By: Samuel Norman

City Reporter Samuel is a City Reporter for City AM covering banking, fintech and more across the City. He is a gold-standard NCTJ qualified journalist who's previously worked at the Daily Mail and Sky News. He can be contacted at samuel.norman@cityam.com and posts at x.com/samnormanwrites.

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HSBC’s return-to-office plans risk boss’ cost-cutting ambitions

June 23, 2025

HSBC’s cost-cutting agenda is set to face a major disruption as the lender faces a shortfall of desks in its office move. The banking juggernaut has been reported to be mulling a return-to-office mandate that would force employees back into the office for at least three days a week. This comes as the bank is [...]
Lammy: Iran blocking Strait of Hormuz would be ‘catastrophic mistake’

June 23, 2025

Foreign secretary David Lammy has warned Iran that blocking the crucial Strait of Hormuz shipping lane would be a “mistake” after the nation vowed repercussions following the US’ attacks. Lammy told the BBC this morning: “It would be a catastrophic mistake. It would be a mistake to blockade the Strait of Hormuz.” The foreign secretary [...]
Spectris agrees to £3.8bn takeover but KKR threatens bidding war

June 23, 2025

Industrial group Spectris has agreed to a £3.8bn takeover by US private equity Advent but a bidding war could be brewing as KKR mulls a rival offer. The FTSE 250 firm has been valued at £37.73 per share in the deal. Shares jumped 13.5 per cent as markets opened on Monday to around 3,726. Private [...]
Revolut boss set for Elon Musk-style payday at $150bn valuation

June 23, 2025

The chief executive of Revolut could be set for a multibillion-dollar payout if the fintech’s valuation passes the $150bn milestone, sparking comparisons to Elon Musk’s controversial Tesla package. Nik Storonsky, who founded Revolut in 2015, has an incentive deal which would increase his stake in the London-based fintech by several percentage points if the valuation [...]
Exclusive: Tandem to name ex-Vanquis chief as new boss

June 23, 2025

Digital lender Tandem will this week name the former boss of specialist lender Vanquis and Sainsbury’s retail banking arm as its new chief executive, City AM can reveal. The fintech challenger is set to appoint Neil Chandler, who will replace outgoing chief Alex Mollart. Chandler has most recently served at the helm of digital Banking-as-a-Service [...]
Brent crude could hit $110 if oil flow through Strait of Hormuz halved

June 23, 2025

Oil prices could surge to new highs, Goldman Sachs has warned, after the US attacked three sites in Iran spiking fears that a crucial Iranian-controlled waterway could be disrupted. The price of Brent crude oil spiked 5.7 per cent in the aftermath to $81.40 a barrel – marking a five month high. Prices later gave [...]
Former Centrica boss in running to be next BP chair

June 21, 2025

The former boss of multinational energy firm Centrica is among those in talks to be the next chairman of BP. Sam Laidlaw is being considered as a successor to Helge Lund, who announced he would step down from BP in April. Laidlaw is one of a number of prominent candidates in the running to chair [...]
Top private school faces job cuts after Reeves’ tax grab

June 21, 2025

A prestigious private school has said it may be forced to make job cuts due to the Labour government’s removal of VAT exemption on school fees. Edinburgh-based Fettes College – where former Prime Minister Tony Blair is among alumni – has said the introduction of VAT on school fees contributed to the “difficult” decision to [...]
High street banks’ SME lending comeback won’t rattle challengers

June 20, 2025

High street banks are flocking back to small- and medium-sized enterprise (SME) lending but face a battle against fintechs which have captured their spot. The Big Four banks have shed their market stronghold in SME lending. Research from the British Business Bank in March revealed challenger banks make up around 60 per cent of gross [...]
Challenger banks scout exit routes as giants circle Metro and TSB

June 19, 2025

Analysts are pencilling in a fresh wave of banking deals with challenger banks set for a market departure. Moody’s analysts have said challenger banks will “seek exit after weak performance” as industry juggernauts set their sights on ramping up their market share. Takeover talk has gripped the City after reports Shawbrook’s private equity owners were [...]

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Wuthering Heights is a bodice-ripper for the OnlyFans generation

By: Samuel Norman

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