OpenAI-backed fintech raises $1.6m to tackle regulation October 15, 2026 A London fintech backed by employees of OpenAI and some of the world’s biggest banks has raised $1.6m (£1.2m) to help financial firms navigate mounting regulatory requirements using artificial intelligence. Relace, founded by a former lawyer and an AI engineer, has secured the pre-seed funding in a round led by Boost Capital, with backing from [...]
As it happened: FTSE 100 surges as London swerves Asian tech sell-off; surprise GDP growth October 15, 2026 Welcome back to City AM‘s FTSE 100 live blog. Stocks are set to slip on Thursday morning despite a strong close yesterday for the UK’s blue-chip index. The ONS will reveal the rate of GDP growth for August this morning, which economists expect to reveal that the economy has shrunk. Stick with us throughout the [...]
Law firms’ billing model faces disruption as clients turn to AI DIY advice October 15, 2026 Law firms are facing a new challenge as corporate clients are increasingly using their own in-house legal teams and AI tools to do legal work themselves, threatening the traditional growth and revenue model. According to new research from HSBC in their yearly UK Law Firm Strategy and Investment Survey, almost three-quarters of 100 law firms [...]
The worst thing we could do with AI right now? Slow down October 15, 2026 AI doomsday headlines are naturally sparking fear, but the worst thing we could possibly do right now is slow down, writes David Grainger.
Get involved with the UAE if you want to grow your business October 15, 2026 My message to ambitious British businesses looking for growth is simple: get involved with the UAE, writes Lord Mervyn Davies.
UK banks could unleash cash buffers to spur economy, says top Bank of England regulator October 15, 2026 UK banks are holding excessively large “rainy-day funds” that could instead be deployed to boost economic activity, according to a top regulator at the Bank of England. David Bailey, executive director of Prudential Policy at the Bank of England, told City AM the watchdog had kicked off talks with international peers over how to simplify [...]
Mark Kleinman: Every Lidl helps a new era of supermarket mergers October 15, 2026 Mark Kleinman is Sky News’ City editor and the man who gets the Square Mile talking in his City AM column. Every Lidl helps a new era of supermarket mergers Every Lidl helps. For that matter, every Aldi does too. With apologies to the creators of Tesco’s famous advertising slogan, that might be the neatest way to encapsulate [...]
British firms reshape workforce for AI amid staff resistance to office return October 15, 2026 Top bosses at British businesses have said lingering resistance to returning to the office remains a challenge, as City firms focus on redesigning roles to support human-AI collaboration. According to KPMG’s 2026 global CEO outlook, investment in AI remains a top priority for global business leaders, as most British bosses (87 per cent) expect to [...]
‘Nothing can stop it’ – The state expands like the horror film Blob October 15, 2026 The 1958 classic horror film The Blob scored mixed reviews on its release, with critics lamenting the poor acting and weak dialogue. Posters for the movie warned that the alien blob “devours everything in its path” and “nothing can stop it” – which is why, half a century later, Michael Gove resurrected and popularised the [...]
On this day: Germany introduces the Rentenmark to curb hyperinflation October 15, 2026 On this day, 15 October 1923, Germany introduced the Rentenmark to curb hyperinflation, and it worked. Eliot Wilson tells us more.