Lloyds Bank: 3,000 jobs at risk in performance overhaul September 4, 2025 Lloyds Bank is planning a major overhaul of its operations that could put five per cent of workers on the chopping block. The bank is set to review its approach to performance management with the bottom 3,000 of the firm’s 63,000 employees at risk of losing their role. The new plans, as reported by the [...]
“Smart money” is doubling down on private equity – but are private investors missing out? September 3, 2025 Public pension plans, sovereign wealth funds and family offices keep bulking up their investments in private equity and private markets. Now, at last, private investors can get in. In July, the largest US public pension fund CalPERS (California Public Employees’ Retirement System) announced its best set of results in four years. It also bulked up [...]
Budget 2025: Banks to ‘bear the brunt of higher taxes’ September 2, 2025 UK banks will be the top target as Rachel Reeves looks to drum up cash in the Autumn Budget, a top economist has said. Chatter around a cash grab directed at banks has escalated over the last week after left-wing think tank the Institute for Public Policy Research (IPPR) proposed that the Chancellor raid the quantitative easing [...]
Klarna confirms second hit at New York listing in snub to London September 2, 2025 Swedish fintech unicorn Klarna has launched its second hit at a listing on the New York Stock Exchange after its initial attempt was derailed by President Donald Trump’s tariff onslaught. The buy now, pay later giant said its IPO price is expected to be between $35 and $37 per ordinary share and hopes to raise [...]
Revolut boss set for bumper payday as valuation swells to $75bn September 2, 2025 The boss of Revolut is set for a bumper payday as the fintech juggernaut kicks off a secondary share sale valuing the firm at $75bn (£55.9bn). London-based staff will be able to sell up to 20 per cent of their stake in the digital bank, Bloomberg first reported. Shares will be valued at $1,381.06 (£1,029). [...]
Zopa Bank expands payments grip with retail finance acquisition September 2, 2025 Digital bank Zopa has expanded its payments reach with a fresh takeover. The fintech has snapped up Rvvup – a platform designed to streamline businesses’ acceptance, collection and management of payments. Zopa said the acquisition will treble the size of its embedded finance business in two years, which covers the integration of financial products into [...]
The spectre of 2008 haunts banks’ push into private credit September 2, 2025 Britain’s biggest banks are trying to grab a slice of the rapidly expanding private credit market, but as they look to grow, memories of the financial crisis are coming back to haunt the lenders. The global private credit market notched $2 trillion (£1.5 trillion) assets under management in 2024 and is expected to grow to $2.8 trillion [...]
Finance bosses back AI despite job loss concerns September 2, 2025 The financial services industry is set to drive more investment into AI as the industry’s senior leaders turn bullish on the tech. More than half of UK institutions expect to up their AI investment in the next 12 months while one in five said they would maintain current levels, data shared with City AM revealed. [...]
Wise mulls UK banking licence after ditching London listing September 1, 2025 Money transfer firm Wise is looking into a UK banking license following the fintech ditching its primary listing on the London stock market earlier this year. The company has reached out to financial services heavyweights in the last two months regarding roles related to starting a banking business in the UK, according to The Times. [...]
Budget 2025: Lloyds, Natwest and Barclays brace for a tax raid? September 1, 2025 Ahead of the 2024 Autumn Budget, Prime Minister Sir Keir Starmer warned Labour’s first fiscal event was “going to be painful”. He added those with the broadest shoulders “should bear the heavier burden” as Chancellor Rachel Reeves battled against an alleged ‘£22bn black hole’ inherited from the Conservative government. After lobbying efforts, banks were spared [...]