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.

All 582 Articles

Architects of UK financial rules question direction of Edinburgh reforms

February 1, 2023

Two leading architects of the UK’s financial regulations today questioned the idea of giving regulators a competitiveness mandate and warned that reforms to Solvency II could expose the financial sector to greater risks. In a Treasury committee hearing today, John Vickers, chair of the independent banking commission, doubted the idea of giving financial regulators a [...]
UK crypto hub ambitions at risk if it does not pass new rules quickly, experts warn

February 1, 2023

The government’s new plans to “robustly regulate” cryptoassets garnered mixed reactions from the crypto industry today, with experts saying that while the proposals were welcome there were still huge questions about the timeline for when they might come into effect. Nick Taylor from Luno, a crypto exchange, described the launch of the consultation as “a [...]
London’s fintech boom ‘would have happened with or without Brexit’, Lord Mayor says

February 1, 2023

London’s fintech boom “would have happened with or without Brexit”, Lord Mayor Nicholas Lyons said today, adding that the so-called Edinburgh reforms will help the City power the UK’s future economic growth. Lyons said the City achieved its reputation as a thriving hub for fintech success “independently of Brexit”. He stressed, however, that Brexit still [...]
Virgin Money has customer boom as higher interest rates benefit Branson’s bank

February 1, 2023

Virgin Money’s customer base continued to grow in the first quarter of its financial year as the challenger bank said it expects to benefit from higher interest rates for the remainder of the year. There were around 27,000 new personal current accounts opened in the period, 44 per cent more than last year. This, the [...]
City will be shaken up by AI – so we asked ChatGPT for an equities strategy

February 1, 2023

Artificial intelligence and machine learning is set to transform trading over the next three years, a JP Morgan survey shows, as traders anticipate the potential for new technologies to shake up trading floors. Over half of traders surveyed in JP Morgan’s eTrading survey predicted that AI and machine learning will be the most influential technology [...]
Brexit ‘starting to bite’ three years on but City holds out hope for Edinburgh reforms

February 1, 2023

City figures are yet to be convinced by the benefits of Brexit three years down the line, but hold out hope that the government’s Edinburgh reforms could turbocharge growth in the sector over the next few years. While the City has avoided a mass exodus of jobs and maintained its status as one of Europe’s [...]
Crypto: Government is considering ‘world first’ regulatory regime in UK bid to become digital asset hub

January 31, 2023

The government has set out plans to “robustly regulate” the crypto asset industry as it seeks to become a cryptocurrrency hub despite the problems faced by the industry last year. The proposals include rules for crypto trading platforms and a “world-first” regime for crypto lending, as the government seeks to “embrace technological change”. Proposals will [...]
UBS posts profits of £1.4bn as banking giant reaps rewards of cost cutting and a reported client exodus from rival Credit Suisse

January 31, 2023

UBS beat analysts’ profit estimates as a drop in expenses and a significant influx of new assets helped offset a fall in revenue. UBS’s profits rose 23 per cent to $1.7bn (£1.4bn) in the fourth quarter of the year, ahead of an estimated $1.3bn. Net interest income at the Swiss lender fell year-on-year compared to [...]
How global dealmaking fell to a 10-year low in 2022 – and why executives aren’t worried

January 31, 2023

The value of mergers and acquisitions (M&A) globally dropped 36 per cent last year to a 10-year low but executives remain confident for dealmaking in 2023, a new report from Bain shows. The report, which was released today, shows that M&A, particularly mega-deals worth more than $10bn, slumped from June 2022 after five months of [...]
Banks struggle with digital transition as new data shows 10 per cent of customer records are duplicated

January 30, 2023

Major banks are struggling to manage their digital records as new data shows that around ten per cent of customer records are duplicated. Quantexa, a data analytics firm, asked 356 IT and data experts working in the UK, USA and Canada how many customer records were duplicated in their respective sectors. In the banking industry, [...]

Exclusive: Lloyd’s of London quietly shelves Blueprint Two to rethink strategy

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

All 582 Articles

Subscribe