Mel Stride vows ‘Big Bang’ as he targets careful City Politics Shadow Chancellor Sir Mel Stride is set to promise a new “Big Bang” on City regulation in a speech at a Conservative conference this weekend harking back to Margaret Thatcher’s financial reforms. Stride is set to decry the lack of risk-taking across the UK economy and suggest regulation has been a “vast yoke” on businesses. [...]
Revolut makes second bid for US banking permit Fintech Revolut has made its second play for a US banking licence to crack the North American market as efforts for a UK permit continue to drag on. The London-born fintech juggernaut said on Thursday it had filed for a US bank charter as it named its new boss for the North America region. Nik Storonsky, [...]
Wood Group hit with £13m fine as engineering titan set to exit City Energy Scottish engineering titan John Wood Group has been slapped with a hefty fine after it produced inaccurate information in its financial results. The London-listed firm will cough up £13m following an investigation from the Financial Conduct Authority (FCA) concluding its “accounting judgements were inappropriately influenced by its desire to maintain previously stated financial results”. The [...]
Meet Reeves’ outsider tasked with steering the City to growth March 3, 2026 The City has rolled out the red carpet for the banking watchdog’s new chief after Katharine Braddick, a seasoned veteran of the financial trenches, was named on Friday as the successor to Sam Woods. For a cool £314,000 a year, she’s set to take on the brief of steering the UK’s banking sector. Chancellor Rachel [...]
Sunak pushes deregulation as North Sea pressure grows March 1, 2026 Rishi Sunak has urged Rachel Reeves to go further and faster on deregulation to revive growth, as eight former UK energy ministers call on the government to rethink its stance on North Sea oil and gas. The former prime minister wrote in a Sunday Times column that Reeves deserved credit for delivering a Spring Statement [...]
Revolut: Inside Nik Storonsky’s $75bn fintech empire still waiting for its crown February 24, 2026 In Revolut’s shiny new Canary Wharf headquarters, the command ‘Get Sh*t Done’ is bolted onto the walls. The unconventional office mantra is a stark reminder of co-founder Nik Storonsky’s acerbic, straight-talking manner that has kept the gas pumping at the UK’s most valuable fintech since it opened for business in 2015. “Whenever a target is set, [...]
Buy now, pay later providers set for £3bn hit in ‘regulatory reset’ February 11, 2026 Providers of buy now, pay later services are set to feel the crunch as the UK’s financial watchdog tightens its regulatory focus on the fast-growing industry. Merchants and lenders are set to take a combined hit of as much as £3bn following the regulation overhaul by the Financial Conduct Authority (FCA), according to its own [...]
Payments watchdog won’t be abolished ‘any earlier than 2027’ February 4, 2026 The boss of the payments watchdog has said he doesn’t expect the regulator to be officially abolished any earlier than the first quarter of 2027 as criticism grows over the slow progress of reforms in the sector. David Geale, managing director at the Payment Systems Regulator (PSR), said he had “not seen the outcome” of [...]
Exclusive: Starling’s top investor withdraws support for London IPO February 4, 2026 Starling’s elusive billionaire backer has gone cold on his ambition for the digital bank to list in London, City AM can reveal, in a move that will heighten fears of the fintech heading to New York for its highly-anticipated IPO. Harald McPike had lobbied for the group to launch its initial public offering in London [...]
UK payments stuck with ‘bolted on’ European regulation, says PSR boss February 2, 2026 The boss of the UK’s payments regulator has said the body’s consolidation with the City watchdog will allow it to ditch overhanging red tape from Europe. David Geale, who heads up the Payments System Regulator (PSR) and leads on payments at the Financial Conduct Authority (FCA), said: “There are bits of payments regulation that have [...]