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Spotlight Feature: Dr. Chris Endfinger – Healing with Hands, Heart, and Faith
Business

Spotlight Feature: Dr. Chris Endfinger – Healing with Hands, Heart, and Faith

by May 29, 2025

Dr. Chris Endfinger has spent nearly 30 years in emergency rooms across Alabama. He’s helped thousands of people through their worst moments—car crashes, strokes, broken bones, and more. But if you ask him what matters most, he won’t just talk about medicine.

“I’ve come to realize that healing isn’t just about fixing bodies. It’s about being present with people when they’re scared, hurting, or confused,” Chris says.

Chris didn’t always know that. He got into medicine because he wanted to help people. Over time, the job showed him something deeper—something he calls “a sacred space” between doctor and patient. That space, he says, is where healing really begins.

A Life Built on Hard Work

Chris Endfinger was raised in a family that valued service and hard work. His mom was a hospital social worker. His dad owned a small machine parts business.

“I saw both sides growing up,” Chris Endfinger says. “My mom showed me compassion. My dad showed me discipline. Those lessons stayed with me.”

He went to Gulf Breeze High School in Florida, then studied Biochemistry at David Lipscomb University. He also minored in Math and French. After that, he earned his medical degree from the University of Alabama at Birmingham (UAB) in 1993.

During his Family Practice residency at UAB, Chris was named Intern of the Year. He later served as Chief Resident.

“I didn’t plan to end up in emergency medicine,” he says. “But once I was there, I knew it was the right fit. You don’t know what’s coming through the door next. It forces you to stay sharp.”

28 Years on the Front Lines

Chris has worked as an Emergency Room (ER) physician for 28 years. He’s seen it all—from small injuries to life-threatening trauma. He served as ER Director at Gadsden Regional Hospital from 2004 to 2007.

He says the ER has changed over the years.

“The medicine has gotten better. The technology is faster. But we’re also seeing more people come in with mental health needs, or people who don’t have access to care elsewhere.”

Despite the changes, Chris says one thing has stayed the same: the human need for connection.

“People come to the ER on one of the worst days of their lives. Sometimes they just need someone to see them—to really see them.”

Finding Purpose in Faith

Chris is quick to tell you he’s not perfect. But his faith has been his compass throughout his career.

“When I was younger, I thought faith was about having all the answers,” he says. “Now I think it’s more about trust—trusting that the work matters, even when you don’t see the outcome.”

He’s a member of CrossBridge Church of Christ and has been on medical mission trips to Honduras.

“Serving in Honduras reminded me why I became a doctor. We had fewer tools, but sometimes the impact was even greater. It was just about showing up, offering care, and treating people with dignity.”

He says that work changed his outlook.

“I started to see medicine as more than a job. It became a calling.”

Beyond the ER

Chris doesn’t just live in the hospital. He’s been married to his wife, Amanda, for 33 years. They have two children—Grace, a U.S. Army captain and West Point graduate, and Connor, a UAB business graduate working in sales. He’s also a proud grandfather to a little boy named James.

Outside of work, Chris enjoys playing guitar, reading, and going to the gym. He says staying healthy outside the hospital makes him a better doctor inside it.

“You can’t pour from an empty cup. You’ve got to take care of yourself too.”

Leading with Humility

Chris’s leadership style is quiet but strong. As an ER Director, he believed in leading by example.

“I didn’t ask anyone to do something I wouldn’t do myself. You gain trust that way.”

He also learned to speak up—even when it’s hard.

Early in his career, he stayed quiet during a disagreement over a patient’s care plan. The outcome wasn’t good.

“I learned that silence can be just as harmful as action. Since then, I’ve always tried to speak up, especially when it matters most.”

Medicine and Meaning

Chris says the ER can be a lonely place. But it’s also where he finds meaning.

“Sometimes the medicine does everything it can, and it’s not enough. In those moments, words matter. Sometimes you offer comfort. Sometimes you offer prayer. Sometimes silence says the most.”

He says healing doesn’t always mean curing.

“Sometimes healing is just being with someone in their pain, offering peace when there are no easy answers.”

He sees every patient interaction as a chance to do something meaningful.

“It might not seem big at the time. But those small moments—they matter.”

Looking Forward

Chris recently launched a personal website to share his stories and reflections on medicine, faith, and life. He hopes it can be a resource for young doctors, patients, and anyone looking for a deeper understanding of healthcare.

He says his goal isn’t to be famous or flashy. He just wants to be honest.

“I’ve made mistakes. I’ve had wins. I’ve seen miracles and heartbreak. I want to share what I’ve learned—not as an expert, but as someone who’s still learning too.”

At the end of the day, Chris sees his work as part of something bigger.

“The ER is where my skills meet the world’s needs. I’m not just treating bodies. I’m showing up with a faithful heart and open hands. That’s the kind of doctor I try to be.”

And after nearly 30 years, he’s still showing up—one patient, one shift, one small act of care at a time.

