Rachel Reeves’ sister takes top legal role in Burnham’s Cabinet overhaul Politics Prime Minister Andy Burnham has picked Ellie Reeves, the sister of former Chancellor Rachel, to serve as the chief legal adviser to the government. Lord Richard Hermer KC, a close ally of Keir Starmer who played a pivotal role in shaping the legal and international stance of Starmer’s government, was dismissed as attorney general and [...]
Natwest hit with £250m lawsuit tied to Thurrock Council scandal Banking Natwest could be on the hook for more than a quarter of a billion pounds for allegedly aiding a businessman in secretly transferring funds from his investment firm. The FTSE 100 giant’s subsidiary – the Royal Bank of Scotland – has been engulfed in the collapse of Rockfire Group, which was triggered by a fraud [...]
FTSE 100 Live: Natwest bumper dividend, stocks tick up Markets Good morning and welcome back to the City AM liveblog. The City was left stunned yesterday after Schroders entered into a surprise £10bn deal with Nuveen, which holds $1.4tn in assets, after speculation of a sale was rebuffed in July. Schroders Group chief Richard Oldfield had previously squashed rumours that the Schroder family, who control [...]
SFO drops former AIM London Mining bribery case after decade-long probe February 12, 2026 The Serious Fraud Office (SFO) officially dropped all charges against the former executives of London Mining, a decade after launching its probe into alleged bribery and corruption. The SFO launched an investigation in 2016 into London Mining Plc regarding alleged bribery to secure favourable treatment in Sierra Leone between 2009 and 2014. Former CEO Graeme Hossie, CFO Rachel [...]
Nick Ephgrave announces surprise retirement from Serious Fraud Office January 15, 2026 Nick Ephgrave will step down as director of the Serious Fraud Office (SFO) two and a half years before his first term was due to finish. The former assistant commissioner of the Metropolitan Police was appointed as the SFO’s director, taking over from Lisa Osofsky, who oversaw several errors during her tenure. Ephgrave was the [...]
FTSE 100 Live: Gold surges amid Trump tensions; JLR leads growth rebound January 15, 2026 Good morning and welcome back to the City AM liveblog. Rachel Reeves’ report card for 2025 has received another dim review with fresh figures from the Office for National Statistics (ONS) showing growth came in at a sluggish 0.1 per cent in the three months to November 2025. This was led by a modest rebound [...]
‘Downfall’: Home REIT faces SFO probe into suspected bribery and fraud January 14, 2026 The UK’s top financial crime unit has unveiled a major probe into the past management of Home REIT after identifying as much as £300m in suspected fraud and bribery. The Serious Fraud Office (SFO) said it has carried out raids and arrests into the former London-listed social housing company, including searches at homes in Altrincham, [...]
Auditor MHA queried source of funds in Sanjeev Gupta-owned firms before resigning December 11, 2025 MHA queried the source of funds for various intercompany transactions before resigning from an engineering firm owned by metals magnate Sanjeev Gupta, City AM can reveal. The London-listed accounting firm has stepped down as auditor of Wolverhampton-based Clydesdale Engineering, an automotive and defence manufacturer owned by Gupta’s Liberty Steel Group, part of his GFG Alliance [...]
Auditor MHA resigns from Sanjeev Gupta-owned engineering firm December 9, 2025 MHA has resigned as auditor for a subsidiary of the beleaguered metals group controlled by tycoon Sanjeev Gupta, City AM can reveal. The London-listed accounting firm has stepped down as auditor of Wolverhampton-based Clydesdale Engineering, an automotive and defence manufacturer owned by Gupta’s Liberty Steel Group, part of his GFG Alliance conglomerate. MHA declined to [...]
Budget: Treasury focused on ‘closing tax gap’ with US-style whistleblower scheme November 26, 2025 Rachel Reeves revealed in her Budget that the government continues to focus on closing the tax gap, with new measures set to raise an additional £2bn in tax revenue by 2029-30. The Chancellor pledged that the government will target “fraudulent businesses” that don’t pay their tax by providing HMRC with new compliance powers. A large [...]