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 [...]
Meet Reeves’ outsider tasked with steering the City to growth March 3, 2026 The City has rolled out the red carpet for the banking watchdog’s new chief after Katharine Braddick, a seasoned veteran of the financial trenches, was named on Friday as the successor to Sam Woods. For a cool £314,000 a year, she’s set to take on the brief of steering the UK’s banking sector. Chancellor Rachel [...]
Vanquis boss defends scrapping dividend as bank swings to profit February 26, 2026 The boss of Vanquis Bank has said he makes no apologies for a “conservative” approach to capital distribution as he launched a staunch defence of the group’s decision to axe its dividend for the second consecutive year. Ian McLaughlin, who took the helm at Vanquis in August 2023, said the bank’s “number one priority” was [...]
Yen weakens after Takaichi selects dovish candidates for Bank of Japan February 25, 2026 The yen slipped sharply against the US dollar on Wednesday morning, after Japan’s prime minister Sanae Takaichi picked two ‘dovish’ candidates for roles at the country’s central bank. Takaichi nominated academics Ayano Sato and Toichiro Asada who both favour economic stimulus and lower interest rates, raising questions they could challenge Bank of Japan governor Kazuo [...]
Bank to business lending growth to halve amid global tensions February 23, 2026 UK bank to businesses lending growth is forecast to halve this year as firms feel the pinch of challenging conditions amid global tensions. Net growth in the value of lending from the banking sector to businesses is tipped to slow to 3.5 per cent this year, standing at nearly half of the 6.9 per cent [...]
Natwest and Lloyds shares lead FTSE 100 rally after bruising week February 16, 2026 Natwest led a rally across Britain’s banking giants on Monday morning as lenders patched their wounds after a bruising week on the stock market. The bank topped the FTSE 100’s risers at the starting bell, gaining over four per cent in early trading to 603.60p. Barclays was shortly behind, advancing over 2.5 per cent to [...]
UK fintech Zempler Bank snapped up for less than half previous valuation February 12, 2026 London-based fintech Zempler Bank has been snapped up by Nigeria’s biggest bank in a deal that has slashed the firm’s valuation, CityAM can reveal. The small business lender – formerly known as Cashplus – has been acquired by The Access Bank UK with a price tag of around £3.45p per share. The sale represents [...]
Barclays kicks off £15bn shareholder bonanza after profit rises February 10, 2026 Barclays kickstarted plans to dish out heaps of cash to shareholders on Tuesday after the bank’s profit breezed ahead of expectations for the 2025 financial year. The FTSE 100 giant launched a fresh £1bn share buyback after pre-tax profit soared 13 per cent in the last 12 months to £9.1bn. This came ahead of internal [...]
Mandelson to Epstein: JP Morgan should ‘threaten’ UK over banker tax February 2, 2026 Lord Peter Mandelson told Jeffrey Epstein that the boss of banking giant JP Morgan should “mildly threaten” the UK Treasury over a tax on banker bonuses whilst the peer was serving as business secretary. New bombshell revelations in the latest drop of the Epstein files by the US Department of Justice showed Mandelson, who worked [...]
Nationwide reigns supreme in bank switch war as Santander falters January 29, 2026 Nationwide maintained its top spot in the tussle for current account switchers in the third quarter of 2025 as the mutual sweetened its offer for new joiners. The building society – which was slapped with a £44m fine in December for failing to flag Covid fraud – secured a net gain of 41,450 switchers after [...]