Allica Bank goes ‘turbo’ on AI as profit and loan book swells April 15, 2026 Small business lender Allica Bank has revealed a major bump to its bottom line after the bank’s loan book ballooned over the last year. The neobank – which became one of the UK’s latest fintech unicorns this year – recorded a 23 per cent rise in pre-tax profit at £36.9m, compared to £29.9 million in [...]
Silver prices hit record high amid dwindling demand April 15, 2026 Silver hit multiple record breaking highs last year, but soaring investor appetite ultimately offset demand for the metal from jewellers and industry. Silver rode the coattails of fellow precious metal gold which was coveted for its ‘safe haven’ status, and has extended its rally into 2026. The asset has surged 140.9 per cent over the [...]
Standard Life snaps up Aegon UK for £2bn to create savings giant April 15, 2026 Standard Life has snapped up the UK’s largest investment platform Aegon UK in a £2bn deal. The FTSE 100 giant – previously known as Phoenix Group – said the deal would create the UK’s top retirement savings and income business with near 16m customers and £480bn in assets under administration. Standard Life expects an annual [...]
Bank of England could cut interest rates ‘if war ends’ April 15, 2026 The Bank of England could cut interest rates this year if the war in Iran ends and the Strait of Hormuz opens up within weeks, an economist at a City broker has said. Peel Hunt’s chief economist Kallum Pickering’s current assumption is that the Bank makes two interest rate cuts at the end of this [...]
Bank of England: Andrew Bailey warns AI models could ‘crack’ cyber systems April 15, 2026 Bank of England governor Andrew Bailey has warned that a new AI model designed by a Silicon Valley company could “crack” cybersecurity systems, adding that the the technology poses a continuous challenge for key institutions. Speaking at an event in New York, Bailey suggested Mythos Claude, which was created by Anthropic, presented a threat to [...]
Financial scams soar as crooks snatch phones and manipulate vulnerable victims April 15, 2026 UK banks saw a staggering rise in financial scams last year, as growing public awareness was offset by criminals pivoting towards victim manipulation to get their hands on sensitive information. Banks reported a 62 per cent rise in social engineering scams, in which attackers manipulate victims into authorising payments themselves, as they turned away from [...]
FTSE 100 Live: Stocks jittery as Trump eyes Iran ‘grand bargain’; Reeves to meet Bessent April 15, 2026 Good morning and welcome back to the City AM liveblog. Hopes of peace talks in the Middle East were back on the table this morning, though markets weren’t holding there breathe after weeks of bait-and-switches. Donald Trump described the war with Iran as “close to over” during an interview with Fox news. “I think it’s [...]
‘Entirely avoidable’: Build-to-rent housebuilding slows as London planning wait doubles April 15, 2026 The construction of build-to-rent homes in Britain is in danger of grinding to a halt as the planning wait for London homes has almost doubled in this decade. The number of build-to-rent homes under construction has fallen for the ninth consecutive quarter, according to data shared exclusively with City AM. The government has pledged to [...]
IMF downgrade Reeves is gaslighting voters on energy crisis April 15, 2026 Rachel Reeves is set to urge other countries to “follow her plan” for the energy crisis, but international analysts expect Britain to perform the worst among comparable nations thanks to decisions she has made, says Alys Denby The war in Iran has come at the worst possible time for a government already struggling to command [...]
Aldi snaps up abandoned London psychiatric hospital to turn it into supermarket April 15, 2026 Aldi has snapped up an abandoned London psychiatric hospital, City AM can reveal, in the latest sign discount supermarkets are getting increasingly creative in their search to acquire land to expand their UK footprint. The German grocer, which has over 1,000 stores in the UK but hopes to increase this by as many as 500, [...]