City AM
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Money market funds surge in popularity as investors grapple market volatility
Money market funds roared back to popularity last month, as investors continued to shun equities amid ongoing market uncertainty.
Virgin Media O2 defends arena deal as £200m price tag disputed
Virgin Media O2 has pushed back at claims it is paying around £200m to keep its name on the O2, as the heavily indebted telecoms group commits to another decade of one of Britain’s longest-running sponsorship deals.
Goldman-linked EY breach highlights new era of undetectable data theft
Sensitive corporate data can be stolen through everyday workplace software without setting off traditional cyber defences, Darktrace has warned, after a breach at the Big Four giant exposed information linked to Goldman Sachs and Man Group.
This Kaare Klint building is now Copenhagen’s coolest hotel
Hotel Petra opened its doors last June, timed to coincide with Copenhagen’s 3daysofdesign festival. For three days, this annual showcase transforms the capital into a temporary showroom, making the collaboration with Petra particularly fitting, given it’s a project from Danish design powerhouse &Tradition, which has been trading showrooms for guestrooms as it raises its ambitions from interior design pieces to entire hotels.
Saudi Arabia still open to sport investing, insists PIF, despite drastic cutbacks
Saudi Arabia remains keen to invest in sport despite scaling back funding for high-profile projects in golf, football and tennis, says the Public Investment Fund.
Royal Mail to cut thousands of jobs in sweeping overhaul
Royal Mail will cut as many as 2,500 jobs as part of a root-and-branch overhaul that the ailing postal service hopes will reduce its overheads at a time of dwindling usage and scrutiny over its delivery performance.
PwC chief: Junior hiring will ‘push back up’ despite AI fears
The chief executive of PwC UK said he expects the hiring of young people across the professional services sector to “push back up”, challenging the notion that AI is replacing junior work and slowing entry-level recruitment.
Shein UK revenue hits £2.5bn despite IPO woes
Shein took more than £2.5bn in revenue in the UK last year, as the fast fashion giant tightens its hold on British shoppers despite IPO woes.
The story of how Simpsons Tavern became Cloth Cornhill
City AM meets the men who transformed the much-loved Simpsons Tavern into the new Cloth Cornhill How much can you fiddle with the recipe of… a sausage? “We’re now on the ninth iteration,” sighs Ben Butterworth, founder of Cloth Cornhill. “We’ve been fine tuning the details. It’s still a very peppery, well-seasoned sausage, only more [...]
Billionaire Weston family buys Boots for $9bn
The billionaire Weston family has struck a deal to buy Boots for $8.9bn, scuppering hopes that the high street giant could return to the London Stock Exchange.
I helped found Shazam, now I write crime novels: Job hopping is a joy
Long gone are the days of life-long jobs and thank goodness – job-hopping is a joy, writes Shazam-investor-turned-play-director Ajay Chowdhury.
Are rolling stocks about to go off the rails?
Andy Burnham’s pricey plans for nationalisation and greater public control of services have thrust Thames Water, housebuilders and the care sector under the microscope. But while public attention has centred primarily on these British heavyweights, the process of bringing the UK’s passenger rail services back into state hands has chugged along quietly, leaving the question [...]
Arsenal can overtake Real Madrid and become biggest brand in world, say owners KSE
Arsenal’s owners believe they can become “the biggest brand in the world” after being stunned by the global celebrations which greeted their long-awaited Premier League triumph this year.
Lime pumps £1m into parking to tackle London e-bike clutter
Green bike conglomerate Lime is pumping nearly £1m into hundreds of new e-bike parking bays as it looks to tackle the pavement clutter that has accompanied London’s rental bike boom.
Former City traders’ fraud convictions overturned
The Court of Appeal has overturned the fraud convictions of five former City traders who were previously hit with Libor and Euribor-related offences.
Rathbones secures Irish licence as it eyes Europe expansion
Rathbones has secured a financial licence allowing it to begin operating in Ireland and the EU, as the wealth manager looks to extend its reach across Europe.
Mike Ashley’s Frasers builds stakes in Burberry, Under Armour
Frasers Group, the retail empire founded by Mike Ashley, has taken a stake in athleisure giant Under Armour and built up its holding in fashion house Burberry.
Musk turns to rival Anthropic to power Grok
Elon Musk has opted to buy competing technology as he is set to use rival Anthropic’s AI models to power parts of Grok, despite spending heavily to build his own AI challenger.
Badenoch vows to end inheritance tax on family homes
Badenoch said the Conservatives would restore “common sense” as political leaders were entering a “battle for the soul of this nation”.
One year to T+1: How should firms get ready for October 2027?
With just a year to go before the final T+1 deadline, Andrew Douglas lays out what UK firms must accomplish to smoothly transition.
HSBC set to axe UK wealth jobs as AI takes hold
HSBC is putting a raft of roles in its UK wealth division on the chopping block following a push to slash costs with artificial intelligence.
Land surrounding West Ham United’s London Stadium touted for development
Land surrounding West Ham United’s London Stadium could be developed after architects were appointed to lead a consultation over the future use of the site in Stratford.
Healey warned: Don’t ‘penalise investors’ with capital gains hike
A leading investment platform is urging chancellor John Healey to not “penalise investors” at the upcoming Budget, as Brits brace for potential tax hikes.
India pledges 2036 Olympics would transform country and inspire millions
India has laid out its vision for hosting the 2036 Olympics in Ahmedabad, promising the first Games on the subcontinent would “inspire millions” to play sport and transform “every part of our society”.
Hollywood Bowl calls on dynamic pricing as heatwaves hit sales
Hollywood Bowl called on its dynamic pricing system to endure falling ten-pin demand during the summer’s record heatwaves, prompting a share price boost.
UK ‘uninvestable’ if North Sea projects are blocked
The UK will be uninvestable in the eyes of most energy companies if the government blocks the Jackdaw and Rosebank oilfields in the North Sea, the boss of Norway’s state-run oil and gas firm has warned.
Former Whitbread bosses buy back Beefeater restaurants
Former senior managers at Whitbread have led a deal to buy back nearly 60 restaurants from the group, after it wound up its Beefeater and Brewers Fayre chains last month.
Jaguar bet its history on the Type 01, and it’ll pay off
Jaguar finally showed the production Type 01 in New York last night, nearly two years after a rebrand that made it a national punchline. We think the car is a stunner, and the business case behind it is stronger than the critics allow. There are car launches, and then there are launches where an entire [...]
Volkswagen takes £725m hit from motor finance scandal
The finance arm of Volkswagen has taken a mammoth hit from the motor finance scandal plunging it to a loss for the year.
Shell eyes profit windfall from surging fuel prices
Shell is poised to reap major gains from its refining operations after the global surge in fuel prices dramatically ramped up the group’s profit margins.
House prices fall faster in London as market stays ‘subdued’
House prices in London fell at a faster rate last month, as homeowners in the capital continue to bear the brunt of the property market slowdown caused by the Iran war.
Exclusive: City Football Group official’s Labour trip made ‘in personal capacity’
A senior City Football Group official who attended the Labour party conference days after Manchester City were found guilty of over 100 Premier League charges has told City AM he was there in a personal capacity.
FTSE 100 Live: Stocks slide as Strait of Hormuz comes under fire
Welcome back to City AM‘s FTSE 100 liveblog. Oil is treading this morning as tensions in the Middle East offset a rise in supply. Brent crude – the international benchmark for oil prices – tipped over $101 per barrel on Wednesday morning following intensified attacks on tankers in the Strait of Hormuz in recent days. The UK Maritime Trade Operations has recorded nine incidents so far this month.
The Lakes Distillery: Profit slumps at Nyetimber’s whisky brand
Nyetimber, the English sparkling wine producer, paid £71m to acquire The Lakes Distillery in 2024 as part of its goal to create a UK-based luxury drinks brand. But just two years on, and it’s starting to look as if Nyetimber, led by CEO Eric Heerema, may be suffering buyer’s remorse.
Watch collecting and the search for the white whale
In the world of watch collecting, time does not stand still. That’s the joy of it: you never know what might be the prize of tomorrow, says Andy Blackmore
Three years on from October 7, British Jews are asking: Are we safe here?
Three years on from the October 7 massacre, Benjamin Bell writes how life has changed for him as a Jewish Londoner.
City watchdog accused of hiding information in motor finance row
The City watchdog is coming under pressure to release its communications with the Treasury and modelling data for its controversial motor finance redress scheme, City AM can reveal. The Financial Conduct Authority (FCA) is facing legal challenges from the finance arms of Volkswagen and Mercedes Benz as well as French-owned CA Auto Finance over its [...]
Nottingham Forest facing backlash as City Ground expansion set to hit residents in pocket
Nottingham Forest are facing a backlash from local residents who could be left out of pocket by the club’s £790m expansion of the City Ground. As part of the planning permission granted to increase the capacity of their 31,000-seater stadium to 52,000, Forest have agreed to contribute £4.17m towards improving surrounding travel and transport infrastructure. [...]
The case against devolution? Wales’ declining education system
Devolution is great when it works. But where are the sanctions for poor outcomes like Wales' appalling education results, asks Paul Ormerod.
The Debate: Should London offices reduce bike parking?
Provisions for office cycle parking could be reduced under new London plans. But is throwing out bike racks too hasty?
Sainsbury’s merger talks mark end of supermarket big four
It is approaching a decade since Mike Coupe, then Sainsbury’s boss, was caught on a hot mic singing “we’re in the money” as his supermarket announced its impending takeover of rival grocer Asda. He was forced to apologise for the outburst, which was caught on camera while he waited to be interviewed by ITV News. “This [...]
Stages of tax grief: Is it time for bankers to bargain?
Banks are in the firing line at the Budget and in a meeting with bosses on Tuesday chancellor John Healey played coy on any increased rates. In this week’s column Samuel Norman looks at what trade-off could be made. Also on the cards, fresh data shows fintechs are lurching ahead of the incumbents on customer [...]
Emerging markets buck investor woes as equity funds shunned
Investors once more cut their exposure to equities in favour of bonds and fixed income holdings, but emerging markets defied the trend.
Badenoch says next election is ‘battle for the soul of this nation’
Kemi Badenoch will argue that the next election will be the biggest “battle for the soul of this nation”t seen in at least half a century as Tory officials gear up for the prospect of an early election.
UK AI health rules could give firms ‘competitive edge’ as ministers back overhaul
Experts have said Britain’s new approach to regulating AI in healthcare could give UK tech firms a “competitive edge” by letting them prove their technology in the NHS earlier. The UK government on Tuesday accepted all 44 recommendations of the National Commission into the Regulation of AI in Healthcare, paving the way for a shake-up [...]
KPMG Australia seeks $100m bailout from parent group after scandal
KPMG Australia is reportedly considering asking for $100m (£52.6m) in emergency loans from the Big Four firm’s global network after a scandal rocked the firm’s reputation and business down under.
