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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Virgin Media slapped with £28m fine for stopping customers cancelling deals

July 8, 2026

Virgin Media has been slapped with the media watchdog’s largest ever fine for direct harm to consumers after it was found to have mishandled millions of calls with users looking to switch away to a better deal The telecoms giant has been hit with a £28m fine after it was found to have put customers [...]
As it happened: FTSE 100 slump as oil soars; Trump says Iran will be ‘hit hard’ tonight

July 8, 2026

Welcome back to the City AM liveblog. Global markets are strapping in for a return to risk-aversion after the US and Iran traded strikes overnight following the breakdown of a peace deal in the Middle East. The US kicked off its “series of powerful strikes” late Monday night. The nation’s Central Command said the attacks [...]
How the boss of Zilch became UK fintech’s power broker

July 8, 2026

Last year, Zilch founder Philip Belamant sat down with then-boss of Monzo, TS Anil. As the two friends caught up, Belamant was fizzing with ideas to turn his $2bn British fintech into a global powerhouse, according to sources familiar with the matter. Not long ago, Zilch had set up shop across the pond, and Belamant [...]
Bank of England to relax capital rules despite warning of economic threats

July 7, 2026

The Bank of England set out proposals to relax UK banks’ capital rules even as it sounded the alarm on the growing risk of multiple threats hitting the UK economy. In the latest meeting of the central bank’s Financial Policy Committee top officials said it would work with watchdogs on a package of “broad reforms” [...]
As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions

July 7, 2026

Welcome back to the City AM liveblog. Donald Trump warned the US will “finish the job” in Iran leaving investors unnerved as he renewed military threats following the funeral of Tehran’s former Supreme Leader Ayatollah Ali Khamenei. Brent crude – the international benchmark for oil – traded above $72 per barrel on the news, but [...]
‘Too much tax, too much regulation’: Fintech chief sounds alarm on UK economy and IPO market

July 7, 2026

The boss of one of the UK’s fastest-growing fintech unicorns has warned the country risks “putting founders off” with overregulation and heavy taxation as speculation rises that the Labour government could make a major lurch to the left. Paul Taylor, who founded banking software firm Thought Machine in 2014, told City AM he feared UK [...]
Close Brothers shares fall as motor finance scandal threatens worst returns in Europe

July 6, 2026

Close Brothers shares tumbled on Monday morning after a damning broker downgrade warned the bank was poised to deliver the “lowest value-creation” of Europe’s top 50 banks. The FTSE 250 bank’s stock was down nearly nine per cent in early trading to 401.70p as investors scurried for the exit door. The loss came on the [...]
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 [...]

Uefa to boycott World Cup over Infantino’s Fifa sell-off following unanimous vote

Uefa to boycott World Cup over Infantino’s Fifa sell-off following unanimous vote

Is the Maybach GLS the most excessive SUV?

By: Samuel Norman

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