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Banking & Finance

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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Aviva profits soar ahead of Direct Line merger after CMA gives takeover green light
By City AM
The insurance giant said its operating profit jumped 22 per cent to just over £1bn in the six months to June 30, up from £875m a year earlier
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Zilch boosts loss provisions as customer numbers soar in 'record year' for º£½ÇÊÓƵ fintech
By City AM
The fintech last month said it had booked its first quarterly profit and surpassed a revenue run rate of £100m
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London's capital markets are in the doldrums - but at least there's crypto
By City AM
The latest monthly capital markets report by Investec shows total equity raised in the º£½ÇÊÓƵ stood at just £810m in July - down more than 40 per cent compared to the same month last year
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Beazley reports profit decline amid rising catastrophe losses and falling insurance rates
By City AM
The specialist insurer reported a profit before tax of $502.5m for the six months ending 30 June 2025, down from the $728.9m reported in the first half of 2024.
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The latest acquisitions and equity deals in Welsh business
Banking & Finance
Here we feature the latest business acquisition deals in Wales.
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S&U shares spike as lender says 'resurgence in profitability' has arrived
By City AM
S&U shares have jumped after the lender said its "resurgence in profitability" has arrived, with the stock up over three per cent in early trading on Tuesday
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º£½ÇÊÓƵ fintech investment dips despite Chancellor Rachel Reeves' efforts to boost sector
By City AM
The º£½ÇÊÓƵ fintech sector has been dealt another blow after investment slumped in the first half of the year
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Plus500 customer deposits more than double to record $3.1bn as wealthy investors pile in
By City AM
The London fintech said the average deposit held by an active customer stood at $17,250 by the end of the first half of the year, a jump of 105 per cent compared to 2024 in signs the company's strategy to attract higher value investors was paying off.
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