The Discount Suit Company is a cocktail bar like no other
As we count down the days until the Toast the City Awards, we’re visiting some of our favourite finalists – this week Libby Brodie discovers the subterranean wonders of the Discount Suit Company cocktail bar
Badenoch to offer tax cuts as Tories pitch ‘credible alternative’ to Labour
Expectations are growing that Kemi Badenoch will announce “multiple” tax cuts in her flagship speech at the Conservative Party conference, with announcements on national insurance and inheritance tax set to take centre stage.
Post Office former senior lawyer slammed over remote Tribunal request
The Post Office’s former general counsel is “putting her own convenience” first by filing an application to appear remotely from Australia for a Tribunal hearing over alleged misconduct during the Horizon IT Scandal, the legal regulator counsel said.
Meta court battle will not delay Instagram probe, Ofcom says
Meta’s legal challenge against Ofcom has not delayed the regulator’s separate investigation into Instagram, Ofcom has told City AM.The watchdog said the ongoing English High Court proceedings had “not impacted the timing” of its decision to investigate whether Meta broke UK online safety rules when it launched Instagram Instants.The comments come as Meta, TikTok and [...]
Take the Rising Mountain Road to Ces glory
THERE are two days of high-class racing from Newmarket to look forward to this week, with Future Champions Festival beginning on Friday.The feature on day one is the Group One Fillies’ Mile (2.57pm), where unbeaten Godolphin filly Musical Times is likely to go off a very short price and take plenty of beating.Saturday’s card appeals [...]
No reason to mask Annaf’s chance on the Knavesmire
AWAY from the action at HQ, there’s a typically competitive card at York alongside the first Premier Saturday meeting over the sticks at Chepstow.Looking at the racing on the Knavesmire, the most competitive race of the day is the Sky Bet Sprint Trophy Handicap (3.17pm).Specialist sprint trainer Mick Appleby has a strong hand here with [...]
LIV Golf secures funding and looks to Trump for help relaunching bankrupt competition
LIV Golf chiefs are hoping for help from US President Donald Trump as they look to relaunch the league without the backing of Saudi Arabia’s Public Investment Fund.
Huge £45m bill for Peckham Rye station lifts branded ‘scandalous’
The huge £45m bill to give Peckham Rye station step-free access – which is backed by a top Cabinet minister – involves forcing builders to use handheld tools to carve bricks and demolishing an art centre in order to complete the works, City AM has found. On Tuesday, energy secretary Miatta Fahnbulleh launched a petition [...]
Reeves beats Kwarteng to ‘worst chancellor’ in new ranking
Just months after her exit from Number 11, Rachel Reeves has been given the dubious honour of being voted “worst chancellor”, in a new survey.
Gillian Anderson is magnetic in Who’s Afraid of Virginia Woolf?
Edward Albee’s Who’s Afraid of Virginia Woolf? is one of those plays that only seems to come around every decade or so – and when it does you wonder where it’s been all this time. It’s lost none of its caustic charm over the six decades since it was first performed, its depiction of married life as bleak and devastating as ever.
City watchdog launches probe after whistleblower’s death raises questions
The Financial Conduct Authority (FCA) has launched a probe into how the regulatory body interacted with a whistleblower who recently took his own life.
IMF: Governments should spend more to tackle cost of living
Governments across the world should prioritise targeted welfare support for low income households over broader measures like tax cuts to ease the cost of living, the International Monetary Fund has said.
‘Rogue’ OpenAI agents blamed for Wikipedia outage as safety concerns mount
“Rogue” OpenAI agents have been blamed for helping knock a Wikipedia service offline, the latest in a string of incidents involving the ChatGPT maker’s increasingly autonomous technology. The Wikimedia Foundation said agents it believes were operated by OpenAI flooded its platforms with millions of automated requests, crawled millions of pages and made hundreds of thousands [...]
3 shifts defining the future of private credit
Why the next phase of direct lending will reward discipline over scale. Private credit has enjoyed a remarkable run. Once a niche corner of finance, the asset class has expanded into a mainstream source of funding for private equity-backed businesses. But as the market matures, the rules are changing. Rapid growth has brought greater scrutiny, [...]
Bids for 2036 Olympic Games due by end of the month
Aspiring hosts of the 2036 Olympic Games will have until the end of the month to declare their interest in staging the multi-sport event.
UK fintech Wise in tie-up with Oaknorth as it beefs up infrastructure division
UK fintech Wise is set to reveal a partnership with small business lender Oaknorth as the group looks to make its infrastructure arm a driving force.
Premier League gets US broadcast bounce after World Cup
The Premier League has received a US-shaped broadcast bounce with the World Cup inspiring Stateside viewership of the English top flight.
The era of ‘easy money’ is over, warns Carmignac boss
Star stockpicker Edouard Carmignac has urged investors to stop buying into passive funds as rising interest rates signal the end of ‘easy money’.The veteran fund manager, who co-founded asset management house Carmignac in 1989, warned investors that staying in passive funds risks exposure to struggling, debt-heavy companies.Rising interest rates force passive funds, which typically track [...]
‘Hard to imagine’ no price hikes after Paramount Warner Bros mega merger
Streaming customers are likely to face further price rises after Paramount and Warner Bros Discovery complete their $111bn (£82bn) merger on Tuesday, analysts have warned.
Asos shares crater after ‘hackers’ threaten data leak
Asos shares have tumbled after customers were told the online fashion seller’s systems had been “fully compromised” by hackers.
Could an exit from Europe bolster Tesco’s UK dominance?
Like a student nearing the end of their gap year, Tesco has careened across Europe, Asia, even the United States, and is now preparing to return home and settle down. The supermarket chain, the UK’s largest, is weighing up whether to offload its operations in Hungary, the Czech Republic and Slovakia, with grocery rival Lidl [...]
A Dram with Paddy Fletcher
Instead of erecting yet another Highland whisky ’shed’, Paddy Fletcher and Ian Stirling hit the scene with their dramatic, vertical Port of Leith distillery in 2023. This restless pair have also embraced gin, Scotch RTDs and launched a new whisky bar as Ian Fraser discovers … Despite developing an early taste for Tè Bheag, the [...]
Cut stamp duty to reap £4bn windfall, Healey urged
One of Britain’s biggest housebuilders has urged John Healey to slash stamp duty on newly built homes, in a move which it says would hand the Treasury a £4.2bn windfall.
Informa snaps up Clarion Events in £2.3bn deal with Blackstone
Digital services giant Informa has snapped up the world’s largest privately owned event and exhibition organiser in a multi-billion pound deal with private equity firm Blackstone.
Gallet takes flight: The inside story of Breitling’s sibling
O n 17 December 1903, one of the most significant stretches of time in human history was measured near Kitty Hawk, North Carolina. That time was 12 seconds – the length for the first flight of a powered aircraft, the Wright Flyer. Most of us know at least some of that story, but what fewer know [...]
FTSE 100 Live: Stocks to rise as oil at $100 after exports up
Welcome back to City AM‘s FTSE 100 liveblog. The oil market is getting some relief as crude exports recover but the price of a barrel is stubbornly holding over the $100 mark. Brent crude – the international benchmark for oil prices – traded near $100 per barrel on Tuesday morning after declining in the previous session. It comes as JP Morgan projected that crude shipments have rebounded to 17.5m barrels a day – at around 98 per cent of pre-war levels, while product flows such as diesel and gasoline reached 3m barrels a day, or 58 per cent.
Inside the Donkervoort, a Dutch super car like no other
The Donkervoort P24 RS is simultaneously one of the fastest and slowest cars I have ever driven. The flyweight 600hp roadster can rocket to 60mph in circa. 2.5 seconds and pull 2.4G in the corners. And yet… every time you stop for fuel or a flat white, you need to factor in time for chatting [...]
If black labradors are a far right fantasy, I guess I’m a fascist
That labradors aren't a sign of fascism feels self-explanatory, yet Labour blathers on, writes James Ford's hand in today's Notebook.
UK firms axe PR and consulting spend as AI tools muscle in
British businesses are shelving spending on public relations and consultancy firms as they embrace the capabilities of PR tools, according to City AM’s latest Business Spend Pulse.
The Conservative Party is losing voters on legacy, not leadership
On the reasons to not vote Conservative, very few blame Kemi. Instead, legacy, and earning back trust, remains the Tories' biggest obstacle.
Since SpaceX’s debut, hopes of a blockbuster IPO season have ground to a halt
It was hoped SpaceX’s blockbuster June flotation would add rocket boosters to the global IPO market. But four months on, momentum has come crashing back down to earth. Wall Street IPOs have slowed considerably since Elon Musk’s $75bn (£56.7bn) listing, damaging what was once expected to be a quarter chock-full of floats. Smart-ring maker Oura [...]
Tories say £10bn ‘Britannia Shield’ would fend off missiles
Kemi Badenoch has said a “Britannia shield” worth £10bn would fend off missile attacks from hostile countries as the party expanded its defence policy on Tuesday.
Top Tory pleads with young people to stay in Britain
Shadow chancellor Andrew Griffith has urged young people to stay in Britain and support the Conservatives as he highlighted the Tory pitch to young people amid a row over the party’s commitment to keeping the triple lock pension.
How Talktalk went from taking on BT to being rescued by it
TalkTalk was founded to take on BT, slash the price of broadband and shake up a market dominated by a handful of incumbents. But more than two decades later, the challenger has ended up in the arms of the company it was built to challenge. BT stepped in on Monday to buy Talktalk and its [...]
London Film Festival: everything you need to know
New blockbusters will be premiered for the first time ever in London later this month, when the London Film Festival returns to the capital. Expect red carpets and some of the world’s most famous faces on the Southbank, as Gala screenings of some of the biggest film releases of 2026 attract international attention. Hundreds of [...]
NHS may not be able to replace Palantir before £330m deal deadline
The NHS may not be able to replace Palantir before a crunch deadline on its £330m data contract, raising the stakes for ministers as pressure mounts to cut ties with the US tech giant.
Monument boss: Wealthy Brits in ‘fear’ ahead of punishing Budget
Wealthy Brits are in a state of “fear” ahead of the forthcoming Budget, according to a London bank chief, as economic turmoil and speculation of more punishing tax raids ramp up.
Crystal Palace valued at £900m and hire Raine Group to explore investment or sale
Crystal Palace’s owners have valued the club at £900m and hired the Raine Group to field interest in investment or a possible sale, multiple sources have told City AM.
Scrapping jury trials for fraud and financial cases brings ‘serious concerns’
Government plans to push ahead with jury-free trials for certain fraud and financial proceedings raise “serious concerns”, according to the Institute for Government (IFG) and lawyers across the City. The proposal, introduced by former justice secretary David Lammy officially last December, following a recommendation in a review of the court system in England and Wales [...]
Jeremy Clarkson slams Labour’s inheritance taxes on farms
Jeremy Clarkson hit out at the Labour government over its decision in 2024 to impose higher inheritance taxes on farming land two days before Tory leader Kemi Badenoch is expected to call for a cut.
UK bank bosses and John Healey set for tax showdown
When banking lobbyists geared up for an offensive ahead of the 2025 Budget, a tax cut barely made the wishlist. Modest in their ambitions, advocates were preparing to settle for anything that didn’t see their already eye-wateringly high tax bill rise. That is until, City AM understands, officials advised them to make a cut a [...]
