simultaneously, the £25 billion rise in employers’ national insurance contributions, also introduced last month, has prompted many firms to curb recruitment and moderate future wage settlements.

The data will be closely scrutinised by the Bank of England’s Monetary Policy Committee (MPC), which considers wage growth and employment trends key indicators in assessing whether inflation is on track to return to the 2% target.

James Smith, developed markets economist at ING, said: “Hiring conditions are cooling, and this is very gradually putting downward pressure on wage growth. That’s good news for the Bank of England, though it will want to see a few more months of improvement before drawing any firm conclusions.”

Matt Swannell, chief economic adviser to the EY ITEM Club, echoed this caution, adding: “While it is heading in the right direction, pay growth remains significantly above the rates the Bank of England views as consistent with inflation stabilising at the 2% target.”

Last week, the MPC narrowly voted 5–4 in favour of a 0.25 percentage point rate cut, bringing the base rate down to 4.25% — its lowest in two years. While investors expect two further quarter-point cuts by the end of 2025, several committee members have signalled that any resurgence in wage growth could delay additional reductions.

Markets responded modestly to the ONS report, with sterling rising 0.23% against the dollar to $1.32, and the yield on 10-year UK government bonds climbing 2 basis points to 4.679%. The FTSE 100 held steady, reflecting a cautious but stable outlook.

With signs pointing to a cooling labour market and moderating pay growth, attention now turns to whether these trends will persist long enough to allow further loosening of monetary policy — and support a soft landing for the UK economy.

Read more:
UK wage growth slows as unemployment edges up ahead of tax and wage hikes

A combination of unseasonably sunny weather and the later timing of the Easter break fuelled a sharp increase in retail sales across the UK in April, as consumers headed outdoors and opened their wallets for home and garden improvements, new data shows.

Retail spending rose by 7% year-on-year last month, according to figures from the British Retail Consortium (BRC) and consultancy KPMG — a notable jump from the modest 1.1% increase recorded in March. While the rise was partly driven by Easter falling in April this year rather than March, underlying momentum was evident, with spending in March and April together up 4.3% compared with the same period in 2023.

Separate figures from Barclays echoed the upbeat picture. The bank, which tracks almost 40% of the UK’s credit and debit card transactions, said card spending rose 4.5% in April — the fastest growth since June 2023. The biggest lift came from the leisure sector, with pub, bar and club spending up 6.6%, the largest increase in 16 months.

The good weather also gave garden retailers a spring boost, with spending at garden centres surging 25% in April. DIY sales rose by 4%, likely bolstered by new homeowners preparing for summer renovations following a wave of property completions ahead of the end of the stamp duty holiday.

The Met Office confirmed that April 2025 was the sunniest on record, helping drive sales in both food and non-food sectors. The BRC and KPMG data shows food sales rose by 8.2% year-on-year, outperforming the three-month average growth of 3.9%, while non-food sales jumped 6.1%, also well ahead of the three-month trend.

Official data from the Office for National Statistics supports this robust picture, with retail sales up 1.6% in Q1 2025 — a clear sign that consumer activity remains resilient despite lingering economic uncertainties.

“The sunniest April on record brought with it a boost to retail sales,” said Helen Dickinson, chief executive of the BRC. “While the stronger performance was partially a result of Easter falling in April this year, the sunshine prompted strong consumer spending across the board.”

Barclays also noted that despite geopolitical concerns — particularly the ongoing uncertainty surrounding global trade and tariffs — UK consumers remain optimistic. In April, 72% of those surveyed expressed concern about the financial impact of President Trump’s tariff policies, but that anxiety was partly eased by a US-UK trade deal which reduced tariffs on metal and car exports while retaining a 10% blanket rate.

“While the world continues to grapple with unprecedented levels of trade uncertainty, UK economic sentiment has been surprisingly positive recently, supported by a resilient consumer,” said Julien Lafargue, chief market strategist at Barclays Private Bank. “The recent interest rate cut from the Bank of England, alongside improved trade clarity, should support further momentum in the months ahead.”

Lafargue cautioned, however, that despite the current uplift in spending, broader economic growth may remain subdued, particularly as the global labour market softens and economic headwinds persist internationally.

Nonetheless, April’s surge in consumer activity offers retailers a welcome reprieve, raising hopes that improving weather and falling interest rates could help sustain spending into the summer.

Read more:
Sunniest April on record lifts UK retail sales as consumers flock to pubs, DIY and gardening

I have been in the online casino space long enough to know that finding the best place to compare online casinos, especially based on payment methods, is more demanding than it should be.