Read more:
Spotlight Feature: Dr. Chris Endfinger – Healing with Hands, Heart, and Faith

May 29, 2025
UK Gambling Industry Concerned Over Stricter Regulation and Higher Taxes
Business

UK Gambling Industry Concerned Over Stricter Regulation and Higher Taxes

by May 29, 2025

A worrying time could lie ahead for the UK gambling industry. Recent revenue figures have again been impressive, especially for the online sector. However, stricter regulation is already being put in place and now there are fears of higher tax rates being imposed.

Earlier this year, the Gambling Minister Baroness Twycross spoke at the AGM of the Betting and Gaming Council (BGC). One of her comments really struck home as the politician spoke about “the value the UK gambling industry sector brings. Not just in tax receipts and jobs created.”  While the Baroness went on to speak about gambling being “a leisure activity,” the audience were still digesting the mention of tax receipts. 

The BGC states that their members contribute £6.8 billion a year to the UK economy and that sees £4 billion being given in tax to the Treasury. However, the fear is that the tax figure is going to increase in the future.

Currently, there is a three-level tax system for the UK gambling industry. There’s a Remote Gaming Duty (RGD) which sees operator’s paying 21% of their profit. In addition, there is also a General Betting Duty (GBD) which is 15% of profit and finally, the Pool Betting Duty (PBD) which sees a payment of 15% of total net stake receipts being paid.

Now the Labour government is now planning to reform the remote gambling tax system with a single Remote Betting & Gaming Duty being created. The concern of the UK gambling industry is that all three verticals could see a 21% duty when the changes come into force.

If that was to happen, it’s something that tax lawyer Zoe Feller believes could see the gambling industry become “economically unviable.” At present, a consultation period is taking place and the tax lawyer believes it is vital that the industry let the government know just how they feel about the proposed changes. “The more data the government collects on the conduct, the more likely it is to result in a tax that actually functions and works,” said Feller.

Grianne Hurst is the CEO of the BGC and has been scathing of any possible tax rise. It’s something she believes would be “utterly self-defeating for the Government.”  It would also make “a mockery” of the desire for there to be growth in the UK economy. The National Insurance rise seen in last autumn’s budget has already hit companies.

Writing on the BGC website, the CEO states that if taxes were to rise, they would not see the Treasury receive additional funds. Hurst added that the stricter regulation that has been introduced has cost the industry “over a billion pounds in lost revenue.”

To be able to legally operate in this country, companies are required to be licensed by the UK Gambling Commission (UKGC) who set the regulations that those licensed must follow. Failure to do so can and does lead to licensees being handed regulatory fees. Recently, Spreadex were fined £2 million and TGP Europe £3.3 million. The latter opted to leave the UK market rather than pay their fine.

There are a large number of unlicensed and unregulated online sites that operate on what is called the black market. Such sites offer lower levels of customer protection and don’t pay the Treasury any tax revenue. 

They also take money away from licensed companies and the BGC estimated that this year’s Grand National saw £9.4 million bet on the black market. Their message to the government is that they “must listen to business and sport and not drive growth, investment and jobs out of one of the UK’s few global business success stories.”

That’s what they will be telling the government during the consultation process that runs until July 21. It’s expected that this year’s autumn budget will see a formal announcement made over what is going to happen.

Online gambling gross gambling yield for the first three months of this year was £1.45 billion. That was 7% higher than the total recorded in the same period last year. Of that total, £689 million came from online slot games. 

There have now been new maximum stake limits introduced. For players aged 18-24, they will not be able to stake more than £2 a spin. There is now a £5 maximum stake for older players. The measures have been introduced to protect those who play the enjoyable but considered highly addictive online slots.

Also a  mandatory levy is being imposed on the industry with the aim of raising £100 million a year. Monies received will go towards funding research into gambling harm and helping their treatment. This combined with the new maximum stakes and possibly higher tax rates are not good news for the UK gambling industry.

A worrying time could lie ahead for the UK gambling industry. Recent revenue figures have again been impressive, especially for the online sector. However, stricter regulation is already being put in place and now there are fears of higher tax rates being imposed.

Earlier this year, the Gambling Minister Baroness Twycross spoke at the AGM of the Betting and Gaming Council (BGC). One of her comments really struck home as the politician spoke about “the value this sector brings. Not just in tax receipts and jobs created.”  While the Baroness went on to speak about gambling being “a leisure activity,” the audience were still digesting the mention of tax receipts. 

The BGC states that their members contribute £6.8 billion a year to the UK economy and that sees £4 billion being given in tax to the Treasury. However, the fear is that the tax figure is going to increase in the future.

Currently, there is a three-level tax system for the UK gambling industry. There’s a Remote Gaming Duty (RGD) which sees operator’s paying 21% of their profit. In addition, there is also a General Betting Duty (GBD) which is 15% of profit and finally, the Pool Betting Duty (PBD) which sees a payment of 15% of total net stake receipts being paid.

Now the Labour government is now planning to reform the remote gambling tax system with a single Remote Betting & Gaming Duty being created. The concern of the UK gambling industry is that all three verticals could see a 21% duty when the changes come into force.

