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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Labour to be handed ‘spying powers’ on bank accounts in Fraud Bill

April 30, 2025

Labour is facing fresh questions over its Fraud Bill, which has been slammed for handing the government “spying powers”. The legislation, which passed in the Commons on Wednesday, bulks up the Department for Work and Pensions’ (DWP) ability to recover money directly from fraudsters’ bank accounts. The DWP pledged the reforms would deliver “the biggest [...]
UK fintech Revolut expands lifestyle reach with mobile plans

April 30, 2025

Revolut is to offer mobile plans to customers as the UK fintech continues to diversify its product range. The Canary Wharf-based business is looking to enter the mobile market in the UK and Germany later this year before eying further market expansion. Revolut said its plans will include unlimited calls, texts and data at home, [...]
Barclays boss breaks from FTSE 100 peers on Reeves lobbying

April 30, 2025

The chief executive of Barclays has defended the ring-fencing regulation facing British banks, despite his FTSE 100 peers calling on the Chancellor to abolish it. CS Venkatakrishnan told Sky News on Wednesday morning that the benefits of protection offered by the rules outweigh the costs of implementing and administering the system. The UK’s ring-fencing regime [...]
GSK shares rise as FTSE 100 giant ‘well positioned’ for pharma tariffs

April 30, 2025

British drugmaker GSK insisted it was “well positioned” to respond to the impact of sector-specific tariffs amid widespread speculation President Donald Trump is set to target pharmaceutical imports with his tariff agenda. Trump voiced his desire to slap tariffs on pharma products in the “not too distant future”. He previously said: “We don’t make our [...]
Santander UK’s provisions surge after branch closure backlash

April 30, 2025

Santander UK was struck with a surge in provisions in its first-quarter report as backlash mounted to its branch closure operation. The Spanish-headquartered lender’s provisions for liabilities and charges rose 69 per cent to £140m. The firm said £42m of this was driven by “charges relating to changes to our branch network”. This comes as [...]
Barclays shares jump as investment arm cashes in on market storm

April 30, 2025

Barclays enjoyed a bumper first three months of 2025 as its investment and private banking arms cashed in on market volatility. The bank’s share rose over 1.5 per cent during early trading on Wednesday. The FTSE 100 giant’s investment bank bolstered income by 16 per cent to £3.9bn, compared to £3.3bn from the same period [...]
Reeves unveils new crypto rules as she promises to back UK fintech

April 29, 2025

Chancellor Rachel Reeves pledged to back UK fintech as she unveiled new crypto rules during a landmark address to industry executives on Tuesday. Speaking at Innovate Finance’s 11th global fintech summit, Reeves pledged to support growth and consumers through new “clear” outlines for digital assets. The fresh crypto legislation follows on from the Treasury’s launch [...]
Rate setter calls for market digitalisation and touts Bank of England’s flexibility

April 29, 2025

Bank of England rate setter Dave Ramsden has called for bold action on digitalisation in a rebuke of concerns that the Bank’s prescriptive rules were stifling innovation. Speaking at the Innovate Finance Global Summit on Tuesday, the central bank Deputy Governor said widespread innovation in wholesale financial markets from authorities and industry would boost the [...]
BP shares plummet as firm chops buyback amid weakened oil market

April 29, 2025

British energy giant BP chopped its quarterly share buyback after President Donald Trump’s erratic tariff agenda sent the price of oil tumbling. BP cuts its buyback to $750m (£559m), compared to $1.75bn the previous quarter. The firm’s shares dropped nearly four per cent in early trading on Tuesday. This comes after the cost of a [...]
Puregym bulks up in US market as membership soars

April 29, 2025

UK-based gym operator Puregym is set to expand into the US after a bumper 2024. The firm increased revenue by 10 per cent to £605m as membership soared. The British gym franchise ended 2024 with 2.25m customers, adding 400k in the last year – a jump of 21 per cent. The group’s total gyms rose [...]

Union bosses call for another workers’ rights push amid Labour turmoil

The real Guinness Six Nations showdown is happening in the pub

How South Wales became one of the UK’s most exciting food destinations

By: Samuel Norman

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