‘Very concerned’: City watchdog scolds motor finance lenders over £9bn redress scheme Banking The City watchdog has warned motor finance lenders it is “very concerned” with how prepared the industry is to implement its £9bn redress scheme, City AM can reveal. The Financial Conduct Authority (FCA) fired out letters to over 100 firms last Friday following a review of the sector’s plans to implement its under-fire redress program. [...]
‘Political point-scoring’ over bank rules risks investment exodus, top Nomura exec warns Banking London’s biggest financial institutions could shift operations away from the UK if the government intensifies its regulatory grip on the City, a top City banker has warned. Chris Barlow, head of legal and compliance at Japanese bank Nomura’s European arm, said “short-termism and political point-scoring” in Westminster over financial regulation could exacerbate the burden faced by [...]
‘Why single out banks?’: Santander chief hits out at UK tax regime Banking The boss of Santander has branded the UK’s tax regime on banks as making “no economic sense” as speculation mounts that the industry could be turned to for a quick cash grab if the Labour government lurches to the left. Ana Botín, the chief executive of the Spanish banking giant, has said the UK tax [...]
Santander: Fans to spend thousands watching World Cup from Britain June 5, 2026 Santander have said to expect Brits to fork out thousands to watch the Fifa World Cup from afar this month. Research from the bank reveals that Brits will spend, on average, £630 on eating out and drinking over the 104-match tournament while it estimates over £200 will be spent on takeaways, the same on taxis, [...]
Natwest and Barclays sweeten mortgage costs as Iran peace hopes ease interest rate fears May 29, 2026 Natwest and Barclays have become the latest lenders to sweeten up their mortgage deals, as hopes remain high that a peace deal will be reached in the Middle East that would bring calm to the interest rate environment. Both lenders have unveiled reductions in mortgage rates, with Barclays cutting its rates across the board by [...]
Mark Kleinman: Reeves revels in ring-fencing reform May 28, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his City AM column Reeves revels in ring-fencing reform Is Rachel Reeves about to rip up ring-fencing? It was a question I posed in this column just over a year ago. Now, we have an answer of sorts. The Chancellor’s announcement [...]
Santander to axe TSB from British high street ending 215 year run May 6, 2026 Santander plans to erase the TSB brand from Britain’s high streets after more than two centuries, just one week after completing its takeover over the UK lender. The Spanish bank is gearing up to drop the brand and run the combined business as Santander UK, once the integration of the two businesses is complete, according [...]
After Santander’s TSB takeover – who are the top players in UK banking? May 1, 2026 Santander shocked the City last years after beating out its rivals to snap up TSB Bank. Now with the takeover complete, who are the major players in the sector? The near £3bn mega-merger of Santander and TSB has finally reached completion. And with it, Spanish-owned Santander is set to significantly beef up its UK presence [...]
Mark Kleinman: Is it lights out for Ovo Energy? April 30, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his City AM column Is it lights out for Ovo Energy? Farewell then, Ovo Energy? The prospective demise of the challenger brand conceived by Stephen Fitzpatrick – if not the company itself – has been a long time coming. Ever since [...]
Mercedes Benz joins legal battle over £9bn motor finance scheme April 29, 2026 Mercedes Benz is confirmed to be among the four legal challenges lodged against the UK financial watchdog’s motor finance redress scheme. The financial services arm of the German car giant is set to challenge the scheme that puts the car finance industry on the hook for £9.1bn in compensation. The carmarker has thus far set [...]