If that was to happen, it’s something that tax lawyer Zoe Feller believes could see the gambling industry become “economically unviable.” At present, a consultation period is taking place and the tax lawyer believes it is vital that the industry let the government know just how they feel about the proposed changes. “The more data the government collects on the conduct, the more likely it is to result in a tax that actually functions and works,” said Feller.

Grianne Hurst is the CEO of the BGC and has been scathing of any possible tax rise. It’s something she believes would be “utterly self-defeating for the Government.”  It would also make “a mockery” of the desire for there to be growth in the UK economy. The National Insurance rise seen in last autumn’s budget has already hit companies.

Writing on the BGC website, the CEO states that if taxes were to rise, they would not see the Treasury receive additional funds. Hurst added that the stricter regulation that has been introduced has cost the industry “over a billion pounds in lost revenue.”

To be able to legally operate in this country, companies are required to be licensed by the UK Gambling Commission (UKGC) who set the regulations that those licensed must follow. Failure to do so can and does lead to licensees being handed regulatory fees. Recently, Spreadex were fined £2 million and TGP Europe £3.3 million. The latter opted to leave the UK market rather than pay their fine.

There are a large number of unlicensed and unregulated online sites that operate on what is called the black market. Such sites offer lower levels of customer protection and don’t pay the Treasury any tax revenue. 

They also take money away from licensed companies and the BGC estimated that this year’s Grand National saw £9.4 million bet on the black market. Their message to the government is that they “must listen to business and sport and not drive growth, investment and jobs out of one of the UK’s few global business success stories.”

That’s what they will be telling the government during the consultation process that runs until July 21. It’s expected that this year’s autumn budget will see a formal announcement made over what is going to happen.

Online gambling gross gambling yield for the first three months of this year was £1.45 billion. That was 7% higher than the total recorded in the same period last year. Of that total, £689 million came from online slot games. 

There have now been new maximum stake limits introduced. For players aged 18-24, they will not be able to stake more than £2 a spin. There is now a £5 maximum stake for older players. The measures have been introduced to protect those who play the enjoyable but considered highly addictive online slots.

Also a  mandatory levy is being imposed on the industry with the aim of raising £100 million a year. Monies received will go towards funding research into gambling harm and helping their treatment. This combined with the new maximum stakes and possibly higher tax rates are not good news for the UK gambling industry.

Read more:
UK Gambling Industry Concerned Over Stricter Regulation and Higher Taxes

May 29, 2025
Springbok Casino Review 2025: Is This Still South Africa’s Most Trusted Online Casino?
Business

Springbok Casino Review 2025: Is This Still South Africa’s Most Trusted Online Casino?

by May 29, 2025

Springbok Casino has steadily established itself as a key player in the South African gambling market and beyond, developing a strong reputation since it began operating. But does it actually meet the expectations in 2025?

The casino’s interface is user-friendly, featuring games organized into ideal categories for easier exploration. Furthermore, the variety of games is impressive, featuring well-known genres like slots, table games, and video poker, among others. To gain a complete understanding of this popular South African online casino, read our full 2025 Springbok Casino review here and discover if it truly offers the exceptional gaming journey you are looking for.

Games

Springbok Casino has a wide variety of over 300 online games (most available also on your phone/tablet), making it perfect for South African players. You can play slots, table games, poker, or even games that are more laid-back.

Players who enjoy slots will feel perfectly at ease. The games are more than just simple. They feature interesting themes and use updated graphics. Engage with slot games featuring wilds, multipliers, free spins, and random jackpots, and your winning percentage could appear quite remarkable by day’s end.

If you are hoping for traditional table games, you will enjoy roulette, blackjack, craps, and baccarat. The platform is also perfect for video poker fans, featuring various versions to accommodate different play styles. The blending of luck and technique in these games means both casual and professional gamers may enjoy them.

If you are in the mood for something different, Springbok has keno, bingo, and scratch cards available. Those looking for the jackpot can maximize their chances in the progressive area. The prizes in these competitions can rise to enormous amounts. To participate in the grand prize draw, you must choose the maximum stake on each attempt.

Offers and Promotions

Springbok Casino focuses on rewarding its players, both new and regular. It all begins with a R250 no-deposit offer. All you need to do is sign up and enter the coupon code TEST-SPRINGBOK in the “Redeem Coupon” area. You can withdraw as much as R500 from your bonus winnings, providing a risk-free method to begin.

The welcome package extends beyond that. Springbok Casino provides new users a three-segment welcome bonus totaling R11,500. If you use the code SPRINGBOK100 when you make your initial deposit, you can expect a 100% match up to R1500. For your second and third deposits, you can get 50% up to R5000 using the code SPRINGBOK50.

Regular players enjoy a 300% bonus up to R9000 using the code SPRINGBOK300 on any deposit. Springbok also supports you with a 25% cashback deal on deposits placed without any ongoing bonus. The highest cashback you can obtain is R3,000, implying you need to invest an R12,000 deposit. However, you need to reach out to customer support to redeem this offer, and deposit bonuses qualify for cashback. The prize comes with a 10x playthrough condition on slots, keno, bongo, and scratch cards. and no limit on cashing out. Furthermore, to request cashback, your balance must be under R50. The offer is valid for 60 days.

