Quantexa chief says £175m HMRC deal will ‘protect taxpayers’ money’ May 14, 2026 HM Revenue and Customs (HMRC) has signed a £175m, 10-year partnership with London-based Quantexa to overhaul its data infrastructure, as the tax authority scrambles to recover billions lost to evasion and sophisticated fraud. The deal – one of the largest tech deployments in the public sector – is designed to fix the “fragmented” legacy systems [...]
As it happened: Market jitters as Streeting set to make bid against Starmer May 13, 2026 Good morning and welcome back to the City AM liveblog. UK borrowing costs are taking a modest breathe this morning after settling much higher yesterday after a session jam-packed with political turmoil. The 10-year yield on UK gilts spiked ten basis points to over 5.1 per cent on Tuesday. Meanwhile, the 30-year yield soared to [...]
AI in banks? It’s all marketing and FOMO May 13, 2026 As banks are rush to beef up their AI capacity Samuel Norman recounts the sentiment shared across the industry at a conference in Copenhagen last week. Like all sectors, banks are chasing the promises of AI. The industry is shrugging off growing fears around job losses and rushing to beef up their AI credentials. Last [...]
Ebay rejects Gamestop’s not ‘credible nor attractive’ $56bn bid May 12, 2026 Global commerce giant Ebay has dismissed an audacious play from video game retailer Gamestop that sought to merge the two companies into a new titan to take on the dominance on Amazon. Ebay’s chairman Paul Pressler said the firm’s board had “thoroughly reviewed [the] proposal and has determined to reject it”. In a letter to [...]
Burges Salmon and Wexler roll out firm-wide legal AI partnership May 11, 2026 Leading UK law firm Burges Salmon is rolling out a new company-wide partnership with legal tech startup Wexler to aid lawyers in litigation work, City AM can reveal. The Bristol-headquartered legal practice said Wexler is “a reliable option” and the firm-wide partnership follows “a successful integration” of adopting Wexler in the Dispute Resolution team in [...]
City calls on tech firms to tackle Britain’s fraud epidemic May 8, 2026 The City of London Corporation is calling on tech firms to help build a new digital identity verification network, designed to crack down on fraud and reduce the growing costs of financial scams. Under the plans, shared with City AM, consumers would verify their identity once with a trusted provider before reusing those credentials across [...]
FTSE 100 Live: Stocks down on election day; oil back below $100 as Iran deal hangs in balance May 7, 2026 Good morning and welcome back to the City AM liveblog. It’s local election day in the UK and Keir Starmer’s premiership is hanging in the balance as his Labour Party prepares to take a drubbing in council boroughs across the country. Gilt yields rose at their fastest rate earlier this week as the market prepares [...]
Revealed: The 2026 City AM Awards Winners May 7, 2026 Around 500 guests enjoyed a night of celebration at London’s Guildhall on Wednesday 6 May where the winners of the 2026 City AM Awards were crowned. From 60 finalists across 12 categories, the judges chose their champions. Personality of the Year Greg Jackson CBE The entrepreneur and CEO of Octopus Energy has become one of [...]
Fractile vs Nvidia: can a UK startup undercut AI’s chip darling? May 6, 2026 A little-known British startup is beginning to test one of the biggest assumptions underpinning the AI boom: that Nvidia will remain the unavoidable centre of the ecosystem. Founded in 2022 by Oxford researcher Walter Goodwin, Fractile is attempting to redesign how AI chips work altogether, with a focus on speed and – crucially – cost. [...]
Corvera co-founder: Brits have it too comfortable May 5, 2026 The boss of Corvera has said Brits take a too comfortable, risk-averse approach after moving his AI startup from London to San Francisco. Corvera co-founder and chief executive Christopher Kong, an Oxford graduate who launched a fast-growing vegan food range before setting up the AI business in October last year, said he found it easier [...]