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

All 562 Articles

Activist shareholder Caius Capital takes five per cent stake in embattled Metro Bank

January 22, 2023

London-based activist shareholder Caius Capital has taken an £11m stake in embattled challenger bank Metro Bank. The investment brings Caius Capital’s stake to five per cent, making it one of Metro Bank’s ten largest investors. The stake from Caius Capital, an alternative investment manager focused on “distressed and special situations”, comes a month after Metro [...]
Financial crime: Anti-money laundering and crypto fines surge to £4bn in regulatory crackdown

January 22, 2023

Anti-money laundering fines globally surged 53 per cent in 2022 while fines to crypto firms rose over 90 per cent as regulators cracked down on financial misconduct, data from Fenergo shows. In total, financial institutions were fined nearly $5bn (£4.04bn) in 2022. According to Fenergo’s financial crime policy manager Rory Doyle, the jump was linked [...]
FTSE 100 close: Blue chip index ends higher as disappointing retail sales figures fail to dent JD Sports, Frasers and Burberry

January 20, 2023

London’s FTSE 100 index closed the week marginally higher, clawing back some some of this year’s earlier gains following a poor performance yesterday. The capital’s premier index climbed 0.3 per cent to 7,770.59 points, while the domestically-focused mid-cap FTSE 250 index rose 0.7 per cent to close at 19,702.63. JD Sports, Frasers and Burberry were [...]
Davos round-up: Optimism, the dangers of forecasting and subsidy competition

January 20, 2023

Optimism As Davos draws to a close, participants will likely leave feeling more optimistic than when they arrived. There was a mood of gentle optimism throughout, stoked by China’s reopening, rising hopes Europe can avoid a recession and continuing signs US inflation has passed its peak. IMF managing director Kristilina Georgieva cautiously joined the chorus [...]
Where are Lloyds and Halifax closing 40 branches in 2023 and what does the high street exodus mean for you?

January 20, 2023

Lloyds Banking Group said it will close a further 40 branches this year, as the exodus of banking branches from Britain’s high streets continues. Lloyds will close the doors at 22 branches while there will be 18 closures at Halifax. The branches will be closed between April and June this year. The bank noted that [...]
UK signs export finance deal with Egyptian construction titan in boost to post-Brexit trade with Africa

January 20, 2023

UK Export Finance has agreed a post-Brexit deal with one of Egypt’s biggest construction and engineering firms, Hassan Allam Holding, to increase cooperation across Africa. Hassan Allam is one of the largest firms in the country, spanning areas including investment and development companies in Egypt. It has a vast a portfolio of projects ranging from [...]
Close Brothers share price falls as sets aside £90m for legal loans

January 20, 2023

Close Brothers will set aside an additional £90m in its 2023 financial statements against bad loans from legal-finance specialist Novitas Loans. Close Brothers acquired Novitas in 2017. In 2021 Close Brothers ceased approval of new loans from Novitas and let existing loans run off. In a statement today, the merchant banking group said Novitas was [...]
Davos round-up: BoA ‘over-achieved’ on hiring, Morgan Stanley’s succession plan and Shapps searches for Britain’s Silicon Valley

January 19, 2023

As some of the world’s most important CEOs, politicians and thinkers gather at the World Economic Forum in Davos, City A.M. wraps up some of the top lines from the day. US bank layoffs Major Wall Street lenders have been forced into making large scale redundancies in the face of a global economic slowdown. Goldman’s [...]
UK banks’ shares slide on fears of recession and bad debt

January 19, 2023

UK banks’ share prices dipped on Thursday as increasing fears of recession, bad debt and a fairly poor set of US bank earnings this week spooked investors. Barclays shed 2.8 per cent, HSBC 0.6 per cent and Standard Chartered 0.8 per cent. Domestic-focused lenders Lloyds and Natwest also traded lower, finishing down 1.0 per cent [...]
HSBC will face no penalty for breaching open banking rules over 50 times

January 19, 2023

The Competition & Markets Authority has criticised HSBC for breaching open banking rules on over 50 occasions, but the banking giant has been told it will receive no penalty. HSBC published inaccurate information and failed to publish required information on more than 50 occasions over the last five years, the watchdog said. The violations of [...]

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

Bentley Continental GT review: Luxury coupe with a sporting side

By: Chris Dorrell

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