Barclays, Citi, JP Morgan bosses sound alarm on bank tax September 25, 2025 Rachel Reeves has been handed a warning by top banking chiefs to prioritise stability for the financial services industry amid speculation of looming tax hikes. The bosses of UK banking giants have cautioned the Chancellor on potential tax rises and stressed the sector must remain competitive. Barclays’ boss CS Venkatakrishnan – known as the Venkat [...]
UK drug prices necessary to stop feud with companies, says science minister September 25, 2025 The price the NHS pays for medicines will need to rise to end the feud with pharmaceutical companies and stop the exodus of investment in the UK, science minister Patrick Vallance has said. Lord Vallance told the Financial Times that “all options” were on the table in terms of UK drug pricing, after several large [...]
London hot on New York’s heels as financial centre race ramps up September 25, 2025 London is now within a whisker of ousting New York as the world’s leading financial hub, fresh rankings reveal, but risks remain over the capital’s fintech prospects. The City was chomping at the heels of the Big Apple with just a singular rating point between the two. New York once more topped the rankings in [...]
Government urged to amend the Pension Schemes Bill September 24, 2025 The Association of Investment Companies, (AIC) has voiced its frustration at the incoming Pension Schemes Bill failing to include investment companies. The bill aims to strengthen pension investment by giving government powers to push schemes to invest a percentage of their portfolio in private assets. However, in the drafted legislation which is passing through the [...]
‘We’re already at peak government inflicted costs’ BT chief warns Chancellor September 24, 2025 The boss of BT has joined a chorus of chief executives urging the Chancellor not to raise the costs of doing business at her forthcoming Budget, warning the telecoms industry was “already at peak government inflicted costs.” In an on-stage interview with City AM at the Connected Britain conference on Wednesday, Allison Kirkby said: “We [...]
Ministry of Justice sacks 849 staff over misconduct in three years September 24, 2025 The Ministry of Justice (MoJ) has dismissed 849 staff members over the last three years for alleged misconduct. A Freedom of Information Request, shared with City AM, revealed there has been an increase in the number of individuals receiving a penalty as a result of the conduct and discipline process at the MoJ, with a [...]
Labour’s mixed messages ‘confuses’ UK government procurement September 24, 2025 The UK government’s £400bn procurement budget used to deliver on key policies and projects has been squandered due to Labour’s mixed messaging on its priorities, a new report exclusively shared with City AM has suggested. The state spends billions of pounds a day for public services, with everything from IT software to fighter jets and [...]
Signal AI raises $165m as UK tech faces scaling challenge September 24, 2025 London-based Signal AI, a risk and reputation intelligence platform, has raised $165m (£122m) in a growth equity round led by US investor Battery Ventures, giving the company a major stake. The funding will support international expansion across the US, Europe and, the Middle East, whilst also funding strategic acquisitions and product development. Founded in 2013 [...]
Wages soar to £1.5bn as HMRC ramps up on compliance staff September 24, 2025 HMRC has allocated over £1.5bn for 2024-25 to support staff in compliance, preventing and detecting fraud cases and collecting taxes, representing a 23 per cent increase on its 2021-22 staff bill. According to a freedom of information (FOI) shared with City AM by think tank Parliament Street, over the past fiscal year as part of [...]
Nigel Farage rows back on key migration pledges September 24, 2025 Nigel Farage has appeared to row back on key aspects of his legal migration pledges amid mounting questions over whether his figures stand up as well as fierce criticism from top lawyers and researchers on the viability of his plan to end Indefinite Leave to Remain. The Reform UK leader told LBC on Wednesday morning [...]