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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Mark Carney’s climate alliance expands as 23 venture capital funds join net zero group

April 25, 2023

Mark Carney’s global alliance of financial firms fighting climate change expanded into the venture capital sector today with the launch of the Venture Climate Alliance (VCA). Consisting of 23 venture capital (VC) firms across the U.S. and Europe, VCA members have committed to supporting a rapid, global transition to net zero or negative carbon emissions [...]
Santander UK profits rise but lender bracing itself for house price fall

April 25, 2023

Santander’s UK division was boosted by higher interest rates but the bank remained cautious looking forward, suggesting house prices could fall ten per cent taking them back to 2021 levels. The Spanish bank’s UK business saw its pretax profit climb 11 per cent to £547m as higher interest rates continued to bolster its performance. Santander’s [...]
UBS: Mortgage litigation hits profits but inflows soar after Credit Suisse takeover

April 25, 2023

UBS reported significant inflows across the bank in the first quarter as customers sought the bank’s stability but its profit more than halved due to costs from legacy issues dating back 15 years. In the first quarter, UBS saw $28bn of new money in global wealth management, of which $7bn came in the last ten [...]
‘We can rely on markets’ Standard Chartered’s Bill Winters implores use of effective carbon market to combat climate crisis

April 24, 2023

Standard Chartered’s chief executive Bill Winters called for more action on the carbon credits market saying he was “frustrated” work had not yet been finished despite the urgency of the task. Speaking at the City Week conference, Winters, who chairs a private sector-led initiative working to scale the voluntary carbon market, argued that governments around [...]
Time lapse at UBS as CRO Bluhm delays planned photography career

April 24, 2023

UBS’ chief risk officer Christian Bluhm postponed plans to focus on his photography today as the bank confirmed he will stay for the “foreseeable future” to handle the acquisition of Credit Suisse. Bluhm, who has been in place since 2016, was planning to handover to Damian Vogel on 1 May. Bluhm had been hoping to [...]
Banks must do more to tackle Post Office cash-based money laundering, warns FCA

April 24, 2023

The UK’s financial watchdog “put banks on alert” as it announced a series of measures to step up the fight against money laundering through the Post Office. Tackling financial crime is a key objective for both the Financial Conduct Authority (FCA) and the government. Last month the government announced part two of its Economic Crime [...]
Credit Suisse: Final results reveal impact of crisis as bank haemorrhages over £55bn assets, and counting

April 24, 2023

In the quarter in which it was taken over by rival UBS, Credit Suisse reported outflows of CHF61.2bn (£55.3bn) with clients and customers pulling funds as fear over the stability of the ailing lender grew. These “significant” outflows were concentrated in the second half of March, the bank said, and while they have “moderated”, they [...]
SME loans fall by £14bn in last year with more pain on the way

April 24, 2023

Outstanding bank loans to small and medium sized businesses (SMEs) in the UK fell by £14bn in the year to March with concerns that this figure could fall further due to March’s banking turmoil and mooted regulatory changes. In the year to March, outstanding bank loans fell to £195bn from £209bn according to Bank of [...]
Standard Chartered, Barclays, Natwest kick off UK bank earnings this week with interest income back in focus

April 24, 2023

Profit looks set to increase at the UK’s largest lenders as they line up to report first quarter earnings over the coming two weeks. The FTSE banking giants have seen relative stability over the last few weeks following the extreme volatility in March, but this stability means investors will refocus their attention on other major [...]
HSBC faces more shareholder pressure as Pirc urges investors to vote against re-election of Noel Quinn

April 23, 2023

HSBC faces yet more trouble at its upcoming AGM as shareholder advisory firm Pirc urges shareholders to vote against the re-election of chair Noel Quinn, according to a report in the Mail on Sunday. Justifying the recommendation, the investment advisory firm highlighted the bank’s alleged links to Hong Kong human rights abuses. Pirc said: “While [...]

Itoje and Pollock can boost Britain’s soft power on global stage, MP says

£9bn World Cup too big to be derailed by Middle East conflict, says Fifa chief

Aboard the Celebrity Cruises ship with Gwyneth Paltrow partnership

By: Chris Dorrell

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