Senior Reporter @CityAM đ§ [email protected] / Yorkshireman in London / @The_JDF alum
London, England
Joined December 2015
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One banking source says thereâs âdisappointment given it doesnât signify particular support for the sectorâ.
Though they added some had gone into the day âthinking it could have been worseâ.
đ„JP Morgan not pulling punches in its response to today's bank tax hike.
Wall Street's biggest bank says the move "lacks principle" and singles out the sector.
Questions now turn to its plans for a ÂŁ3bn skyscraper in Canary Wharf.
More here: cityam.com/jp-morgan-slams-hâŠ
đ„JP Morgan not pulling punches in its response to today's bank tax hike.
Wall Street's biggest bank says the move "lacks principle" and singles out the sector.
Questions now turn to its plans for a ÂŁ3bn skyscraper in Canary Wharf.
More here: cityam.com/jp-morgan-slams-hâŠ
From the OBR report: The tax increase will raise ÂŁ1.5bn and take receipts in teh 2027-28 year to ÂŁ2.4bn.
BUT: The watchdog estimates ÂŁ200m could be driven overseas by the move, and warns the full impact is âuncertainâ.
đšNEW: John Healey has doubled the UK banking surcharge to 6% in one of the biggest cash raisers in his Budget.
It is estimated that each 1% increase on the surcharge raises a further ÂŁ400m each year. The increase will last 15 months.
Full story: cityam.com/barclays-and-lloyâŠ
đšNEW: John Healey has doubled the UK banking surcharge to 6% in one of the biggest cash raisers in his Budget.
It is estimated that each 1% increase on the surcharge raises a further ÂŁ400m each year. The increase will last 15 months.
Full story: cityam.com/barclays-and-lloyâŠ
He said: âI want to say directly to our banks, I celebrate and am grateful for the role you play."
âAmid global economic storms, I am looking to our banks to help fund breathing space for British families.â
NEW: I spent some time chatting with VCs that warn already capital-starved fintechs may feel the worst of bank tax raid.
"Don't kick the sector while it's down," one said citing news that UK fintech investment was at a decade-low.
cityam.com/higher-taxes-willâŠ
Exclusive: Badenoch follows Reeves with a Gutman-hosted summit.
Ample timing for the Tory leader to make her pitch following a Budget that may leave the City feeling bruised.
W/ the main man @MauricioFCA_
Goldman Sachs to host Badenoch for City charm offensive bit.ly/4yWqd6J
Samuel Norman retweeted
Read with @samnormanwrites on City sources reaction to banking tax reports coming from Bangkok
A surprise after Chancellor's 'jewel in the crown' comments
One figure tapping his ears and pretending not to hear noise
Healeyâs âmixed messagesâ on bank tax leave City blindsided bit.ly/4ip7oDq
Samuel Norman retweeted
Excl: The group behind the #asos hack have claimed responsibility for a data breach at Air France-KLM, the airline conglomerate.
Read in @CityAM cityam.com/asos-hackers-claiâŠ
Quite the tone shift in new letters from City chiefs on bank tax.
Clearly industry very worried about prospect of a bank tax after Healeyâs nothingburger of a meeting with bosses this week.
cityam.com/city-chiefs-warn-âŠ
đš BREAKING: Andy Burnham is set to signal the end of the state pension triple lock in his conference speech tomorrow
[@Telegraph]
Samuel Norman retweeted
Revolut recently confirmed a data breach.
Someone sent a fake government request from a legitimate-looking government email domain.
Revolut handed over the data.
what was exposed:
â full names, dates of birth, occupation
â postal addresses, email addresses, phone numbers
â copies of passports and driver's licences
â facial verification selfies taken at account opening
â account statements including IBANs
â full transaction histories. Bitcoin included.
Revolut has 80 million customers across 30 countries. they haven't disclosed how many were affected.
ZachXBT posted the customer notification on Telegram Friday night. his read: targeted at high-net-worth users.
Revolut said in its statement: "the request carried valid domain authentication credentials."
valid domain. real email infrastructure. fake request.
this also happened to Revolut before. in 2022 a phished employee credential exposed 50,000 customers.
this time: passports. selfies. transaction histories.
Samuel Norman retweeted
When the people slagging off the media for doing their job include Zack Polanski, Jolyon Maugham, Zara Sultana, Jeremy Corbyn, Hacked Off, Labour MPs who want Leveson 2, That Islamist with his lists of erring hacks, Zia Yusuf and Nigel Farage - and those slagged off include the Times, the Telegraph, the Mail and the Guardian - it is possible to conclude that the media is indeed doing its job properly
EXCL: Natwest banked a company allegedly used by the founder of collapsed property lender MFS to divert investorsâ cash and âsiphon offâ funds.
The connection could drag Natwest into the ongoing FCA investigation MFS.
Full story @CityAM —ïž
cityam.com/revealed-natwest-âŠ
NEW: Barclays is facing legal action from the administrators of MFS who are seeking to claw back the collapsed lender's cash.
We understand over ÂŁ160m belonging to MFS' main unit and silos was held by Barclays at the collapse.
More in @CityAM —ïž
cityam.com/barclays-accused-âŠ
The harder task would be finding a building that doesnât have a Greggs in it.
(But who would ever want that)
Spare a moment for Rachel Blake, who had near 60 days as City minister.
Got her name attached to a few HMT press releases and now itâs back to where we were two months ago with Lucy Rigby back in post.
Rigby is now the third and fifth City minister since Labour came to power.
ICYMI I wrote about this churn in my column a few weeks back.
Rigby was always viewed quite positively (âsun in her eyesâ) across the industry. Theyâll be hoping they can pick up lobbying talks where they left off two months ago.
cityam.com/the-square-mile-gâŠ
