Blue Owl caps private credit redemptions after investors try to pull $5.4bn April 2, 2026 Investors in Blue Owl’s multi-billion dollar private credit fund have asked to withdraw around a fifth of their money in another dramatic escalation of jitters across Wall Street and the financial ecosystem. The asset manager’s flagship $36bn fund saw redemption requests hit 21.9 per cent of outstanding shares in the first quarter, while its tech-focused [...]
Revolut slapped with eight-figure fine in Italy over misleading customers April 2, 2026 Revolut has been slapped with a fine by the Italian competition watchdog after the firm was accused of misleading customers over its fees and terms of its investment products. The London-based fintech giant is expected to cough up €11.5m (£10m) after the Italian regulator found advertisements that implied customers could trade with 0 per cent [...]
Lloyds shares slump amid questions over motor finance legal battle April 2, 2026 Lloyds shares slumped this morning even as the banking giant declared it would not have to top up its provisions following the confirmation of a motor finance redress scheme. The group – which owns the UK’s largest car finance lender Black Horse – said it had “undertaken an assessment of the implications and impact” of [...]
UK banks blast regulations for ‘penalising’ good risk management April 2, 2026 Top lenders have laid bare their frustrations with UK banking regulation in a bombshell new report that urges the removal of “excessive conservatism”. In response to the Bank of England’s review of capital requirements, the Association for Financial Markets in Europe (AFME) – which represents over 150 global banks, including the UK’s Big Four – [...]
Monzo and Revolut take banking battle to the playground April 1, 2026 Banks are turning their attention to the younger generation and in this week’s column Samuel Norman takes a look at the money to be made with Gen Alpha. The Tooth Fairy is losing her magic touch. After centuries of cultural dominance in the under-the-pillow money market, the primary dealer of calcium-for-cash faces a hostile takeover. [...]
FCA slashes banks’ motor finance payouts as compensation scheme finalised March 30, 2026 City banks are set to face a more than £9bn motor finance bill after the UK’s financial watchdog laid out plans for its long-awaited motor finance redress scheme in a major U-turn after months of backlash. The Financial Conduct Authority (FCA) revealed the details of its industry-wide redress scheme for the car mis-selling saga on [...]
For FSCS sake: Meet the body that protects Britain’s savers in a financial crisis March 30, 2026 As echoes of 2008 percolate through the banking system, the body that serves to protect Britain in a financial crisis says it’s ready to weather any storm. A combination of fears around private credit, the “stretched” value of artificial intelligence firms and more recently, concerns around a global energy shock, have made top bankers sound [...]
Arbuthnot chief: High street banks’ push into wealth is no threat March 30, 2026 One of London’s oldest private banking institutions has sounded off on the influx of the British banking giants looking to grab a slice of the wealth management pie. Andrew Salmon, the boss of Arbuthnot Latham, told City AM that when big bank rivals attempt to go “stratospheric” with their thresholds, it would benefit from its [...]
Lloyds Bank forks out compensation after tech glitch hit nearly half a million March 27, 2026 Nearly half a million Lloyds Banking Group mobile app users were hit by the firm’s major tech glitch earlier this month with the bank now dishing out compensation payments to some of those affected. Up to 447,936 customers of Lloyds and group subsidiaries Halifax and Bank of Scotland saw other rogue transactions across their accounts [...]
NS&I under fire for ‘short-changing’ bereavers March 25, 2026 The UK’s state-owned savings giant is facing mounting backlash over its handling bereaved families’ savings. National Savings and Investments (NS&I) – formerly called the Post Office Savings Bank – has faced criticism for leaving families of deceased savers forced to call in lawyers to claw back their rightful cash. The Treasury-backed vehicle, which holds around £250bn [...]