By: Samuel Norman

Senior City Reporter Samuel is a Senior City Reporter covering banking and fintech as well as stories on capital markets and economics. He also leads on City AM's morning liveblog from 7am everyday. He has previously written for the Daily Mail and The i Paper and worked for Sky News as an election stringer. He enjoys writing in-depth analysis of major blue-chip firms and start-ups and also industry trends. He can be contacted at samuel.norman@cityam.com and posts on LinkedIn and X at x.com/samnormanwrites.

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Will banks be able to escape a Reeves’ tax raid this Autumn?

June 27, 2025

As Rachel Reeves watches her fiscal headroom crumble with every Labour U-turn, the Chancellor may return to her budget mantra that those with the “broadest shoulders should bear the heavier burden”. Lenders managed to skirt a tax raid in the 2024 budget after lobbyists warned it could damage the sector’s international competitiveness, but renewed fiscal [...]
Kemi Badenoch: I’ll only support welfare bill if government pledges no tax rises

June 27, 2025

Kemi Badenoch has said she would only support Labour’s welfare bill if the government pledges not to raise taxes further at the next budget. More than 100 Labour MPs had threatened to vote against the bill in its original form amid concerns over a reduction in personal independence payments to their constituents. The government has [...]
Labour’s welfare U-turn spikes fears of tax hikes

June 27, 2025

The Labour government has confirmed its latest U-turn with a significant retreat on welfare reform dealing a crushing blow to Rachel Reeves’ waning fiscal headroom. The bill initially targeted restrictions on personal independence payments (PIP) and limited the sickness-related element of universal credit in a bid to shed £5bn from the welfare budget by 2030. Under [...]
Heathrow eyes earnings crunch as national insurance hike weighs

June 27, 2025

London Heathrow airport expects its earnings for 2025 to take a hit as it weighs the cost of Labour’s hike to employer’s national insurance contributions. The airport expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) to decrease by three per cent to near £1.98bn over the year due to higher operating costs brought on [...]
Cavendish chiefs: Markets need tax incentive to turn heads

June 27, 2025

The bosses of investment bank Cavendish have joined calls to use more attractive tax policy to boost market listings, amid a waning backdrop for the London Stock Exchange. The London-listed company swung back into profit on Wednesday, but did so battling against woeful mergers and acquisition volumes. Takings from M&A slumped 55 per cent on [...]
Starling Bank sets sights on US expansion

June 26, 2025

Starling Bank has set its sights across the Atlantic for future growth prospects as the UK fintech eyes a US banking licence or entering the market through an acquisition. The neobank took a £223m hit to profit in 2024, down from £301m in the previous year and has since scouted endeavours overseas to boost its [...]
Reeves urged to unfreeze income tax or risk entrenched damage

June 26, 2025

Rachel Reeves has been given another stark warning of the implications of extending the freeze on income tax thresholds. The Chancellor has vowed to not repeat the scale of tax rises in last year’s autumn Budget, but has not addressed whether she will stand by her promise to unfreeze income tax thresholds from 2028. Reeves [...]
Trump’s renewed Fed attacks help pound climb to three-year high

June 26, 2025

The pound has stormed to its highest level against the dollar in over three years after President Donald Trump launched a new tirade of attacks on the Federal Reserve. Sterling rose over 0.6 per cent to near $1.3725 as Trump indicated he was lining up successors for the Fed’s chair Jerome Powell, despite Powell’s term [...]
Cavendish shakes off M&A woes to swing to profit

June 26, 2025

Cavendish swung back into profit in the latest financial year despite a sharp drop in revenue in its mergers and acquisitions division. The London-listed investment bank turned a slim £700m in pre-tax profit for the year ending March 31 but this marked a hefty shift from the £4.3m loss in 2024. The firm said its [...]
Government accused of ignoring SMEs as firms fight for survival

June 26, 2025

Three in five small business owners feel ignored by the government, according to a fresh survey, an increasing amount firms raise the alarm on their fight to stay afloat. Small and medium-sized enterprises (SMEs) are calling on Westminster to take further measures to support businesses after 57 per cent fear for their survival in the [...]

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By: Samuel Norman

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