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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Property fintech LendInvest sells £243m buy-to-let mortgage portfolio following financing deals

May 30, 2023

London-listed property fintech LendInvest confirmed the sale of a £243m buy-to-let mortgage portfolio to digital bank Chetwood Financial. The portfolio includes mortgages originated between 1 March 2022 and 30 November 2022 during which time interest rate hikes reduced the profitability of the mortgages. LendInvest will take a £10.5m loss on the sale which will be [...]
Blockchain and Britcoin could bolster fight against ‘fraud epidemic’, experts argue

May 29, 2023

The digital pound could be an important weapon in regulators’ fight against the rising tide of fraud, experts have argued. With the widespread scale of scams in the UK, Quant’s chief executive Gilbert Verdian said “we need a complete reset”. Quant builds technology for blockchains, including those underlying central bank digital currencies (CBDCs). According to [...]
Plans to boost scrutiny of regulators don’t go far enough, experts argue

May 24, 2023

New plans to boost oversight of financial regulators have been criticised by experts, as the government responds to concerns that watchdogs face too little scrutiny. Earlier this week, the it was reported that the Treasury is planning to beef up the Financial Regulators Complaints Commissioner (FRCC) in order to more robustly hold regulators to account. [...]
EU remains firm on post-Brexit clearing plans despite pressure on both sides of the Channel

May 24, 2023

The EU is set to reject calls to rethink its approach to the clearing business despite mounting pressure on both sides of the Channel. The EU’s financial services commissioner Mairead McGuinness said the plans were vital to the EU’s “financial resilience”. “I want to underline that this matter is actually not so much about Brexit. [...]
Close Brothers recovers from bruising start to the year while rising rates lifts fellow merchant bankers Arbuthnot

May 24, 2023

Merchant banking group Close Brothers delivered a battling update as it attempts to calm investor nerves following a poor start to the year. In a trading update for its third quarter, Close Brothers reported that its loan book increased by two per cent to £9.2bn. This was driven by a strong new business in commercial [...]
Aviva shares fall despite private health boom boosting insurance giant

May 24, 2023

Shares in Aviva fell even after it recorded a strong start to the year, with sales rising eleven per cent thanks to a boom in private healthcare. Private healthcare sales grew by a quarter to £33m as more customers were attracted to “the benefits of private cover,” perhaps boosted by Brits looking for alternatives to [...]
Big tech and banks conspire in new scheme to combat fraud

May 23, 2023

An alliance of banks, tech companies and telecoms groups are set to pilot a new scheme to collect information on scammers as attempts to tackle the UK’s fraud epidemic step up a notch. The new group, Stop Scams UK, has members including the UK’s largest incumbent banks, challenger banks, telecoms providers and big tech firms. [...]
City breathes sigh of relief: Draft MoU on post Brexit UK-EU financial services welcomed

May 23, 2023

Figures in the City seemed to breathe a sigh of relief following the publication of a draft memorandum of understanding (MoU) on financial services between the UK and EU last week. Released last Friday, the agreement commits the two to “jointly endeavour to pursue a robust and ambitious bilateral regulatory cooperation in the area of [...]
History shows AI will create more jobs than it destroys, Deutsche Bank analysts argue

May 22, 2023

Analysts at Deutsche Bank have become the latest experts to argue that AI will create more jobs than it destroys. In a note examining the history of technological advancement, Deutsche Bank’s Henry Allen and Jim Reid investigate the historical response to technological breakthroughs. Looking at long-term unemployment data, the analysts point out that changes in [...]
JP Morgan expects $3bn income boost from acquisition of First Republic

May 22, 2023

JP Morgan predicts a $3bn boost to its interest income as a result of its acquisition of First Republic, revealing how the Wall Street giant benefitted from the regional banking crisis. According to a presentation made at its investor day, the US’s largest bank said it expects its net interest income to increase to $84bn, [...]

Lib Dems urge FCA probe into Mandelson leaks

The real Guinness Six Nations showdown is happening in the pub

How South Wales became one of the UK’s most exciting food destinations

By: Chris Dorrell

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