Powervault: London Mayor-backed Tesla battery rival collapses December 3, 2025 Battery storage firm Powervault, which had been tipped to become the UK rival to Tesla, has collapsed into administration, City AM can reveal. The London-based company, which had been backed by the Mayor of London’s Greater London Investment Fund as well as the British Business Bank, has appointed administrators Menzies to oversee its wind-down, according [...]
FCA chief ducks committing to investigating Treasury briefings December 3, 2025 The boss of the City watchdog appeared to skirt committing to investigating Treasury briefings when pressed on the Labour government’s “possible market abuse” on Wednesday morning. Nikhil Rathi, chief executive of the Financial Conduct Authority, has been lobbied by the Conservatives and other opponents to the Labour government to look into the rogue briefings on [...]
The 68p lawsuit that threatened to upend the British bond market December 3, 2025 In 2023, the Financial Conduct Authority set out to modernise the bond market. A noble ambition. But as many seasoned City execs will tell you, noble ambitions from regulators don’t always work out how they were intended. The FCA proposed to introduce what’s known in industry jargon as a consolidated tape – a system which [...]
HSBC taps KPMG veteran Brendan Nelson to chair banking giant December 3, 2025 Europe’s biggest lender, HSBC, has named a new chair following its tumultuous recruitment programme after the departure of Sir Mark Tucker. HSBC tapped KPMG veteran Brendan Nelson, who has also served on the boards of BP and Royal Bank of Scotland, as its new chair. Nelson joined the banking giant’s board in 2023 and has served [...]
FTSE 100 Live: HSBC names new chair; Bloomsbury and Google tie-up December 3, 2025 Good morning and welcome back to the City AM liveblog. Are we on the verge of another financial crisis? It’s quite the eerie question but it was one of many posed to the Governor of the Bank of England Andrew Bailey following the latest financial stability report on Tuesday. The head of the central Bank [...]
Majority of young voters consider leaving London due to cost of living December 3, 2025 A majority of young Londoners have considered leaving the capital due to the high cost of living, with one in four actively looking into moving, according to a new survey. Just under half – 47 per cent – of all Londoners have thought about moving out of the capital, with that figure rising to 54 [...]
Labour is making it more expensive than ever to hire young workers December 3, 2025 Increases to the minimum wage alongside increases in employer NICs have pushed up the costs of employing an 18-year-old by 26 per cent. No wonder youth unemployment is soaring and young people are emigrating in droves, says Emma Revell To say most people are struggling with the state of the British economy would be an [...]
Physician associates union: BMA pay demands ‘unsustainable’ December 2, 2025 The British Medical Association’s “obsession with unsustainable pay demands” is pushing other areas of the health service to the brink, as resident doctors gear up for a third strike this year in the lead up to Christmas. According to the trade union representing physician associates, a range of more junior medical staff are being effectively [...]
Natwest chief: UK ‘closer to start than finish line’ on regulation mission December 2, 2025 The government’s mission to overhaul regulation still has a long distance to go, the boss of Natwest has said, as he warned of “trade-offs” in the pursuit of cutting red tape. Paul Thwaite, the chief executive of Natwest, praised the government and the City watchdog in edging forward in its regulation mission, referencing recent changes [...]
JP Jenkins allows investment firm to take advantage of Pisces licence December 2, 2025 The new Pisces market today took a step closer to coming to fruition after prospective operator JP Jenkins unveiled a new partnership with Belfast based investment firm Sapphire Capital Partners, allowing it to take advantage of the trading venue. The online securities venue secured its licence from the Financial Conduct Authority in November, after London [...]