Business
Citi Group among US finance firms pledging investment into UK before Trump visit
US financial firms have announced investments in the UK worth £1.25 billion before Donald Trump’s state visit next week.
Citi Group has confirmed it will invest £1.1 billion across its UK operations, while S&P Global will put £4 million into their Manchester offices.
PayPal has confirmed a £150 million investment in product innovations and growth and Bank of America will create up to 1,000 new jobs in Belfast in its first operation in Northern Ireland.
Alongside the new investment announcements, companies are committing to ramp up commercial activity between the US and UK in the coming years.
Blackrock is allocating £7 billion to the UK market over five years, while Rothesay is planning to double its investment in the US with another £7 billion in the coming years.
The investment and capital commitments line up some £20 billion trade between the two countries – with some £8 billion to come to the UK and £12 billion to go to the US, the Department for Business and Trade said.
Business and Trade Secretary Peter Kyle said: “These investments reflect the strength of our enduring ‘golden corridor’ with one of our closest trading partners, ahead of the US presidential state visit.”
Tech giants OpenAI and Nvidia are reportedly planning to unveil billions of dollars of investment into UK data centres during the visit next week.
Sam Altman, the boss of ChatGPT maker OpenAI, and chipmaker Nvidia’s chief executive Jensen Huang are understood to be part of a delegation of US executives to join Mr Trump.
The US president’s two-day trip begins on Wednesday and includes an overnight stay at Windsor Castle.
It comes as the future of tariffs on British steel is still unclear.
When the UK and US signed a trade deal in June, it reduced tariffs on car and aerospace imports to the US.
But no agreement on a similar arrangement for Britain’s steel imports was reached, leaving tariffs on steel at 25%.
A Government spokesperson said: “Our special relationship with the US remains strong.
“Thanks to our trade deal, the UK is still the only country to have avoided 50% steel and aluminium tariffs, and we continue to partner on technologies such as AI, Quantum, and cyber security in our trillion-dollar tech sectors.
“We will work with the US to implement this landmark deal as soon as possible to give industry the security they need, protect vital jobs, and put more money in people’s pockets through the plan for change, as well as welcoming the president on this historic state visit.”
A scheme has been launched to compensate victims of the Post Office Capture IT scandal that saw former subpostmasters forced to repay shortfalls.
The Government said those affected can now apply for redress, with those found to be eligible set to receive £10,000 immediately and final awards potentially reaching up to £300,000 after full assessment by an independent panel, or more in certain cases.
The Capture system pre-dated the now infamous Horizon software, which has been responsible for around 1,000 wrongful convictions.
An independent report into faulty accounting system Capture was commissioned last year after subpostmasters said they had suffered similar problems to those faced by the Horizon victims.
The report by forensic accountants Kroll Associates, which concluded there was a reasonable likelihood that Capture – in use at Post Office branches between 1992 and 2000 – created financial shortfalls for postmasters.
In some cases, postmasters resorted to using their own savings to make up the difference.
The scheme will be not be open to postmasters who have criminal convictions related to Capture.
Those who were given criminal convictions must instead go through the Criminal Cases Review Commission, or its Scottish equivalent.
The Government has said it will “ensure that appropriate redress is given” to those where convictions are overturned by the courts.
The compensation scheme will be tested for the first 150 claimants before being rolled out more widely.
Post Office minister Blair McDougall said: “After over two decades of fighting for justice, postmasters and their families will finally receive recognition and recompense for the lives and livelihoods that Capture destroyed.
“I’d like to thank all of those victims who have helped us to design this scheme, allowing us to deliver on our promise of providing redress today.
“We can’t make up for everything they have lost, but today we begin restoring some of the dignity so cruelly taken away by this scandal.”
The Government said the scheme has been designed “hand in hand” with victims, while also taking lessons into account from redress schemes for the Horizon IT Scandal.
So far, more than £1.2 billion has been paid out in compensation to more than 9,000 victims of the Horizon scandal, it added.
New Delhi: The Central Board of Direct Taxes (CBDT) has extended the due dates for filing audit reports and Income Tax Returns (ITR) for the Assessment Year 2025–26, giving major relief to businesses, professionals, and firms whose accounts require auditing.
Earlier, the deadline to submit tax audit reports was October 31, 2025, and the corresponding ITR filing deadline was also October 31, 2025. However, considering technical delays and representations from taxpayers and professionals, the CBDT has now extended both these dates.
As per the latest circular, taxpayers who are required to get their accounts audited under the Income Tax Act, 1961 can now file their audit reports by November 10, 2025, instead of October 31. Consequently, the due date for filing the ITR for such taxpayers has also been pushed to December 10, 2025.
This extension applies to companies, Limited Liability Partnerships (LLPs), and other entities whose books of accounts need to be audited. It also benefits professionals and small businesses who were facing difficulties due to late availability of ITR forms and software utilities.
The government’s decision aims to provide adequate time for taxpayers and auditors to ensure accuracy and compliance while reducing last-minute rush and filing errors. The extension also reflects the government’s understanding of the challenges faced by the accounting community, especially with overlapping deadlines for GST audits and other financial filings.
Tax experts advise taxpayers to make the most of this extension by completing audits early and verifying data consistency between GST, TDS, and income tax returns to avoid discrepancies during assessment.
In summary, the new deadlines are:
Audit Report Filing: November 10, 2025
ITR Filing for Audited Taxpayers: December 10, 2025
Missing these dates could still attract penalties and interest, so taxpayers are urged to file well before the final deadline.
Gold and silver prices have experienced significant fluctuations recently. The US-China trade deal and the strengthening US dollar are the primary factors influencing these movements. Investors tend to reduce their investments in precious metals when market and global geopolitical conditions appear stable, leading to a decline in prices.
On the Multi Commodity Exchange of India (MCX), gold for December fell by Rs 1,546 to Rs 1,21,905 per 10 grams. Last week, which had fewer trading days due to holidays, saw gold prices drop by Rs 3,557 (2.80%). Similarly, silver for December decreased by Rs 1,964 to Rs 1,45,506 per kg.
During the same week, silver prices fell by Rs 9,134. Many traders engaged in transactions involving 12,428 gold bars and 20,367 silver bars. The progress in US-China trade talks has contributed to the declining prices since Friday.
The recent price decline can be attributed to the two-day meeting between US and Chinese leaders in Malaysia. They reportedly reached a consensus on key issues such as export rules and shipping tariffs. As a result, the US-China trade deal and the strong US dollar have diminished the demand for safe-haven assets, leading to a further decline in gold prices.
This week, central banks are expected to make significant decisions regarding interest rates. The US Federal Reserve is likely to cut rates by 0.25%, while the European Central Bank and the Bank of Japan are expected to maintain their current rates. Traders are closely monitoring these developments.
Expert Darshan Desai commented, “We should be prepared for significant fluctuations in the short term. Gold prices may fall further.”
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