Banks keep up their end of Rachel Reeves’ tax bargain November 27, 2025 The banking industry has given Rachel Reeves some much-needed ammunition as she attempts to defend her tax-heavy Autumn Budget. After being spared from a highly-anticipated cash grab, a fleet of banks announced a fresh pump of capital in the UK economy. Britain’s largest retail bank Lloyds Banking Group unveiled £35bn of new finance for 2026 [...]
JP Morgan makes £10bn UK bet as banks dodge tax raid November 27, 2025 JP Morgan is set to double down on the UK with plans to build its largest European presence through a new tower in Canary Wharf. The US banking juggernaut said it intends to build a new 3m square feet tower in London, which will inject as much as £10bn over the next six years into [...]
Don’t penalise banks amid private credit jitters, Lloyds boss urges November 5, 2025 The chef executive of Lloyds Banking Group has weighed in on the bubbling tension in the private credit market with a stark warning. In a session with the House of Lords Financial Services Regulation Committee, Charlie Nunn said the UK needed to be “very careful not to make banks accountable for the risks of the [...]
War of words heats up as private credit bosses round on banks October 29, 2025 The war of words between banks and private credit ratcheted up on Wednesday, after a trio of bosses from private lenders rounded on claims their industry played a pivotal role in a string of recent debt-related collapses, branding it “misinformation”. During a fiery evidence session in the House of Lords, executives from alternative investment giants [...]
JP Morgan set to loosen crypto rules allowing Bitcoin as collateral October 24, 2025 JP Morgan is set to shake up its crypto rules with plans to allow institutional clients to use Bitcoin and Ether holdings as lending collateral. The new scheme will work with a third party to safeguard the crypto assets and follows the banking giant’s delving deeper into the world of digital assets. The US lender [...]
Another US lender tumbles as credit jitters accelerate October 24, 2025 Another mid-sized lender filed for bankruptcy in the US, highlighting the growing strain in American credit markets which Andrew Bailey has likened to the subprime crisis that foreshadowed the Great Financial Crisis (GFC). Primalend, a Texan provider of subprime financing to car dealerships, said in a filing on Wednesday that it had collapsed after months [...]
Wall Street banks toast to $130bn revenue in deal making boom October 15, 2025 Wall Street banks raked in bumper profits, comfortably breezing past analyst expectations in the third quarter, driven by the continued strength of trading desks and a sharp revival in deal making. JP Morgan, Goldman Sachs and Citigroup brushed past estimates on Tuesday, with Jamie Dimon’s banking juggernaut collecting $14.4bn (£10.8bn) in profit – a 12 [...]
JP Morgan bulks up financial cushion as Dimon warns of uncertainty October 14, 2025 JP Morgan has bulked up its financial cushion against loan losses as chair Jamie Dimon warns of heightened risk and global uncertainty. The lender set aside an additional $810m (£610.2m) to cover potential losses from unpaid loans. This defensive money consisted of $608m earmarked for consumer loans – such as credit cards and mortgages – [...]
Legal & General’s City of London office hit with suspected vandalism October 14, 2025 The Legal & General headquarters in the City of London has been hit with an apparent act of vandalism this morning. Workers heading to the office of the financial services giant, which sits in the heart of the City, witnessed security guards cornering off the building and red paint splattered across windows. Superintendent Jesse Wynne, [...]
Reeves ‘pressures business chiefs to talk up the UK economy’ October 11, 2025 Rachel Reeves has ramped up pressure on business leaders to “talk up” the economy in the run up to the Autumn Budget. The Chancellor has framed her rallying cry to businesses that if they do not support a positive narrative around the economy, they risk Nigel Farage becoming Prime Minister. The Treasury has warned top [...]