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Home
Professional Services
Banking & Finance
Banking & Finance
Starling Bank's profits tumble as tougher competition takes toll
By City AM
Starling said it had been hit by higher costs as it ramped up its investment levels in a more competitive fintech market, with staff expenses a major factor in the increased expenses
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HSBC intensifies European downsizing, slashing investment bank roles amid strategic Asian pivot
By City AM
The bank reportedly cut more than two dozen investment bank jobs in Europe, with the cull including the head of fixed income research for the Middle East and North Africa
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Hargreaves Lansdown backs FTSE small cap surge amid low valuations
By City AM
The investment platform said that the "compelling" case for investing in smaller companies in the º£½ÇÊÓÆµ has been somewhat overlooked by investors, as it predicted a rally for the FTSE small cap sector.
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BGF commits £100m to back Welsh high-growth potential firms
Deals
Launched in 2011 it has to date made £47m worth of equity investments into Welsh firms
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º£½ÇÊÓÆµ fintech giants Zopa and Clearscore exceed targets in national cost of living initiative
By City AM
The Fintech Pledge, which includes 57 fintech and tech firms, has exceeded its target of 25m actions to help º£½ÇÊÓÆµ consumers improve their financial resilience
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Welsh building societies want clarity on the future of cash ISAs
Finance
Principality and Swansea building societies have warned against any diversion between what people can invest in cash versus stocks and shares ISAs
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New £80m funding pot to support SMEs in Midlands and North
Finance
British Business Bank and West Midlands Pension Fund supporting new debt finance vehicle
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AJ Bell shares leap as investors flock to give it £3.3bn boost
By City AM
The Salford-headquartered group's assets under administration have hit a new peak of £90.4bn, buoyed by investors injecting £3.3bn and the firm benefiting from £600m of favourable market movements.
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Pride Cymru confirm Principality Building Society as main sponsor for third consecutive year
LGBTQ+
This year's Pride weekend event will be staged next month
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Investec profit soars to more than £1bn as lending and deposits rise
By City AM
The FTSE 250 bank posted a 7.8% annual rise in operating profit to just over £1bn for the year to March 31, 2025, which beat its own upgraded forecast in March
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HSBC staff warned their bonuses will be slashed if they don't return to the office
By City AM
The º£½ÇÊÓÆµ-based bank has told all staff in retail and domestic commercial arm that they could be paid less if they don't follow the firm's three-day minimum requirement to work in the office
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Angela Rayner pushed for £4bn tax raid on savers in lead up to Spring Statement
By City AM
Angela Rayner reportedly pushed for a £4bn tax raid on wealthier Brits in the lead up to the Spring Statement in signs of a senior Cabinet level split on economic policy
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Lloyds Banking Group boss grilled over motor finance scandal
By City AM
Chief executive Charlie Nunn said the bank had not seen "evidence of harm" from its operation in the motor finance market, but had made provisions for a potential Supreme Court ruling
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Nearly half of º£½ÇÊÓÆµ millennials to invest in crypto amid fears of market turmoil
By City AM
A new EY report has revealed that nearly half of º£½ÇÊÓÆµ millennials are planning to invest in digital assets such as cryptocurrencies in their investment portfolios
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Almost 60% of º£½ÇÊÓÆµ investors think gold will increase in value in the next 12 months
Banking & Finance
Investors are increasingly turning to gold as a safe haven asset which is exempt from capital gains tax, according to a new survey
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Revolut selects Paris for new Western Europe HQ with €1bn investment plan
By City AM
The fast-growing fintech firm will make Paris its new Western Europe headquarters
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Natwest and Lloyds to cash in as Chancellor hints at ring-fencing reform
By City AM
Rachel Reeves has told top bank bosses she is "open-minded" to ditch the ring-fencing regime imposed on major banks, after HSBC, Lloyds, Natwest and Santander lobbied her to scrap the 15-year-old legislation last month
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Business consultancy plans move to new Birmingham office
West Midlands
Sedulo will also bring a former bar popular in the business district back to life as an event space
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One in ten Brits don't have a penny in cash savings, FCA warns
By City AM
The Financial Conduct Authority's Financial Lives Survey 2022 found that people's ability to meet financial commitments is being stretched, with one in four having missed payments
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Natwest shares hit decade high as government continues to reduce stake
By City AM
The government is continuing to reduce its stake in the lender, with the FTSE 100 giant's stock up nearly 1% and touching highs of 498.8p
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'Investment magnet' financial services injected huge £281bn into º£½ÇÊÓÆµ economy
By City AM
Financial services have been a key battleground in the spat between the º£½ÇÊÓÆµ and EU over market access, with the º£½ÇÊÓÆµ government recently unveiling plans to make the City more competitive
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Direct Line suffers shareholder revolt over huge payday for insurance giant's chief
By City AM
Direct Line Group has seen 36.5% of shareholders vote against the directors' remuneration report after it was revealed that chief executive Adam Winslow was paid more than £7.8m for the firm's latest financial year
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Zopa Bank raises £80m in bond listing as it prepares for current account launch
By City AM
The lender, which will convert to an unlisted public company within six months of the transaction, is gearing up to launch current accounts
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CMA launches probe into Aviva's £3.7bn Direct Line takeover
By City AM
The CMA has begun its phase one inquiry to establish whether the deal would result in a 'realistic prospect of a substantial lessening of competition'
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