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 [...]
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 [...]
Leeds Reforms trigger wave of recruitment in legal banking October 14, 2025 Job vacancies for banking lawyers are expected to soar, driven by the government’s Leeds Reforms which seek to unlock capital and overhaul the ring-fencing framework. Labour market analytics from Vacancysoft reveal that Britain’s legal sector is predicting significant growth in banking roles, both in private practice and in-house at major banks. The report projected a [...]
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, [...]
Andrew Bailey: Stock markets could crash if debt levels spiral October 13, 2025 Bank of England Governor Andrew Bailey has warned that stock markets could suffer a “disorderly adjustment” due to spiralling debt levels and other vulnerabilities. Ahead of a seminal week in Washington DC where global financial leaders are set to discuss the future of multilateralism, Bailey said bullish markets and spiralling sovereign debt levels had left [...]
Why don’t London’s luxury hotels make any money? October 13, 2025 London is home to some of the most iconic and well-known luxury hotels in the world. The Savoy, the Ritz, The Dorchester and Claridge’s, to name just a few, are renowned the world over and have played host to the ultra wealth, celebrities and royalty. Also appearing in a string of popular films, London’s luxury [...]
The Savoy Hotel sheds jobs as losses widen October 13, 2025 Losses widened at The Savoy Hotel as it shed jobs during its latest financial year while a major renovation project started. The five-star London hotel has posted a pre-tax loss of £19.6m for 2024, having also lost £17.5m in 2023. The last time The Savoy Hotel made a pre-tax profit was the £5.9m it reported [...]
JP Morgan warns on AI bubble amid Bank of England caution October 9, 2025 JP Morgan boss Jamie Dimon has joined the chorus of warnings over an AI-driven market boom that some fear could go the way of the dot-com crash. Speaking from Bournemouth, where the bank announced a £350m investment in its local campus, Dimon described himself as “far more worried than others” about a serious market correction [...]
FTSE 100 Live: Lloyds and HSBC stock tumble drags index into red October 9, 2025 Good morning from the City AM liveblog team. While the FTSE has been on a tear since the start of the year, there’s no denying that the glittering allure of gold is the real asset that investors can’t turn their eyes away from. A flurry of political drama across several major economies has reignited fears [...]
Mark Kleinman: Reeves heads outside in hunt for new banking watchdog October 9, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column Reeves heads outside in hunt for new banking watchdog File it under ‘Rachel Reeves’s headaches’. A search for Britain’s top banking regulator is about to get underway, and the word in Whitehall is that the chancellor [...]