David Buik: The City needs a bit more fun Markets No one alive has worked in the City longer than David Buik. He tells Ali Lyon what’s changed since his first day in September 1962, and what, mercifully, has remained the same. It is 12:30 on a mild Tuesday afternoon, and as he takes to his blue leather stool and peruses his paper menu, David [...]
Canva announces sweeping job cuts after ‘hardest year yet’ Tech Design software giant Canva has announced a sweeping restructuring affecting more than a fifth of its global workforce, as slowing growth and mounting AI costs put pressure on the Australian tech company. The shake-up will affect 1,271 employees, equivalent to 22 per cent of its workforce, through redundancies, relocations and changes to existing roles. Co-founder [...]
Bank of England set for ‘further interest rate hikes’ as businesses boost jobs Economics The Bank of England is likely to raise interest rates several times in the coming months after businesses increased their headcount for the first time in over two years, analysts have predicted. Survey figures released by S&P Global, which are closely monitored by government officials and central bankers, showed stronger activity across services firms. [...]
Global markets cheer to ‘gridlock’ after Democrats sweep US midterms November 4, 2026 Global stocks rallied after the Democratic party swept the US midterm elections settings the country up for political “gridlock”. Democrats flipped control of both the House of Representatives and Senate, handing the party greater domestic control over US policy and introducing a major blocker to President Donald Trump’s agenda. In the US, a bill must [...]
As it happened: FTSE 100 rallies after Democratic sweep in midterms and oil retreats November 4, 2026 Welcome back to City AM‘s FTSE 100 liveblog. London’s blue-chip index has rallied into the afternoon while Wall Street also opened on the front foot after the midterm elections. Brent crude fell around $100 per barrel, extending the week’s decline as investors weighed up possible outcome of ongoing peace negotiations between the US and Iran. [...]
City AM Shadow MPC urges Bank of England to hike interest rates November 4, 2026 The Bank of England should raise interest rates on Thursday in order to “protect credibility” and stamp out any risks of inflation spiralling out of control, top economists have said. City AM’s Shadow Monetary Policy Committee, which consists of leading economists across industry and academia, has called on the Bank to lift interest rates by [...]
City watchdog ‘stands ready’ to act on bank windfall tax Budget leak November 3, 2026 The boss of the Financial Conduct Authority has said he is prepared to investigate a potential leak of market-sensitive information that sparked a rally in bank shares hours before John Healey’s maiden Budget. In a letter to the Treasury Committee, Nikhil Rathi vowed to engage with Treasury and Cabinet Office officials over how the details [...]
Barclays and HSBC bankers donate over $500k in US midterms November 3, 2026 Barclays and HSBC bankers donated over half a million dollars to US political candidates ahead of the midterm elections. Bankers who are employed at the two UK-headquartered giants flooded cash into US political figures as millions of Americans headed to the polls. Donors listing Barclays or one of its subsidiaries as an employer contributed just [...]
Barclays begins early motor finance payouts as FCA sets ground rules November 3, 2026 Barclays will begin offering payouts to motor finance consumers ahead of the forthcoming legal battle after the City watchdog introduced its “minimum expectations” for lenders wishing to settle early. The bank said it would make payments using the Financial Conduct Authority’s (FCA) redress scheme methodology and acceptance would be optional. Once a consumer accepts the [...]
Barclays and Natwest layoffs signal start of banking’s AI job squeeze November 3, 2026 Barclays, Natwest, Lloyds and HSBC toasted to a £14n profit haul in the third-quarter but sweeping job cuts stole the show. Samuel Norman takes a look at what the last three months signal for the sector’s future. As bank leaders stepped up to the podium for third-quarter earnings, the agenda had already been set for [...]