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Banking & Finance

Funding deal for software firm Nimbus
West Midlands
Loan will be used to develop its mapping technology and hire five new staff
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Rachel Reeves urged to 'copy Margaret Thatcher' with bank tax
By City AM
A 2.5 per cent tax on banks with assets of more than £100bn could raise £8bn for the Treasury
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Principality expands access to cash reach in partnership with OneBanX
Finance
Principality expands access to cash reach in partnership with OneBanX
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£100m NatWest funding deal for housing provider
West Midlands
Midland Heart has secured fresh injection of capital which it will use to upgrade stock and building new homes
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Thousands of pensioners claim back more than 10k after being overcharged
By City AM
It comes as HMRC has vowed to overhaul the way it collects tax on pension withdrawals from April this year
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Swansea Building Society strike new rugby sponsorship deal
Swansea Bay City Region
It has renewed its tie up with Swansea RFC for another season
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Standard Chartered shares rally after US government rejects whistleblower claims
By City AM
The US government has rejected whistleblower claims against Standard Chartered that had drawn the attention of president Donald Trump
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Monzo leads with competitive rates for young savers as º£½ÇÊÓƵ banks vie for Gen Alpha market
By City AM
Monzo has made a major play to secure the next generation of savers as banking giants look to secure a grip on the Gen Alpha market.
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Rachel Reeves HMRC shake-up will see agency ramp up pension tax relief scrutiny
By City AM
HMRC will be 'lowering the threshold' from 1 September for requiring evidence to support pension tax relief requests
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º£½ÇÊÓƵ banks close thousands of branches as customers go digital
By City AM
Banks in the º£½ÇÊÓƵ have been closing many of their branches, as customers are choosing to bank on their smartphones instead of in person
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Blackrock advocates for increased hedge fund investments amid market volatility
By City AM
The global asset manager argued that hedge funds have the ability to withstand the increased volatility affecting the market, granting greater opportunities for institutional investors
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Moneybox's 2024 profits soar as billions flood into the fintech firm
By City AM
The investment platform's net inflows more than trebled to £5.8bn, from £1.7bn the year prior – a jump of over 241 per cent.
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Rachel Reeves plans to slash tax-free pensions lump sum in clampdown
By City AM
Chancellor believes º£½ÇÊÓƵ economy is worth 50bn less than previously thought
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Development Bank of Wales with added firepower to help firms decarbonise
Deals
Its Green Business Loan Scheme funding has been increased by the Welsh Government to £20m
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Starling Bank acquires º£½ÇÊÓƵ fintech Ember to enhance small business services
Banking & Finance
The London-based firm said as part of the takeover, Ember's tax and bookkeeping software will be built into Starling's app and online bank.
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People are missing out on £37,000 because they're too scared to invest in stocks
By City AM
The Moneybox financial confidence index found that savers are becoming increasingly risk-averse, with just 11 per cent of individuals opting to transfer their money from savings to active investments.
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Close Brothers shares downgraded despite Supreme Court victory in motor finance case
By City AM
The FTSE 250-listed bank's stock rating was lowered to 'Sector Perform', down from previous 'Outperform' expectations
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Monzo to follow Klarna and Revolut with launch of mobile service
By City AM
The London-based firm is looking to offer a Monzo-branded service to its over 12 million in account holders.
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Banks watchdog faces shake-up amid Treasury 'fundamental' changes
By City AM
The Financial Ombudsman Service (FOS) is seeking to reassert its authority amid a raft of obstacles and a government review which could fundamentally change its regulatory status
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Standard Chartered shares struggle to rebound after $3bn sell-off triggered by US lawmaker
By City AM
The bank's stock nudged up by one percent as markets opened, reaching 1,319.50. But, this remained far below the 1,407 price point prior to the sell-off on Friday, when shares tumbled by as much as nine percent.
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CFO salaries surge as job roles become more and more intense
By City AM
Nearly 80 per cent of finance chiefs received a rise in compensation in 2024, according to exclusive research
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British Business Bank ramps up lending to Welsh firms
Deals
In its 2024/25 financial year it provided funding to 900 Welsh firms for the first time
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Klarna's losses widen as CEO says 'unlikely' people can't pay back loans
By City AM
BNPL giant Klarna reported a $53m post-tax loss for the three months ending June, up from $18m a year ago
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Principality Building Society strengthens its senior management team
Appointments
It includes the appointment of a chief technology office
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