Each month, the first 77 players have a short time to use the 100% Lucky 7 Bonus and win up to R777 in bonus cash. Keep looking at your emails and the casino’s message center on the 7th day of every month to take part in this limited offer.

Springbok Casino offers its players the opportunity to earn Comp Points that help them stay involved. You receive 1 comp point each time you bet R10, and when you collect 100 points, you can exchange them for R1 of cash.

Springbok runs daily slot tournaments and freerolls for those who want to compete and the prizes can differ. You can find them on the downloadable casino software and use them to compete with other players for rewards.

Banking

The casino’s banking system is specially made for South African players. Since the South African Rand is the only currency on the site, you do not need to convert your money, and your transactions stay easy to understand.

There are several instant methods you can choose for making deposits. Most online casinos offer Visa and Mastercard as traditional cards, meaning you can deposit a minimum of R150 instantly. With EasyEFT, you can pay with confidence from your South African bank account without the need to register or use a credit card. You can access it quickly, it’s easy to use, and the minimum amount needed is only R25.

In addition, Springbok Casino accepts Bitcoin for anyone who would rather use this modern payment method. Any deposits you make are processed on the spot, and it usually takes between two and three days for withdrawals. The minimum you can deposit is R250, while the minimum amount to withdraw is R1000. For lovers of e-wallets, using EcoPayz is an easy decision because it allows for swift and secure transfers, from a minimum of R25 in deposits and R500 for withdrawals.

Alternative local options consist of Secure Instant Deposit (SID), which directly links to your bank’s online platform. SID deposits are processed immediately and do not require a credit card. It’s an online platform that enables instant payments directly from your bank account, making it one of the easiest methods to finance your casino wallet.

Springbok Casino prioritizes player safety during withdrawals by implementing account verification. You will need to provide some documents before you can make your first withdrawal. This guarantees that your earnings are delivered to the right individual and aids in preventing fraud.

Withdrawal durations differ based on the method you select. Although Bitcoin, EcoPayz, and SID usually complete payouts in 48 to 72 hours, Wire Transfers require more time, up to 20 business days, and involve an R200 charge with a R1500 minimum withdrawal.

Mobile Gaming

Springbok Casino allows you to enjoy all the casino features right from your phone. Whether using iPhone, iPad, Android, Blackberry, or Windows, gaming can be effortless at any time or place. There is a great selection of popular games on Springbok Mobile, and new options are introduced frequently for variety.

Users of Android have their own Springbok Casino App, which launched in 2018. You can enjoy playing without needing to download anything. With Instant Play technology, all mobile games operate seamlessly in your browser without consuming your phone’s storage. From slot machines to table games such as roulette, blackjack, and poker, you’ll discover all you require for top-notch entertainment while on the move.

Players using the Springbok mobile platform enjoy all the same promotions, bonus options, and secure ways to make payments as on the desktop site.

Is Springbok Still Worth It in 2025?

Springbok Casino is an excellent choice for South Africans interested in a casino designed for their local preferences. Thanks to its reputation, customer support, use of ZAR and Bitcoin, and generous bonuses, even more players keep coming back. It would be great to have additional currencies, live dealer games, and possibly even more languages. In general, we recommend Springbok Casino, and players should begin their experience without delay.

Read more:
Springbok Casino Review 2025: Is This Still South Africa’s Most Trusted Online Casino?

May 29, 2025
AI architecture scale-up NavLive scoops £4m of funding to transform construction industry
Business

AI architecture scale-up NavLive scoops £4m of funding to transform construction industry

by May 29, 2025

NavLive, which has newly developed an AI-powered, handheld scanning tool offering architects and construction professionals the ability to create high precision building site scans in real time, launches today with £3.3m in Seed funding.

The round was led by deep tech investor OSE, with participation from SOSV, Oxford Capital Partners, Clearance Venture Partners, AE Works, Britbots, Oxford Innovation Finance, as well as a c. £700K grant from Innovate UK awarded last year.

Developed by academics in robotics research at the University of Oxford, NavLive‘s cutting edge handheld LiDAR scanner combined with edge AI processing, allows users to scan all buildings, generating precise site drawings in real time.

NavLive’s scanner helps architects, developers, and construction firms capture highly detailed, accurate building site drawings with instant 2D/3D building models, RICS-grade 1:100 surveys, and direct Scan-to-BIM integration. This eliminates the need for third party surveyors, and integrates with all leading architecture software.

The team has grown to 15 and operates out of offices in London and Oxford. CEO Chris Davison is a seasoned entrepreneur who previously founded one of Southeast Asia’s largest challenger banks and brings extensive experience in venture capital and company scaling. CTO Dr. David Wisth has a PhD in Computer Vision, SLAM, Robotics and is a leading expert in 3D mapping and artificial intelligence, and COO and CFO Vikram Negi is a veteran finance executive with a strong track record of building and scaling venture-backed companies across Europe and Southeast Asia.

