Metro Bank customers hit by payment problems; EU to raise tariffs on foreign steel imports – business live | Business

Metro Financial institution clients hit by fee problemsCustomers of Metro Financial institution have been hit with issues with its fee providers, with some alarmed to see they now apparently have a detrimental steadiness.The glitch, reported this morning, left some clients unable to make or obtain funds.One buyer has instructed Metro that their account is exhibiting -£909, warning they’ve entered an unauthorised overdraft.One other has reported that transactions have been duplicated, placing them right into a detrimental steadiness.Metro has claimed that the problem has now been resolved, saying:
Earlier this morning, we skilled a brief delay affecting our inbound and outbound funds. This has now been resolved, and clients can at present make funds as regular. Some clients might even see delays whereas we course of these earlier funds and balances should be exhibiting inaccurately. We’re prioritising this and dealing arduous to minimise impression. We apologise for any inconvenience.
Metro clients, although, are disputing that it has been mounted.Not mounted in any respect is it although? having the bollocks to place “it’s been resolved” is past a joke i’m nonetheless sitting with minus in my account. Compensation should be so as, I’m by no means utilizing Metro once more after this.— Josh Gallagher (@JoshGallagherrr) October 7, 2025three hours after this tweet, and 7 hours after I initially known as Metro, the £600 that was taken from my account STILL hasn’t been returned.couldn’t go to work.can’t pay my payments.couldn’t even feed the canine.is that this the way you conduct enterprise @Metro_Bank? https://t.co/edDQSVojtp— Republicurious? (@republicurious) October 7, 2025Metro’s Service Standing web page reveals that its shops and phone banking operations are busier than regular.ShareUpdated at 08.56 EDTKey eventsShow key occasions onlyPlease activate JavaScript to make use of this featureThis chart, from Downdetector, reveals how reviews of issues at Metro Financial institution started round 6am this morning, peaking simply earlier than 9.30am. {Photograph}: DowndetectorShareMetro Financial institution clients hit by fee problemsCustomers of Metro Financial institution have been hit with issues with its fee providers, with some alarmed to see they now apparently have a detrimental steadiness.The glitch, reported this morning, left some clients unable to make or obtain funds.One buyer has instructed Metro that their account is exhibiting -£909, warning they’ve entered an unauthorised overdraft.One other has reported that transactions have been duplicated, placing them right into a detrimental steadiness.Metro has claimed that the problem has now been resolved, saying:
Earlier this morning, we skilled a brief delay affecting our inbound and outbound funds. This has now been resolved, and clients can at present make funds as regular. Some clients might even see delays whereas we course of these earlier funds and balances should be exhibiting inaccurately. We’re prioritising this and dealing arduous to minimise impression. We apologise for any inconvenience.
Metro clients, although, are disputing that it has been mounted.Not mounted in any respect is it although? having the bollocks to place “it’s been resolved” is past a joke i’m nonetheless sitting with minus in my account. Compensation should be so as, I’m by no means utilizing Metro once more after this.— Josh Gallagher (@JoshGallagherrr) October 7, 2025three hours after this tweet, and 7 hours after I initially known as Metro, the £600 that was taken from my account STILL hasn’t been returned.couldn’t go to work.can’t pay my payments.couldn’t even feed the canine.is that this the way you conduct enterprise @Metro_Bank? https://t.co/edDQSVojtp— Republicurious? (@republicurious) October 7, 2025Metro’s Service Standing web page reveals that its shops and phone banking operations are busier than regular.ShareUpdated at 08.56 EDTInvestors have been piling into gold-backed funds in current weeks, serving to to push bullion to a sequence of document highs.The World Gold Council has reported that international bodily backed gold alternate traded funds (ETFs) recorded their largest month-to-month influx in September, ensuing within the strongest quarter on document.Their knowledge reveals that $26bn flowed into gold ETFs in July-September.The Council explains:
North American buyers led the cost for a lot of the quarter; at US$16.1bn, the influx represents the most important Q3 and second largest quarter on document.
European funds additionally noticed hefty shopping for and registered the area’s second-strongest quarter (US$8.2bn), coming in simply US$74mn shy of their document set in Q1 2020. Asia shopping for slowed through the quarter (US$1.7bn), whereas funds in different areas (US$28.2mn) have been comparatively flat.
