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, [...]
Exclusive: Nationwide and Investec set to bid for alternative lender Aldermore September 15, 2026 Investec and Nationwide were among the firms circling alternative lender Aldermore yesterday as its South African owner Firstrand fielded offers for the company, City AM can reveal. London-listed Investec and building society Nationwide were both weighing bids to buy the UK bank ahead of a deadline for first round offers on Tuesday, sources said. First [...]
Wickes gains as Brits go budget in kitchen refurbs September 15, 2026 Wickes is benefiting from a slowdown in consumer spending as Brits switch to the value home improvement retailer and away from premium rivals, its boss has said. The FTSE 250 group posted a 2.1 per cent jump in revenue to £865m in the six months to June, buoyed by rising sales of big ticket items [...]
State pension to top £13,000 as triple lock piles pressure on Healey September 15, 2026 The state pension is set to rise by £490 next year as a result of the triple lock, adding to “pressures” facing Chancellor John Healey as he draws up his first budget. New earnings growth data released on Tuesday has indicated that the triple lock pension will rise by 3.9 per cent. The triple lock [...]
London-listed builder exits ‘challenging’ housing sector after property market slowdown September 15, 2026 A top listed construction firm has pulled out of the UK’s “challenging” housing sector after a slump in demand for new homes across the country. FTSE 250 firm Kier told shareholders on Tuesday that it is pulling all capital out of the residential property sector in a bid to “de-risk” its portfolio. The group’s pre-tax [...]
Private sector wage growth at lowest level in nearly six years September 15, 2026 Private sector wage growth remains at lows not seen in nearly six years in a sign that Britain’s labour market is weakening further ahead of a crunch interest rate decision for the Bank of England on Thursday. New data has shown that the wider UK jobs market cooled further over the summer, adding to a [...]
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 [...]
Rocco Forte Hotels’ Russian outpost pays out bumper dividend September 15, 2026 The ring-fenced Russian arm of Rocco Forte Hotels has paid its shareholders a dividend worth more than £3m, despite the luxury hospitality chain being accused of bankrolling Putin’s war machine in Ukraine by maintaining operations in Russia. Astoria Hotel Joint Stock Company – the holding group for Rocco Forte Hotels’ Russian portfolio – distributed £3.2m [...]
Branding on City skyscrapers? We should let our history do the talking September 15, 2026 The City of London has one of the most forward-looking planning departments in the country. They might not always get it right – and they certainly can’t please all of the people all of the time – but when it comes to the big picture I think they make the right calls. As a local [...]