JP Morgan bulks up financial cushion as Dimon warns of uncertainty October 14, 2025 JP Morgan has bulked up its financial cushion against loan losses as chair Jamie Dimon warns of heightened risk and global uncertainty. The lender set aside an additional $810m (£610.2m) to cover potential losses from unpaid loans. This defensive money consisted of $608m earmarked for consumer loans – such as credit cards and mortgages – [...]
‘Exceptional’ M&S chair Archie Norman cleared for three more years in role October 14, 2025 Marks and Spencer’s board has unanimously extended Archie Norman’s tenure as chair in light of his “exceptional” performance over the last nine years. While it is uncommon for chairs to stay longer than nine years, the board of M&S agreed that Norman’s “deep knowledge of the business, drive and unique experience” were invaluable to the [...]
TalkTalk to cut more jobs in ‘necessary’ move October 14, 2025 TalkTalk has announced it is looking to cut up to 100 jobs in its consumer business in a move it has described as “necessary”. The company, which has bases in Salford and London, said the move forms part of its bid to ‘returning to its challenger roots’ to become more ‘focused, agile, and dynamic’. A [...]
AI, robot: Tech firm Dexory lands $165m funding round October 14, 2025 Autonomous warehouse intelligence firm Dexory has marked the next phase of its expansion after sealing $165m (£124m) in fresh funding. The firm, which uses autonomous robots, AI and digital twin technology, said the funding comprises $100m in a Series C equity raise alongside $65m in debt. The round was led by LTS Growth and Endeavor [...]
State pension set to rise by more than expected in blow to Reeves October 14, 2025 The state pension is set to rise by more than previously expected after the Office for National Statistics (ONS) revised up its figures on wage growth for July, piling extra costs on public finances for Chancellor Rachel Reeves at this year’s Budget. The ONS revised up its wage growth figure for July from 4.7 per [...]
Leeds Reforms trigger wave of recruitment in legal banking October 14, 2025 Job vacancies for banking lawyers are expected to soar, driven by the government’s Leeds Reforms which seek to unlock capital and overhaul the ring-fencing framework. Labour market analytics from Vacancysoft reveal that Britain’s legal sector is predicting significant growth in banking roles, both in private practice and in-house at major banks. The report projected a [...]
Cisco: Only 16 per cent of UK firms ready to deploy AI safely October 14, 2025 Britain’s race to embrace AI could stumble before it starts, as new research from tech giant Cisco has revealed that just 16 per cent of UK firms are adequately equipped to scale AI safely across their operations. The company’s ‘AI readiness index’, City AM can reveal, shows a sharp divide between businesses racing ahead and [...]
Revolut’s UK banking licence bid faces global risk scrutiny October 14, 2025 Revolut’s pursuit of a full UK banking licence has hit another stumbling block as regulators seek further information on the fintech’s risk controls in light of its accelerating overseas growth. Officials at the Bank of England have sought commitment from the digital banking juggernaut that it will bulk up its risk management infrastructure to match [...]
Detached, ignorant, and selfish: City broker blasts the Treasury October 14, 2025 City broker Shore Capital has blasted the Treasury as incapable of creating economic growth, as Britain gears up for a tax-raising budget. Rumours of various taxes that Rachel Reeves might introduce in this Autumn’s budget in an attempt to plug a £40bn gap in the nation’s finances have been swirling, despite strong pushback from companies and consumers. [...]
Bellway says fears of Autumn tax raid has hit housing demand October 14, 2025 Housebuider Bellway has said that uncertainty over possible tax changes in the upcoming UK budget has dampened demand for housing. Rumors of various property taxes that Rachel Reeves might introduce in this Autumn’s budget in an attempt to plug a £40bn gap in the nation’s finances while overhauling a complex system of levies and charges have been [...]