Sainsbury’s and Morrisons held talks over blockbuster merger
Sainsbury’s walked away from talks over a merger with smaller rival Morrisons earlier this year, shelving what would have been the biggest shake-up of the UK’s grocery market in decades.
Average five-year fixed mortgage rate surges past six per cent
The average five-year fixed mortgage rate has broken the six per cent mark for the first time in three years after a fresh raft of lenders hiked prices.
Shock boardroom shake-up as Sunderland chief exits
Sunderland have parted company with interim chief executive Tom Burwell in a shock move after just five months as the Black Cats’ top man.
The search for Nigel Farage’s elusive wristwatch
We investigate the mystery of Nigel Farage’s wristwatch. Could the so-called man of the people really wear a £40,000 Patek Philippe Calatrava? Andy Blackmore starts digging and finds a surprising answer… Sometimes the watch we wear tells more about us than we would care to admit, far more than any session with a psychologist. With that [...]
Office cycle racks face the chop as workers opt for e-bikes
City developers have hailed the Mayor of London’s plans to water down the amount of bike rack space new offices need to provide, arguing that the shift to e-bikes makes these requirements redundant. The London Property Alliance (LPA), which represents hundreds of developers in the City and central London, has welcomed proposals to cut down [...]
Power cut leaves City offices in the dark
Central London has been hit by a major power cut that is stretching across dozens of postcodes and left swathes of the City in darkness.
Britain loses over half its billionaire wealth in two years
Britain has shed more than half its billionaire wealth in the past two years, fresh research has shown, reviving fears over the scale of the UK’s wealth exodus just days after it emerged that one of the country’s richest men has moved to Monaco. According to an analysis of the Bloomberg Billionaires Index, super-rich UK [...]
New Aston Martin DBX GT brings added luxury to V8-powered SUV
The Aston Martin DBX has gained a new derivative, with the GT version focused squarely on enhanced comfort and refinement. Although Aston Martin’s luxury SUV was hardly a pared-back vehicle to start with, the DBX GT is designed to showcase the levels of craftsmanship offered by the British marque. The new GT acts as a [...]
London Broncos owner: We can replicate Wakefield in Super League
On Saturday, Wakefield Trinity won a Super League title for the first time since 1968, completing a fairytale return to glory following a takeover by local businessman Matt Ellis just three years ago. Their route to Old Trafford began in the Championship and concluded at the weekend in front of 74,000 fans.
New car smell: Taking the fragrant new Omoda 7 for a spin
Can you bottle that new car smell? Adam Hay-Nicholls goes on a scent tour of the Cotswolds in the new Omoda 7 hybrid electric vehicle Could you bottle that ‘new car smell’, you’d be on to a winner. That’s the bracing odour of a bold financial decision. That odour is a cocktail of volatile organic [...]
OpenAI safety chief quits with warning on ‘broken’ culture
A senior OpenAI safety figure has become the latest AI insider to sound the alarm over the technology, quitting the ChatGPT maker over what he called its “broken” culture.
UK services sector marks two years of job losses
The UK’s dominant services sector has suffered two years of continuous job losses despite moderate growth against the backdrop of intense trading disruption and high borrowing costs, new data has indicated.
Virgin Media takes aim at ‘stitch up’ BT rescue of Talktalk
Virgin Media has hit out at BT’s rescue of Talktalk as a “stitch up”, warning the deal could further strengthen its rival’s grip on Britain’s broadband market.
Gary Neville ups ante in media battle with Gary Lineker with launch of Overlap Daily
Gary Neville is increasing the frequency of The Overlap’s football talk shows to daily in the latest move in his battle for eyeballs with fellow player-turned-media mogul Gary Lineker.
Raising bank taxes will reduce jobs, Hunt warns Healey
Former Chancellor Jeremy Hunt has issued John Healey a major warning over any increase to the level of taxes paid by UK banks ahead of the forthcoming Budget.
Jonathan Reynolds weighs Chinese EV tariffs after sales soar
Jonathan Reynolds is reportedly weighing up whether to impose tariffs on Chinese EVs as the business secretary grapples with a surge in imports.
Lidl doubles down on loyalty pricing despite Aldi attacks
Lidl grew its profit and revenue last year after pulling in an additional 43m shopping trips, as the discount grocer doubled down on its loyalty price scheme.
BT inks deal to rescue embattled Talktalk
Broadband giant BT has snapped up embattled telecommunications firm Talktalk in a move that prevents the collapse of infrastructure hosting some 2.5m customers.
FTSE 100 Live: Stocks jittery after bond rout; Oil over $100
Welcome back to the City AM liveblog. Markets are hoping to claw back some of last week’s losses to kick off the week after a global bond rout set ripples through the world’s top exchanges. Fears of an inflationary shock on the back of rising oil and diesel saw bond yields across the world’s economies spike. This morning, Brent crude – the international benchmark for oil prices – has given up some modest gains but is holding firm over the $100 mark.
Jousting, goblins and furries: Dispatch from a UK renaissance faire
Renaissance fairs are booming in America, now they're on UK soil too. Anna Moloney dons a doublet and investigates.
Employers play a bigger role in pensions than imagined
Every link in the pension chain – from trustees to consultants to employers – has a part to play, writes Lady Mayor Susan Langley For many UK savers, their pension pot will become their single largest asset, bigger than their home. Yet too often the industry loses savers from the conversation entirely between the moment [...]
Startup success is rare enough in the UK without any more taxes
If our rare successes are taxed further, more of our spinouts will end up sold early to foreign buyers and we risk losing their IP, writes Dr Ben Miles
Beware the politician who promises he is different
Andy Burnham has battered home that he is different, an outsider, but distinction comes from actions, not 'honest conversations'.
Healey’s headroom ‘could wiped out by Iran war’
Chancellor John Healey’s fiscal headroom could be entirely wiped out by the impact of the war in Iran as economists said the Office for Budget Responsibility could offer a more pessimistic view on the UK economy.
Griffith pledges ‘most ambitious deregulation project’ in generation
The Conservatives’ pick for chancellor has pledged to roll out the “most ambitious deregulation project in a generation” as he is set to say plans could cut £50,000 off the price of a new home. Andrew Griffith, the shadow chancellor, will say on Monday say he will slash red tape for businesses across construction, supermarkets [...]
Badenoch says triple lock pension is ‘right policy’
Badenoch said the triple lock, which is widely condemned as “unsustainable”, ensured pensioners who had “contributed” were properly rewarded.
Britain’s second richest person leaves for Monaco amid tax bite
Britain’s second richest person has left Britain for Monaco where billionaires can avoid paying income tax, inheritance tax or capital gains tax, according to reports.
Wetherspoon boss blasts ‘barmy’ vertical drinking crackdown
JD Wetherspoon boss Sir Tim Martin has blasted Westminster Council’s “barmy” curbs on vertical drinking, which he said are “inhibiting business”. Martin, the chairman of Britain’s best-known pub chain, has waded into a row over the Council’s restrictions on so-called “vertical drinking” in Soho and an effective ban on new pubs and bars in the [...]
The BBC’s bulletin cuts show how crowded sports broadcasting has become
The BBC’s decision to drop lunchtime and overnight sports bulletins from its news channel has rightly had a few journalists loosening their collars. Savings must be found, but will people miss the content? It really reflects how crowded the race for sports audiences has become. Broadcasters used to be the thoroughbreds, with competitors left in their dust, but the gates have opened and half the runners no longer need a television commission.
Kemi Badenoch vows to end Jeremy Hunt’s £100k childcare cliff edge
Kemi Badenoch will announce that the childcare cliff edge will be scrapped at a cost of about £700m per year.
Costa Coffee hails ‘strong progress’ after scrapped sale
Costa Coffee has hailed a year of “strong progress” after owner Coca-Cola scrapped plans to sell it, with the coffee chain saying its refurbishment plan is paying off.
Is Soho nightlife really dead? We went partying to find out
“I’m trying to prove you can still have a great night out in Soho,” I say. “You can. But not a late one,” replies Lesley Lewis over a glass of white wine at her beloved pub the French House. “I’ve always loved Soho,” says the legendary proprietor, who has run the French House for 37 [...]
You’re sued and you know you are: New law puts onus on clubs to prevent player abuse
Professional sports teams, governing bodies and operators of stadiums and events could all face legal action if players receive abuse due to changes in the law this month, writes Charlotte Smith.
G7 agrees to release diesel reserves after crisis meeting
European countries have agreed to release a “massive amount” of diesel onto the global market, Donald Trump has said, after a feud erupted between the bloc and the US that had led the President to threaten to ban all American exports of the fuel. In a post on Truth Social, Trump said that Europe would [...]
Chinese car sales top 300,000 in Britain this year as European rivals lose ground
More than 300,000 Chinese cars have been sold in the UK so far this year, setting a fresh record as European rivals lose ground.
London is running out of development land for sport teams to build stadiums on
One of London’s greatest assets is its varied and wide-ranging sports scene; six Premier League football clubs, many further down the pyramid; iconic rugby, tennis and cricket grounds; indoor arenas as far as the eye can see. But with success comes a desire to expand and grow. Chelsea are actively assessing options for a new [...]
Arab nations rally behind Infantino, leaving Uefa isolated in bid to oust Fifa president
Fifa president Gianni Infantino has received a major boost to his hopes of re-election after the Union of Arab Football Associations (UAFA) gave him its firm backing. The move, announced by UAFA following a meeting of its directors this week, is significant as it further weakens the coalition of Europe, North America and the Caribbean, [...]
Legal 500 takes site down after negative review debacle
Legal 500 has been forced to take down its site after the firm mistakenly published negative reviews alongside its top lawyer rankings.
Manchester City facing further punishment from FA over Premier League charges
The Football Association has warned that it could take additional disciplinary action against Manchester City if the guilty verdicts in its Premier League case are upheld.
Nike: Shares fall, S&P 100 ejection and Mbappe out
Nike shares continued to fall this week after the sportswear giant warned of a decline in revenue over the coming year.
24 hours in Athens: How to plan the perfect trip
A day, or 24 hours, isn’t really enough to experience any city in the world, let alone Athens, one of the world’s most historic and diverse cities. That doesn’t mean you shouldn’t try. If you’ve only got 24 hours, a quick stopover between flights, or just want to get away for the weekend, you can [...]
Price pressures hit firms amid uncertain outlook and fears of interest rate hikes
Firms’ inflation expectations for the next 12 months rose higher, according to closely watched Bank of England survey, the results of which could pile pressure on policymakers to raise interest rates.
Gordon Ramsay restaurants top £100m as Bishopsgate ‘star performer’
Gordon Ramsay’s restaurant group took more than £100m in revenue in the UK last year, as the group named its five Bishopsgate sites its “star performer”.
National Audit Office launches review into Capita’s handling of civil service pension scheme
Capita has said the public spending watchdog has launched a review into its administration of the Civil Service Pension Scheme, after admitting its performance “remains below” the standards expected.