Swift withdrawals, PayPal compatibility, and support of your local bank are some of the conventional methods that are readily available on the majority of platforms. So, when I recently dug into NewCasinos.com, a platform that is perceived by professional gamers to provide the most flexible payment options, I decided to put it through the test to see if it lives up to its claims.

First Impressions – Clean, Focused, and Easy to Use

When I first landed on NewCasinos.com’s homepage, I was happy with the minimalist approach and user-friendly interface. As someone who has spent some time in the online casino sphere, I deeply understand the importance of helping players cut through the noise and get what they want in time. There are no flashy banners or annoying pop-ups that constantly keep gamers distracted. Instead, the website features a streamlined directory for easy access to the best payment options.

It only took me about 30 seconds to locate the “Payment Methods” page from the homepage, as well as find the different available payment options like Skrill, Neteller, and PayPal. As someone who has visited a lot of affiliate sites, the speed and simplicity on this platform were a refreshing change.

Real-life Experience – Searching for Trustly Casinos

A couple of weeks back, I was searching for an online casino that accepted Trustly payments and could process transactions within 24 hours. Using NewCasinos.com, I was able to get a curated list of licensed online casinos that not only support deposit and withdrawal through Trustly but also process their payment swiftly!

I was able to discover new online casino operators thanks to NewCasinos.com’s detailed profile page; I could verify license details, available payment options, and bonus policies, all without needing to jump to the official website of the operator. This kind of convenience is what matters most to gamblers across the UK.

Who’s Behind the Curtain? Meet the Team at NewCasinos.com

I always love to dig into the quality of people behind any casino review site I use or recommend to friends. This is one of the best indicators of a reliable review site. NewCasinos.com is operated by Gentoo Media (previously GiG Media), a very well-respected name in iGaming, with a reputation for transparency and data-driven content.

What stood out to me was how deeply experienced their editorial team was. Many of the site’s contributors, including Alex Hussain, Leanna Madden, and Leonard Sosa, have backgrounds in gambling compliance, and online casino operations. You’ll find articles and reviews written by people who have worked behind the scenes at casinos, and former players who have now turned analysts.

I even noticed that some of their team members are certified in digital content governance, which is a rarity in this space. This type of professional alignment gives the platform a level of credibility that a lot of flashier competitors lack.

Commitment to Expertise – Not Just Another Affiliate Blog

Too many casino directories are run by people chasing commission, and this is evident in how they put out content to consumers. What’s different about NewCasinos.com is that their expertise runs through the DNA of the site.

In one of their behind-the-scenes blog posts, I learned that their review criteria are built around regulatory benchmarks, payment reliability, and user satisfaction, not just bonuses or flashy interfaces. Each casino is vetted using a multi-point checklist developed by iGaming veterans, not outsourced writers or AI tools.

This explains the consistency and depth of their reviews. From licensing verification to detailed banking terms, you can tell it’s written by people who’ve been on both sides of the casino equation.

Data Snapshot – Is it Popular Among Players?

Let’s talk numbers; according to SimilarWeb data (April 2025), NewCasinos.com draws over 150,000 monthly visitors, with a strong majority coming from tier-1 countries like the UK, Canada, and parts of Western Europe.

This is a solid metric as it indicates organic trust and engagement. More importantly, it shows the site has staying power. Unlike some fly-by-night casino directories that vanish after six months, NewCasinos.com has built a long-term brand that will stand the test of time and offer lasting, valuable service to gamblers of all categories who want flexible payment options.

Casino Listings – Are Payment Options Truly Diverse?

I did not waste any time running a check on more than 30 casinos that were listed on the platform, specifically analysing the diversity of their payment options.

Here’s what I found.

High Variety Across the Board

About 90% of these casinos support e-wallet payment options such as Skrill, EcoPayz, and Neteller
60% of the online casinos accept deposits and withdrawals through digital currencies such as Bitcoin, Ethereum, and Litecoin
Payment options like PayPal took about 40%, especially in UK-facing brands
25% listed local bank transfer options (particularly in European markets)
Many included niche options like Paysafecard, Apple Pay, and Google Pay

When comparing this information with some other directories where payment data is vague or missing altogether, it was easy to acknowledge that NewCasinos.com shines in this department.

Articles and Guides – Helpful or Just Filler?

