UK Finance Shake-Up: National Insurance and Broadcasting Rules Spotlight

This article covers significant developments in the UK, such as Rachel Reeves discussing how businesses could manage a national insurance rise, Shell's struggle for regulatory approval in Nigeria, Affirm's UK launch of its payment service, and calls for revising UK broadcasting rules by the BBC chair.

Rachel Reeves, the British finance minister, has suggested that UK businesses can manage increases in employer national insurance contributions by adjusting profits or enhancing efficiencies instead of lowering worker wages. This comes amid broader economic discussions in the country.

Meanwhile, Shell faces challenges in obtaining approval for its $1.3 billion sale of its onshore oil and gas business in Nigeria, with regulatory bodies contesting the divestment. This represents a significant hurdle for the energy giant seeking to streamline its operations.

In a development in fintech, US-based 'buy now, pay later' company Affirm has made its way into the UK market, launching interest-free and interest-bearing loans. Furthermore, the head of the BBC, Samir Shah, urges the modernization of outdated broadcasting regulations, highlighting the need for more agile public service broadcasting in the UK.

(With inputs from agencies.)