NavLive has been used extensively across major construction projects by leading AEC firms, including Jacobs, AtkinsRealis and Mace. NavLive has also been deployed for both nuclear and defense applications, including with the UK Atomic Energy Authority.

Chris Davison, CEO, NavLive said “For too long architects, engineers and construction professionals have been stuck with complex, slow, expensive, and error-prone surveys. Our AI-powered scanning solution delivers real-time, high-fidelity 2D and 3D scans that no other product on the market can match. We are building the underlying record of truth for spatial data across the entire lifecycle of a building, transforming how the AEC industry works.”

Read more:
AI architecture scale-up NavLive scoops £4m of funding to transform construction industry

May 29, 2025
Markets rally as US court blocks Trump tariffs, sparking hopes of trade policy reset
Business

Markets rally as US court blocks Trump tariffs, sparking hopes of trade policy reset

by May 29, 2025

Global stock markets jumped and the dollar strengthened after a major US court ruling blocked President Trump’s sweeping new tariffs, throwing his trade strategy into legal turmoil and easing investor concerns over further economic disruption.

The FTSE 100 rose 0.5 per cent in early trading before paring gains to close flat, while Germany’s DAX gained 0.8 per cent and France’s CAC 40 added 1 per cent. In Asia, Japan’s Nikkei surged 1.88 per cent and China’s SSE Composite rose 0.7 per cent. US stock futures also pointed to a stronger open on Wall Street.

The rally came after the Court of International Trade in Manhattan ruled that Trump had exceeded his executive authority by unilaterally imposing tariffs on countries with large trade surpluses with the US. The decision temporarily halts what Trump had branded as “Liberation Day” tariffs — sweeping import duties aimed at redrawing America’s trade relationships.

The White House immediately vowed to appeal the decision, which could ultimately be escalated to the Supreme Court. However, for now, the ruling casts serious doubt over Trump’s ability to deliver on his hardline trade pledges and undercuts the administration’s plans to rush through bilateral deals during a self-imposed 90-day pause in new tariffs.

“This throws the entire strategy into disarray,” said Paul Ashworth, chief North America economist at Capital Economics. “Other countries will now be emboldened to stall negotiations and wait to see if a higher court upholds the ruling.”

Alec Phillips of Goldman Sachs described the ruling as a “temporary setback” but warned that Trump could look for other avenues to impose economic penalties, including alternative forms of taxation.

Despite the uncertainty, markets took the ruling as a sign that the most extreme tariff measures may not materialise. US government bond yields rose, with 10-year Treasury yields up 4 basis points to 4.52 per cent, as traders dialled back expectations for near-term interest rate cuts. Gold slipped slightly by 0.12 per cent to $3,283 an ounce as investors stepped away from safe-haven assets.

Currency markets also reacted, with the dollar climbing on expectations that a rollback in tariffs could ease inflationary pressures. Yunosuke Ikeda, head of macro research at Nomura in Tokyo, said: “Trump’s tariffs have been adding to stagflationary risks. If those are reversed, it would be a clear positive for the dollar and help restore investor confidence in the US outlook.”

Minutes from the Federal Reserve’s latest meeting, released yesterday, highlighted growing concern among central bank officials that Trump’s tariff policies could entrench inflation. “Almost all participants commented on the risk that inflation could prove to be more persistent than expected,” the minutes noted, reinforcing market caution.

As a result, traders have pushed back expectations for a Fed rate cut, with the likelihood of a July move now down to 22 per cent, while the probability of a September cut has fallen to 60 per cent, compared to more than 100 per cent pricing just a month ago.

The ruling marks a rare legal blow to Trump’s increasingly aggressive trade stance, which has roiled markets and strained relations with allies and trading partners alike. With legal uncertainty now looming large over the White House’s next moves, markets are likely to remain volatile — but for now, investors are seizing on a rare glimmer of relief.

Read more:
Markets rally as US court blocks Trump tariffs, sparking hopes of trade policy reset

May 29, 2025
Wealthier homeowners hit as banks raise mortgage rates amid inflation fears
Business

Wealthier homeowners hit as banks raise mortgage rates amid inflation fears

by May 29, 2025

High street banks have begun hiking mortgage rates for borrowers with large deposits, in a move that could add hundreds of pounds a year to the cost of remortgaging for wealthier homeowners.

The shift comes as stubborn inflation figures dampen hopes of further interest rate cuts this summer.

Over the past week, nine lenders — including Halifax, Nationwide, NatWest and Santander — have increased their fixed-rate mortgage deals, targeting products typically used by those with at least 40 per cent equity. The rate rises follow a surprise jump in inflation in April, when the consumer price index climbed to 3.5 per cent, up from 2.6 per cent in March.

The unexpected uptick in inflation has unnerved the mortgage market, prompting a swift rethink on how quickly the Bank of England might cut interest rates. As a result, lenders have moved to reprice products that had recently become cheaper amid earlier forecasts of multiple rate cuts this year.

