Changes and Challenges in UK's Financial Landscape

The UK sees significant shifts with Poppy Gustafsson appointed as investment minister. Amid budget deficits, Rachel Reeves considers a capital gains tax hike, while TSB faces a hefty fine for customer mistreatment. Stellantis announces leadership changes, appointing a new finance chief and head for U.S. operations.

In a significant appointment, Britain has named Poppy Gustafsson, former CEO of cybersecurity firm Darktrace, as its new investment minister. This move comes just ahead of a global investment summit set to take place in London next week.

Meanwhile, British finance minister Rachel Reeves is weighing the option of raising the rate of capital gains tax. The potential increase is aimed at addressing the country's budget shortfall, which will be discussed in her budget announcement on October 30.

In other news, TSB bank has been fined nearly 11 million pounds for inadequate treatment of customers in arrears. Concurrently, Stellantis unveiled important management changes, appointing Doug Ostermann as the new finance chief and Antonio Filosa as head of its U.S. operations.

(With inputs from agencies.)