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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Wall Street banks toast to $130bn revenue in deal making boom

October 15, 2025

Wall Street banks raked in bumper profits, comfortably breezing past analyst expectations in the third quarter, driven by the continued strength of trading desks and a sharp revival in deal making. JP Morgan, Goldman Sachs and Citigroup brushed past estimates on Tuesday, with Jamie Dimon’s banking juggernaut collecting $14.4bn (£10.8bn) in profit – a 12 [...]
Hyperlayer lands £30m to help legacy lenders take on fintechs

October 15, 2025

London-based fintech Hyperlayer has secured £30m in fresh funding to support its mission to help established banks compete with digital first rivals. The firm’s tech is designed to work alongside existing banking infrastructure, which it says allows the legacy businesses to launch new products without complexity. Ex-Morgan Stanley International chief Rob Rooney, who found Hyperlayer [...]
Lords grill FCA on ‘deep lack of clarity’ in motor finance redress

October 15, 2025

A committee of lawmakers has blasted the Financial Conduct Authority over the “deep lack of clarity” it provided over its motor finance redress scheme. Lord Forsyth, the chair of the House of Lords Financial Services Regulation committee, said at an evidence session the City watchdog had “made it considerably more complicated and costly” in its [...]
UK banks tax rate rises as fears of a budget raid spike

October 15, 2025

The tax rate on the UK banking sector rose in the last financial year as the industry braces for a potential hike to its financial burden in the Autumn Budget. A fresh study from banking industry body UK Finance and PwC revealed London lender’s total tax rate rose 0.6 per cent to 46.4 per cent [...]
FTSE 100 Live: Ofcom fines Royal Mail, CMA’s vet crackdown

October 15, 2025

Good morning from the City AM liveblog team. 15 months on from Labour’s stunning general election victory and a month out from its next budget, how is the City feeling about the current government? It’s safe to say that enthusiasm has waned a little since high expectations were set last year. Some City analysts are [...]
Satsuma Technology beefs up top team with ex-PlayTech hire

October 14, 2025

Satsuma Technology named its new chief financial officer on Tuesday as part of a plan to beef up its top team. The London-listed group – which provides subnet infrastructure and develops specialised AI agents – appointed Andrew Smith as its new finance boss. Smith had served as chief financial officer for FTSE 250 firm Playtech [...]
JP Morgan bulks up financial cushion as Dimon warns of uncertainty

October 14, 2025

JP Morgan has bulked up its financial cushion against loan losses as chair Jamie Dimon warns of heightened risk and global uncertainty. The lender set aside an additional $810m (£610.2m) to cover potential losses from unpaid loans. This defensive money consisted of $608m earmarked for consumer loans – such as credit cards and mortgages – [...]
Revolut’s UK banking licence bid faces global risk scrutiny

October 14, 2025

Revolut’s pursuit of a full UK banking licence has hit another stumbling block as regulators seek further information on the fintech’s risk controls in light of its accelerating overseas growth. Officials at the Bank of England have sought commitment from the digital banking juggernaut that it will bulk up its risk management infrastructure to match [...]
Goldman Sachs chief warns Rachel Reeves against bank tax

October 14, 2025

The boss of Goldman Sachs has warned Chancellor Rachel Reeves that an increase to the financial burden slapped on the banking sector would dent economic growth ambitions. In a private meeting with the Chancellor, David Solomon said hitting the industry with higher taxes would dampen wider prospects for the country’s growth. The remarks come ahead [...]
Legal & General’s City of London office hit with suspected vandalism

October 14, 2025

The Legal & General headquarters in the City of London has been hit with an apparent act of vandalism this morning. Workers heading to the office of the financial services giant, which sits in the heart of the City, witnessed security guards cornering off the building and red paint splattered across windows. Superintendent Jesse Wynne, [...]

Poundland owner ‘commits to protecting jobs’ after pressure from business secratary

Ice Hockey World Championships sponsor threatens to pull out over Russia

Andy Burnham says stockpile beans and tuna: Here’s the wine to pair with that

By: Samuel Norman

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