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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FTSE 100 close: Shell and BP lift London higher as OPEC production cut boosts oil giants

April 3, 2023

London’s FTSE 100 was dragged up by its oil giants at the beginning of the week, as OPEC’s cut to production saw BP and Shell climb. The capital’s premier index closed up 0.54 per cent at 7,673.00 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
UK’s major listed companies given ESG scorecards – and it doesn’t look good

April 3, 2023

‘Management of emissions’ and ‘air pollution’ are the biggest ESG risk factors for the UK’s largest listed companies, according to new research by reinsurance firm Chaucer. On average the UK’s largest listed companies scored just 13.7 and 14.3 out of 100 for ‘management of emissions’ and ‘air pollution’, respectively. On the positive side, listed companies [...]
UBS could cut tens of thousands of jobs following Credit Suisse takeover

April 2, 2023

UBS may cut as much as a third of its workforce following its takeover of Credit Suisse, Swiss newspaper Tages-Anzeiger reported this weekend, as the bank considers its options for delivering the deal. At the end of 2022, the bank employed around 125,000 people, where approximately 30 per cent of those were based in Switzerland. [...]
Swiss prosecutors probe UBS-Credit Suisse deal ahead of bank’s AGM

April 2, 2023

The Swiss Federal Prosecutor has opened an investigation into the state brokered takeover of Credit Suisse by UBS, according to the Financial Times. The newspaper reported that the prosecutor is looking into possible breaches of Swiss criminal law by government officials, regulators and bank executives. “The Federal Prosecutor’s office wants to proactively fulfil its mission [...]
Speedy rate hikes could knock shaky UK economy, former BoE chief economist warns

April 2, 2023

Former chief economist of the Bank of England Andy Haldane has cautioned his old colleagues against raising rates too fast, warning it might unsettle an economy that is on “unsteady legs”. “I think given the extent of tightening we had during the course of last year, and the early part of this, and given the [...]
Tightening SME lending rules ‘deeply irresponsible’: Business groups hit out at regulator’s plans

March 30, 2023

Increasing capital requirements on SME lending will stifle economic growth and depress the UK’s small business sector, business groups have warned. Under proposals being considered by the Prudential Regulation Authority (PRA) as part of the Basel 3.1 regulations, favourable treatment for SME lending will be removed. Removing the preferential treatment, known as the SME Supporting [...]
How the new Green Finance Strategy hopes to make London the world’s first net zero financial centre

March 30, 2023

The government released its long-awaited Green Finance Strategy on Thursday, announcing a widespread review of policies and regulations as it seeks to channel investment towards the green economy. The delayed report sets out proposals to pursue the government’s ambition of making London the world’s first net zero aligned financial centre. It said the proposals would [...]
Arbuthnot profit leaps after rate hikes but bank backs ‘conservative’ model as UK prospects ‘not clear’

March 30, 2023

Arbuthnot Latham saw its profit surge with rising interest rates boosting its coffers, as the lender sought to distance itself from recent difficulties in the banking sector. Pretax profit in 2022 lept to £20m, up from just £4.6m last year as net interest income grew by over £30m. The boutique bank said this increase [...]
Aquis Exchange profit grows as diversified model helps trading platform weather economic turbulence

March 30, 2023

Aquis Exchange posted “another year of significant growth” despite difficult conditions as the stock exchange operator saw revenue and profit climb from last year. In 2022 pretax profit climbed 27 per cent to £4.5m, up from £3.6m last year. Its revenue also grew 24 per cent to £20.1m. The firm said this reflected expansion in [...]
City of London chiefs: We’ve lost our undisputed global finance crown

March 30, 2023

THE CITY OF LONDON CORPORATION’s annual report into global financial centres has for the first time put New York joint-top alongside the capital – with a warning that the Square Mile’s competitive advantage is “at risk.” According to the updating ranking compiled by the body which governs the City, London – which had come top [...]

Why Winter Olympians make good City entrepreneurs

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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