Mortgage rates at five-month high ahead of Bank of England decision September 14, 2026 Borrowers are bracing for more mortgage woes ahead of the Bank of England’s interest rate decision this week. Mortgage rates have climbed to their highest level in nearly five months after some 25 lenders hiked their deals in the last week including the likes of HSBC, Lloyds and Nationwide. The average two-year fix has risen [...]
Revolut facing extortion threat after hackers steal customers’ data September 14, 2026 A group of Revolut hackers are threatening to release stolen customer data unless they receive payment from the fintech, after the company inadvertently handed over a trove of users’ private information. The digital banking giant said over the weekend a “very limited” number of customers had been affected by an impersonation scam, which compromised data including [...]
HSBC shares dip as finance chief announces exit September 10, 2026 HSBC is on the hunt for a new chief financial officer after the bank revealed its finance head Pam Kaur would retire after two years in the job. Kaur, who has been with the company for 13 years, is set to leave her role at some point in 2027 and will not stand for re-election, [...]
Revolut US licence win ‘strengthens pre-IPO story’ September 9, 2026 Revolut’s conditional approval for a US banking licence has been hailed as a “consequential” step in the fintech’s march towards a long-awaited public debut. The digital bank landed approval from the Office of the Comptroller of the Currency (OCC) for its American national bank charter last week, clearing a major hurdle to launch its operations [...]
Five lenders hike mortgage prices as interest rate threat looms September 8, 2026 Five lenders hiked the price on their mortgage deals to kick off the week as the threat of the Bank of England increasing interest rates looms over the UK economy. Barclays has raised its rates on a fleet of products by nearly 0.2 per cent, with its two-year fixed rate rising to 5.53 per cent [...]
The City may not be woke, but is it waking up to wellness? September 8, 2026 Photis Kassianides worked on equity trading floors before setting up a divorce coaching service. He writes about the destagmitisation of wellness.
Citi hit with £5m fine for violating UK sanctions on Russia September 2, 2026 Citi has been hit with a fine of nearly £5m after regulators found it violated the UK’s sanctions regime on Russia. The Wall Street giant’s London branch was found to have processed £19.7m in illicit transactions spanning 970 payments. The Office of Financial Sanctions Implementation (OFSI) ruled that, in one instance, Citi failed to freeze [...]
Can OSB’s new boss cut through the noise? September 2, 2026 A FTSE 250 bank has a new boss and plenty of challenges to confront . In this week’s column, Samuel Norman looks at what could be next for OSB. Enrique Labiano confronted a tricky inheritance when he got his feet under the desk on his first day at the helm of OSB on Tuesday. The [...]
How the Treasury got ‘fed up’ with the Bank of England’s payments plan September 2, 2026 The government moved to more closely monitor the Bank of England’s overhaul of the UK’s payments system after growing frustrated with the sluggish pace of the plans, industry figures have said. The Treasury revealed last week it would begin tracking the central bank’s progress on payments and digital currencies by introducing a new secondary objective [...]
FCA ‘worked backwards’ to justify motor finance redress, say lenders September 1, 2026 A trio of motor finance lenders have accused the City watchdog of “working backwards” to justify its redress scheme that is set to cost the industry billions. In new documents, Mercedes-Benz’s financial services arm, which has set aside as much as £400m in payouts for the car mis-selling scandal, said the Financial Conduct Authority’s (FCA) [...]