Awash With Whisk(e)y
Faltering demand, especially in the USA, has promoted concerns about oversupply and the prospect of another whisk(e)y loch. A number of Scotch distillers are slowing down production, but for Tom Bruce-Gardyne it feels like a bigger issue across the pond … “Every drop of liquid we distil, every barrel we choose to fill, every palate [...]
Aldi debt jumps by £100m as profit slips
Aldi took on more than £100m in net debt last year, as the discount grocer’s profit slipped despite its blockbuster expansion plans.
IG shares plunge as it slashes revenue forecast
IG’s shares plunged in early morning trading, after group revenue declined and it was forced to cut its annual revenue forecast.
Wetherspoon scathes Labour for ‘high street dereliction’
Pub chain Wetherspoon has hit out at the government for causing “high street dereliction” by hiking taxes, as the company’s profit slipped by a quarter.
Hit Point star Nick Blood tells us what he’d eat for his last meal
Hit Point star Nick Blood tells us what he’d eat for his last meal on earth, from his mum’s Sunday roast to his favourite taco restaurant
FTSE 100 Live: Stocks up as G7 approves emergency oil release
Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: Diesel crisis: UK minister holds emergency talks with US Energy Secretary Aldermore puts jobs at risk in retreat from invoice finance market Manchester City appointed new CFO just days before Premier League guilty verdict Global bond sell-off: Headache for Healey as gilt yields top six per cent
The UK’s Space Strategy is a map to the stars
The UK’s Space Strategy is a map to the starts published at a time when when geopolitical tensions on Earth are increasingly shaping the space sector at a global level, says Rachael O’Grady
Don’t celebrate the demise of the triple lock, higher taxes are coming
Andy Burnham’s tweak to the triple lock won’t save money, in fact a national social care service represents the biggest non-crisis expansion of the state in decades, says William Nixon Many commentators welcomed Prime Minister Burnham’s announcement that he will ‘abolish’ the triple lock in 2030. But bond markets had a different take. Yields on [...]
Cutting VAT won’t fix Britain’s energy bills
Andy Burnham’s answer to rising energy costs has been a VAT cut on domestic energy bills. But all this does is move money from one pocket to another, with the taxpayer covering the difference, says Alan Chang
The Bovensiepen Spider is a 430bhp BMW Z4 with Alpina DNA
A new company built by the family behind the original Alpina has turned the BMW Z4 into a 430bhp spider with styling from McLaren P1 designer Frank Stephenson. Only 99 will be built. If you remember the old Alpina, before BMW took over the name, you’ll probably have a good idea of what the Bovensiepen [...]
For Manchester City 2026, see Saracens 2019
For Manchester City 2026, see Saracens 2019. Cheating in sport is common on the pitch and it probably happens a lot more than we’d care to admit off it. But sometimes it is blatant and sometimes it is brazen.
Why the tie is making a comeback
Once viewed as stuffy and outdated, the tie is staging a comeback. adam bloodworth explores how the corporate staple is being reclaimed by musicians and London’s underground club scene For generations of men, the tie was something you wore without thinking. Slipping one on was simply part of your morning routine, as mundane as shaving [...]
Hay Fever review: Naturally, Richard E Grant is perfect for Coward
Of course, darling: Richard E Grant simply must play David Bliss, the blinkered, posho patriarch at the centre of Noel Coward’s drawing room comedy, Hay Fever. This is how I imagine the casting conversations went, anyway. Shockingly, E Grant – everyone’s favourite aristo-portrayer – has until now never starred in a Coward play, so here is his moment.
Kia EV4 GT review: electric hot hatchback is a sensible sort of fun
On 25 September 1978, John Peel played Teenage Kicks, the debut single from The Undertones, on his Radio 1 evening show. Two minutes and 28 seconds later, in a brazen breach of BBC protocol, he played the same song for a second time, telling listeners “it doesn’t get much better than this”. I recently had [...]
Diesel crisis: Energy secretary in crunch talks with US counterpart
Energy secretary Miatta Fahnbulleh is holding crunch talks with her American counterpart over Donald Trump’s threat to curb diesel exports to Europe.
Meet the winners of the Santander X UK Awards 2026
Santander’s flagship entrepreneurship competition, the Santander X UK Awards, gives university ventures, startups and SMEs the chance to pitch for a share of £150,000 in equity-free funding. Some 90 businesses were shortlisted across three categories this year, before being narrowed down to nine finalists. The judging panel included Baroness Nicky Morgan, Google’s Adam Khalifa and [...]
Aldermore puts jobs at risk in retreat from invoice finance market
Aldemore is weighing a round of layoffs as it consults on plans to scale back its invoice finance business ahead of a sale, City AM can reveal.
Inside the strange business of TV... for cats
On the internet, no one knows you’re a cat. But The Algorithm almost certainly knows if you’re a cat owner, and it will increasingly serve you content aimed at keeping your housebound feline entertained. Welcome to the YouTube phenomenon of Cat TV, a peculiar niche of video streaming whose primary audience (one has to assume) [...]
On this day: Concorde first breaks the sound barrier
On this day, the 1st October, in 1969, Concorde first showed off its real party trick - breaking the sound barrier, writes Eliot Wilson.
Accenture shares surge as consulting giant shrugs off AI fears
Shares in consulting giant Accenture surged on Thursday after the firm topped its own revenue targets and shrugged off the worst fears of an AI-induced slowdown.
Hundreds of investors hit Home REIT with High Court claims
Hundreds of current and former shareholders in Home REIT have launched High Court proceedings against the scandal-hit property firm in a bid for compensation, accusing it of misleading investors and negligently misrepresenting its operations as a company.
Mater1a chef Victor Garvey interviews Japanese actor Yoh Yoshida
Dine with Yoh Yoshida and Victor Garvey at MATER1A as they discuss Shakespeare, Japan and Michelin-starred cuisine—read the full conversation.
Ratcliffe’s INEOS calls on Labour to reopen North Sea drilling
The chemical group owned by billionaire Jim Ratcliffe has urged the government to reopen the North Sea for drilling as it lashes out at its latest energy cost scheme for businesses.
Blue on blue: Tory infighting erupts over triple lock pension petition
Infighting across Tory circles has broken out after the party published a petition claiming Labour had pledged to “cut” the state pension following its triple lock reforms.
Manchester City appointed new CFO just days before Premier League guilty verdict
Manchester City appointed a new chief financial officer, Claire Catlin, just days before it emerged they had been found guilty in the Premier League’s biggest ever disciplinary case, City AM has learned. Catlin joined the leadership of the club’s parent City Football Group from service station group Moto after being approved as an officer by [...]
FTSE 100 suffers worst single-day sell-off since May
The FTSE 100 has suffered its biggest single-day drop since May as European markets are hit by a continent-wide rout in the bond markets, which has pushed pushed western government borrowing costs to multi-decade highs.
Lloyds CMO: Uncertainty is the price of an interesting career
We dig into the memory bank of the City's great and good. Today, Suresh Balaji, chief marketing office at Lloyds, takes us through his career.
AI minister updates guidance after ‘don’t thank ChatGPT’ advice to civil servants
Britain’s AI minister has ordered changes to government guidance that urged civil servants to limit their use of AI, saying it failed to reflect ministers’ ambitions to ramp up adoption across Whitehall.
Everton owners The Friedkin Group part of £850m mega stadium redevelopment
Owners of Premier League club Everton, The Friedkin Group, are spending around £850m on a major new stadium that is set to host matches at the 2032 Euros. The Friedkin Group, who purchased Everton in 2024 from Farhad Moshiri, will pump around £500m into a new 60,000-capacity capital city stadium with additional funds for urban [...]
Investors fearful of UK policy blunders
Andy Burnham’s “costly” policy agenda and the resurgent threat of inflation are weighing on investors’ appetite for the UK, according to a closely-watched survey of top money managers, which also revealed waning hopes of a rebound in London’s IPO market this year.
Dispatch: Discos and despair at the Labour Party Conference
Labour conference parties, the Guinness revolution and the DWP response to the triple lock kibosh; catch up on the latest gossip in this week’s The Capitalist
Billionaire Weston family closes in on £7bn Boots takeover
The Canada arm of the billionaire family behind Primark is inching towards another deal, as it closes in on a £7bn takeover of Boots from its private equity owners.
MSG Sport to spin New York Knicks and Rangers into NYSE-listed firms
Directors at Madison Square Garden Sports Corp have approved plans to spin off the organisation’s New York Rangers and New York Knicks franchises into separate public firms.
James Cleverly: I will fight Labour’s anti-London ‘mansion tax’
London will be hit the hardest if Andy Burnham lowers the threshold for the ‘mansion tax’ to £1.5m – which only gets you a flat or an ordinary terraced house in many parts of the capital, says James Cleverly
Global bond sell-off: Headache for Healey as gilt yields top six per cent
The yield that the UK government pays on its 30-year government bond rose above six per cent for the first time in this millennium, putting Chancellor John Healey in a collision course with markets.
Airtel Money set for £5.3bn valuation in London’s biggest IPO in years
Airtel Money is set to float at a valuation of £5.3bn in what would be one of the biggest listings on the London Stock Exchange in recent years.
UK house price growth halves as mortgage rates weigh on demand
UK house prices rose at their slowest rate since December last month as expensive mortgages and uncertainty ahead of the Autumn Budget fuelled caution among buyers.
Nubank denies active Monzo takeover talks after shares plunge
Brazilian fintech Nubank has denied it is in active takeover talks with digital bank Monzo after shares in the firm plunged on speculation of a deal.
Might Manchester City punishment push them into forming a global super league?
What if heavily punishing Manchester City causes their ownership to stick two fingers up at the Premier League and walk away, wonders Ed Warner. Let’s play fantasy football. But first the disclaimer: yes, Manchester City have their backs to a precipitous sporting and financial cliff. Yes, they are surrounded by the massed armies of Premier [...]
Alpine A390 GT review: a family-sized substitute for a sports car
It’s been quite the year. I turned 30, got married and bought a house. As my wife promised, I could finally start saving for a silly car now the sensible purchases were done. As part of the DINKY (double income, no kids) brigade, I was getting excited while flicking through ads for sports cars. A [...]
FTSE 100 Live: Stocks plunge as bonds and oil up pressure
Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: Listed companies shouldn’t be excluded from Burnham’s Scale-Up Fund Burnham’s North Sea ‘pragmatism’ vow leaves energy industry hopeful UK bank lending growth to fall to three-year low Bring ‘punishing’ high street taxes in line with banks, Healey urged
Why are so many London buses crashing?
The number of buses crashing in London is up by a fifth in seven years, but City Hall seems unconcerned. James Ford is worried Something is going badly wrong with London’s buses. On average, every day a staggering 44 London buses crash. That is an increase of nearly 20 per cent on 2019 (which is [...]
Britain may not be facing economic apocalypse, but it looks that way
Despite a challenging economic landscape marked by rising inflation and borrowing costs, the UK economy demonstrates unexpected resilience and potential for recovery, says Daniel Mahoney It is fair to say the economic landscape looks bleak. Brent Crude is hovering around $100 a barrel and rising gas prices are set to drive up inflation. Meanwhile, markets [...]
