Chrysalis upgrades Starling valuation despite cut-price Boden sale Fintech Chrysalis Investments has lifted the value of its stake in Starling despite the recent cut-price share sale by the fintech’s founder Anne Boden. The British investment trust said on Monday its holding carried a price tag of around £403.9m, up by £47.9m following an external review. The trust holds around an 11 per cent stake [...]
As it happened: FTSE 100 reverses losses as oil drops to $105 FTSE 100 Live Welcome to City AM‘s FTSE 100 liveblog. It’s a new week in the City and global markets are gearing up for a chain of big events. Chief among them is the US midterms, which could have a major impact on the ongoing conflict in the Middle East that has sent the price of oil soaring. [...]
HSBC ‘encouraged’ by Burnham agenda despite tax threat and growth downgrade Banking HSBC’s finance boss said the bank is “very encouraged” by Andy Burnham’s agenda, despite slashing its UK growth forecast ahead of a potential tax raid. Pam Kaur, HSBC’s chief financial officer, said: “The UK is our home market, our focus in the UK is supporting customers with their growth ambitions.” But when asked about a [...]
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 [...]
Revolut to take fight to high street banks with UK personal loans October 26, 2026 Revolut is ramping up its battle with high street banking giants with the launch of personal loans in the UK market. The digital bank said on Monday it would begin offering loans between £2,000 and £25,000, which will be repayable over one to five years. The firm has insisted loans will have “transparent terms” and [...]
Starling founder Anne Boden offloads stake at slashed £1.7bn valuation October 20, 2026 Starling founder has offloaded her remaining stake in the UK fintech at a valuation far below the price the firm was targeting in its latest secondary share sale. Anne Boden has sold her remaining 2.7 per cent stake in Starling as she begins work on a new AI project. She sold the stake at a [...]
UK watchdogs push for answers on Google Cloud outage after major banks disrupted October 20, 2026 UK watchdogs are pushing for answers following an outage at Google Cloud that has led to a major services disruption across British companies on Tuesday. Google confirmed it was facing “issues” in its “europe-west2 region,” which refers to London according to the firm’s cloud service table. It has affected dozens of websites across the UK, [...]
Higher taxes will ‘kick UK fintech when it is down’, Healey warned October 19, 2026 Venture capital investors have warned that higher taxes on financial services would have trickle-down effects and “clip the wings” of Britain’s already capital-starved fintech sector. Start-up investors that fund the UK’s financial technology industry told City AM the sector’s struggles to access cash would be amplified by a tax hike on top banks and increases [...]
What could a bank tax raid mean for JP Morgan’s Canary Wharf mega-tower? October 16, 2026 When Jamie Dimon and John Healey first exchanged remarks, the world’s most influential banker told the Chancellor how important it was to get public policy right. The Wall Street chief is understood to have said the right public policy was the key to solving the issues facing global economies, according to those close to the [...]
Plus500’s super-app ambitions risk re-telling a familiar London story October 14, 2026 Plus500 laid out plans for a super-app across the Atlantic, in this week’s column Samuel Norman looks at how it could frame their future. Also on the agenda, Healey continues pre-Budget summits and does anyone still care about the digital pound? Is a London-listed fintech turning to the US for its monumental ‘super-app’ a point [...]