I have read enough recycled affiliate content to know when I’m looking at fluff. So, I dug into NewCasinos.com’s resource section and, to be honest? I was very impressed! This website offers helpful guides and content on various topics, including:

How different payment methods work
Withdrawal time breakdowns by casino
Troubleshooting failed deposits
Payment method security comparisons

One standout was their 2025 Guide to Fast Withdrawal Casinos. It included updated timelines, casino-specific payout speeds, and even player-sourced reviews. This isn’t just helpful, it is expert-level content and is helpful to both newbies and professional gamers.

Customer Support – Do They Respond?

Out of curiosity, I reached out to NewCasinos.com via their contact form with a simple question, “Which casino currently offers the most diverse payment options?” I received a personalised reply within six hours listing three casinos and briefly summarising their pros and cons. This platform also offered to notify me when new casinos were added. For me, that’s next-level support for a free affiliate site.

I like that players can reach out to customer support through the feedback form provided, email, and phone call. This diversity of options makes it convenient to relay complaints and inquiries about any service.

Licensing and Safety Checks

Each casino page indicates the licensing authority that backs up each operator. Popular names in the industry are Malta Gaming Authority (MGA), Curacao, UK Gambling Commission (UKGC), etc. Even better, this website does not promote unlicensed casinos—something I have seen too often in shady directories. It is interesting that they also include an RTP summary, deposit/withdrawal limits, and KYC processes for each operator. For players who value transparency (like I do), this is pure gold.

How It Compares to Other Casino Directories

To be fair, this online gambling platform is not the only directory out there that offers value. However, when it boils down to filtering the best payment methods, this website stands out, and here is how it stacks up against industry competitors:

Feature
NewCasinos.com
AskGamblers
CasinoGuru

Staff Expertise
(Documented)

Response Time
(<6 hours)
(No reply)
(48 hours)

Licensing Info

Resource Quality

NewCasinos.com may not be the biggest name out there, but in terms of usability and depth of payment options? It has an edge over other sites.

Suggestions for Improvement

There is no perfect platform out there, but if I had to nitpick, here are a few suggestions to make NewCasinos.com better in serving its audience

Adding real-time sorting by payout speed
More mobile wallet options (Venmo, Zelle)
Push notifications for new casino additions with specific payment methods

These are quality features that could elevate the user experience even more.

Is it the Best Place to Find Payment-Variety Casinos?

From my extensive testing and experience, yes, NewCasinos.com is one of the best places online to find casinos with a wide range of payment options. Its combination of transparency, usability, staff expertise, and detailed payment filtering makes it a genuine standout. Whether you’re a seasoned gambler, a casual PayPal user, or someone just looking for fast cashouts, this platform delivers!

It’s not bloated, it’s not spammy, and it’s clearly built by people who understand what players need. If payment flexibility is a top priority for you—and let’s be honest, it should be—then NewCasinos.com is worth bookmarking.

Read more:
Is NewCasinos.com the Best Place to Find Casinos With a Wide Range of Payment Options?

Solitaire.io, the innovative online card game platform founded by Welsh creative entrepreneur Gaz Thomas, is launching a bold new physical product: Mosh Idols Punk Rock Playing Cards.

Read more:
Solitaire.io launches Kickstarter campaign for “Mosh Idols Punk Rock playing cards” featuring XR Technology

UK businesses are cutting back on hiring plans amid a surge in labour costs and growing economic uncertainty, with employment confidence falling to its lowest level in over a decade outside of the pandemic, new research reveals.

According to the Chartered Institute of Personnel and Development (CIPD), the net hiring outlook — the difference between employers expecting to increase staffing and those anticipating cuts — has fallen to just 8, the weakest since 2014 excluding pandemic years. The figure stood at 13 last quarter.

The slowdown is most evident among large private-sector companies and retailers, though public-sector hiring — particularly in education — is also under strain. Just 32 per cent of private-sector firms said they expected to add staff over the next three months, while 24 per cent of all employers surveyed said they were planning redundancies.

Separate figures from KPMG and the Recruitment and Employment Confederation (REC) paint a similarly downbeat picture. Their latest labour market report for April shows declining demand for both permanent and temporary staff, alongside a rising number of jobseekers. Recruitment agencies reported an uptick in candidate supply, driven by restructuring, redundancies, and an overall drop in new hiring.

The south of England recorded the sharpest drop in permanent placements, while London fared slightly better with the softest decline. Engineering was the only sector to see an increase in demand for permanent staff. In contrast, vacancies fell sharply in nursing, retail, and hospitality — with temporary staff demand down across all ten tracked industries.

