The turnover rate of FTSE 100 chief executives has fallen to a five-year low, according to data from AJ Bell, with nine leadership changes so far in 2026. This is below the annual average of 13 seen since 2000 and means 2026 is on track to register the second lowest level seen since 2012. The report shows that finance director departures have also declined, from 25 last year to 15 so far this year, as companies prioritise stability amid economic volatility, conflict in the Middle East and rising energy costs. Boards are reluctant to risk lengthy strategy resets, restructuring and supply chain overhauls by appointing new leaders. Dan Coatsworth, head of markets at AJ Bell, said: “For some companies, it might be the wrong time to rock the boat with new leadership, maintaining…continuity may be viewed as the lower-risk option.” However, activist investors continue to push for change at underperforming businesses.

UK venture capital firms raised a record $6.9bn across 31 funds in the third quarter, more than four times the quarterly average of the past two years. UK start-ups have attracted $23.3bn so far this year, more than double France or Germany. Index Ventures raised $3.5bn across three funds, while semiconductor start-ups secured a record $1.6bn this year.

More than a third of Scottish businesses believe economic conditions have improved over the past year, according to the latest Understanding Business survey by Diffley Partnership. The survey, conducted in September, shows that 46% of firms expect profitability to rise in the next 12 months.

Chancellor John Healey has reportedly ruled out aligning capital gains tax (CGT) with income tax in the upcoming Budget, following warnings that higher rates could deter investment, prompt wealthy individuals to leave the UK and ultimately reduce Treasury revenues. Several senior Labour figures, including Louise Haigh, Neil Kinnock and Wes Streeting, had backed equalising the rates, while think-tank Centax estimated the move could raise £14bn. However, investors and financial advisers have warned that higher CGT could penalise investors and undermine confidence in the UK stock market. Mr Healey had been urged to act amid mounting fiscal pressures as rising interest rates and defence spending dented his financial headroom, with the Institute for Fiscal Studies warning of a £35bn shortfall in Government spending plans. The Treasury is reportedly considering capital gains tax relief to encourage entrepreneurs selling their businesses to reinvest in the UK.

Chancellor John Healey plans to make online marketplaces including Amazon, eBay and Temu responsible for collecting VAT from business sellers with annual turnover exceeding £90,000. The crackdown, expected to raise up to £1bn, targets tax avoidance by overseas retailers using UK shell companies to evade payments. Revenue would fund business rate reductions for high street shops, supporting government plans to exempt 140,000 small retailers. Amazon welcomed the proposals, but tax campaigners warned the turnover threshold could leave loopholes. Ministers have reportedly rejected a separate warehouse tax following opposition from major retailers.

The Resolution Foundation has urged Chancellor John Healey to raise £8bn in taxes during the upcoming Budget. Chief economist James Smith warned against delaying tough decisions, citing a significant deterioration in public finances. He emphasised the need to support families facing rising energy costs and to rebuild fiscal headroom to £20bn. Proposed measures include cutting employee National Insurance while increasing income tax rates, closing capital gains tax loopholes, and charging NI on partnership income.

The International Monetary Fund (IMF) has urged governments to rein in borrowing and public spending as rising bond yields push debt interest costs to their highest levels in decades. It warned that growing interest bills could squeeze funding for healthcare, education and social services, with global debt interest costs forecast to rise from 2.3% of GDP in 2021 to 3.7% by 2031. The US’s interest bill could reach 5.7% of GDP by the early 2030s, while UK debt interest payments have exceeded £100bn over the past four years. The IMF said the bond sell-off was driven mainly by higher oil prices and inflation, rather than fiscal policy, and did not yet constitute a crisis. It also raised its UK growth forecast by 0.3 percentage points to 1.3% for this year, praising efforts to stabilise the public finances ahead of Chancellor John Healey’s upcoming Budget, which is expected to prioritise fiscal discipline and economic resilience.

MI5’s director general, Sir Ken McCallum, has warned British tech startups to bolster their cybersecurity as foreign spies increasingly target the sector. In his annual threat update, he highlighted vulnerabilities in the UK’s financial systems and supply chains, saying: “If you’re a tech startup, expect to be spied on by foreign actors.” McCallum also announced the launch of the AI Threat Assessment Centre to address emerging threats from AI, noting that terrorists are exploiting AI for reconnaissance and attacks.

London Stock Exchange Group is in talks to acquire US credit data provider Octus for $3.5bn. The deal would deliver a near threefold return for private equity firm Permira, which bought a controlling stake in Octus for $1.3bn in 2022. Octus specialises in data on financially distressed companies and serves asset managers, investment banks and law firms.