Monzo faces outage as thousands of users unable to make payments or transfers Fintech UK fintech Monzo has suffered an outage that has left thousands of its users unable to use its banking services. The digital bank said it had “identified some issues” and initiated a stand-in backup service, which would allow users to still complete card payments and receive transfers. But some users have continued to raise concerns [...]
Goldman and Intel back $5.4bn AI video startup Tech Goldman Sachs and Intel have backed AI video maker Higgsfield in a $400m (£295m) funding round that has more than quadrupled the two-year-old company’s valuation since January. The fresh funding values the startup at $5.4bn, up from $1.3bn just eight months ago, as investors pile into companies looking to turn generative AI into products businesses [...]
London AI car firm records surge in revenue on demand for driver-tracking software Tech Car tech firm Seeing Machines has accelerated into profitability after new European safety legislation triggered a surge in demand for its driver-tracking software. The AIM-listed group, which builds camera and AI software that tracks drivers’ eyes and heads in real time, reported a 45 per cent jump in revenue to $76.3m, up from $52.8m the [...]
‘It’s going to impact work’: Lloyds to cut £2bn in costs with AI July 30, 2026 The boss of Lloyds Banking Group is preparing to wield the axe on its cost base as the bank doubles down on AI ambitions. Charlie Nunn, the chief executive of the financial services giant, said AI is “going to impact work” and “require us to reskill people and hire new people” as he revealed a [...]
As it happened: FTSE 100 slump as oil soars; Trump says Iran will be ‘hit hard’ tonight July 8, 2026 Welcome back to the City AM liveblog. Global markets are strapping in for a return to risk-aversion after the US and Iran traded strikes overnight following the breakdown of a peace deal in the Middle East. The US kicked off its “series of powerful strikes” late Monday night. The nation’s Central Command said the attacks [...]
As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions July 7, 2026 Welcome back to the City AM liveblog. Donald Trump warned the US will “finish the job” in Iran leaving investors unnerved as he renewed military threats following the funeral of Tehran’s former Supreme Leader Ayatollah Ali Khamenei. Brent crude – the international benchmark for oil – traded above $72 per barrel on the news, but [...]
Wise triggers staff backlash after cutting paid paternity leave June 23, 2026 Money transfer firm Wise is facing uproar from staff after cutting paid paternity leave, City AM can reveal, even after its own billionaire boss took a three-month sabbatical to spend time with his newborn. The UK fintech reduced its paid leave for fathers and secondary caregivers earlier this month from 18 weeks to eight, in [...]
HSBC targets $100m in savings with Google Cloud AI tie-up June 17, 2026 Europe’s biggest lender HSBC has sealed a a tech tie-up with Google where it aims to use AI to scout priority projects that could bank the firm $100m in “efficiency gains”. The FTSE 100 giant is planning to roll out Google Cloud across its operations in a deal that the bank says will allow 200 [...]
Specialist tech recruiter sees hiring slump across UK and Europe June 16, 2026 A specialist recruiter in science, technology and maths has posted a slump across its UK operations as the hiring market continues to cool. Workforce consultant SThree recorded a 19 per cent drop in net fees across the UK, which refer to costs paid by an employer to fill a vacancy. Total takings in the UK [...]
‘AI is not killing all these jobs’: LinkedIn boss on UK hiring slump June 10, 2026 Hiring in the capital is down 32 per cent from January 2019, a steeper fall than in any other region tracked by LinkedIn, as higher interest rates and corporate cost-cutting weigh on firms that dominate London’s labour market. Across the UK, hiring has slowed by 24 per cent on pre-pandemic levels and 10 per cent [...]