By: Chris Dorrell

Chris at City AM from 2023-2025, first as banking reporter and then economics reporter. He continues to freelance and plays with his band Totally Amorphous

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Regulator’s fraud reimbursement scheme is ‘fundamentally flawed’, top MP says

February 6, 2023

The Payment Systems Regulator’s (PSR) new fraud reimbursement scheme is “fundamentally flawed,” Chair of the Treasury Committee Harriet Baldwin has said. The PSR is considering using its statutory powers to force Pay.UK – Britain’s interbank payments standards body – to amend its rules to ensure fraud victims are reimbursed by banks, according to draft proposals [...]
Business lending to drop at fastest rate in decades as recession fears intensify

February 6, 2023

Bank to business lending is forecast to contract sharply in 2023 while mortgage lending will grow at its slowest pace since 2011 as fears of recession intensify, economists have predicted. According to the latest forecast from EY Item Club, an economic forecasting group, bank to business lending is expected to contract 3.8 per cent this [...]
Digital pound coming this decade, unpublished Treasury and BoE report suggests

February 5, 2023

The Bank of England (BoE) and the Treasury are convinced that a central bank digital currency (CBDC) is becoming increasingly necessary, an unpublished report seen by the Daily Telegraph suggests. “On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be [...]
Barclays boss recounts criticism of refusing to stop work amid cancer treatment

February 5, 2023

Barclays chief executive CS Venkatakrishnan said that some people accused him of “CEO swagger” when he said he intended to work through his cancer treatment. Writing in the Financial Times for World Cancer Day, Venkatakrishnan – who prefers to be known as Venkat – said he received some messages after his diagnoses that suggested his [...]
Executive pay rises should not outstrip staff salary bumps, Aviva warns

February 5, 2023

Aviva Investors has warned company directors that it would be “inappropriate” to award themselves bumper pay rises and urged them to recognise that record high inflation puts far greater pressure on the budgets of their frontline staff. In a letter to the 1,600 firms in which it has stakes, including many in London, the fund [...]
FTSE 100 close: Markets shrug off rate hike as JD Sports and BT lift index

February 2, 2023

The FTSE 100 closed higher on Thursday, boosted by a strong performance from BT and JD Sports, as investors digested the latest interest rate decision from the Bank of England later today. Governor Andrew Bailey increased interest rates by 50bps to a post-financial crisis high of four per cent earlier today. Investors think the Bank [...]
Another interest rate hike to boost banks’ profits, but how long will the windfall last?

February 2, 2023

Bank shares prices were mixed after the Bank of England raised interest rates by 50 basis points earlier today, as the pressure on banks to pass on higher interest rates to savers grew. The more domestically focused Lloyds and Natwest were trading 1.0 per cent and 0.6 per cent higher respectively. Barclays was up 0.8 [...]
Peel Hunt joins forces with rival brokers to launch retail capital markets and IPO investment platform

February 2, 2023

Peel Hunt is set to launch a new independent retail investment platform alongside other brokers in the second half of 2023, as it seeks to broaden access to capital markets amongst retail investors. The investment bank will establish RetailBook as a new legal entity which will own and operate a deal platform based on Peel [...]
FTSE 100 live: London index boosted by Shell ahead of today’s Bank of England rate decision

February 2, 2023

The FTSE 100 opened higher on Thursday morning, boosted by a strong performance from Shell, as investors awaited the latest interest rate decision from the Bank of England later today. Governor Andrew Bailey is expected to increase interest rates by 50bps to a post-financial crisis high of four per cent later today, although there is [...]
Warning of ‘marked slowdown’ in mortgage lending from Santander UK chief as bank’s profit creeps up two per cent

February 2, 2023

Santander UK’s net mortgage lending climbed higher in 2022, helping to boost profits, but its CEO warned that the bank would have to navigate “a marked slowdown” in mortgage lending in 2023. The Spanish bank’s net mortgage lending increased to £9.8bn from £7.5bn last year helping pretax profit creep up two per cent. CEO Mark [...]

Sport business quiz 2025: Test your knowledge with City AM’s topical teasers

Sport business quiz 2025: Test your knowledge with City AM’s topical teasers

Here are the biggest, best cultural moments of 2025

By: Chris Dorrell

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