Senior Reporter @CityAM đ§ [email protected] / Yorkshireman in London / @The_JDF alum
London, England
Joined December 2015
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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
Exc: A crunch decision awaits Andy Burnham as he walks into Downing Street.
The new gov will be tasked with making JP Morgan's business rates discount official for its new ÂŁ10bn Canary Wharf HQ - should they be up for it.
Full story @CityAM
cityam.com/andy-burnham-set-âŠ
Rotherham mentioned đ„ đ„ đ„
Samuel Norman retweeted
Exclusive
Labour is set to reject Reform UKâs offer to cover the cost of the upcoming Clacton by-election, @cityam understands.
Reform said they would foot the bill for the vote.
A government source has said they will snub the offer as it would break rules on donations.
NEW: The FCA has suspended parts of its under-fire motor finance redress scheme ahead of legal challenges at the Upper Tribunal.
The watchdog is facing four challenges to its ÂŁ9bn scheme.
Full story —ïž
cityam.com/city-watchdog-susâŠ
Samuel Norman retweeted
Top story from @samnormanwrites
The government intervened on 24 proposed takeover bids from foreign buyers between the first quarter of 2025 and the end of the first quarter of 2026 on national security grounds.
10 deals related to defence
cityam.com/government-intervâŠ
Samuel Norman retweeted
EXC: Burnham's allies have gone quiet over a VAT cut for pubs, despite confirming he would slash business rates by 20%
Burnham prev backed VAT cuts, which landlords claim would be âincredibly importantâ pubs
w/@MauricioFCA_
cityam.com/burnham-camp-goesâŠ
