Financial Times Top Stories: Banking Moves and Business Impacts

Zilch acquires Lithuanian Fjord Bank for a European banking license. Abu Dhabi facilitated Nigel Farage's UAE visit to meet officials. UK cuts estimated business costs of worker rights reforms to £1 billion and considers concessions for pubs amid business rate backlash.

Zilch, a London-based fintech company, has made a strategic move by acquiring Lithuanian Fjord Bank for $38 million, thus securing a European banking license and setting the stage for its international expansion ahead of a potential IPO.

In a show of increasing international interest, Abu Dhabi financed Nigel Farage's trip to the United Arab Emirates in December, where he met with top officials, highlighting the populist politician's growing global influence.

Meanwhile, the UK government has revised its cost estimates for business impacts of its worker rights reforms, now projecting a reduced figure of £1 billion. Additionally, British ministers are considering concessions for pubs as tensions rise over increased business rates.

(With inputs from agencies.)