Nationwide raised its two-year fixed deal for remortgagers with a minimum 40 per cent deposit from 3.84 per cent to 4.04 per cent — a change that would cost an extra £336 per year on a £200,000 mortgage over 25 years. Its five-year fixed rate on the same terms has risen from 3.84 per cent to 4.09 per cent. NatWest also raised its remortgage rates for high-equity borrowers, pushing its two-year fix up to 3.94 per cent.

So far, the increases have mostly hit wealthier homeowners — those looking to remortgage or buy with a large deposit — while first-time buyers or those with smaller deposits have seen little change.

“This part of the market has always been the most competitive and attractive for lenders, so rates tend to be lower and profit margins can be tight,” said Mark Harris, chief executive of mortgage broker SPF Private Clients. “Any increase in funding costs could make these deals unprofitable, which may explain why lenders are targeting this segment for rate rises.”

The Bank of England earlier this month trimmed the base rate from 4.5 to 4.25 per cent, raising expectations of more cuts this year. But with inflation proving stickier than expected, and the economy growing faster than forecast, the outlook for further cuts is less certain.

Economists at major investment banks such as Barclays and Morgan Stanley have now scaled back their predictions, expecting just one or two more cuts in 2025 — far fewer than previously anticipated.

Borrowers are being advised to act quickly to secure low rates while they remain. The cheapest two-year fixed deal for buyers is currently 3.86 per cent from HSBC, with a £999 fee, while the same bank offers a 3.84 per cent rate for remortgagers.

“Many lenders who had been cutting their rates aggressively to win business have been forced to rapidly rethink their loan pricing,” said Peter Stimson of MPowered Mortgages. “Some of the very low rates that appeared at the start of May are already disappearing.”

Fixed-rate deals can typically be locked in up to six months ahead of completion, allowing buyers or those refinancing to hedge against further rises. If rates fall, borrowers can often switch to a lower deal closer to completion.

“If you are looking to purchase or refinance any time soon, secure the best rate now,” Harris said. “If rates go up, you’ve protected yourself. If they fall, you can often move to a better deal. It’s a win-win.”

Read more:
Wealthier homeowners hit as banks raise mortgage rates amid inflation fears

May 29, 2025
UK car production slumps to lowest April levels since 1952 amid van factory closure and global trade turmoil
Business

UK car production slumps to lowest April levels since 1952 amid van factory closure and global trade turmoil

by May 29, 2025

Britain’s car industry suffered its worst April in over 70 years, with new figures revealing a sharp fall in vehicle production that underscores deepening challenges facing the sector.

Data from the Society of Motor Manufacturers and Traders (SMMT) showed that UK car output fell by 8.9 per cent last month, with only 56,500 vehicles rolling off production lines — the worst April since 1952, excluding the shutdowns during the Covid pandemic. Meanwhile, commercial vehicle output collapsed by a staggering 68 per cent year-on-year, down from 8,500 to just 2,600 vans.

The figures cap off the worst start to the year for the British automotive sector since the global financial crisis of 2009. In the first four months of 2025, UK car production has dropped more than 4 per cent to 284,000 units, while commercial vehicle output is down 35 per cent, with van exports plummeting 75 per cent.

The SMMT attributed the slump to a combination of factors, including the late Easter holidays disrupting supply chains, the closure of Stellantis’s Luton plant — which previously built Vauxhall vans — and wider uncertainty linked to President Trump’s escalating trade war with China and the European Union.

With UK factories currently producing vehicles at an annualised rate of just 767,000 — fewer than at points during the pandemic — the sector is now operating at barely half of its pre-Covid levels. That includes major plants building brands such as Nissan, Mini, Toyota, Rolls-Royce, Bentley and Range Rover, all of which reported lower output in April.

Mike Hawes, SMMT chief executive, said the data should serve as a “wake-up call” for ministers. “With automotive manufacturing experiencing its toughest start to the year since 2009, urgent action is needed to boost domestic demand and our international competitiveness,” he warned.

He acknowledged recent trade breakthroughs — including improved terms with the EU, US and India — but said long-term success would depend on greater investment support and policy certainty. “To take advantage of these trading opportunities, we must secure additional investment, which will depend on the competitiveness and confidence that can be provided by a comprehensive and innovative long-term industrial strategy.”

The collapse in commercial vehicle production was largely driven by the decision by Stellantis to consolidate operations at Ellesmere Port, focusing on smaller electric models. The transition, while aimed at supporting the UK’s EV future, has left a production vacuum in the short term. It follows a broader industry trend as manufacturers race to retool facilities for zero-emission vehicle production ahead of incoming regulations and shifting market demand.

Hawes stressed that without a joined-up strategy to attract investment and stimulate EV demand, the UK risks falling behind global rivals. “Get this right and the jobs, economic growth and decarbonisation will flow across the UK.”

As the sector navigates the complex challenge of electrification, trade volatility and rising input costs, many manufacturers are warning that without government support and clear direction, the current downturn could become entrenched.

