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Digital pound coming this decade, unpublished Treasury and BoE report suggests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(BoE) and the Treasury are convinced that a central bank digital currency (CBDC) is becoming increasingly necessary, an unpublished report seen by the Daily Telegraph suggests.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 [...]
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 [...]

Monzo in talks over £10bn sale to Nubank in blow to IPO hopes

AI and politics will never destroy the beauty of supporting clubs like Bournemouth

Two countries, one holiday: Turkey’s glitzy Bodrum and Greece’s unbuttoned Kos

By: Chris Dorrell

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