A chart exhibiting inflows to gold ETFs Illustration: World Gold CouncilWhy? They level to “ongoing commerce, coverage, and geopolitical dangers”, which don’t seem like abeting, in addition to persistent greenback weak point.Additionally they counsel that “continued stagflation fears within the UK” may very well be one other key issue attracting gold ETF inflows.ShareUpdated at 08.25 EDTBack within the markets, the pound has dipped to its lowest stage in over every week towards the US greenback.Sterling has slipped by nearly a cent right this moment, touching $1.3389, the bottom since 29 September (final Monday).That’s primarily as a result of greenback power, although, level out Fiona Cincotta, senior markets analyst at Metropolis Index:
The US greenback is rising, boosted by the weak point of the yen and the euro as a result of political and financial issues in France and Japan.
ShareBusiness and Commerce Secretary Peter Kyle has welcomed this morning’s information that JLR will resume some manufacturing operations tomorrow.Kyle says:
“That is very welcome information for employees and suppliers, however I do know many are nonetheless underneath stress, notably additional down the availability chain.
My focus will stay on serving to JLR resolve this cyber incident, making additional progress in the direction of restarting manufacturing, and supporting the long-term well being of our automotive provide chain.”
ShareUnsurprisingly, Jaguar Land Rover’s gross sales have tumbled within the final quarter because of the shutdown triggered by its cyber-attack.JLR has reported that its retail gross sales within the final quarter fell by 17% to 85,495 items within the three months to 30 September. Wholesale deliveries fell by 24%.JLR says:
Volumes diminished throughout a difficult quarter, reflecting manufacturing stoppages for the reason that begin of September ensuing from the cyber incident, the deliberate wind down of legacy Jaguar fashions forward of the launch of latest Jaguar and incremental US tariffs impacting JLR’s US exports.
The carmaker provides that the UK was notably impacted by the deliberate wind down of legacy Jaguar fashions and the cyber incident, which halted manufacturing for the final 5 weeks (with a partial restart now set for tomorrow).JLR reviews:
In comparison with the prior 12 months, retail volumes for the second quarter have been down in all markets, comprising the UK (-32.3%), North America (- 9.0%), Europe (-12.1%), China (-22.5%), MENA (-15.8%) and Abroad (-4.1%)
ShareEmily Sawicz, director and industrials senior analyst at consultancy RSM UK, has warned that the European Fee’s proposal to impose a 50% tariff on metal imports worldwide poses “a major risk to the UK metal business”.Sawicz explains:
The EU accounts for round 75% of UK metal exports, so these tariffs threat slicing off entry to the UK’s largest and most strategically necessary market at a time when the sector is already underneath stress from international competitors and rising power prices.
“Regardless of the UK authorities securing quarterly tariff-free quotas for sure metal classes, there stays uncertainty round which merchandise are lined and the way lengthy these exemptions will final. This uncertainty will create a ripple impact throughout different industries together with development, automotive, actual property and power, all of which depend on secure provide chains and entry to uncooked supplies.
As well as, whereas metal accounts for simply 0.1% of UK manufacturing, it’s strategically necessary for general productiveness, notably in growth-driving industries liable for delivering housing and infrastructure.
ShareUK metal unions slam EU tariff planLisa O’CarrollThe UK metal employees union has hit out towards EU proposals to introduce a 50% tariff on international imported metal as a part of a bloc-wide effort to save lots of their very own business within the face of competitors from China and Donald Trump’s 50% tariffs (see earlier submit):Alasdair McDiarmid, assistant common secretary at steelworkers’ union Group, stated:
“On condition that round 80% of the UK’s metal exports go to Europe, the brand new measures proposed by the EU signify an existential risk to our business, in addition to the 1000’s of jobs and communities it helps proper throughout the nation.”
The plans for tariffs might be introduced by the EU commerce and business commissioners, Maros Sefcovic and Stéphone Séjourné after 4pm right this moment.Whereas the UK was spared the 50% tariff on metal imports Trump imposed in June, the UK metal business can be struggling towards low-cost Chinese language imports and a brand new 25% tariffs on metal imports imposed by the US president earlier than June.McDiarmid stated the UK authorities was “conscious about the grave dangers the EU proposal poses” and known as on it to urgently negotiate a country-specific quota.Sectoral tariff-free quotas for international imports may end up in de facto blockages, as British farmers can testify.Negotiators to the UK-US tariff deal revealed earlier this 12 months that the quota for third nation imports of beef didn’t work because it was crammed up by Brazil and others in South America.They have been ready to make use of warehouses in Mexico to move beef rapidly to the US filling up the US quota and beating British farmers who wanted extra time to ship their very own beef throughout the Atlantic.Underneath the UK-US deal, British farmers now have UK-specific quota for beef imports.ShareUpdated at 06.13 EDTEU to lift tariffs on international metal importsLisa O’CarrollThe EU is to take a leaf out of Donald Trump’s playbook and improve tariffs on international metal imports because the native business, notably in Germany, is threatened with “collapse” within the face of low-cost Chinese language imports and 50% punitive tariffs imposed by the US in June.In a serious shift in coverage, the European Fee is anticipated to suggest doubling the present 25% tariff to 50% on international metal whereas on the similar time drastically decreasing the present quota for duty-free imports.The bloc’s business commissioner Stéphane Séjourné in Strasbourg stated this morning:
“The European metal business was on the snapping point – we’re defending it in order that it will probably make investments, decarbonise, and change into aggressive once more.”