Why Burnham’s housing revolution won’t work
Despite giving a passionate defence of everything home ownership can give to a family, Burnham’s actual policies do alarmingly little.
Es Devlin at the Design Museum: A fitting spectacle
Es Devlin: Other Worlds | Design Museum | ★★★★★ As one of City AM’s theatre critics, I’ve long been blown away by the work of Es Devlin, perhaps the most famous set designer in the land (although Bunny Christie might have something to say about that). She’s one of those artists whose work you can immediately recognise: she’s drawn again and again to familiar shapes and arrangements: beams of light, rotating cubes, concentric circles.
The good news nobody will tell you: the Great Barrier Reef is refusing to die on schedule
Despite the efforts of an entire PR industry built to predict its demise, the Great Barrier Reef is actually flourishing, says Bjorn Lomborg Australia’s marine scientists recently released their annual audit of the Great Barrier Reef, and it contains news you almost certainly haven’t heard: coral cover held steady or increased across most of the [...]
With Brexit on the ballot the next election will be box office
Whatever else Andy Burnham’s conference speech achieves, it has certainly opened up some major dividing lines in British politics – and some old wounds. The next election, when it comes, could well have Brexit on the ballot after the PM said he’s open to looking at everything from joining the customs union or entering the single market through to full fat EU membership.
Information wars: The digital mafia weaponising local news
In part two of our investigation into the disinformation barons, Steve Dinneen dives into a world where hostile factions run smear campaigns for cash and victims have nowhere to hide. To catch up on the first part, follow this link “A fool may ask more questions in an hour than a wise man can answer in [...]
Robert De Niro could do anything. So why is he promoting Nobu?
Robert De Niro talks to City AM The Magazine about his enduring love for Nobu, and how aged 83, he is fiercely protective of his businesses In an intimidatingly futuristic building made almost entirely of glass, I pass through a marble-clad lobby, up a flight of stairs and into an expensive-looking hotel suite. Here a [...]
Listed companies shouldn’t be excluded from Burnham’s Scale-Up Fund
Backing Britain’s future through initiatives like the Scale-Up Fund means backing its public growth companies too, writes Danny Lopez.
Burnham’s North Sea ‘pragmatism’ vow leaves industry hopeful
Andy Burnham promised to be “pragmatic” about drilling in the North Sea in his conference speech. Those in Aberdeen say there’s not a moment to lose. Bedecked in her obligatory high-vis jacket and surrounded by hardhard-wearing oil and gas workers, Miatta Fanbulleh’s first ministerial trip was a striking piece of political symbolism. Just three days [...]
UK bank lending growth to fall to three-year low
Growth in UK bank lending is forecast to stall in the coming years as borrowers feel the pinch of uncertain economic conditions.
Bring ‘punishing’ high street taxes in line with banks, Healey urged
John Healey has been urged to bring down the “punishing” tax burden facing the retail and hospitality industries, which is higher than any other sector. Hospitality businesses pay 82p in taxes for every pound and retail pays 72p, compared to the 40p paid by banks, according to new analysis by the British Retail Consortium (BRC) [...]
Poundland owner faces break-up of retailer it bought for £1
The owner of Poundland is weighing a break up of the retailer after receiving a flurry of bids for just some of its 600 shops, City AM understands.
Businesses braced for wave of tribunal claims as government expands legal time limit
Employers are set to face a fresh legal headache as the time limit for employees to bring claims to employment tribunals doubles, as the next phase of the reformed Employment Rights Act takes effect.
AI voice firm Elevenlabs hits $22bn valuation in fresh boost for UK tech
London-based ElevenLabs has hit a $22bn (£16bn) valuation after completing a $300m employee share sale, marking another sharp jump in value for one of Britain’s fastest-growing AI firms. The voice AI group’s valuation has doubled since its $11bn Series D in February, when it raised $500m, and is now more than 2,000 times the $9m [...]
Tilda Swinton is sublime in play about survival amid turmoil
Man to Man | Royal Court | ★★★★☆ With a shock of dishevelled blond hair and the demeanour of David Bowie with an existential hangover, Tilda Swinton is perfect as the lead in Man to Man – so perfect, in fact, that this is the second time she’s done it, reprising her 1988 performance on this very stage. It may be a one-woman show but there’s no vanity behind this celebrity casting: Swinton cuts a grotesque figure as Ella Gericke, swaying across the stage in a pair of saggy Y-fronts and a grubby wife-beater vest.
Toast the City Finalists: El Vino Fleet Street
As the Toast the City Awards hurtle towards us, Libby Brodie checks out one of our Best Bar finalists El Vino Fleet Street
Britain’s oldest brewery mulls future as cost pressures bite
The family-run company behind Britain’s oldest brewery, Shepherd Neame, is exploring its future after wrestling with soaring costs and sliding sales.
Burnham to ‘keep distance’ from Manchester City case
Andy Burnham has vowed to not interfere in the Premier League’s battle with Manchester City but admitted he hopes it will not harm relations with Abu Dhabi.
‘Not sustainable’ - French borrowing costs soar amid election uncertainty
France is facing a period of acute bond market stress that could last several years unless the presidential frontrunners for next year’s election commit to tackling its gaping deficit, analysts have warned.
Andrew Griffith: Burnham’s only belief is that the state knows best
Andy Burnham has offered up a ten-year plan for socialism. Conservatives would do things differently, says Andrew Griffith
NFL cut ticket prices to fill Tottenham Hotspur Stadium
The NFL has cut ticket prices for this weekend’s fixture between the Indianapolis Colts and Washington Commanders in a bid to fill the Tottenham Hotspur Stadium.
Mike Ashley continues leisure push with Boom Battle Bar deal
A company backed by Mike Ashley has snapped up Boom Battle Bar for £11m, extending the retail tycoon’s push into leisure and hospitality.
Lisa Nandy admits ‘problem’ with Ofcom enforcement of online safety rules
Lisa Nandy has admitted there is “a problem” with Ofcom’s ability to enforce online safety rules as she signalled further regulation of tech firms beyond the government’s under-16 social media ban.
Can Brewdog get ‘equity punks’ onside and move on from James Watt?
Craft beer giant Brewdog has launched a reset under its American owners Tilray. Felix Armstrong explores whether the company can truly move on from James Watt Dessert-flavoured beer, provocative ad campaigns, waxy-mustached artisans – much about Brewdog’s long-anticipated reset feels familiar, as if the recently-collapsed craft brewer is really getting back to its roots. But [...]
Ashes tickets expensive, admits ECB chief Gould
The CEO of the England and Wales Cricket Board has admitted that tickets to the next Ashes series in 2027 are expensive.
MI5 warns UK academics have been aiding Chinese spies
Chinese intelligence tried to “covertly benefit” from British AI and technology research, security minister Dan Jarvis has warned, after MI5 accused a Beijing-linked institute of using UK academics to boost its spying capabilities.
Burnham grid shake-up offers data centres escape from power queue
Britain’s data centre developers could be handed a new route around years-long waits for electricity under Andy Burnham’s plan to open up the power grid to competition. The prime minister unveiled Great British Grid (GB Grid) on Tuesday, a publicly owned arm of Great British Energy that will aim to challenge existing network operators and [...]
Huel rapped for ‘irresponsible’ Spencer Matthews ad
Huel, the meal replacement drink backed by Steven Bartlett, has been rapped by the advertising watchdog for an “irresponsible” ad featuring Made In Chelsea star Spencer Matthews.
Savings from triple lock pension reform to take over a decade
Planned reforms to the triple lock on pensions will need 14 years before delivering savings worth more than £10bn, new government analysis has shown, as the Prime Minister admitted there was a “shortfall” in plans to fund a new National Care Service.
Motonovo hikes motor finance provision as buyers circle Aldermore
Car finance firm Motonovo has ramped up its provisions for the motor finance scandal as top banks and private equity firms explore a takeover of its parent company Aldermore.
Manchester City hierarchy must also be punished if guilty, says former FA chief
Manchester City chiefs must face personal punishments if the findings that they orchestrated almost £1bn of secret payments to the club are upheld, according to former Football Association boss Mark Palios.
Zilch leaning towards London IPO as UK fintech calls in bankers
UK fintech Zilch is leaning towards a public debut on the London Stock Exchange as it kickstarts plans for a potential $2bn listing as soon as next year.
Studio behind Danny Dyer, Hugh Jackman films nears collapse
A British film studio founded by an ex-Lionsgate boss has folded into administration just a few years after taking $150m in start-up financing.
San Francisco tech firm expands London footprint with new City office
US design software group Figma has expanded its London headquarters as it looks to double down on its growth in Britain, where firms created more than 15 million files on its platform over the past year.
Bailey calls for greater AI testing as risks to economy rise
Andrew Bailey has called on governments to ramp up testing on frontier AI models before they are launched to the public, warning that advanced artificial intelligence posed sophisticated threats to the banking, markets and payments systems. In the first of a series of letters on the fledgling technology, the governor of the Bank of England [...]
Winkworth launches board review as family feud rocks estate agent
London estate agent Winkworth has launched an independent review of its board as it battles to contain the fallout of a boardroom family feud involving the firm’s its chief executive and his father, the former chair.
Prem Rugby extends deal with trading platform Etoro
Trading platform Etoro has extended its partnership with Prem Rugby as it solidifies its growing status within sport.
Lime targets commuters with ‘more affordable’ cycle to work scheme
Lime is making its e-bikes cheaper for workers through the Cycle to Work scheme as the ubiquitous green operator steps up its push for a bigger wedge of London’s daily commute. Workers will be able to pay for an annual Lime subscription through salary sacrifice, cutting the cost by as much as 47 per cent [...]
Andy Burnham: Brexit could be reversed at next general election
Andy Burnham has confirmed he is open to reversing Brexit and could push for Britain to rejoin the European Union after the next election, as he said all options are “on the table” for Britain’s future relationship with the bloc.
Greggs puts jobs at risk as baker braces for worse inflation
Greggs has announced a shakeup of its manufacturing processes which could lead to the closure of four factories and cost 740 jobs, as the baker warns of “greater inflationary pressures” across its business.
UK disposable income rises as benefits payouts soar ahead of wages
The average UK household’s disposable income increased in the second quarter of the year driven by a rise in benefit payouts. Real household disposable income per head – which measures the average spending and saving capacity of Brits – increased by one per cent in the second quarter to £6,577, new figures from the Office [...]
Economists warn of tax hikes after Burnham admits care funding ‘shortfall’
Andy Burnham has admitted there may be a “shortfall” in his ambitious plans to fund a new national care service, as economists warn that taxes will have to rise.
FTSE 100 Live: Stocks to jump after emergency oil release
Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: Revolut and Nubank want to make neobanking their world Reform UK and Tories attack Burnham’s triple lock pension move End the non-competes! Tech bosses warn ‘unfair’ rules are choking UK growth Technology, data and infrastructure the new frontier for sport investment New Brewdog owner mounts comeback fr
The Debate: Should you be allowed to text in sick?
The government’s back-to-work tsar wants you to call, but is texting in sick really an issue? We hear the case for and against in the Debate.
