As it happened: Stocks jump on peace hopes; Reeves hit by falling retail sales and surge in borrowing Markets Good morning and welcome back to the CityAM liveblog. Oil prices remain volatile and heightened as peace talks in the Middle East continue to run into stumbling blocks. Brent crude futures were up to $104 this morning following reports that Iran’s Supreme Leader was ordering for the nation’s enriched uranium reserves to remain in [...]
‘It will reduce jobs’ – Jamie Dimon sounds off on AI’s impact on banks Banking One of the world’s leading financial figures has warned AI will inevitably lead to a cut in jobs amid growing jitters around the impact the new tech will have on the banking sector. Jamie Dimon – the top boss of America’s largest bank, JP Morgan – said: “I think [AI] will reduce our jobs down [...]
Exclusive: Lloyds in tie-up with Google to build AI agents Banking Lloyds Banking Group has formed a tie-up with Google as the financial services giant sets its sight on building its own AI agents, CityAM can reveal. The blue-chip lender is leveraging Google Cloud – the tech giant’s suite of computing services – and the bank’s existing Large Language Model to create a new internal [...]
European banking jobs face AI reset ‘not mass job losses – for now’ April 10, 2026 European banking jobs are in line for a boost from AI despite widespread fears the integration of new tech will trigger mass layoffs, according to fresh analysis. The headcount at the top lenders is expected to get a four per cent average uplift, analysts from Bloomberg Intelligence said in a new note. The increase is [...]
Bank of England: We can’t eliminate bias in AI March 16, 2026 A top boss at the Bank of England has warned the use of artificial intelligence programs will never be bias-free and instead users must be aware of the risk. Jem Davis, chief compliance officer at the Bank of England, said: “My view is you’re probably not going to be able to eliminate bias completely, but [...]
‘I see people doing dumb things’: Jamie Dimon warns of crisis-style AI reckoning February 24, 2026 The world’s most influential banker has drawn parallels to the time before the global financial crisis amid inflated asset prices and peers doing “dumb things”. Jamie Dimon, the top boss of Wall Street behemoth JP Morgan, said: “Unfortunately we did see this in ‘05, ‘06, ‘07, almost the same thing. “The rising tide lifts all [...]
Reeves lands £30bn reprieve ahead of Spring Statement February 20, 2026 Rachel Reeves has secured a record-breaking borrowing reprieve in fresh data that comes ahead of the Chancellor delivering her Spring Statement in March. The Treasury has been handed a surplus of £30.4bn in January, new figures from the Office for National Statistics (ONS) show, after a surge in tax receipts. The figure is £15.9bn higher [...]
FTSE 100 Live: Zurich and Beazley £8bn deal gets time; Defence and bank stocks rally February 16, 2026 Good morning and welcome back to the CityAM liveblog. The first round of 2026 tech wobbles kicked into action last week and revived fears of an AI bubble. When Anthropic released a new AI tool designed to help in-house legal teams triage agreements and draft routine responses, the reaction trickled down through law firms straight into [...]
FTSE 100 Live: Starmer unease rattles markets; Big tech sell-off February 6, 2026 Good morning and welcome back to the CityAM liveblog. Speculation over Keir Starmer’s future has unleashed a fresh round of market unease as investors dumped the pound, UK equities and long-dated government bonds amid rising political uncertainty. The gulf in price between the UK’s short- and long-term debt – known as the yield curve – reached [...]
Big Tech’s AI borrowing boom tests US bond market January 27, 2026 Big Tech is on track to become the dominant force in the US corporate bond market, as the race to build AI infrastructure drives an unprecedented surge in borrowing that is beginning to worry investors. By the end of the decade, around half of the 10 largest borrowers in the US bond market will be [...]