Read more:
UK car production slumps to lowest April levels since 1952 amid van factory closure and global trade turmoil

May 29, 2025
Ministers to gain power to mandate pension fund investment in UK assets
Business

Ministers to gain power to mandate pension fund investment in UK assets

by May 29, 2025

Ministers are to be granted new powers to compel pension funds to invest in British assets, under plans set to be announced in the Pension Schemes Bill on Thursday — a move expected to spark controversy within the retirement savings industry.

The government will introduce a “reserve power” that allows it to set binding asset allocation targets for workplace pension schemes. This would effectively give ministers the authority to dictate that a proportion of pension contributions must be directed into UK-based investments, including infrastructure, private equity, and start-ups.

The announcement forms part of a broader package of pension reforms designed to unleash billions of pounds in long-term capital into the UK economy. It follows the Mansion House Accord, a voluntary agreement reached in July between the Treasury and 17 of the UK’s biggest defined contribution pension providers to invest an estimated £25 billion in UK private assets by 2030.

While the accord was hailed as a step forward in aligning retirement savings with national economic priorities, the government had already signalled its intent to back the initiative with more forceful measures if needed. The Treasury confirmed on Wednesday night that the new reserve power will be included in legislation “to provide additional certainty” that individual pension schemes will not lose business by taking on the higher up-front costs associated with private market investments.

A Treasury spokesperson said: “The Mansion House Accord shows defined contribution schemes are voluntarily investing more in infrastructure and businesses. But to support further certainty and ensure fairness across the sector, the government will take a reserve power to set asset allocation targets if necessary.”

While ministers insist they do not intend to use the power unless absolutely required, its very existence is likely to alarm some in the pensions industry, which has long warned against government interference in fiduciary investment decisions.

Dame Amanda Blanc, chief executive of Aviva — one of the Accord’s signatories — recently described mandating investment as “a sledgehammer to crack a nut”, saying it could undermine trustees’ responsibility to act solely in the best interests of savers.

Industry critics argue that compelling pension schemes to invest in UK assets could expose savers to unnecessary risk, especially if those investments are politically motivated rather than commercially driven. There is also concern that it could create legal conflicts for trustees, whose duty under pensions law is to maximise returns for beneficiaries, not to pursue national economic policy.

Nevertheless, the new legislation will go beyond the reserve power. The Treasury is also set to unveil plans to consolidate the fragmented defined contribution (DC) sector. Smaller schemes will be encouraged or required to merge, creating fewer but larger pension funds that benefit from economies of scale and have greater capacity to invest in illiquid assets such as infrastructure and venture capital.

The £392 billion Local Government Pension Scheme (LGPS) will also be restructured. The government plans to pool its assets into megafunds of at least £25 billion each by the end of the decade, further aligning public sector pensions with broader economic goals.

The Treasury estimates that this consolidation could slash costs by £1 billion and deliver better outcomes for savers. For a typical worker who has been saving into a DC pension since the age of 22, the reforms could increase their retirement pot by around £6,000.

The bill will also include long-mooted proposals allowing employers to access surpluses in defined benefit (DB) schemes. In theory, this could unlock tens of billions of pounds in trapped capital — funds that could be reinvested in British businesses or used to support job creation.

Chancellor Rachel Reeves said: “We’re making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses.”

TheCityUK, the financial sector’s main lobby group, welcomed the reforms in principle but stressed the need for caution. Chief executive Miles Celic said: “It is hugely important to encourage and support people to best prepare for their retirements. Properly enabled, investments from pension funds into UK productive assets can also help drive economic growth. We will study the details of these proposals carefully and look forward to engaging with government on their implementation.”

With the pension reforms likely to be central to Labour’s wider economic strategy, the debate over the balance between public interest and trustee independence is set to intensify as the legislation progresses through Parliament.

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Ministers to gain power to mandate pension fund investment in UK assets

May 29, 2025
Hiring revival in doubt as employer confidence wanes over tax rises and workers’ rights bill
Business

Hiring revival in doubt as employer confidence wanes over tax rises and workers’ rights bill

by May 29, 2025

Hopes for a sustained recovery in UK hiring “hang in the balance” as employer sentiment is hit by concerns over rising payroll taxes and incoming workers’ rights legislation, according to a new report by the Recruitment & Employment Confederation (REC).

In its latest survey released on Thursday, the REC found that while short and medium-term hiring intentions improved in the three months to April, broader economic confidence among employers deteriorated, raising questions over whether a long-anticipated labour market rebound will fully materialise.

The REC’s economic confidence index plunged by 12 points over the quarter to a net minus 35, signalling deepening concerns about Britain’s growth prospects. Meanwhile, the index measuring employer investment intentions also fell, by five points to minus 9.

Kate Shoesmith, deputy chief executive of the REC, said businesses were torn between cautious optimism and mounting risks: “Firms clearly see potential, but they also see risk. While improving hiring intentions suggest a jobs comeback this year, the extent of any bounce back depends on the economic and political headwinds on firms easing a fair bit.”