The Big Four must wake up from their pandemic dream
The pandemic was the worst thing that could have happened to the Big Four giants and the overall consultancy market. At the time, these firms were flying high, flooded with inquiries from businesses needing help to navigate the ‘once-in-a-lifetime ‘ event, but this ‘sugar rush’ didn’t last forever, and it gave the industry a false [...]
James Reed: Celebrating wealth could energise young people
Fostering a more supportive and celebratory culture around wealth creation could help inspire more young people, writes James Reed.
Burnham sets out his socialist stall and business barely gets a mention
We were told to expect a speech that would leave no room for doubt about what Andy Burnham believes in, and we got one. There might not be much detail yet about how the Burnham Revolution will unfold but there is no ambiguity, either.
Think EVs are dull? The Peugeot E-208 GTI will change your mind
Tim Pitt drives the new electric Peugeot E-208 GTI hot hatch. Can it rekindle the spirit of the classic 205 GTI? Europe’s car companies are increasingly looking backwards to move forwards. Retro styling, which began as a bit of a gimmick with the Volkswagen New Beetle in 1998, is now melded into the mainstream. Take [...]
The BMW i7 costs £1,449 a month. Is it worth it?
BMW’s i7 is a luxury electric limousine costing £1,449 a month on current finance. But does the car justify that kind of monthly commitment? BMW i7 finance, how much does it cost? £1,449 a month is a lot of money to spend on a car, even if that car is a BMW i7. Yet that’s [...]
What can steam trains teach us about progress in AI?
Contrary to popular belief, Stephenson’s Rocket did not hail the dawn of the steam age. Likewise, AI has actually been in development for decades, but progress could now begin to move faster than steam trains ever could, says Paul Ormerod The economics Nobel Laureate Robert Solow famously stated in 1987: “you can see the computer [...]
The state wants to ‘buy British’. But the British don’t want to work with the state
The government’s drive to ‘buy British’ is futile if British companies don’t want to sell to them, writes Joe Hill.
Six Exchange boss: London was always punching above its weight
Bjorn Sibbern’s Six Group has, so far, weathered a bruising 2026. But, Ali Lyon asks, can its approach to running two of Europe’s largest bourses – which look markedly different to that of its UK counterpart the London Stock Exchange – survive its continent’s fabled regulators? Life at the top of a European stock exchange [...]
Revolut and Nubank want to make neobanking their world
Nubank’s takeover talks with Monzo shocked the City. In this week’s column, Samuel Norman takes a look at how and why a deal might emerge and the battle that lies ahead with Revolut. Around a decade ago, a handful of colourful plastic cards found their way into Brits’ wallets. Monzo was one of the first, [...]
Temerario on-track: flat-out in Lamborghini’s ballistic V8 supercar
Having driven the ‘baby’ Lamborghini on the road, Tim Pitt gets a chance to fully unleash the updated 2027 Temerario on a circuit
Reform UK and Tories attack Burnham’s triple lock pension move
Reform UK and Tory leaders have hit out at Andy Burnham’s plans to drop the triple lock on pensions in a future Labour manifesto, setting up a clash on a policy which previously had the backing of all major political parties.
Vodka robots and free martinis: Celebrate National Vodka Day
An army of 15 robots will be stationed around London Bridge this week, enticing Londoners towards a 4m-high fountain of free vodka martinis.
End the non-competes! Tech bosses warn ‘unfair’ rules are choking UK growth
Some of Britain’s leading tech founders have called on the government to tear up “unfair” employment restrictions they say are choking growth and leaving UK startups struggling to compete with Silicon Valley. The bosses of Elevenlabs, Synthesia, Fuse Energy and a string of British AI startups have signed an open letter published on Tuesday demanding [...]
Technology, data and infrastructure the new frontier for sport investment
Technology, data and infrastructure are going to be at the forefront of sports investment as money moves beyond simply buying teams, according to new analysis.
Manchester City bombshell verdict finds club hid over £900m in secret funding
The Premier League has published damning details of the long-awaited verdict in the Manchester City case, which found the club cooked the books to the tune of nearly £1bn for almost a decade.
AI doom headlines aren’t spooking all investors
Retail investors' response to AI doom headlines disproves the common notion that they move as a herd, writes Finimize CEO Carl Hazeley.
End of triple lock: What is the double lock and will it work?
Andy Burnham has pledged to drop the triple lock on state pensions for a so-called ‘double lock’ in Labour’s next manifesto in order to pay for his new National Care Service. In an address to party members, Burnham confirmed the existing triple lock mechanism will remain in place for the remainder of this parliament before [...]
Chance Poet and Bill to rise to Ascot challenge
THERE is a feast of top-class racing this weekend in the UK and across the channel, with Sunday bringing the Prix de l’Arc de Triomphe from Longchamp.On home soil, Saturday also brings Group One action with the Sun Chariot Stakes (1.35pm) from Newmarket, which looks to be at the mercy of favourite Blue Bolt.However, the [...]
Not backing Maltese in Sunday’s Arc will leave you Cross
ARGUABLY the showpiece of the European Flat season takes place on Sunday, in the form of the Group One Prix de l’Arc de Triomphe (3.05pm).Ground conditions tend to be testing at Longchamp at the beginning of October, as they were last year when current favourite Daryz motored home to land the prize.However, the rain has [...]
E-bike giants back Khan bid to end London ‘Wild West’
London’s leading e-bike operators have backed Sadiq Khan’s bid to end the capital’s regulatory ‘Wild West’ while piling pressure on the government to get a long-awaited city-wide licensing regime into force. Lime, Forest and Voi welcomed new plans to replace London’s borough-by-borough wars with a single framework overseen by Transport for London (TfL), after years [...]
British Airways defeats HMRC in £5.8m Heathrow cabin crew tax dispute
British Airways has won a tax battle against HMRC over whether costs tied to accommodation for cabin crew at London Heathrow airport working back-to-back shifts were subject to £5.8m worth of income tax and national insurance contributions.
Burnham floats closer EU ties as he rips into Brexit
Andy Burnham said the forthcoming UK-EU summit will open up closer ties with the European bloc as he used his Labour party conference speech to tear into Brexit.
PFA boss Molango hints at footballer strike if Fifa competition expansion persists
Footballers could take “radical” steps such as strike action as a result of Fifa’s expansion of the World Cup and Club World Cup, players union boss Maheta Molango has warned.
Burnham pledges to reform triple lock to fund new National Care Service
Andy Burnham has said Labour will drop the triple lock on state pensions in its manifesto for the next election in order to fund a sweeping new National Care Service. In his address to party members, Burnham said the party would link a rise in the state pension to inflation or 2.5 per cent every [...]
South West Water hit with £7.8m fine for ‘horrendous’ pollution offences
South West Water has been hit with a £7.8m fine by the Environment Agency over a string of pollution-related offences across Devon and Cornwall that took place over a six year period.
Earls Court developers issue major blow to Chelsea FC stadium move hopes
Earls Court developers have poured cold water on any hopes of Chelsea building a new stadium at the 44-acre site, insisting their regeneration plans remain unchanged.
Burnham to repeal ban on public ownership of water companies
The government will repeal a ban on public ownership of water companies as part of ten-year transformation of the privatised water sector, the Prime Minister has announced.
Vitality ends relationship with cricket’s T20 Blast
Vitality has scaled back its involvement with English cricket, opting not to continue as title sponsor of the T20 Blast.
Legal sector warns against tax ‘raid’ proposal on client account interest ahead of Budget
London’s legal sector has sounded the alarm over government plans to cut interest on law firms’ client accounts to fund the justice department, warning it could drive some law firms out of business. The Ministry of Justice’s consultation on a proposal to introduce an Interest on Lawyers’ Client Accounts Scheme (ICLA) closed in March after [...]
Soho House founder’s new hotel could rebirth London nightlife
St Clement hotel from Soho House founder Nick Jones feels unusually hedonistic for 2026, with dimly lit bars and restaurants, and new sightlines over the Thames Blame Nick Jones if you’re sick of hearing about members’ clubs. He invented the modern iteration of them when he founded Soho House in 1995, now with over 250,000 [...]
FTSE 100 bosses’ pay boom fails to bridge Wall Street gap
Pay for FTSE 100 bosses ballooned over the last year as boards turned to share bonuses in a bid to catch up with the compensation offered by US giants. The median granted chief executive pay in London’s blue-chip index swelled 16 per cent to £6.1m, according to a report from Diligent Market Intelligence. Long-term incentives [...]
Manchester City should be kicked out of Premier League, says LaLiga’s Tebas
Spanish football league chief Javier Tebas has called for Manchester City to be expelled from the Premier League after being found guilty of mass financial rule breaches.
How could Manchester City verdict impact UK trade relationship with UAE?
The pending outcome of the case involving 115 charges lodged against Manchester City could define the recent past of the Premier League and shape its coming decades.
Anthropic warns investors of ‘existential risk to humanity’ in IPO pitch
Anthropic has warned investors that its most advanced models could pose “existential risks to humanity” in an initial public offering pitch document that also revealed ballooning losses and surging costs at the AI juggernaut.In a prospectus published before its eagerly awaited public debut, Dario Amodei’s tech giant argued AI would transform the global economy more [...]
Markets should accept cheap money isn’t coming back
We are no longer living in the post-financial crisis world, and the market needs to adjust, writes Helen Thomas.
Crew Clothing warns on consumer confidence as profit stalls
Crew Clothing has warned that it could suffer from a significant slowdown in consumer confidence, as the retailer saw profit stall last year.
Grant Thornton takes on Big Four giants with new £40K salary for London grads
Grant Thornton has raised its London graduate starting salary to £40,000 and introduced “milestone bonuses” into the pay structure as part of the firm’s ambition for significant growth.
Land shortage ‘leaves Nato defence targets at risk’
The UK risks falling short of Nato defence spending targets unless it immediately slashes planning red tape to address its land shortage, the government has been warned.
Why is Burnham set to turn against the triple lock?
The controversial pension triple lock is reportedly set to face the axe as Andy Burnham looks to pare back one of the biggest areas of government spending to fund his plans elsewhere. In his maiden conference speech as prime minister on Tuesday, Burnham is expected to signal the death of the triple lock after 16 [...]
Selfridges urges Burnham to reinstate tax-free shopping
Selfridges has called on Andy Burnham to reinstate VAT-free shopping for international tourists as part of his push to revive British high streets and boost regional growth.
A National Social Care Service would be a total disaster
Even if we generously assume that a National Care Service would not lead to efficiency losses, crude rationing of care services, and an explosion in waiting times, it would still be a bad idea, because it would lead to the politicisation of key decisions in the sector, says Kristian Niemietz Britain spends about 2.6 per [...]
Burnham to announce new publicly-owned grid operator
Andy Burnham is expected to announce a new publicly-owned body which will invest in the UK’s electricity grid in an attempt to bring down Britain’s sky-high energy costs.
Burnham set to signal end of triple lock in conference speech
Andy Burnham is set to signal the end of the triple lock on pensions in his maiden conference speech as Prime Minister, in a move that is likely to divide the Labour party.
