Lloyds boss: Motor finance redress wipes 20-year profit off industry October 21, 2025 The boss of Lloyds Banking Group has warned the financial watchdog’s motor finance redress scheme could knock two decades of profitability off the car finance industry. Charlie Nunn, the bank’s chief, has doubled down on the lender’s previous warning shots, adding he didn’t think the scheme was “proportionate”. The FTSE 100 titan has pulled no [...]
JP Morgan beefs up seaside UK office as it backs ‘talent of tomorrow’ October 8, 2025 US banking juggernaut JP Morgan has announced a hefty UK investment as part of plans to beef up its home base in the country. The bank said it will invest over £300m into its Bournemouth campus, which will help facilitate a new building and upgraded facilities for the sites 5,300 employees. The firm – which [...]
Autumn Budget: Why are banks in Rachel Reeves’ tax crosshairs? October 7, 2025 The “pass the parcel” of Budget speculation has fallen back into the lap of the banking industry with the nation’s top lenders finding themselves as a potential subject of a November cash grab. Fresh reports have indicated Rachel Reeves is actively considering a raid on Britain’s banking giants – even as she continues to make [...]
Barclays, Citi, JP Morgan bosses sound alarm on bank tax September 25, 2025 Rachel Reeves has been handed a warning by top banking chiefs to prioritise stability for the financial services industry amid speculation of looming tax hikes. The bosses of UK banking giants have cautioned the Chancellor on potential tax rises and stressed the sector must remain competitive. Barclays’ boss CS Venkatakrishnan – known as the Venkat [...]
Stalling Starling revs up Engine in rebrand September 24, 2025 Veteran of the UK fintech industry Starling has overhauled its brand with a fresh colour palette, a new slogan and even a new name. The digital lender announced last week it would drop the word “Bank” from its banking arm’s name in a move analysts have described as a “significant” step in its evolution. The [...]
Banking watchdog launches deregulation push as tax fears grow September 22, 2025 Britain’s banking watchdog has laid out plans to slash regulation across the industry in a bid to sweeten the sector’s operating environment. In fresh proposals hoping to cut the red tape on the sector, the PRA identified 37 “individual reporting templates” which have “overlapping and complex requirements” in a bid to ease the administrative cost [...]
Two in five financial services firms lack safe AI controls September 11, 2025 As the financial services industry piles billions of pounds into artificial intelligence (AI), firms are lacking adequate measures to maintain safe usage, according to new figures. Fresh data from Big Four accountancy giant EY reveal 26 per cent of companies have no or limited controls in place to ensure AI systems adhere to laws and [...]
Finance bosses back AI despite job loss concerns September 2, 2025 The financial services industry is set to drive more investment into AI as the industry’s senior leaders turn bullish on the tech. More than half of UK institutions expect to up their AI investment in the next 12 months while one in five said they would maintain current levels, data shared with City AM revealed. [...]
Natwest and Lloyds shares lead £8bn plunge amid bank tax fears August 29, 2025 Shares in a number of Britain’s biggest banking giants tumbled on Friday as speculation that Rachel Reeves would use the sector for an easy cash grab ramped up. Natwest topped the FTSE 100’s fallers, losing over five per cent. Meanwhile, Lloyds was down nearly four per cent, Barclays just over two per cent, whilst HSBC [...]
Thousands face fines after HMRC misses CGT update August 29, 2025 Tax experts have warned that “tens of thousands” of people could fall foul of penalties this year after tech issues left HMRC’s online filing system unable to properly reflect the recent changes to capital gains tax as implemented in Rachel Reeves’ first budget last year. The chancellor’s Autumn Budget increased CGT rates on disposals of [...]