By: Chris Dorrell

Chris Dorrell is a freelance journalist and City AM contributor. He was previously City AM's banking and then economics reporter. When Chris is not breaking news, he can often be found playing with his band Totally Amorphous.

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Labour market loosens as UK records surge in job seekers following hiring slowdown

June 8, 2023

The UK’s labour market recorded a surge in candidates looking for roles last month amid a continued slump in hiring, easing the rate of starting salary inflation. The supply of labour in the UK increased for the third month in a row, with the rate of people looking for jobs increasing at its fastest rate [...]
JP Morgan leads rivals on AI recruitment as UK banks struggle to attract talent

June 7, 2023

JP Morgan is leading the field in AI recruitment as banks around the world race to capitalise on the opportunities created by the new technology. According to a new report from consultancy Evident, JP Morgan is hiring twice as many AI-related jobs as its rivals. The Wall Street giant advertised 3,651 jobs in AI between [...]
Watchdog sets out new rules to reimburse APP fraud victims in ‘world first’

June 7, 2023

The Payment System Regulatory (PSR) has confirmed new rules that will force banks and payment companies to reimburse victims of authorised push payment (APP) fraud. Following consultation, the regulator has set out how mandatory reimbursement will work in practice. It said the new rules will prompt a “step change” in how firms approach fraud prevention. [...]
UK’s newest bank Griffin secures £11m in funding round as it plots expansion

June 7, 2023

Griffin, the UK’s newest bank, has gathered £11m in a fundraising round just a few months after it secured its banking licence. The funding round was led by venture capital firm Mass Mutual Ventures, with existing investors Seedcamp and EQT Ventures participating in the fundraise. Griffin said the funds will go towards leaving the ‘mobilisation’ [...]
FTSE 100 close: Markets close lower as housebuilders weigh on index

June 7, 2023

Strong morning bumps for Primark-owner Associated British Foods and BT were offset by a slump for housebuilders today as the FTSE 100 closed marginally lower. A slump in trading for housebuilders kept movement on London’s flagship index subdued, with the index closing lower. Housebuilders were down after figures from Halifax showed a first annual fall [...]
Challenger banks hunt for acquisitions as rising interest rates reveal opportunities

June 7, 2023

Challenger banks are increasingly on the lookout for acquisition opportunities as rising interest rates reveal takeover opportunities in the sector. Nigel Terrington, chief executive of Paragon Bank, told City A.M. that they “continue to look for opportunities” having made four acquisitions in seven years. Terrington noted that “in environments like this, some lenders are not [...]
Mortgage rates rocket but savings rates barely move after May’s inflation shock

June 6, 2023

Mortgage rates have skyrocketed in recent weeks after the UK’s most recent inflation reading sent rate expectations soaring, but savings rates have lagged behind. According to data from Moneyfacts, rates on a two-year fixed rate have jumped from 5.34 per cent on 24 May to 5.75 today. Similarly, interest rates on a five-year fixed rate [...]
Paragon Bank’s share price surges after record profits and deposit inflows

June 6, 2023

Shares in Paragon Bank surged nearly eight per cent this morning after the FTSE 250 lender reported record interim profits and significant deposit inflows. In the first half of the year, Paragon’s underlying profit jumped 22 per cent to £128.9m as the bank benefitted from rising interest rates. The bank’s net interest margin (NIM), the [...]
Watchdogs in focus as proposed shakeup of financial regulation returns to parliament

June 5, 2023

The UK’s financial regulators will be in focus as lawmakers consider a range of proposals to boost the accountability of watchdogs. A range of amendments to the Financial Services and Markets Bill have been put forward, focusing on the scrutiny of regulators as the Bill returns to parliament this week. Regulatory scrutiny has been a [...]
Aviva joins dormant asset scheme as programme expands to insurance and pension funds

June 5, 2023

Insurance giant Aviva joined the dormant asset scheme today as the programme opened up to pensions and insurance firms. Aviva will join over 40 banks and building societies that currently participate in the scheme. Kirsty Cooper, group general counsel and company secretary, said Aviva had been working with the Reclaim Fund and dormant asset scheme [...]

Havas keeps quiet on whether Ian Osborne will stay on board after Epstein files

Super Bowl 2026: Where to watch in London this weekend

Super Bowl 2026: Where to watch in London this weekend

By: Chris Dorrell

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