As it happened: FTSE 100 losses soften after Nasdaq recovers from tech rout FTSE 100 Live Welcome back to City AM‘s FTSE 100 liveblog. It’s Friday and London’s blue-chip index is suffering another big loss after the tech rout deepened on global markets overnight. The FTSE 100 was down 1.6 per cent in afternoon trading to 10,616p. The Nasdaq was reversing some losses and gained 1.6 per cent at open on [...]
As it happened: Stocks reverses early gains after tech sell-off; interest rates hiked FTSE 100 Live Welcome back to City AM‘s FTSE 100 liveblog. The Bank of England has raised interest rates for the first time in three years. The central bank’s Monetary Policy Committee (MPC) voted in a 8-1 split to hike rates to four per cent as concerns surrounding the inflationary impact of the Iran war dragged on. Meanwhile, [...]
Revolut secures $115bn price tag after string of licence wins Fintech Revolut has secured its latest milestone valuation following a funding round that included fresh injections from investment giants. The digital banking giant confirmed on Wednesday its price tag has swelled by over 50 per cent to $115bn after a transaction led by Glade Brook Capital Partners, Coatue and Durable Capital Partners. It is the first funding [...]
As it happened: FTSE 100 rallies after Democratic sweep in midterms and oil retreats November 4, 2026 Welcome back to City AM‘s FTSE 100 liveblog. London’s blue-chip index has rallied into the afternoon while Wall Street also opened on the front foot after the midterm elections. Brent crude fell around $100 per barrel, extending the week’s decline as investors weighed up possible outcome of ongoing peace negotiations between the US and Iran. [...]
Barclays and HSBC bankers donate over $500k in US midterms November 3, 2026 Barclays and HSBC bankers donated over half a million dollars to US political candidates ahead of the midterm elections. Bankers who are employed at the two UK-headquartered giants flooded cash into US political figures as millions of Americans headed to the polls. Donors listing Barclays or one of its subsidiaries as an employer contributed just [...]
Barclays begins early motor finance payouts as FCA sets ground rules November 3, 2026 Barclays will begin offering payouts to motor finance consumers ahead of the forthcoming legal battle after the City watchdog introduced its “minimum expectations” for lenders wishing to settle early. The bank said it would make payments using the Financial Conduct Authority’s (FCA) redress scheme methodology and acceptance would be optional. Once a consumer accepts the [...]
As it happened: FTSE 100 drops; oil reverses gains on hopes of end to US-Iran war November 3, 2026 Welcome back to City AM‘s FTSE 100 liveblog. London’s blue-chip index came under pressure after a mixed bag for oil trading. The price of Brent crude has crept above $106 per barrel following reports of a US attack on Iran’s Qeshm Island, a key strategic military location controlling the Strait of Hormuz. The reported strike [...]
Barclays and Natwest layoffs signal start of banking’s AI job squeeze November 3, 2026 Barclays, Natwest, Lloyds and HSBC toasted to a £14n profit haul in the third-quarter but sweeping job cuts stole the show. Samuel Norman takes a look at what the last three months signal for the sector’s future. As bank leaders stepped up to the podium for third-quarter earnings, the agenda had already been set for [...]
Banks battle for mortgages ahead of looming interest rate hike November 2, 2026 Britain’s biggest banks are battling for mortgage market share on razor-thin margins even as borrowers rush to remortgage ahead of looming interest rates hikes. The central bank is expected to lift its base rate to four per cent on Thursday – its first hike in three years – following a sharp resurgence in inflation. The [...]
Chrysalis upgrades Starling valuation despite cut-price Boden sale November 2, 2026 Chrysalis Investments has lifted the value of its stake in Starling despite the recent cut-price share sale by the fintech’s founder Anne Boden. The British investment trust said on Monday its holding carried a price tag of around £403.9m, up by £47.9m following an external review. The trust holds around an 11 per cent stake [...]