Meta unveils $95bn share sale as AI spending drains cash reserves October 26, 2026 Meta has announced plans to raise up to $95bn (£71bn) through share sales to fund its AI expansion, as soaring infrastructure costs put pressure on the Facebook owner’s cash flow. The tech giant said on Monday it would raise $35m through public equity offerings, followed by a further $60bn through a programme allowing it to [...]
Farage: ‘Loathsome’ banks should not be hit with new tax October 26, 2026 Nigel Farage has said that banks should not be hit with new taxes at this week’s Budget in a partial U-turn on his previous position. Earlier this year, the Reform UK leader vowed to scrap interest payments lenders receive on deposits at the Bank of England, a move that would be widely regarded as a [...]
The anatomy of a bank tax: what can the UK learn from Europe? October 26, 2026 With days to go until John Healey delivers a Budget expected to target banks with a cash raid, Samuel Norman looks at the UK bank tax framework and other experiments across Europe. For years City lobbyists managed to bat away demands for a bank tax hike. As Chancellor, despite delivering two tax-heavy Budgets, Rachel Reeves [...]
Activist investor revives Auction Technology Group campaign October 26, 2026 The notorious activist investor behind a failed bid to buy Auction Technology Group has revived its campaign against the FTSE 250 firm’s management, calling for a new chair and a strategic review that could result in a sale. Fitzwalter Capital, which is Auction Technology’s (ATG) largest shareholder, called on investors to oust incumbent chair Scott [...]
Fifa election twist as Prince Ali drops ‘coercion, threats and bribes’ claim October 26, 2026 Infighting in Asia over the future of Fifa has taken a fresh twist after Prince Ali bin Hussein of Jordan appeared to retract claims of “coercion, threats” and “bribes”. Prince Ali spoke out in a social media post on Sunday, days after the head of the Asian Football Confederation, Bahrain’s Sheikh Salman bin Ibrahim Al [...]
Anthropic reveals $80bn loss as AI giant files for blockbuster IPO October 26, 2026 Anthropic has revealed an $80.7bn (£60bn) first-half loss as the AI giant filed for a blockbuster US stock market listing that could value the company at up to $2 trillion. The Claude developer published its long-awaited IPO prospectus with the US Securities and Exchange Commission on Monday, offering investors their first detailed look at its [...]
Revolut founder accused of hatching a ‘scheme’ to avoid fees in superyacht row October 26, 2026 The billionaire founder of Revolut has been accused of hatching a “scheme” to avoid paying brokerage fees in a row over a superyacht said to cost €350m. In new legal filings, seen by City AM, Nik Storonsky is accused by a luxury superyacht broker of “secretly negotiating” to buy the vessel “behind the back” of [...]
Financial advisers feel the effects of Reeves’ final tax raid as Healey’s Budget looms October 26, 2026 Financial advisers are feeling the effects of Rachel Reeves’ final Budget, as families brace for billions of pounds of tax rises regardless of what chancellor John Healey announces at the despatch box later this week. From April next year, the sweeping shake up to the tax system announced by Reeves in 2025 will come into [...]
Sheikh Mansour doubles down on Manchester City with £100m injection despite legal row October 26, 2026 Sheikh Mansour has reaffirmed his commitment to City Football Group despite Manchester City’s ongoing legal battle with the Premier League by investing a further £100m. Filings at Companies House show that 11,327,163 new shares in CFG were allotted on 14 October, raising the nine-figure sum. A spokesperson for CFG confirmed to City AM that the [...]
The Big Bang transformed the City of London – 40 years on, can it happen again? October 26, 2026 The City of London was changed forever by a sweeping package of deregulation in 1986, known as the Big Bang. Forty years on – and facing existential threats – can the Square Mile reinvent itself again? When Alasdair Haynes left work as a young options trader on Friday 24th October 1986, he didn’t know what [...]