Astrazeneca invests $2bn in cancer drug tie-up
Astrazeneca has invested $2bn in US pharmaceutical firm Summit Therapeutics as part of a blockbuster cancer research tie-up.
Close Brothers raises cost-cutting target as job cuts begin
Close Brothers has dialled up its cost-cutting plans and said it was “well into next stage of restructuring” after revealing it would slash its headcount by around 20 per cent earlier this year.The FTSE 250 bank said on Tuesday it had delivered £36m of savings in its latest financial year, coming ahead of the initial [...]
London’s best pub crawl through our Toast the City finalists
As we prepare to reveal the City’s best boozer at our Toast the City awards, we sent wine writer Libby Brodie on a pub crawl through some of the contenders Nowhere in the world does pubs like the City of London. We have absolutely nailed it. We do firesides, board games, slowly poured pints, waxy [...]
Toyota Land Cruiser 2026: Old-school 4x4 ready for anything
“If you want to travel into the outback, take a Land Rover. If you want to come back again, take a Land Cruiser.” It’s a well-known gag in Australia and other more rugged parts of the planet (where the word ‘outback’ could be substituted for desert, mountains or any kind of wilderness). After more than [...]
FTSE 100 Live: Stocks rise as oil at $107; Burnham speech
Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: Burnham to pledge greater control of water and energy industries Nvidia launches AI agent safeguards alongside record buyback Openreach eyes further fibre discounts after Ofcom blocks price cut Financing for Crystal Palace stand construction not completely secured London Broncos say
Andy Burnham can’t treat Heathrow expansion as a local planning issue
Has Andy Burnham’s commitment to devolution morphed into a convenient excuse not to lead? I ask, because he seems to have excused himself from the debate about a critical £50bn national infrastructure project: Heathrow’s third runway.
Are we regulating all the fun out of fireworks?
As Truro cancels its Bonfire Night display, the government is consulting on tightening regulations around fireworks that could put a dampener on this great British tradition, says Steve Raper Nobody is proposing to ban Bonfire Night. Of course they aren’t; but there is more than one way to make a tradition disappear. As Brits, we [...]
London restaurant hits and misses from Martin Williams
Explore Martin Williams’ verdict on Café Clement, Eve Bar and Fenix, from slick openings to Mayfair missteps, and plan your next London booking.
Labour will learn to love deregulation
The Labour government I served in made advances in planning reform and curbing regulator overreach. But those efforts should be seen as a first step, not job done. Not least because there is barely a great progressive cause that does not now require deregulation to advance, says Alan Lockey Warm words for business are a [...]
Nike, Adidas and Puma put historic differences aside to target tariffs and inactivity crisis
The sporting goods industry is no stranger to bitter rivalries, from the family split that spawned Adidas and Puma to the former’s decades-long battle for supremacy with Nike. Now, however, those brands and others have united to lobby policymakers worldwide for lower tariffs as part of a joined-up approach which they say will tackle rising [...]
Last orders: Boss of under-fire pub regulator defends her record
The Pubs Code Adjudicator, Fiona Dickie, is preparing to step away early next year. She tells Felix Armstrong why the beleaguered watchdog deserves a future Can an industry watchdog be effective if it has launched only two investigations in its 10 years of existence? Yes – at least according to Fiona Dickie, the Pubs Code [...]
Burnham to pledge greater control of water and energy industries
Andy Burnham will double down on plans to seize greater public control of the water, energy and transport industries tomorrow as he pledges to “break with the flawed thinking of the past 40 years”.
Nvidia launches AI agent safeguards alongside record buyback
Nvidia has launched new safeguards designed to stop AI agents breaking out of controlled environments, after a series of security incidents have fuelled calls for tighter oversight of the technology.
XPeng G6: Five Things I Like About It
As London’s key decision-makers handle the transition to net-zero, the capital’s fleet managers and executive drivers are navigating the journey to zero-emissions motoring, writes Tim Barnes-Clay. Even though electric vehicles (EVs) haven’t been around for long, the market already feels overwhelmingly crowded. That’s especially true after the recent avalanche of Chinese brands entering the UK, [...]
Renault 5 E-Tech 2026 long-term review – third report
It happened again yesterday. Twice now, while navigating the Surrey suburbs, I’ve had a cheery wave from a fellow Renault 5 driver heading in the opposite direction. This kind of car-based camaraderie was the norm when I drove an original Mini, and I know folk with classic Land Rovers do the same. I’ve never experienced [...]
Openreach eyes further fibre discounts after Ofcom blocks price cut
Openreach is considering further targeted fibre discounts over the next five years after Ofcom blocked its most aggressive attempt to cut wholesale prices, the BT-owned network told City AM. The broadband giant said it remained open to competition in different parts of the country after the regulator approved a separate £50 rebate for new full-fibre [...]
Audi A6 Avant E-Tron review: electric estate leads the space race
The Audi A6 Avant E-Tron has a lot to unpack. Literally, because we have just taken it on a camping trip and filled its 502-litre boot to the brim. And figuratively, because this electric estate is chock-full of clever technology. The E-Tron’s ‘numerous technological advances’ range from the ingenious (a foot-operated boot release with its [...]
Financing for Crystal Palace stand construction not completely secured
Financing for Crystal Palace’s new major stand redevelopment has not been completely secured, the club’s chairman Steve Parish has revealed.
Josh O’Connor shines in Golden Boy, a boxing epic at the Almeida
Golden Boy | Almeida | ★★★★★ Boxing – and fighting more generally – has always made for thrilling pop culture. Raging Bull, Rocky, The Fighter, The Wrestler, The Smashing Machine: there is something inherently dramatic about stepping into the ring: two people, cordoned off from the world, engaged in a violent battle of wills. One will triumph, the other will limp off the stage. It’s the human experience condensed, a bloody snapshot of the savage garden in which we exist.
London Broncos say they’ve paid tax bill owed to HMRC
London Broncos owners say they have paid their tax bill after being hit with a winding-up petition by HMRC on Monday.
Healey: We don’t have as much money as we did under New Labour
Chancellor John Healey has warned Labour members that the government does not have available funds to spend more on public services. In his address to party activists, Healey said Tony Blair’s government in the late 1990s and early 2000s had more flexibility with public finances given higher growth rates and lower amounts of debt. The [...]
UK economy in turmoil as diesel and borrowing costs surge
The UK economy entered “uncharted territory” on Monday battling an assortment of financial pressures as fears intensified ahead of the next Budget.
The Monetary Policy has changed its mindset. What’s next for interest rates?
Investec Chief Economist Philip Shaw explains why an interest rate rise now looks more likely – and when these changes are expected.
British bosses face compliance headache over delayed EU pay transparency rules
British businesses are still troubled by complex European Union pay transparency laws after a delayed, fragmented rollout across the bloc.
Claimant law firms seek appeal in Diesel emissions legal battle
A group of car manufacturing giants may be forced back to the High Court to defend allegations that they installed devices to curb diesel emissions tests.
‘Resilience or reliance’ - Tech chiefs urge Burnham to spend £20bn on AI
British tech bosses have called on the government to commit more than £20bn to sovereign AI infrastructure, warning the UK risks becoming dependent on foreign technology in one of the most important industries of the coming decades.
Revolut and Monzo urge Healey to raise bank tax threshold
Revolut, Monzo and Shawbrook are among a raft of challenger banks calling for John Healey to raise the threshold at which UK lenders are hit with an additional tax grab.
Interest rates will ‘need to rise’ if price pressures persist
Interest rates may need to rise if growing inflation pressures continue to build, according to the Bank of England’s deputy governor, who added there had been “robust discussion” among officials over the authority’s recent bond sale overhaul.
Miliband: ‘We cannot leave it to corporations’ as UK takes on Big Tech over AI
Ed Miliband has vowed Britain will use its G20 presidency next year to push for global rules on AI, warning governments “cannot leave it to corporations” to police the technology. The foreign secretary said the economic potential of AI was “inspiring” but warnings from the companies developing the technology meant governments needed to act. “The [...]
NFL London games set to contribute £90m to capital
Fans attending the upcoming NFL London games are set to contribute more than £90m to the capital’s coffers, according to a new study.
Aldi says rival supermarkets are pushing up prices to drive growth
The boss of discount grocer Aldi has accused its rivals of driving growth by raising food prices, as the supermarket committed to fending off “persistent” price inflation. Giles Hurley, chief executive of the UK’s fourth-biggest supermarket, hit out at the grocer’s competitors, insisting that Aldi is the only operator whose prices have fallen year-on-year. He [...]
Manchester City could be sued by players for lost earnings over 115 charges guilty verdict
The ramifications of Manchester City’s mass guilty verdict in the 115 charges case could extend to being sued for compensation by players from rival teams, say leading sports lawyers. City are facing a devastating fallout after being found guilty, pending an appeal, of all but one of the charges of breaching financial rules over a [...]
The Times publisher deploys AI legaltech support lawyers - and reporters
The publisher behind The Times and The Sun is bringing AI into the newsroom after investing in a legaltech tool that scans vast amounts of copy for libel and legal risks in minutes.
Wealth advisers battle client fears as Budget tax speculation grows
Wealth advisers are being hit with an influx of questions over tax changes as speculation over what may be announced in next month’s Autumn Budget continues to grow. Wealth and asset managers across the City are reporting a surge in conversations with affluent clients who are becoming worried about potential tax changes which could affect [...]
Drama in the City as Lord Mayor frontrunner pulls out of the process
The frontrunner to become the next Lord Mayor of the City of London has abruptly withdrawn his candidacy after a close business associate was hit with criminal proceedings, City AM understands.
Burnham must kill off bonkers Chagos deal for good
The proposal to cede sovereignty over the Chagos Islands to Mauritius and pay for the privilege appeals to no voters and has lost the support of Donald Trump. Andy Burnham should pull the plug, says Eliot Wilson It became clear early in Sir Keir Starmer’s brief premiership that here was a leader of unusual political [...]
JCB billionaire names youngest son chair in end to succession saga
The billionaire boss of JCB has appointed his youngest son co-chairman, ending a succession saga at the top of the digger manufacturer.
Housebuilder shares rocket after Burnham revives Help to Buy
Housebuilder shares have soared after the Prime Minister announced a new Help to Buy scheme, which it is hoped will boost the UK’s construction sector. FTSE 100 housebuilders Persimmon and Barratt Redrow jumped 15 and 13 per cent in early trading, lifting the blue-chip index to early gains. FTSE 250-listed Vistry took the biggest jump [...]
Chrysalis sells off Klarna stake for £34m after stock plunge
Chrysalis Investments has sold off its remaining stake in buy now, pay later firm Klarna following a bruising plunge in the fintech’s value over the last year.
Ofcom blocks ‘unfair’ Openreach pricing scheme
The communications regulator has blocked Openreach’s new pricing scheme, arguing the proposed charges were “unfair” and granted it an unfair advantage over competitors.
Aldi to invest £900m in new stores after record turnover
Aldi is set to spend £900m opening new stores next year, as the discount grocer warned the Iran war and droughts were pushing up the “pressures” facing households.
