Former Goldman Sachs and HSBC chief to run America’s Cup April 7, 2026 A former Goldman Sachs and HSBC boss has been appointed the first chief executive of the newly-formed America’s Cup Partnership. America’s Cup Partnership was set up following a new commercial agreement between the defending champions, The Royal New Zealand Yacht Squadron, and the British challenger, The Royal Yacht Squadron. And Marzio Perrelli, former chief executive [...]
Goldman Sachs flagship private credit fund bucks industry sell-off April 7, 2026 Goldman Sachs’ flagship private credit fund has said investors looked to pull less than five per cent of their holdings in the first three months of this year, dodging an industry-wide redemptions wave that has forced some rivals to gate their funds. The investment bank’s direct lending arm, which functions like a private equity fund [...]
Interest rate on student loans to be capped April 7, 2026 Interest on student loans will be capped, in an attempt from the government to draw a line under a political row which has engulfed Westminster. Labour has announced that maximum interest rates on Plan 2 and Plan 3 student loans will not rise beyond six per cent from the next academic year starting in September. [...]
US AI firms team up to avoid another Deepseek moment April 7, 2026 US artificial intelligence (AI) heavyweights are together stepping up to protect their commercial edge, as Chinese rivals increasingly chip away at their pricing power. Google, Anthropic and OpenAI have begun sharing information on rivals trying to replicate their models through distillation, Bloomberg reported on Tuesday. The united effort has been coordinated through an industry non-profit, [...]
Premier League criticise government over proposed AI copyright reform April 7, 2026 The Premier League has criticised the government over proposed changes to copyright laws relating to the use of AI. The reforms, which have been criticised by a plethora of musical artists, are aimed at making the UK an attractive tech hub, but have been met with concern relating to ownership of copyright information and access [...]
JP Morgan to build Canary Wharf’s tallest tower – if there is a tax incentive April 7, 2026 JP Morgan has been given the green light to build Canary Wharf’s largest tower but questions still remain over controversial tax incentives to lure the Wall Street titan in. The US banking behemoth has been in talks with officials from London City Airport regarding height restrictions for the tower. The bank is understood to have [...]
Bill Ackman’s Pershing Square launches bid for Universal Music Group April 7, 2026 An investment company helmed by billionaire hedge fund investor Bill Ackman has offered to buy the world’s largest music company in a $63bn bid. Pershing Square said on Tuesday it plans to form a new US-listed company through a merger with Universal Music Group (UMG), pulling its Amsterdam listing. The deal would give Universal investors [...]
‘Cracks are showing’: Asylum contract deadline pushed back as pressure on Labour grows April 7, 2026 The Home Office has pushed back a crucial deadline for private sector companies to bid for a key asylum accommodation contract, piling pressure on the government to see through its effort to reform the wider immigration system. A deadline for businesses to engage the Home Office on a new contract for managing asylum accommodation has [...]
Virgin Money swallowed up by Nationwide as top boss exits April 7, 2026 The boss of Virgin Money is set to depart the firm later this years as the UK bank fully consolidates into the Nationwide umbrella. Chris Rhodes took the reins at Virgin Money following its acquisition by Nationwide in late 2024. Before this post, Rhodes served as finance boss at the UK’s largest building society for [...]
FTSE 100 Live: Stocks dip ahead of Trump’s Iran deadline April 7, 2026 Good morning and welcome back to the City AM liveblog. The London market is set to return from the bank holiday break with a major hangover. Whilst the City enjoyed an Easter break, volatile trading continued with Brent crude – the international benchmark for oil – hovering around the $110 mark after see-sawing between gains [...]