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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Secure Trust Bank, Bank of Ireland up motor finance provisions

October 20, 2025

Secure Trust Bank and the Bank of Ireland have added themselves to a growing list of businesses upping their provisions ahead of a flurry of claims expected in connection with the motor finance scandal. Following the publication of the UK finance watchdog’s review into the saga, Secure Trust Bank said it had more than tripled [...]
Fintech industry takes aim at ‘logic-defying’ banking watchdog

October 20, 2025

The industry body for UK fintech will today take aim at the banking watchdog in a scathing report that will blast “logic-defying” regulation. A fresh report from Innovate Finance, seen by City AM, will accuse the Prudential Regulation Authority’s (PRA) of “excessive” requirements that create an “uneven playing field for UK challenger banks, placing heavy [...]
Autumn Budget: Wealth tax would drive £100bn out of UK economy

October 16, 2025

Rachel Reeves is facing renewed calls to rule out any form of wealth tax in the Autumn Budget with concerns such a move would drive £100bn out of the UK economy. The Chancellor confirmed on Wednesday higher taxes on the nation’s wealthiest would be a “part of the story” in the Budget. But fresh research [...]
Rachel Reeves: Higher taxes on wealthy ‘part of story’ for Budget

October 16, 2025

Rachel Reeves has confirmed a tax grab on the UK’s wealthy will be “part of the story” for her forthcoming Autumn Budget as she dismissed critics who fear an exodus from the nation’s richest. The Chancellor has faced rallying calls to launch a cash grab on the wealthy as she looks to strum up funds [...]
FTSE 100 Live: GDP ‘stumbles’ to end of year, Premier Inn owner’s earnings dip

October 16, 2025

Good morning from the City AM liveblog team. Amid all the doom and gloom, it was a moment to cheer for bankers in the Square Mile yesterday. Rules governing bonuses are getting relaxed, which could lead to a tastier payout come the new year. The new rules will allow part-payment of bonuses for the most [...]
Autumn Budget: Reeves must focus on growth, not ‘gimmicks’

October 16, 2025

Ahead of the Autumn Budget, City Reporter Samuel Norman sits down with top industry names for a Budget Briefing. This week, the chief executive of founders club Helm calls for bold innovation policies took take centre stage. Chancellor Rachel Reeves should use her second Autumn Budget to make bolder swings for the UK’s innovation economy [...]
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 [...]

Sport business quiz 2025: Test your knowledge with City AM’s topical teasers

Sport business quiz 2025: Test your knowledge with City AM’s topical teasers

Here are the biggest, best cultural moments of 2025

By: Samuel Norman

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