As it happened: Choppy day for FTSE 100 after Iran closes Strait of Hormuz as strikes ramp up July 13, 2026 Welcome back to the City AM liveblog. Markets are returning from the weekend to face another geopolitical shock after Iran confirmed it had closed the Strait of Hormuz once more. The narrow waterway that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea had slowly seen a pick up in traffic [...]
As it happened: Stocks rises as oil eases but Strait of Hormuz concerns ramp up July 10, 2026 Welcome back to the City AM liveblog. Markets are set to make a loss for the week after the conflict in the Middle East returned to full-blown military action this week. The FTSE 100 has shed over one per cent and is on course to close in the red for the week, even after breaking [...]
Rachel Reeves’ legacy of tinkering with the City is not enough, says Mel Stride July 9, 2026 Sir Mel Stride has branded Rachel Reeves’ legacy in government as mere “tinkering” with City reform as the top Tory predicted her successor will create a “hostile” environment for the banking sector. In an interview with City AM, the shadow Chancellor branded Reeves’ two-years in the Treasury as “managerial incrementalism,” adding it was “not enough”. [...]
As it happened: Stocks fall as oil creeps up; Trump to ‘finish job’ in Iran July 9, 2026 Welcome back to the City AM liveblog. The escalation of the conflict in the Middle East has wiped out the recovery across global markets that had slowly took place over the last few weeks. The US and Iran exchanged further fire overnight, with America’s central command stating it had hit around 90 Iranian targets in [...]
Motor finance war of words heats up as City watchdog blasts law firm’s motives July 8, 2026 A blistering war of words has broken out between the City watchdog and the firms leading the consumer legal challenge to its £9bn motor finance scheme. The Financial Conduct Authority (FCA) has urged the Upper Tribunal to throw out the case entirely as it slammed Courmacs Legal and its client Consumer Voice, for a serious [...]
As it happened: FTSE 100 slump as oil soars; Trump says Iran will be ‘hit hard’ tonight July 8, 2026 Welcome back to the City AM liveblog. Global markets are strapping in for a return to risk-aversion after the US and Iran traded strikes overnight following the breakdown of a peace deal in the Middle East. The US kicked off its “series of powerful strikes” late Monday night. The nation’s Central Command said the attacks [...]
How the boss of Zilch became UK fintech’s power broker July 8, 2026 Last year, Zilch founder Philip Belamant sat down with then-boss of Monzo, TS Anil. As the two friends caught up, Belamant was fizzing with ideas to turn his $2bn British fintech into a global powerhouse, according to sources familiar with the matter. Not long ago, Zilch had set up shop across the pond, and Belamant [...]
Bank of England to relax capital rules despite warning of economic threats July 7, 2026 The Bank of England set out proposals to relax UK banks’ capital rules even as it sounded the alarm on the growing risk of multiple threats hitting the UK economy. In the latest meeting of the central bank’s Financial Policy Committee top officials said it would work with watchdogs on a package of “broad reforms” [...]
As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions July 7, 2026 Welcome back to the City AM liveblog. Donald Trump warned the US will “finish the job” in Iran leaving investors unnerved as he renewed military threats following the funeral of Tehran’s former Supreme Leader Ayatollah Ali Khamenei. Brent crude – the international benchmark for oil – traded above $72 per barrel on the news, but [...]
Financial services activity ‘drops rapidly’ as investors alarmed by Burnham July 6, 2026 Business activity across the financial services sector – one of the chief drivers of economic growth across the UK – has dropped sharply as confidence slumps, according to a new survey. Financial services firms, including banks and insurers, said business volumes had nosedived in the second quarter of the year. While the net reading for [...]