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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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, [...]
Close Brothers takes swing at FCA after near-doubling motor finance provisions

October 14, 2025

Close Brothers’ frustration at the City watchdog has stepped up a gear after the firm was forced to almost double its provisions for the motor finance scandal. The FTSE 250 lender, which had previously set aside £165m, hiked its provisions by a further £135m following the Financial Conduct Authority outlining details of its industry-wide redress [...]
FTSE 100 Live: Retail sales slow; Unemployment figures tick up

October 14, 2025

Good morning from the City AM liveblog team. After a dismal first three quarters of the year, London’s IPO market is finally roaring back, returning the capital to a level playing field with its rival listing venues after a string of fresh flotation announcements. That’s the view of bosses at top City broker Peel Hunt, [...]
‘Renewed confidence’ in UK innovation economy to boost funding

October 14, 2025

A shot of “renewed confidence” in the UK’s innovation economy is set to deliver the largest year for funding since 2022. The UK’s start ups and scale ups secured $9bn (£6.75bn) in venture capital funding in the third quarter, teeing 2025’s year-to-date investment up to match last year’s full-year total of $17.3bn. With the third [...]

Stephen Fry launches £100k lawsuit against tech conference over fall

London music venues to open for World Cup as pubs face last orders

The Inner Table podcast host: Why it’s wrong to demonise alcohol

By: Samuel Norman

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