Top UK banks to raise £50m to build payments network September 15, 2026 Britain’s biggest banks are set to kick off a fundraising campaign that will pave the way for a domestic payments alternative to Mastercard and Visa. The UK Payments Delivery Company (PDC) is launching an equity capital raise as part of a new model from the Bank of England, aligning with the Treasury’s National Payments Vision, [...]
Revolut hackers stole nearly 700 customers’ private data September 15, 2026 The group of hackers behind a major breach of Revolut managed to steal nearly 700 customers’ private data, City AM understands. Revolut has contacted the 680 people affected by what it described as a “sophisticated” impersonation scam, according to a source close to the bank. The compromised data included customers’ identity documents, postal and email [...]
As it happened: FTSE 100 slides as oil and AI weigh on markets September 15, 2026 Welcome back to the City AM liveblog. Investors were met with a volatile start to the week after rising tensions around oil and AI dampened market mood. Brent crude – the international benchmark for oil prices – held above $107 per barrel on Tuesday morning after worries around global supply ramped up on Monday. Saudi [...]
Mortgage rates at five-month high ahead of Bank of England decision September 14, 2026 Borrowers are bracing for more mortgage woes ahead of the Bank of England’s interest rate decision this week. Mortgage rates have climbed to their highest level in nearly five months after some 25 lenders hiked their deals in the last week including the likes of HSBC, Lloyds and Nationwide. The average two-year fix has risen [...]
Revolut facing extortion threat after hackers steal customers’ data September 14, 2026 A group of Revolut hackers are threatening to release stolen customer data unless they receive payment from the fintech, after the company inadvertently handed over a trove of users’ private information. The digital banking giant said over the weekend a “very limited” number of customers had been affected by an impersonation scam, which compromised data including [...]
As it happened: FTSE 100 stocks led higher by software firms; oil at four-month high September 14, 2026 Welcome back to the City AM liveblog. The price of oil has smashed a four-month high following on from last week’s nine per cent rally. Brent crude – the international benchmark for oil prices – rose towards $108 per barrel on Monday morning following the news that Saudi Arabia had shut a major crude pipeline [...]
Barclays faces legal scrutiny over role in £90m ‘Ponzi scheme within a Ponzi scheme’ September 10, 2026 Barclays could be on the hook for as much as £37m over its role in a collapsed ‘Ponzi scheme’ after failing to dismiss claims brought by the company’s liquidators. The FTSE 100 finance giant provided banking services to a company called Denaro from 2013 until its demise a decade later, at which point it faced [...]
JP Morgan boss Jamie Dimon to meet Chancellor John Healey ahead of Budget September 9, 2026 JP Morgan boss Jamie Dimon is set to meet John Healey today ahead of the new Chancellor’s first Budget, City AM understands. The American banker – regarded as one of the most influential figures in global finance – is due to meet Healey in London for the first time following a phone call exchange last [...]
As it happened: FTSE 100 dives as oil prices surge past $100 in blow to inflation September 9, 2026 Welcome back to City AM’s FTSE 100 liveblog. The UK’s blue-chip index fell on Wednesday as oil prices reared up yet again, reaching six-week highs. Speaking late on Tuesday, Andrew Bailey caused fresh speculation that the Bank of England could hike interest rates when he said that risks to inflation remain “on the upside”. The [...]
Revolut US licence win ‘strengthens pre-IPO story’ September 9, 2026 Revolut’s conditional approval for a US banking licence has been hailed as a “consequential” step in the fintech’s march towards a long-awaited public debut. The digital bank landed approval from the Office of the Comptroller of the Currency (OCC) for its American national bank charter last week, clearing a major hurdle to launch its operations [...]