The City AM Live Blog

Good morning from the City AM liveblog team.

The UK’s top banks are gearing up for a third-quarter reporting season where all eyes will be on the Labour government’s second Autumn Budget.

Speculation of a bank tax hike has dominated chatter around the sector in recent months and elevated fears across the City.

It also comes alongside flaring tensions between the lending industry and City watchdog as the motor finance scandal kicks into a new gear forcing firms to up their provisions.

Benjamin Toms, equity analyst at RBC, said a lack of “positive catalysts” along with motor finance uncertainty and the forthcoming Budget meant analysts were “struggling to get excited”.

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