By: Samuel Norman

Senior City Reporter Samuel is a Senior City Reporter covering all the top financial institutions from retail banks to fintechs as well as stories on capital markets and economics. He has broken stories on some of the biggest names in the City and regularly writes in-depth analysis pieces on companies and industry trends. Samuel also leads on City AM's morning liveblog from 7am everyday. He writes a weekly column found in print and online on Wednesdays. He can be contacted at samuel.norman@cityam.com and posts on LinkedIn and X at x.com/samnormanwrites.

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Nationwide rebel claims he was offered sweetener to drop boardroom bid

July 6, 2026

A rebel Nationwide customer vying for a board seat at Britain’s biggest building society claimed it offered to help him land a directorship at another firm if he dropped his boardroom bid. James Sherwin-Smith, who is on the ballot at next week’s annual general meeting to join Nationwide’s board, told City AM he had a [...]
Construction sector cuts jobs again as house building slumps

July 6, 2026

The construction industry shed jobs for the 18th consecutive month in June following “sharp declines” in house building and a slowdown in new home sales. The latest S&P Global Purchasing Manager’s Index (PMI) for the construction sector showed more cutbacks to employment with another period of “sustained job shedding”. Subcontractors were also hit by the [...]
As it happened: Stocks slide despite tech and data boost; Oil falls after OPEC+ ups output

July 6, 2026

Welcome back to the City AM liveblog. Markets are dealing with a double dose of pressures to start of the new week as investors brace for a crucial earnings season in the artificial sector, whilst an increase of supply on the oil market weighs on prices. Over in Asia, stock markets slipped following a week [...]
Natwest boss becomes latest City figure caught in AI social media scam

July 3, 2026

The boss of Natwest has become the latest City figure to be depicted in an AI scam across social media. Paul Thwaite – the chief executive of the FTSE 100 bank – was posted on X alongside journalist Emily Maitlis in a deepfake picture attempting to create a BBC radio interview. The picture was shared [...]
World Cup boost fails to land UK services sector on front foot

July 3, 2026

A World Cup boost failed to drag the UK’s services sector to growth last month after it recorded its fastest rate of decline in three-and-a-half years as businesses braced for the Andy Burnham coronation. The latest Purchasing Managers Index (PMI) from S&P Global showed a reading of 48.8 in June, falling from 49.3 in May. [...]
UK fintech Starling to axe 130 roles in AI-powered simplification drive

July 3, 2026

Starling is gearing up to cut some 130 roles in a bid to streamline its operations following a fall in profit over the last year. The London-based fintech told staff this week it would restructure its banking and tech operations as it leveraged AI across operations ahead of an influx of new projects. It said [...]
As it happened: Stocks rise as oil lower; Iran threatens ‘forceful response’ over Strait of Hormuz

July 3, 2026

Welcome back to the City AM liveblog. The rate of traffic flowing through the Strait of Hormuz is gradually picking back up in a major boost to the oil market. Brent crude – the international benchmark for oil prices – held steady at near $72 per barrel on Friday morning. It marked a similar level [...]
Tale of two cities: London leaps ahead in global finance but domestic growth stalls

July 3, 2026

The City of London has cemented its dominance in international finance ten years on from the Brexit vote but faced sobering domestic growth that failed to match the momentum. The capital sees more international activity conducted than the next eight largest financial centres in Europe combined, according to a new report by New Financial. The [...]
City watchdog suspends parts of £9bn motor finance scheme after industry backlash

July 2, 2026

The UK’s financial watchdog has suspended parts of its under-fire £9bn motor finance redress scheme amid fierce backlash from industry and consumer groups. In a statement on Thursday, the Financial Conduct Authority (FCA) said the suspension will require firms to continue preparations for its scheme but avoid work that “may need to be repeated” if [...]
Interest rate cut is ‘off the table’, says Bank of England governor

July 2, 2026

Andrew Bailey has said cutting interest rates is “off the table at the moment” in the clearest sign yet borrowing costs are likely to stay elevated for the rest of the year. The Bank of England governor said on a panel at the European Central Bank’s annual conference in Portugal that inflationary pressures following the [...]

Rampant inflation could land Healey with £35bn bill, IFS warns

Manchester City owners must get messaging right or risk own fans turning against them

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By: Samuel Norman

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