Businesses ‘yearning for stability’ says UK bank chief March 13, 2026 Businesses are “yearning” for stability, according to a top banking chief executive, as the turmoil in the Middle East threatens to upend the global economy. Ian Corfield, the boss of London-listed Secure Trust Bank, told City AM: “I think the reality is that even before things kicked off a month ago, obviously nerves were increasing. [...]
KBRA Releases Research – Electric Vehicle Residual Values in Europe: On the Road to Greater Stability? March 12, 2026 KBRA releases research examining recent trends in electric vehicle (EV) residual values across Europe and the implications for auto asset-backed securities (ABS). Following a sharp repricing after pandemic-era supply constraints unwound, recent data indicate that the pace of EV residual-value declines has moderated. The report also highlights how EV adoption trends, charging-infrastructure expansion, and evolving [...]
FTSE 100 Live: Iran war ‘certainly not good’ for UK economy, says Rachel Reeves March 11, 2026 Welcome back to the City AM liveblog for continued coverage of a frenzied week in global markets. The Chancellor has told the Treasury select committee that the ongoing fallout from the Middle east is “certainly not good for the British economy”. Following the “most intense” day of fighting in the region – and just a [...]
KKR-backed fintech takes £13m hit from motor finance scandal March 10, 2026 A UK fintech backed by investment giant KKR has posted a hefty loss after being forced to set aside cash for the brewing motor finance scandal. Oodle Finanical Services recorded a pre-tax loss of £38m for the financial year ending 30 June 2025, after the firm was forced to set aside a whopping £12.8m in [...]
City watchdog plots streamlined motor finance scheme after backlash March 4, 2026 The UK’s financial watchdog is looking to “streamline” its long-anticipated motor finance compensation scheme following widespread backlash across the industry. The Financial Conduct Authority (FCA) provided a fresh update to markets on Wednesday, stating it was considering over 1,000 responses to its proposals for the industry-wide redress scheme. It added “if” it was to proceed [...]
FTSE 100 Live: Centrica profit falls; Stocks dip after record rally February 19, 2026 Good morning and welcome back to the City AM liveblog. It’s been quite the week for the “old and unexciting” FTSE 100. The blue-chip index closed 1.2 per cent higher on Tuesday led by a rally in the mining sector. Antofagasta led the pack up over 10 per cent, which came a day after its [...]
Carmakers to skirt a crash in £11bn motor finance redress February 18, 2026 UK carmakers are set to curb a hefty hit in the City regulator’s forthcoming redress scheme for the motor finance scandal. Captive lenders, in-house lenders of manufacturers, are to be granted some reprieve by the Financial Conduct Authority (FCA) after relentless lobbying that the scheme could hamper investment in the UK. The FCA was forced [...]
Car finance compensation could be the spend signal that boosts the economy February 6, 2026 When consumers receive cash that corrects a past wrong, they use it to replace cars, clear household bills, book holidays and support small businesses. That spending ripples through the economy far faster than most top-down interventions, says Brandon Lewis When bankers were finally forced to confront the true scale of the Payment Protection Insurance (PPI) [...]
Banks ombudsman complaints slump after Treasury overhaul February 5, 2026 Complaints to the banks ombudsman fell to the lowest level in two years in the last quarter of 2025 as changes from regulators and Treasury ease the caseload. Between October and December the Financial Ombudsman Service (FOS) received 47,300 complaints – a major drop from the 68,400 lodged the year prior. It also maintains a [...]
Secure Trust Bank sells motor finance arm after £21m hit February 5, 2026 Specialist lender Secure Trust Bank has offloaded its motor finance arm, becoming the latest UK bank to retreat from the sector, which has been wrapped up in scandal. The bank sold its remaining vehicle finance loan book to European Alternative Investment Fund Manager LCM Partners in a move expected to increase the bank’s CET1 ratio – a [...]