While minimum and living wage rises in April pushed up starting salaries — particularly for temporary roles, which saw their fastest pay increase in nearly a year — overall pay growth remains below historical averages.

Neil Carberry, chief executive of the REC, said: “Given the bow wave of costs firms faced in April, maintaining the gradual improvement in numbers we have seen over the past few months is on the good end of our expectations.”

However, broader signals remain worrying. Accountancy firm BDO reports that employment confidence has reached a 12-year low, with a combination of wage pressures, higher National Insurance contributions, and global instability — particularly driven by President Trump’s tariff measures — denting business sentiment.

Vacancies fell below pre-pandemic levels for the first time in four years, and payroll estimates show a drop of 78,000 employees in March alone. BDO’s “optimism index”, tracking confidence across key sectors like manufacturing and services, fell to 91.36 in April — its lowest since January 2021, during the UK’s third national lockdown.

Business output has also stalled. BDO’s output index dropped from 98.23 to 96.9, its sharpest monthly fall since October 2023 when the Middle East conflict disrupted global markets.

Taken together, the data signals a cooling labour market and subdued business outlook, with rising operating costs and geopolitical pressures weighing heavily on UK firms’ plans for the months ahead.

Read more:
Employers slash hiring plans as wage costs rise and economic uncertainty deepens

Employers across the UK are scaling back hiring plans as rising labour costs and economic volatility take their toll, with new data showing workforce expansion expectations at their weakest level in a decade outside the pandemic.

The latest Labour Market Outlook from the Chartered Institute of Personnel and Development (CIPD) reveals that the net employment intention — the difference between employers planning to hire and those expecting to cut jobs — has dropped to just 8. That’s down from 13 in the previous quarter and the lowest figure recorded since the CIPD began tracking the measure in 2014, excluding the exceptional lows of the Covid-19 crisis.

The drop in hiring optimism is particularly stark among large private-sector employers and retailers. Public-sector hiring remains sluggish too, especially in the education sector. Only 32 per cent of private-sector employers surveyed said they planned to increase staff over the next three months, while nearly a quarter (24 per cent) said they were preparing for redundancies.

A parallel report from KPMG and the Recruitment and Employment Confederation (REC) reinforces the picture of a cooling labour market. April saw a continued decline in demand for both permanent and temporary staff, while the number of jobseekers rose sharply due to restructuring and layoffs.

The south of England experienced the most pronounced drop in permanent appointments, with London recording the smallest decline. Engineering was the only sector to buck the trend, while vacancies fell steeply in nursing, retail, and hospitality. Temporary roles were down across all ten tracked sectors, led by retail.

While starting salaries increased — thanks to the April rise in national minimum and living wages — overall pay growth remains below historical averages. Temporary pay rose at its fastest pace in nearly a year, although wage inflation remains modest compared to longer-term norms.

Neil Carberry, chief executive of the REC, described the findings as mixed but not entirely unexpected. “Given the bow wave of costs firms faced in April, maintaining the gradual improvement in numbers we have seen over the past few months is on the good end of our expectations,” he said.

However, business sentiment has taken a deeper hit. According to new research from accountancy firm BDO, UK employment has slumped to a 12-year low, fuelled by the dual impact of higher wages and increased national insurance contributions. Vacancies have now fallen below pre-pandemic levels for the first time in four years, and HMRC estimates indicate a loss of 78,000 payroll employees in March alone.

Global factors are also weighing heavily on business confidence. BDO’s optimism index — which gauges sentiment across the UK’s manufacturing and services sectors — dropped to 91.36 in April, the lowest level since the third national lockdown in January 2021.

Business output has also stalled. The firm’s output index fell from 98.23 to 96.9 in April, marking the sharpest decline since October 2023, when tensions in the Middle East intensified.

Analysts warn that if labour market activity continues to cool, government and industry may need to re-evaluate the balance between wage policy, inflation control, and business competitiveness. For now, the outlook for UK hiring remains uncertain, with employers cautious amid mounting cost pressures and an increasingly fragile global economic backdrop.

Read more:
UK hiring confidence hits 10-year low amid wage pressures and economic uncertainty

A new wave of interest in “Dutch-style” pension schemes is sweeping through UK employers, with more than 200 companies expressing a desire to join a pioneering multi-employer collective defined contribution (CDC) scheme that could significantly boost workers’ retirement incomes.

The pensions administrator TPT announced on May 8 that it is pressing ahead with launching the UK’s first multi-employer CDC scheme, aiming to gain regulatory approval by 2026 and begin collecting contributions by the first half of 2027.

