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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Digital pound needed to ‘anchor’ monetary system as Bank likely to set £20,000 limit on holdings: John Cunliffe

February 7, 2023

John Cunliffe, deputy governor of the Bank of England, said a ‘digital pound’ would be needed to maintain trust in the UK’s monetary system while he set out limits for its use to preserve financial stability. Speaking at UK Finance, Cunliffe said the Bank could not ignore the possibility that the use of cash would [...]
Bank chiefs hit back at accusations of profiteering on higher interest rates

February 7, 2023

Chief executives from the UK’s four largest lenders today hit back at accusations from MPs that they were too quick to charge customers more interest on their mortgages without offering higher rates on savings accounts. The bank chiefs were asked why interest rates on instant savings accounts remain around one per cent while the Bank [...]
Barton to replace Meehan as Victorian Plumbing finance chief

February 7, 2023

Victorian Plumbing Group’s finance chief, Paul Meehan, has told the board he will be stepping down from his role at the end of March in order to pursue other opportunities. Meehan will be replaced by Daniel Barton, currently the group’s director of finance. Barton will be appointed to the board on 1 April. Barton joined [...]
Brooks Macdonald chair Carruthers resigns due to ill health

February 7, 2023

Chair of Brooks Macdonald, Alan Carruthers, has resigned from the board with immediate effect having suffered from ill health over the last year. The AIM-listed investment manager said Carruthers had suffered from “a series of unfortunate health issues of the last twelve months”. His resignation will allow him to concentrate on recuperating fully, the company said. [...]
FTSE 100: London falls from record high as retailers JD Sports, Next and Mike Ashley’s Frasers drag index down

February 6, 2023

The FTSE 100 started the week lower on Monday, as retailers dragged the index lower. The capital’s premier index dropped 0.82 per cent to 7,836.71 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, closed at 20,409.38, down 0.89 per cent. The fall takes the [...]
Rom-cons on the rise: Romance Scammers trick average victim out of over £8k

February 6, 2023

Lonely souls looking for Valentine’s love are being warned not to fall prey to romance scams which have increased by over 30 per cent in the last year according to Lloyds bank. The rise of dating apps and social media has made romance scamming easier, as criminals can more easily fake their identity to gain [...]
FCA warns crypto execs could face two years in jail for breaching financial promotion rules

February 6, 2023

The Financial Conduct Authority (FCA) has warned crypto businesses that breaching new financial promotion regulations could lead to executives facing up to two years in prison. The FCA said that crypto companies which fail to meet its financial promotion rules will breach the Financial Services and Markets Act, “a criminal offence punishable by up to [...]
Rothschild family in £3.3bn bid to take Rothschild & Co private

February 6, 2023

The Rothschild family is attempting a buy-out of Rothschild & Co taking the French bank off the public market, in a deal valuing the company at €3.7bn (£3.3bn). In a statement released this morning, Concordia, the holding company of the Rothschild family and the bank’s largest shareholder, said it intends to offer €48.0 per share [...]
Media: Bonhill offered £5.3m cash for InvestmentNews but admits to ‘no certainty’ on a sale

February 6, 2023

Bonhill Group revealed that it had received an offer for InvestmentNews from an unnamed US buyer as it updated shareholders on the potential sale of its UK and Asia business. The London-listed company, which produces magazines and events for financial advisers, said it had received a $6.5m (£5.3m) cash offer from a US media buyer [...]
Change at Shanta Gold as mining company appoints new finance chief and COO

February 6, 2023

AIM-listed Shanta Gold appointed a new chief operating officer and chief financial officer on Monday morning, as its previous CFO stepped down to pursue other opportunities. The East Africa-focused gold producer and explorer promoted Honest Mrema, who has been at the company since 2015, to the role of COO. Most recently he was group technical [...]

Bitcoin falls to lowest level as big tech sell-off intensifies

Super Bowl LX ad review: Budweiser, Pepsi and Kellogg’s put on a show

Arcadia at the Old Vic is a brilliant farewell to Tom Stoppard

By: Chris Dorrell

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