He insisted the transfer was not the identical as Trump’s blunt 50% metal tariff that applies, with some exceptions such because the UK, throughout the globe.The EU tariff, in distinction, will solely apply after a quota of international imports has been crammed, with all international imports under that duty-free.Alongside the proposal being offered after 4pm in Strasbourg on Tuesday, the EU is searching for a “metals alliance” with the US to ring-fence their respective economies from over-capacity.Because the 27-nation EU pushes forward with decarbonising business, metal is crucial for renewable power tools, from photo voltaic panels to wind generators, and for electrical automobiles.“The European Union must act now, and decisively, earlier than all lights exit in massive components of the EU metal business and its worth chains,” stated business group Eurofer’s president Henrik Adam.ShareUpdated at 05.48 EDTUK buyers give up fairness funds at document tempo as they flee sky-high inventory marketsUK buyers have pulled a document amount of money out of fairness funds within the final three months, fretting that valuations have soared too excessive, new knowledge reveals.Calastone, the most important international funds community, has reported this morning that buyers “ran petrified of sky-high inventory markets” within the third quarter of this 12 months.Its knowledge reveals that UK buyers withdrew £1.20bn of their equity-fund holdings in September, taking the overall within the third quarter of 2025 to £3.64bn, the worst of any three-month run on Calastone’s 11-year document.Relatively than holding equities, buyers have been placing cash into bonds and cash market funds, that are perceived as safer than shares – at a time when many inventory markets (together with London, New York and Toyko) have been hitting document highs.Calastone reviews that each main equity-fund sector besides European-focused funds noticed outflows in September, including:
International fairness funds suffered an unprecedented fourth consecutive month of internet promoting (£203m), whereas North American funds shed £146m. Outflows from Asia-Pacific funds prolonged to their twenty ninth consecutive month (£209m), whereas funds centered on the UK shed £691m.
China, Japan, rising markets, small cap and sector funds all noticed outflows too. European funds stood out, as buyers added a internet £203m to their holdings.
{Photograph}: CalastoneEdward Glyn, head of world markets at Calastone, reviews that “outflows are on the rise once more” from UK funds, explaining:
Likely, seeing the UK market attain document ranges whereas nonetheless not wanting costly has given some sellers pause for thought. However the doom loop of detrimental commentary on the UK economic system with its dire fiscal place, hovering credit score spreads, lack of progress and impending tax rises might now be successful out.
ShareE-bike operator Lime boosts turnoverLauren AlmeidaLime rental bikes parked on a pathway at Eel Brook Widespread in Fulham, London. {Photograph}: Kevin Coombs/ReutersThe electrical bike sharing start-up Lime has reported a 75% rise in turnover to £111.3m within the UK, as the recognition of its inexperienced bikes and scooters continues to develop.Whereas extra individuals are hopping on Lime bikes, the UK arm of the corporate reported a 40% drop in pre-tax revenue to £1.7m in its 2024 monetary 12 months, which was largely pushed by a 79% rise in its administrative bills.Lime bikes have change into an more and more in style mode of transport in London, though the corporate has come underneath hearth from native authorities over bikes being discarded on the road. In some areas, there are geofences that cease bikes from being parked and freeze their electrical features to discourage folks from biking by.Lime, which relies in San Francisco, operates fleets of e-bikes and scooters in 280 cities around the globe. Over the summer time there have been reviews that it was contemplating a inventory market floatation, with estimates suggesting that it may very well be valued at about $500m.Final 12 months, chief govt Wayne Ting instructed the Sunday Occasions that Lime was “prepared” for a float in New York, however that the IPO market on the time was “largely shut”.Share