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: 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 [...]
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 [...]

Bond traders: Bank of England gilt shake-up would ‘concentrate risks’ in market meltdown

PSG sign deal with Whoop as Qatar links grow

Friends of The Whisky Exchange launches to reward customers

By: Chris Dorrell

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