As it happened: FTSE 100 mixed; oil breaks $91 as Trump rules out new US-Iran ceasefire August 18, 2026 Welcome back to the City AM liveblog. Oil prices are marching higher after Donald Trump refused to extend the ceasefire between the US and Iran following its expiration on Monday. Brent crude – the international benchmark for oil prices – broke above $91 per barrel as tensions persisted over the Strait of Hormuz and a [...]
Monzo chair makes early exit after boardroom rift August 17, 2026 The chair of Monzo will make an early exit from the UK fintech next month following a period of a turmoil in the neobank’s boardroom. Garry Hoffman will step down from his role as soon as next month, ending his tenure over a year earlier than his nine-year term permits. He will be replaced by [...]
As it happened: FTSE 100 drops as oil prices rise after Trump makes Hormuz threat August 17, 2026 Welcome back to the City AM liveblog. Oil prices have edged back up to more than $89 per barrel after the war of words between the US and Iran over the Strait of Hormuz continued over the weekend. Donald Trump has threatened to seize the narrow waterway and make it a US territory, marking a [...]
Revolut chatbot goes rogue by charging users to cancel subscription August 13, 2026 Revolut’s chatbot has threatened to charge customers who wanted to cancel their premium subscription because a key membership perk was reduced, City AM understands. The digital bank’s automated assistant – formerly known as Rita, or ‘Revolut’s Intelligence Troubleshooting Assistant’ – has ordered customers to pay a break fee when they requested to cancel their subscription. A [...]
Revolut takes flight with launch of new airport lounges August 13, 2026 Revolut is planning to build up its physical presence in Europe with the launch of its own airport lounges. The digital banking giant has said from next year it will begin rolling out premium lounges across its priority markets. The London-based group has picked Copenhagen Airport for the 2027 debut, which Hadi Nasrallah, director of [...]
Airtel and Sumup set to kick off London’s fintech IPO test August 12, 2026 Airtel and Sumup are set to hand a potential $20bn boost to the London Stock Exchange with long-awaited IPOs that could help pave the way for a host of fintech firms to come to market. Telecommunications giant Airtel is planning to list its mobile money business in London before the end of the year, its [...]
The European fintech American dream is being called into question August 12, 2026 A double US banking application blow has called into question the fintech dream of landing on Wall Street. In this week’s column, Samuel Norman takes a look at the expansion roadmap for Europe’s top fintechs as well as the latest response to the booming profits in UK banks half-year reports. Denied, denied, withdrawn. That is [...]
World Cup leads UK spending boost as confidence rebounds August 11, 2026 Consumer spending across the UK jumped in July as Brits’ splurged on a summer of sport and sunshine, fresh data from Barclays has shown. Card spending jumped two per cent to its highest level in 12 months following a surge in transactions at pubs, bars and clubs during England’s World Cup run. Overall hospitality and [...]
Revolut lands fresh banking licence after wrestling with Europe friction August 10, 2026 Revolut has been granted a new full-fat banking licence with approval from the European Central Bank following previous friction with the prudential regulator. The $75bn fintech giant – which is currently undergoing a secondary share sale expected to value it at $115bn – revealed on Monday its European arm will accelerate its continental push under [...]
Plus500 splashes cash on investors after US expansion bears fruit August 10, 2026 Plus500 has kicked off another round of bumper returns to shareholders after delivering its highest customer income in five years following expansion into the US market. The FTSE 250 fintech recorded revenue of $462.9m for the first half of the year, up 12 per cent year-on-year. Meanwhile customer income, which measures revenue generated directly from [...]