Why Revolut’s journey to become a UK bank is taking so long

Key Points

Revolut was granted a banking license with restrictions in July 2024 from the U.K.’s Prudential Regulation Authority (PRA).
A year on, the fintech giant is still in a “mobilization” phase which limits the amount of customer deposits it can hold.
Analysts say there are a number of reasons why Revolut’s authorization process is taking longer than expected, from regulatory issues to its sheer size.

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Finance

China’s July manufacturing activity contracts more than expected — declines for fourth-straight month

July 31, 2025

Key Points China’s official manufacturing PMI has been below the 50 mark, reflecting contraction rather than expansion, since April. The index for July was 49.3, missing expectations for 49.7 according to a Reuters poll. During a high-level Politburo meeting on Wednesday, China’s top leaders did not signal plans for substantial new stimulus. Source

Finance

Stocks making the biggest moves after hours: Microsoft, Meta, Ford Motor, eBay and more

July 30, 2025

Check out the companies making headlines after the bell : Qualcomm — The semiconductor company fell 5% despite posting a fiscal third-quarter beat on both the top and bottom lines. Qualcomm posted adjusted earnings of $2.77 per share on revenue of $10.37 billion. Analysts polled by LSEG had expected earnings of $2.71 per share and […]

Finance

Divided Fed holds key interest rate steady, defying Trump’s demands for aggressive cuts

July 30, 2025

Key Points The Federal Open Market Committee voted 9-2 to keep the federal funds rate set in a range between 4.25%-4.5%. The decision was met with opposition from governors Michelle Bowman and Christopher Waller, both of whom have advocated for the Fed to start easing. This was the first time since late 1993 that multiple […]