Barclays splashes £750m on Canary Wharf base in ‘strong endorsement’ of London June 30, 2026 Barclays has taken control of its global headquarters based out of Canary Wharf in a £750m deal hailed as a “strong endorsement” of the financial district and the capital itself. The blue-chip lender has entered a long-term leasehold interest agreement with Canary Wharf Group that grants the bank to use the property – based at [...]
As it happened: Stocks jump on defence and metals boost; Oil on track to shed a fifth on US-Iran peace hopes June 30, 2026 Welcome back to the City AM liveblog. Oil’s speed of decline has taken a hit this week as investors were forced to pause at the renewal of strike action between the US and Iran. Brent crude – the international benchmark for oil prices – was steadying above $73 per barrel, holding onto some of the [...]
Mercedes-Benz slammed for swerving payout for car with ‘serious safety risk’ June 29, 2026 Mercedes-Benz’s finance arm has been slammed by the UK’s banks ombudsman for “very poor” handling of a motor finance dispute where a consumer’s car showed “serious” electrical faults. The financial services arm of the German carmaker has been ordered to refund with interest 50 per cent of all monthly payments made by a customer after [...]
Wise profit slides as costs racks up from US listing June 26, 2026 Money transfer firm Wise saw its profit fall in its latest financial year as costs related to its new primary listing on Wall Street helped take a chunk out of the company’s bottom line. The UK fintech’s profit before tax slid eight per cent to $660m (£500m) – down from $717.5m – in its first [...]
As it happened: Stocks tumble after Apple rattles global markets; UK food exports hit by US tariffs June 26, 2026 Welcome back to the City AM liveblog. Markets are digesting fresh inflationary fears driven by Apple’s price hike as well as renewed threats over the safety of the Strait of Hormuz this morning after a projectile struck a vessel off the coast of Oman. Asian equity markets took a tumble overnight as price increases announced [...]
Barclays and Lloyds join banking sector plan for digital ID June 25, 2026 Barclays and Lloyds are among a group of top UK lenders working on a plan that would see customers able to use digital identification tools in their banking app. The collective of banks – which also includes HSBC, Nationwide, Natwest and Santander – are working with industry body UK Finance on a process where users’ [...]
As it happened: Stocks higher as oil price sinks; Reeves makes bid to stay as Chancellor June 25, 2026 Welcome back to the City AM liveblog. The price of oil is heading lower this morning as the outlook around the Strait of Hormuz improves. Brent crude – the international benchmark for oil prices – tumbled below $73 per barrel, extending losses for a fourth consecutive session. These moves helped wipe out all the gains [...]
UK banks fear a ‘disaster’ with Ed Miliband as Chancellor June 24, 2026 City banks are fretting over the prospect of Ed Miliband as Chancellor as Andy Burnham mulls who he will give the keys to Number 11. The banking industry is bracing for a shake-up at the Treasury and fears it could be hit with a fresh raft of taxes under a new Chancellor while key deregulatory [...]
HSBC bags £135m from former Silicon Valley Bank as job cuts push up restructuring bill June 24, 2026 The rescued UK wing of Silicon Valley Bank has paid another bumper dividend to HSBC as it racked up costs amid a sweeping restructure. HSBC Innovation Banking – the branding bestowed on the collapsed Silicon Valley Bank UK (SVBUK) – was taken over by Europe’s largest lender in March 2023 as ministers, regulators and banking [...]
As it happened: FTSE 100 scrapes into green after Segro’s surge; Oil at pre-war levels after Trump snaps at industry June 24, 2026 Welcome back to the City AM liveblog. European markets were a mixed bag on Wednesday after a bruising sell-off had investors across the globe dumping their equity exposure. In Europe, the FTSE 100 closed down just shy of 0.1 per cent on Tuesday, undershooting the bigger losses seen on Germany’s Dax at one per cent, [...]