By: Chris Dorrell

Economics Reporter Chris has been at City AM since January 2023, first as banking reporter and then economics reporter. He covers all things inflation, interest rates and Bank of England.

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Meta urged to press paws on pet fraud as dog ads drive Facebook scam surge

July 3, 2023

Fraudsters on Meta-owned platforms are increasingly taking advantage of British animal lovers, new data shows. According to research from Lloyds, pet scams were up 24 per cent compared to last year with the average victim losing £307. Dogs were the most common pet used to scam unsuspecting Brits out of their money with Yorkshire Terriers [...]
HSBC, Barclays, Lloyds and NatWest under fire for ‘measly’ savings rates… again

July 3, 2023

Banks are in the firing line for low savings rates once again after the big four lenders received another letter from the influential Treasury Committee. Writing to the UK heads of the big four banks, Harriet Baldwin – chair of the Treasury Committee – said the Committee was “concerned that banks’ savings rates remain too [...]
LendInvest given £500m investment boost from Chetwood to fund buy-to-let mortgages

July 3, 2023

LendInvest, the London-listed property fintech, has received a £500m investment boost to fund some of its future lending from Chetwood Financial. The investment will fund mortgage originations from LendInvest’s buy-to-let mortgages, aimed at professional landlords, and residential mortgages, for those underserved by high street mortgage providers. Chetwood, a Wrexham-based digital bank, has become the latest [...]
Crowdcube joins team of rivals launching new retail investment platform Retailbook

July 3, 2023

Crowdcube has joined the alliance of brokers who are forming Retailbook, the new platform giving retail investors access to IPOs. Crowdcube, based in Exeter, is one of the world’s largest equity crowdfunding platforms. Since its founding in 2016, it has raised over £1.2bn for over 1,300 businesses including Monzo, Revolut and What3Words. It will join [...]
Insurers back Bank of England Brexit Solvency II reforms and new investment push

June 30, 2023

Insurers welcomed proposals released yesterday detailing potential post-Brexit reforms to the EU’s Solvency II regime. The EU’s Solvency II regime imposed rules on how much capital insurers had to hold and where it could be invested. Plans to reform the regime were announced last year and are designed to unlock billions in capital from the [...]
Watchdog raises ‘greenwashing’ concerns over sustainable loans – but experts question need for ‘hard laws’

June 30, 2023

The Financial Conduct Authority (FCA) has highlighted a number of issues in sustainable lending which are stymying the growth of the market. In a letter sent yesterday to sustainability heads at banks, the watchdog noted that the market for sustainability-linked loans (SLLs) – which link borrowing costs to sustainability targets – had “grown rapidly” over [...]
FTSE 100 close: London markets end week higher after boost from US GDP

June 30, 2023

London markets closed the week higher on Friday after revised US growth figures showed the world’s largest economy was performing better than expected. The capital’s premier FTSE 100 index rose 0.91 per cent to 7,538.36 while the midcap FTSE 250 climbed 0.90 per cent to 18,434.23. Investors were buoyed by stronger than expected growth in [...]
Revolution Beauty defends counter-revolution after Boohoo’s shareholder revolt

June 30, 2023

Revolution Beauty defended the unusual actions it took at its AGM this week, after it reinstated three members of its executive team who had been voted out by shareholders. The beauty company said its actions had been “firmly validated” by the stock market response, with its shares rising yesterday. Without taking the action it did, [...]
As the Financial Services and Markets Act becomes law – here are the 5 things you need to know

June 30, 2023

The Financial Services and Markets Bill received royal assent yesterday, securing the passage into law of the government’s landmark overhaul of financial services regulation. The government claims the reforms enable the UK to capitalise on ‘Brexit freedoms’, unlocking billions of pounds which could be directed to investment in the UK. In short, the act empowers [...]
Lack of available finance hampering SMEs – and things aren’t getting better anytime soon

June 29, 2023

Small and medium-sized businesses (SMEs) are struggling to access funding as rising rates force banks to put up the costs of lending. According to YouGov data collected for AIM-listed Manx Financial Group, 40 per cent of SMEs had to stop or pause an area of their business due to a lack of funding over the [...]

Is this a sweet trade deal with the EU – or does it sound a bit fishy?

BBC on hunt for Fifa World Cup host after Lineker exit

A fresh perspective of Cambridge at Turing Locke

By: Chris Dorrell

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