The hiring outlook improved despite April ushering in two major cost increases for employers. The main rate of national insurance contributions (NICs) rose from 13.8 per cent to 15 per cent, and the earnings threshold at which NICs are paid fell from £9,100 to £5,000. Combined, these changes represent a £25 billion increase in payroll taxes. The minimum wage also jumped by 6.7 per cent last month, adding further pressure, particularly on sectors like hospitality, care and retail which rely on lower-paid, part-time staff.

Although private sector surveys have indicated that employers may cut hiring to offset rising NICs, some economists have warned that such surveys may overstate the impact by focusing too heavily on sentiment rather than concrete hiring decisions. The NICs increase, they argue, is worth less than 1 per cent of GDP and may be absorbed by many businesses.

The mood in the business community has also been unsettled by the government’s Employment Rights Bill, which is making its way through the House of Lords. The legislation, described by ministers as a generational upgrade to employment law, aims to improve sick pay access, encourage trade union membership, and offer greater predictability over working hours.

While the Trades Union Congress has welcomed the bill as a long-overdue boost for workers, business lobby groups including the CBI have warned it could act as a brake on hiring by raising compliance costs and red tape for employers. These concerns have prompted calls for careful implementation.

“Getting the Employment Rights Bill right will help,” Shoesmith said. “Firms want reassurance that the application of the bill avoids tying businesses and workers up in greater costs and complexity.”

Despite the mixed signals, official data still shows that the labour market remains relatively resilient. The latest figures from the Office for National Statistics (ONS) show vacancies at 761,000 in the three months to April — well below the 1.3 million peak seen in mid-2022, but still high by historical standards. Unemployment stands at 4.5 per cent, though the reliability of ONS figures has been questioned due to falling survey response rates.

The REC report suggests the next few months will be pivotal. GDP grew by a stronger-than-expected 0.7 per cent in the first quarter, fuelling hopes of a broader recovery. But with employer confidence sliding and policy uncertainty mounting, the future of Britain’s jobs market may hinge as much on politics as economics.

As Shoesmith put it, “The bounce-back is possible, but far from guaranteed.”

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Hiring revival in doubt as employer confidence wanes over tax rises and workers’ rights bill

May 29, 2025
Pensions at risk as HMRC eyes salary sacrifice schemes in Autumn Budget
Business

Pensions at risk as HMRC eyes salary sacrifice schemes in Autumn Budget

by May 29, 2025

Pensions tax relief may be in the firing line in the upcoming Autumn Budget, with growing concern among financial experts that HMRC is targeting popular salary sacrifice schemes as a way to raise revenue.

According to Blick Rothenberg, a leading audit and tax advisory firm, a new HMRC report points to the Treasury’s increasing focus on pension perks — including suggestions that salary sacrifice schemes could be significantly curtailed or even abolished.

Tomm Adams, a partner at the firm, said: “HMRC has just published a report suggesting that the Treasury has pensions in its crosshairs this Autumn. It explores ways to butcher salary sacrifice arrangements, or go even further by abolishing pension tax relief altogether.”

He added that the pensions industry was alarmed by what he described as a short-sighted approach that prioritises short-term tax receipts over long-term financial stability. “Those of us who care about the general population’s retirement prospects are appalled. This would sacrifice tomorrow’s security for today’s gain.”

Salary sacrifice arrangements have long been used by both employers and employees to boost pension contributions in a tax-efficient way. Under the scheme, an employee agrees to reduce their salary, with the equivalent amount instead being paid into their pension — which reduces both income tax and National Insurance contributions (NICs).

“There’s a misconception that this is a personal income tax loophole,” Adams said. “In reality, it offers no more of a break than other methods of making pension contributions. The key difference lies in National Insurance — there’s a 15% employer NIC break, and up to 8% for employees.”

He suggested that in an ideal world, all pension contributions — not just those via salary sacrifice — should receive the same level of NIC relief. “But that would cost the Treasury significantly more, and it’s not on the table under this government,” he added.

Any move to reduce or remove salary sacrifice would have wide-reaching consequences, not just for workers, but also for employers who use the scheme to support staff retention and wellbeing. “Companies often share part of their NIC savings with employees by topping up pension contributions,” Adams said. “That’s particularly important for higher earners, who already receive reduced pension tax relief.”

He also warned that abolishing or weakening salary sacrifice would likely reduce pension contributions across the board — particularly from higher earners — at a time when the UK already falls short on retirement provision. “The state pension provides just 21.7% of the average final salary. Even with auto-enrolment, that only rises to 41.9% — well below the global average.”

Adams argued that the government should look elsewhere for more immediate sources of revenue, such as unfreezing fuel duties, which could add £3 billion annually to Treasury coffers. “Hopefully, this is just the poorly timed publication of an outdated internal report,” he said. “But if not, it would represent a dangerous move against long-term financial planning for millions of workers.”

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Pensions at risk as HMRC eyes salary sacrifice schemes in Autumn Budget

May 29, 2025
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