CDC schemes, widely used in the Netherlands, are pitched as a middle ground between generous but costly defined benefit (DB) schemes and more common defined contribution (DC) pensions. TPT claims that CDCs could generate pensions that are 20 to 50 per cent larger than standard DC schemes — all for the same contribution levels and risk profile.

Andy O’Regan, chief client strategy officer at TPT, said the organisation had spoken with over 200 employers who are “interested in pursuing this”, representing a potential membership base far exceeding the 3,000–6,000 individuals required to make the scheme viable.

“We’re confident we can hit the critical mass needed,” said O’Regan, adding that TPT is also exploring the development of single-employer CDC schemes for large corporates.

The growing enthusiasm follows the example set by Royal Mail, which became the first UK employer to roll out a single-employer CDC scheme in 2023. The move played a key role in settling a long-running industrial dispute, and the model has since been hailed by many in the pensions industry as a breakthrough.

While proponents, including actuarial giant Aon, have described CDCs as “one of the greatest innovations in UK pensions in generations”, critics such as independent consultant John Ralfe warn of flaws in the underlying business model, particularly around the lack of individual guarantees.

Unlike conventional DC schemes, where individual pots are de-risked in the lead-up to retirement, CDC schemes pool assets and share risk across generations. This allows them to remain invested in growth-oriented assets such as equities for longer, theoretically delivering stronger long-term returns. However, CDC members receive “target pensions” rather than guaranteed incomes.

The Department for Work and Pensions is due to lay down formal regulations for CDCs this September. Torsten Bell, the pensions minister, welcomed TPT’s initiative, calling the schemes “an important, innovative addition to the UK pensions landscape”.

TPT, based in Leeds, administers £11.6 billion in assets across multi-employer schemes and is effectively owned by its 110,000 DB members. Its clients include around 2,000 employers and 470,000 members in sectors ranging from housing associations to independent schools and charities.

The Church of England is also reportedly exploring the possibility of launching its own multi-employer CDC scheme to serve its diverse network of organisations.

As the conversation around pension adequacy intensifies in the UK, CDC schemes may offer a compelling new route for employers looking to improve retirement outcomes without bearing the full financial burden of DB-style guarantees.

Read more:
Employers show strong interest in ‘Dutch-style’ CDC pension schemes promising higher retirement payouts

Skims, the $4 billion shapewear and swimwear brand co-founded by Kim Kardashian, is set to open its first standalone UK store next summer on London’s Regent Street — one of the capital’s most prestigious shopping destinations.

The Los Angeles-based label will take over 245–247 Regent Street, the former home of Ted Baker, which has stood empty since the fashion retailer’s collapse and subsequent closure of its UK stores in 2023.

Skims, which already sells through premium UK stockists including Selfridges and Harrods, has agreed a ten-year lease with The Crown Estate — a clear vote of confidence in the future of physical retail in the UK.

Jens Grede, Skims’ chief executive and co-founder alongside Kardashian and his wife Emma, described the move as “a pivotal step in our global expansion”. He added: “This iconic location allows us to forge a deeper, more personal connection with our UK customers, delivering the full Skims experience in a world-class retail destination with authenticity and vision at the heart of our brand.”

The London flagship will offer the full Skims range, which has resonated strongly with Kardashian’s global fanbase and fashion-forward consumers. The brand hit $750 million in revenue in 2023 and was valued at $4 billion following a successful funding round.

The business — which has hinted at an IPO in the near future — has grown rapidly since launching in 2019, opening permanent locations in the US and signalling plans for a broader European rollout. Grede told The Times last year that London, Paris, Milan and Berlin were all being considered for standalone Skims boutiques, with the UK already representing its largest international market.

Kim Kardashian, who first rose to fame with Keeping Up With the Kardashians, was named a billionaire by Forbes in 2021 thanks to a portfolio that includes Skims, KKW Beauty, property ventures and brand endorsements.

Laura Thursfield, retail leasing director at The Crown Estate, welcomed the addition to the area, noting: “Skims’ arrival reinforces Regent Street’s position as London’s premier lifestyle destination, bringing global fashion leaders to the heart of the West End.”

With Skims’ London launch on the horizon, the brand’s UK fans can expect a fully immersive retail experience — and a new high-profile player on Britain’s most iconic shopping street.

Read more:
Kim Kardashian’s $4bn Skims brand set to open first UK store on London’s Regent Street