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The Latest Breaking News from City

Labour’s challenge is complicated by the triumph of finance. That’s bad news for UK plc

To get the necessary investment, Labour must bring the financial sector onboard while diluting its often malign influence

The Guardian - UK

Starling Bank fined £29m for ‘shockingly lax’ financial crime controls

Challenger bank apologises after City regulator says lack of checks ‘left system wide open to criminals and those subject to sanctions’

The Guardian - UK

New Lord Mayor of the City of London pledges to promote growth and risk taking

Lord Mayor elect warns on competitive threat to the City as the world’s top financial hub if it does not rediscover its “national edge in innovation.”

Evening Standard

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read the most diverse news in one place.

How City high-flyers have helped to fuel UK wine-growing boom

Annual production more than doubles as office workers quit to snap up vineyards or blocks of land

The Guardian - UK

N.Y. Law Mandating That Delivery Services Share More Customer Data with Restaurants Violates First Amendment

From today's opinion by Judge Analisa Torres (S.D.N.Y.) in Doordash, Inc. v. City of New York: When a diner orders… The post N.Y. Law Mandating That Delivery Services Share More Customer Data with Restaurants Violates First Amendment appeared first on Reason.com.

Reason

Lack of City of London oversight hurting efforts to halt dirty money, FCA warns

Bodies responsible for monitoring accounting and legal sectors not doing enough to stop money laundering, watchdog says

The Guardian - UK

Former NYC Covid czar attended sex parties while shaping pandemic guidelines

‘The only way I could do this job for the city was if I had some way to blow off steam every now and then,’ Dr Jay Varma can be heard saying in one clip

The Independent UK

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Georgia A.G. Drops Frivolous Money Laundering Charges Against Cop City Bail Fund

The three defendants remain under indictment for racketeering, along with 58 others.

Reason

Fintech has transformed consumer finance; now Britain’s banks need to step up business banking

City Voices: London’s banks aren’t for the needs of modern business owners

Evening Standard

Man City Brace For Inter Reunion As Akanji Fears 'Tough' Schedule

Manchester City are braced for their Champions League reunion with Inter Milan at the start of an expanded tournament that will be "so tough" for the 2023 winners.

International Business Times

Financial leaders and party insiders warn Starmer: we need less gloom, more optimism

PM told his downbeat tone risks putting off investors and that his conference speech must temper realism with hope

The Guardian - UK

Malaga warns shirtless tourists to cover up amid overtourism row

Posters in the city also ask visitors to not be ‘conspicuous’ out in public

The Independent UK

Labour is losing the big investors it is desperate to court

City Comment: Time for a concession to optimism

Evening Standard

Lloyd's of London half-year profit up by £1 billion in boost for the City

London insurance marketplace’s exposure to Baltimore bridge disaster put at £500 million

Evening Standard

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The Guardian - UK

Banks warned over denying sex workers business accounts

FCA gives detailed guidance to lenders after hearing lack of access could lead to ‘significant harm’ for individuals

Evening Standard

London's pubs revival is in danger of unravelling

City comment: The margins of many hospitality businesses already thinner than a cigarette paper

The Guardian - UK

Thames Water asks to raise bills by £228 a year as regulators’ plan ‘not deliverable’ – as it happened

Live coverage of business, economics and financial markets as water company for southeast England says proposed cuts plan ‘is not tenable and renders our plan uninvestible’

The Guardian - UK

PwC fined £15m for failing to report suspected fraud at City firm

Fine is FCA’s first against an auditor and follows PwC being hit with £4.9m penalty over audit by another regulator

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Al Jazeera

English Premier League 2024-25: Match schedule, start times, teams, format

When does the Premier League start and who are the favourites? Who are the new player signings? Al Jazeera explains.

Reason

Limits on Carrying Objects in Marches Near Chicago Convention Aren't Unconstitutionally Vague

“[C]ourts do not use vagueness doctrine to establish a rule that government cannot regulate anything until it classifies everything.”

Evening Standard

Rate of inflation rises to 2.2% in July in first increase this year

Government statisticians say the rise was mainly caused by gas and electricity prices

The Guardian - UK

Interest rate cuts expected after US and UK inflation reports – as it happened

UK inflation has risen to 2.2%, less than feared, while US inflation dipped to 2.9% last month

Evening Standard

London phone thief who stole 24 mobiles in single morning jailed for two years

The phone thief dropped some of his haul when officers knocked him off his bike in the middle of a busy road in the City

Evening Standard

UK economy may have been boosted by the 'Taylor Swift effect' in June, say City forecasters

Series of sell-out concerts and the Euros gave a welcome boost to Britain’s otherwise lacklustre output

Wallpaper

At the heart of Sydney Metro’s expanded Central Station lies a spectacular new public space

The new extension to the Sydney Metro can now be accessed beneath McAslan and Woods Bagot’s monumental roof structure above the city’s historic Central Station

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