‘Serious concern’: City watchdog accused of withholding information in motor finance row October 7, 2026 The City watchdog is coming under pressure to release its communications with the Treasury and modelling data for its controversial motor finance redress scheme, City AM can reveal. The Financial Conduct Authority (FCA) is facing legal challenges from the finance arms of Volkswagen and Mercedes Benz as well as French-owned CA Auto Finance over its [...]
Stages of tax grief: Is it time for bankers to bargain? October 7, 2026 Banks are in the firing line at the Budget and in a meeting with bosses on Tuesday chancellor John Healey played coy on any increased rates. In this week’s column Samuel Norman looks at what trade-off could be made. Also on the cards, fresh data shows fintechs are lurching ahead of the incumbents on customer [...]
UK fintech Wise in tie-up with Oaknorth as it beefs up infrastructure division October 6, 2026 UK fintech Wise is set to reveal a partnership with small business lender Oaknorth as the group looks to make its infrastructure arm a driving force. The cross-border finance firm’s tie-up with Oaknorth will see the latter adopt Wise’s international payments engine directly into its own banking platform for small businesses. Fintechs and challengers have [...]
As it happened: FTSE 100 jumps as oil price eases after crude exports rise October 6, 2026 Welcome back to City AM‘s FTSE 100 liveblog. The oil market is getting some relief as crude exports recover but the price of a barrel is stubbornly holding over the $100 mark. Brent crude – the international benchmark for oil prices – traded near $100 per barrel on Tuesday morning after declining in the previous session. It [...]
Monument Bank boss: Wealthy Brits in ‘fear’ ahead of punishing Budget October 5, 2026 Wealthy Brits are in a state of “fear” ahead of the forthcoming Budget, according to a London bank chief, as economic turmoil and speculation of more punishing tax raids ramp up. Ian Rand, the boss of Monument Bank, said affluent Brits were raising concerns over “certainty” and “getting things wrong” when attempting to protect their [...]
UK bank bosses and John Healey set for tax showdown October 5, 2026 When banking lobbyists geared up for an offensive ahead of the 2025 Budget, a tax cut barely made the wishlist. Modest in their ambitions, advocates were preparing to settle for anything that didn’t see their already eye-wateringly high tax bill rise. That is until, City AM understands, officials advised them to make a cut a [...]
‘Disastrous’: Average five-year fixed mortgage rate surges to six per cent October 5, 2026 The average five-year fixed mortgage rate has broken the six per cent mark for the first time in three years after a fresh raft of lenders hiked prices. The typical five-year agreement has hit six per cent, according to Moneyfacts, while the average two-year is a whisker behind at 5.98 per cent. It is the [...]
Raising bank taxes will reduce jobs, former Chancellor Hunt warns Healey October 5, 2026 Former Chancellor Jeremy Hunt has issued John Healey a major warning over any increase to the level of taxes paid by UK banks ahead of the forthcoming Budget. The top Tory MP, who has sat on the back benches since Labour came to power in 2024, said Healey must ignore the “siren voices” calling for [...]
As it happened: Oil stockpiles ‘scarily thin’; BT jumps on TalkTalk rescue deal October 5, 2026 Welcome back to City AM‘s FTSE 100 liveblog. Markets are hoping to claw back some of last week’s losses to kick off the week after a global bond rout set ripples through the world’s top exchanges. The FTSE 100 is gaining on Monday, reversing some of its losses from Friday. This morning, Brent crude – the international [...]
As it happened: Stocks bounce as G7 approves emergency oil release after bound rout October 2, 2026 Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: The liveblog has ended.No liveblog updates yet. Load more