By: Simon Hunt

City Editor Simon Hunt is City editor at City AM, covering the economy and financial markets. He was previously business correspondent for the Evening Standard and a reporter for Bloomberg News.

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London fintech Monese says it needs more cash to survive after Pockit takeover

September 9, 2025

Monese has warned it will need fresh investment if it is to survive for another year as the London fintech embarks on a change in strategy to put itself on a firmer financial footing. The current account and money transfer business, which last year was acquired by fintech firm Pocket in a rescue deal, said [...]
HSBC lands £333m in dividends from takeover of Silicon Valley Bank UK

September 9, 2025

HSBC Innovation Banking has handed a £333m in dividends to its parent company amid a surge in profitability after completing its first full year as a subsidiary of HSBC Group. The lender, which had been the UK subsidiary of Silicon Valley Bank until the latter’s demise in 2023, paid HSBC a special dividend of £198m [...]
Firms are needlessly ‘gold plating’ Consumer Duty rules, FCA policy director says

September 9, 2025

Scores of wholesale financial services firms are needlessly “gold plating” their compliance with Consumer Duty rules, the financial watchdog’s policy chief has claimed, as the regulator pushes back over concerns the rules have become too burdensome for businesses. Charlotte Clark, director of cross-cutting policy and strategy at the Financial Conduct Authority (FCA), admonished companies who [...]
Tom Tugendhat backs calls to marshal financial services to boost defence

September 8, 2025

Tom Tugendhat has backed a report calling for greater involvement from the financial services sector to boost defence spending in the UK. The MP for Tonbridge, who served as security minister from September 2022 to July 2024, said the City of London has a “vital role to play” in the country’s national resilience. “From Taiwan [...]
The Beauty Tech Group set for £350m London float

September 8, 2025

The owner of beauty technology firm CurrentBody is to float on the London Stock Exchange in a move which could value it at as much as £350m. The Beauty Tech Group, which also owns ZIIP Beauty and Tria Laser, unveiled plans to list on the London stock market to “take the business to the next [...]
My favourite Nasdaq-listed, Chinese-owned, Cayman-incorporated Scottish castle

August 22, 2025

A question: what’s the fastest-growing hotel group in Britain? You might opt for Premier Inn, the Whitbred-owned budget chain that’s set to open more than 1,000 new rooms this year. A wildcard choice might be Yotel, the group set up by Yo! Sushi man Simon Woodroffe that’s ballooned from a single site in 2007 to two dozen [...]
Standard Chartered shares rally after US rejects whistleblower claims

August 22, 2025

Shares in Standard Chartered rallied on Friday after it emerged the US government has rejected whistleblower claims that it breached sanctions rules. Allegations over the banking giant’s practices had courted the attention of US president Donald Trump, who last week took to Truth Social to post a link to an article about the claims published [...]
WH Smith shares tumble after retailer admits accounting blunder

August 21, 2025

Shares in WH Smith tumbled on Thursday after the newsagent and travel retailer admitted to an accounting blunder that has wiped tens of millions of pounds from its profits. The FTSE 250 firm said a “financial review” identified an overstatement of around £30m of expected headline trading profit in its North America division that was [...]
Tax-free pension lump sum could be slashed to fill Labour’s black hole

August 21, 2025

Tax-free lump sum withdrawals from pension pots could be slashed as Rachel Reeves scrambles for fresh ways to plug a £50bn hole in the public finances. The Chancellor is reportedly eyeing a cut to the amount of money pensioners can withdraw from their savings pot without paying tax to as little as £40,000. That would [...]
Costain shares tumble after HS2 delays spark revenue slump

August 20, 2025

Shares in Costain tumbled 13 per cent in the opening minutes of trade in London after the construction firm was hit by further delays to HS2. The Bishopsgate-based business said its overall revenue fell 17.8 per cent to £525m for the first six months of the year, of which revenue for its rail infrastructure services [...]

Mastercard issues winding up petition against London fintech Guavapay

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By: Simon Hunt

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