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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FCA boss rejects criticism of motor finance redress

August 5, 2025

The head of the UK’s financial watchdog has pushed back at industry claims that the wide scope of the motor finance redress scheme is “impractical”. Nikhil Rathi, chief executive of the Financial Conduct Authority said: “We know it is difficult. But you can’t say the law has been broken and it is too difficult to [...]
BP shares jump after oil major ups dividend and launches buyback

August 5, 2025

BP shares jumped on Tuesday despite the firm recording a hit to profit and revenue in the first half of 2025 as weaker oil prices and lower trading performance weighed on takings. The London-listed oil major posted total revenue of $95.6bn (£72bn), down from 2.7 per cent from the same previous last year, while profit [...]
‘Not the end of the story:’ Uncertainty for motor finance lenders after court ruling

August 5, 2025

Banking stocks may be revving up on the back of a legal win but motor finance lenders might find there is still trouble lurking under the bonnet. City banks dodged a £44bn liability after the Supreme Court upheld the appeal of two banks in the historic car-misselling case. On Friday, Close Brothers and First Rand [...]
S&U: Motor finance redress scheme must show a changed FCA

August 5, 2025

The chair of specialist lender S&U has said the motor finance redress scheme offers the UK’s financial watchdog the prime opportunity to turn its ‘regulate for growth’ rhetoric into action. Anthony Coombs hailed the “common sense” car finance ruling from the Supreme Court as attention turns to the response by the Financial Conduct Authority (FCA). But [...]
Motor finance ruling hands City banks £7bn stock boost

August 4, 2025

The FTSE 100’s banking giants added billions to their market value on Monday after a hefty boost from the Supreme Court’s motor finance ruling. Lloyds Banking Group bolstered its market capitalisation by over £3.5bn after a seven per cent surge to a five-year high on the back of the top Court’s ruling last Friday. The [...]
FTSE 100 banks outperform but face tougher waters ahead

August 4, 2025

The FTSE 100’s banking constituents breezed through the second quarter results season as interest income remained stable and trading income soared on the back of market volatility. The ‘Big Five’ banks of London’s flagship stock index – Barclays, HSBC, Natwest, Lloyds and Standard Chartered – pocketed a combined £12.8bn in the three months to June [...]
Close Brothers shares rocket after motor finance win

August 4, 2025

Shares in Close Brothers rocketed as markets opened on Monday after the bank won its landmark motor finance case at the Supreme Court. Shares in the FTSE 250 lender surged over 25 per cent during early trading, hitting a high of 500p. Close Brothers win Investors rushed to buy the shares after the Supreme Court [...]
Motor finance: Lloyds shares jump after ruling

August 4, 2025

Shares in Lloyds Banking Group and Close Brothers jumped in early deals this morning after the Supreme Court’s landmark motor finance ruling last week. Lloyds shares jumped 5.5 per cent in early deals to 80p – a five-year high. Shares in Close Brothers jumped 22 per cent. Analysts at Jefferies had said Lloyds shares would [...]
Motor finance redress scheme to cost up to £18bn, FCA says

August 3, 2025

The Financial Conduct Authority has confirmed it will consult on an industry-wide redress scheme following the Supreme Court’s motor finance ruling last Friday. The City watchdog is aiming to publish a consultation by early October, with total costs of the redress expected to be between £9bn and £18bn. The regulator said in June that any [...]
Motor finance lenders still on the hook after Supreme Court ruling

August 2, 2025

A lukewarm win in the landmark motor finance case has allowed City banks to skirt a nightmare scenario, whilst still remaining open to a regulatory redress scheme. The Supreme Court found that the customers’ claims against the lenders couldn’t succeed based on fairness, known as equity, or tort, which refers to any wrongful actions worthy [...]

London local elections 2026: Who will win in Lewisham?

Lewis Moody seeking sponsors for 500-mile ride in aid of MND

Inside the Wetherpoons pub with great Tower of London views

By: Samuel Norman

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