Monday newspaper round-up: Companies House, supermarkets, UK economy
By Michele Maatouk
Date: Monday 07 Apr 2025
(Sharecast News) - The UK government agency responsible for overseeing a national register of companies has collected just £1,250 in fines after being given new powers to crack down on corruption, it has emerged. Companies House is implementing a series of reforms, amid embarrassing revelations about fraudsters and jokers signing up to the corporate register with names such as "Darth Vader" and "Santa Claus". - Guardian
The former chief executive of Metro Bank says he has been made "untouchable", advised to move to Australia and even had trouble opening bank accounts after the UK regulator accused him of misleading investors over a £900m accounting blunder. Craig Donaldson, who resigned in 2019, told the upper tribunal in London that both his career and personal finances had suffered as a result of the Financial Conduct Authority's (FCA) 2022 ruling. - Guardian
Donald Trump's finance chief has rejected fears of a US recession despite the president's trade war sparking a $6 trillion (£4.7 trillion) stock market collapse. Scott Bessent, the treasury secretary, said on Sunday there was "no reason" to expect a downturn in America, claiming that the economy will remain buoyant thanks to strong job numbers, low borrowing rates and falling oil prices. That is despite mounting fears over Mr Trump's tariffs, which have upended global trade and rattled global stock markets. - Telegraph
Britain's biggest supermarkets are poised to win fresh powers to open more stores in areas dominated by Aldi and Lidl as officials consider slapping new restrictions on the German discounters. The Competition and Markets Authority (CMA), the UK's monopoly regulator, is understood to be reviewing the rules that restrict major supermarkets from blocking their rivals from opening stores nearby. - Telegraph
The UK economy faces a "material hit" from President Trump's tariffs, which threaten to rupture global trade, amplifying the risk of further tax rises and spending cuts by Rachel Reeves, forecasters said on Monday. Growth is on track to slow to just 0.8 per cent this year and next, according to researchers at the consultancy KPMG, as Trump's shift towards a protectionist trade policy "undermines" the UK economy. KPMG previously thought that the economy would expand by 1.7 per cent this year and 1.4 per cent next year, compared with 1.1 per cent in 2024. - The Times
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