JP Morgan chief threatens to pull £3bn investment if Labour becomes ‘hostile to banks’ May 13, 2026 The chief executive of JP Morgan has threatened to pull a major investment from the UK if Labour government policy turns “hostile to banks”. Jamie Dimon – the influential American banker – revealed plans for a £3bn square feet tower in Canary Wharf last year, which is projected to inject as much as £10bn over [...]
As it happened: Market jitters as Streeting set to make bid against Starmer May 13, 2026 Good morning and welcome back to the City AM liveblog. UK borrowing costs are taking a modest breathe this morning after settling much higher yesterday after a session jam-packed with political turmoil. The 10-year yield on UK gilts spiked ten basis points to over 5.1 per cent on Tuesday. Meanwhile, the 30-year yield soared to [...]
Atlassian AI chief: Firms still aren’t making AI ‘really productive’ May 13, 2026 Atlassian claims businesses are still struggling to turn the AI boom into real company-wide productivity gains, as the software giant pushes deeper into workplace automation with a new generation of AI agents. According to the software giant’s chief AI officer, Tamar Yehoshua, most companies have moved beyond simply experimenting with AI tools, yet many were [...]
Deloitte: UK Gen Z and Millennials delaying milestones and living ‘payslip to payslip’ May 13, 2026 British Gen Z and Millennials are delaying major life decisions as they live “payslip to payslip”, according to data shared exclusively with City AM from Big Four giant Deloitte. The data, based on findings from 806 respondents as part of the firm’s annual Gen Z and Millennial Survey, revealed that around 40 per cent of [...]
Why the battle for Labour’s future could prove to be very expensive May 13, 2026 Amid the farce and drama, spare a thought for His Majesty, who will today sit on the throne in the House of Lords and read out details of Keir Starmer’s legislative agenda for the coming parliamentary term. The monarch may be above politics, but not so far above that he won’t see the absurdity of [...]
Brits now buy more BYDs than Land Rovers May 13, 2026 I’ve been poring over the latest DVLA car registration data release, which came out a few days ago, covering the fourth quarter of 2025. There are lots of fascinating trends in there, and I’d encourage you to go and have a look yourself. But one thing that really caught my eye is that for the [...]
Trapstar: London clothing brand put up for sale on insolvency marketplace May 13, 2026 A London clothing brand that has been worn by the likes of Jay Z and Rihanna has been put up for sale on an insolvency marketplace, City AM can reveal. Trapstar, which sells luxury streetwear popular with young people, is seeking a buyer to help meet working capital challenges. The brand, which was founded in [...]
AI’s biggest problem is that it is trained to ‘please you’, warns tech chief May 13, 2026 The biggest risk facing AI may be that it becomes too good at telling users what they want to hear. Anthony Goonetilleke, chief tech officer at software firm Amdocs, told City AM businesses rushing to deploy AI are vastly underestimating a more subtle and potentially more dangerous problem emerging inside LLMs. “There’s another bucket I [...]
Ask the expert: Is £500k enough to retire? May 13, 2026 Fidelity personal finance specialist Marianna Hunt is back to help a reader who wants to know if they have enough in their portfolio to not only retire but to live the lifestyle they want. Q. I’m 55 and have built up a portfolio worth around £500,000 – split across pensions and ISAs. I’ve also paid [...]
Barclays mortgage subsidiary makes £5bn balance sheet whoopsie May 12, 2026 Don’t you just hate it when you mix up millions with billions? No one is immune from such mistakes. Including, as it turns out, one of Britain’s biggest banks. A subsidiary of Barclays, the Kensington Mortgage Company, last week published its accounts. While revenue was up slightly to £83.4m, pre-tax profit fell by 90 per [...]