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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Pennon Group records loss after parasite scandal

March 31, 2025

Pennon Group, the British utility firm which owns South West Water, said in a trading update this morning that the costs of last year’s Brixham water supply scandal had forced it into a loss in the second half of last year. The water company said lower customer demand and inflationary cost pressures were offset by [...]
Pets at Home shakes off current market woes but warns of struggles ahead

March 31, 2025

Pets at Home announced its profit had fallen in line with expectations in its performance update, but warned of struggles ahead. Its share price fell more than 10 per cent in early trades. The group predicted profit before tax for the year at £133m, in line with previous guidance. It said trends in the final [...]
Thames Water: KKR ‘preferred partner’ for group

March 31, 2025

The firm said it had selected KKR as a preferred partner following a "detailed assessment of proposals received".
Motor finance: Lloyds, Close Brothers and Santander brace for ‘shockwaves’

March 31, 2025

Judgement day nears for some of the UK’s biggest lenders as the motor finance scandal heads to the country’s highest court this week. The Supreme Court will decide whether to uphold the Court of Appeal’s October ruling that it was unlawful for banks to pay a commission to a car dealer without the customer’s informed [...]
Monzo, Starling, Zilch: The fintech IPOs that could boost London

March 30, 2025

London markets have suffered a torrid couple of years, but could fintech help turn the tide? Swedish fintech Klarna marked the latest snub to the City after it announced it was pursuing a US-listing despite hopes the firm would float in London. This followed 88 companies leaving the London Stock Exchange (LSE) last year, including [...]
Lloyds sends 200 senior staff to Cambridge University for AI bootcamp

March 28, 2025

Lloyds Banking Group has set out plans to send over 200 senior employees on an 80-hour AI bootcamp at the University of Cambridge. The FTSE 100 lender has joined with education technology firm Cambridge Spark for a “bespoke six-month training programme” to enhance AI capabilities across its management. The first cohort of 30 Lloyds leaders [...]
Santander becomes first major lender to loosen mortgage rules

March 28, 2025

Santander has become the first major UK lender to relax its mortgage rules following a nudge from the Financial Conduct Authority (FCA). Homebuyers could be able to borrow an extra £35,000 on a mortgage under the changed rules. The UK’s fourth-largest mortgage lender will reduce rates on borrower’s stress tests, which are used to check [...]
HSBC investment bankers axed on bonus day received no bonus

March 27, 2025

HSBC issued no bonuses to axed investment bankers, despite letting them go on the day they were set to learn their pay award figures. The FTSE giant told staff in its investment arm last month that they were facing the chop after the firm announced in January it would wind down mergers and acquisitions advisory [...]
Deutsche Bank bets £250m on UK fintech Abound

March 27, 2025

Deutsche Bank announced on Thursday morning it had given a £250m backing to UK fintech Abound, boosting the firm’s lending capacity. The latest round of funding compounds existing support from Citi, Waterfall Asset Management and LuminArx – and takes the fintech’s total credit ceiling to £1.6bn. Abound said the additional capital would provide “firepower to [...]
Arbuthnot shares dip as falling interest rates weigh on profit

March 27, 2025

Arbuthnot Banking Group faced the sting of easing interest rates in its annual results report as profit at the historic lender tumbled. The AIM-listed bank recorded £35.1m in profit before tax in its full-year results, a drop of over £10m from the £47.1m booked in 2023. Shares at the lender were down as much as [...]

London Stock Exchange boss: We should know which companies our pensions are backing

English Football League ‘concerned and disappointed’ at PFA legal challenge

This is Bentley’s first electric car, the Torcal

By: Samuel Norman

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