FTSE 100 Live: Healey says government debt ‘affront to our values’
Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines this morning: Burnham: Social care reforms to be paid by new taxes Burnham declines to back Heathrow third runway amid four-year delay UK has ‘low capital gains tax rates’, Healey says Should Vuori ditch Draper over injury-hit tennis season? Monzo in talks over £10bn sale
Consultancy firms told to step up as bosses threaten to cut ties
Stretched corporates are under pressure and looking to slash costs – and consultancy firms are in the firing line, writes Maria Ward-Brennan.
London to make up ‘more than half’ of new UK banking jobs
London will make up more than half of all new banking jobs in the UK, new data has indicated, as the likes of JP Morgan and Barclays are set to bring a recovery in hiring levels.
The City’s contribution cannot be taken for granted
Growth in London or the regions is not a zero-sum game. The success of the City is good for the whole country, writes Chris Hayward.
Trump-Xi summit: Don’t be fooled, this was more than panda diplomacy
Yes there was one panda involved, but eight-ninths of the real outcomes of this meeting are hidden from sight, writes Tim Hames.
Healey looks to Royal Navy for ‘new age of industrialisation’
Chancellor John Healey will make upgrades to the Royal Navy central to his flagship speech at the Labour Party conference on Tuesday as he promised a “new age of industrialisation’.
Burnham: Social care reforms to be paid by new taxes
Andy Burnham has said proposed social care reforms would be funded by new taxes after a General Election, claiming he wanted to create a new system where “everyone contributes”.
UK has ‘low capital gains tax rates’, Healey says
The UK enjoys the lowest capital gains tax rate of any major European economy, Chancellor John Healey has said, raising the prospect of another hike at the Budget.
Heathrow third runway suffers four-year delay
Heathrow Airport’s third runway will be delivered only four years after an initial target, it was revealed, amid questions over whether the plan will get the go-ahead.
Should Vuori ditch Draper over injury-hit tennis season?
California-based performance and lifestyle brand Vuori signed Jack Draper from Nike in August 2025 to global headlines. At the time it looked like a masterstroke. He was ranked world No5 and was well placed to challenge Nike’s big two players, Carlos Alcaraz and Jannik Sinner. Combined with his Burberry deal Draper appeared to cement himself as the men’s tennis fashion icon and someone that bridges sport and lifestyle.
Monzo in talks over £10bn sale to Nubank in blow to IPO hopes
Digital bank Monzo is in early discussions over a sale to Brazilian fintech giant Nubank, in a move that could crush hopes of the British firm listing on the London Stock Exchange.
AI will never destroy the beauty of supporting clubs like Bournemouth
A record transfer window, club investments at ever increasing valuations and the same unpredictability of results on the football pitch. Was it ever thus? And will it ever change? The memories sport creates are at the heart of what makes it so special. Taking a step back, next year will mark 30 years since I [...]
Arsenal, Liverpool, Man Utd and Spurs could claim damages from Manchester City
Arsenal, Liverpool, Manchester United and Tottenham Hotspur could claim damages from Manchester City after they were found guilty of 114 counts of breaching Premier League rules.
VW-backed car hire giant plunges to £43m loss as tax hikes bite
One of the UK’s biggest car hire businesses has taken aim at government tax hikes after it plunged to a £43.2m loss.
‘Knock that dead’: Burnham rules out calling early election
Andy Burnham has said the next election will be in 2029 as he ruled out an early snap vote during interviews with local broadcasters.
Anxious bosses prepare charm offensive at Labour conference
Ahead of the Labour Party Conference on Sunday, and one month away from the Budget, businesses are feeling nervous, write Mauricio Alencar and Felix Armstrong Stepping onto an early-morning Avanti West Coast train from London Euston is now a familiar feeling for the Prime Minister. Andy Burnham is set to make the journey more regularly [...]
Court fast-tracks Victoria’s Secret PINK brand clash with London shirtmaker
Lingerie giant Victoria’s Secret has secured a fast-tracked trial in the High Court in London in October to determine whether a London-based shirtmaker breached a legal contract with the lingerie seller over its ‘PINK’ trademark.
Visit Turkey’s glitzy Bodrum and Greece’s unbuttoned Kos
Just a short ferry ride apart, Turkey’s Bodrum and Greece’s Kos make for an easy two-for-one trip. By Nicole Trilivas Two countries in one weekend. This kind of travelmaxxing can sound like overkill (or straight-up exhausting), but it’s reassuringly easy to pair Turkey’s internationally famous Bodrum with the more laid-back, summer-lazy Greek island of Kos. [...]
German expansion not a mistake, Whitbread tells activist investor
Premier Inn owner Whitbread has been forced to defend its expansion into Germany after the activist investor seeking to gain a board seat cast significant doubt over the move.
Met Police set to probe itself over ‘Putney Pusher’ suspect’s death
The Metropolitan Police is set to probe its own handling of the arrest of the man, now dead, suspected of pushing a woman in front of a bus on Putney Bridge in 2017, after an assessment by the police watchdog.
This New York hotel is the antidote to Manhattan’s chaos
New York hotel The Langham brings understated luxury and a sense of calm to the city famously designed as a playground There’s nothing subtle about Midtown Manhattan. This is the epicentre of the New York we all know from the movies, even if you’ve never set foot in the US. There are honking cabs, street [...]
Manchester City face huge sanction after being found guilty of 114 charges
Manchester City are facing a huge sanction after being found guilty of all but one of the 115 charges of breaching financial regulations brought by the Premier League.
International purchases come with currency risk. Here are three ways bespoke FX support can help can save time and stress
From overseas property and luxury purchases to international school fees, foreign exchange can add cost, complexity and uncertainty. A dedicated private client dealer can help make high-value transactions more manageable. An international lifestyle can bring opportunity, flexibility and enjoyment, but it can also create a long list of payments in unfamiliar currencies. For private clients [...]
World Cup brand deals net David Beckham £39m payout
David Beckham has taken a £38.9m payout from his personal business empire after World Cup brand deals drove record income for the former English football captain.
Barbados holidays: The quieter side, with true local charm
For years travellers have flocked to the pristine West Coast of Barbados – but could the South Side of the island offer a different perspective? Yes, essentially: those hoping to experience authentic Bajan culture as well as stay in luxury accommodation now have a variety of options on this lesser-explored part of the island. I [...]
Sheffield Wednesday bidder James Bord set to buy former French champions for €1
Former Sheffield Wednesday bidder and poker professional James Bord is set to acquire another fallen giant of European football after agreeing a deal to buy Girondins de Bordeaux.
Could autumn in the Alps beat the winter ski season?
With the summer sun fading and the ski season a while off it feels like a funny time to be talking about the Alps. However, don’t discount a shoulder season trip to the mountains, which is just as special as a full blown winter one.
Minister tries to keep growth spirit alive amid bleak outlook
A government minister has moved to keep people’s optimism about the UK economy and spending afloat amid fears that interest rate hikes and a difficult Budget could dampen spirits.
Multiple bidders kick off £30m Poundland sale
Several bidders will table offers for Poundland on Friday, as the owners of the discount retailer seek £30m for the company they bought for just £1.
Diesel ban: UK to be ‘even more exposed’ if Trump follows through
After Trump announced a ban on exports of diesel, Mauricio Alencar explores how it could impact the UK economy. President Trump’s newest trade threat sent markets into a frenzy once again on Friday. Earlier this week, Trump said he would back Republican proposals to halt exports of diesel in order to ease prices ahead of [...]
Police shut exclusive Mayfair club over possible gun offence
Police have temporarily closed a Mayfair private members’ club, which has been visited by Sarah Ferguson, Kim Kardashian and Noel Gallagher, over safety concerns.
Gary Lineker collects million-pound dividend after Goalhanger toasts £10m profit
Gary Lineker has collected a million-pound dividend after Britain’s biggest independent podcast business, Goalhanger, toasted a £10m profit.
Premier League sets 100-day ultimatum for Fifa governance reform
Football’s four most powerful leagues have joined forces to call for Fifa to commit to reform, regardless of whether Gianni Infantino remains president.
The Building Safety Levy will cost eight times more in London than County Durham
The new Building Safety Levy, introduced to pay for historic fire safety defects, will make many new developments unviable, especially in London where they are needed most, says Mark Holloway The introduction of the Building Safety Levy (BSL) marks a shift in how the government funds the remediation of historic building safety defects. Due to [...]
Consumer confidence hits two-year high but ‘could soon falter’
Consumer confidence has surged to a two-year high in a surprise rise which will hand a much-needed boost to Andy Burnham ahead of the Budget – but experts have warned that momentum could soon run out.
White House tells AI giants to hold models back from UK safety watchdog
The White House has asked OpenAI and Anthropic to withhold their latest AI models from Britain’s safety watchdog until they have been tested by the US government, threatening the UK’s prized early access to frontier tech.
FTSE 100 Live: Stocks to jump; oil falls on Hormuz deal hopes
Welcome back to City AM’s FTSE 100 live blog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines on Friday morning: OBR chief: Public ‘have not lowered their expectations about what the state can do’ City law firm to rebrand after co-founder demands name be stripped Ministers back City skyscraper plans after Tower of London row Poundland owner could carve out Irish business in rush sale Lord’s Cricket Ground, West Ham,
Olympia reborn: Inside a £1.3bn makeover for a 140-year-old icon
Bringing a Victorian building into the modern age was a labour of love, but the method was “deceptively simple”, Olympia CEO Michael Volkert tells Andrew Busby Opened in 1886 as a Victorian temple to spectacle – trade fairs, Vivienne Westwood’s first runway show, Pink Floyd and Jimi Hendrix under the same cast-iron roof – Olympia [...]
I’m a property developer - here’s why I’m still building in London
Today’s housing market is hampered by higher interest rates, build cost inflation, weaker sales and headlines about war in the Middle East and Ukraine.But residential development has always been about managing cycles: with many projects taking more than a decade from conception through planning, construction to handing over the key to new homes.Property developments starting [...]
Investors are watching Prem Rugby so the league can’t mess this year up
It may still be rather warm outside but you know when it’s autumn because Prem Rugby returns to the sporting calendar. And this year is an important one.
Stamp out pension tax speculation or risk another cash grab, industry warns Healey
The pension industry has warned Healey not to allow pension tax speculation to go “unchecked” in the run up to his maiden Autumn Budget, after rumours led savers to pull millions from pension pots last year.
Deloitte’s tech consulting division weighs on growth
Deloitte reported a rise in revenue in its latest financial year even as growth in its technology and transformation division slipped lower, as the consultancy sector comes under pressure from artificial intelligence.
OBR chief: Public ‘have not lowered their expectations about what the state can do’
A top economist at the Office for Budget Responsibility (OBR) has sent a warning on the effect more tax rises could have on growth and on the public’s expectations about “what the state can do for them”. Professor David Miles, who is one of three top members at the independent fiscal watchdog, said that the [...]
Sadiq Khan ready to discuss ‘any credible proposal’ from West Ham for London Stadium
Mayor Sadiq Khan has invited a bid from West Ham United to buy the London Stadium, saying he “would consider any credible proposal” to offload the publicly subsidised venue.
City law firm to rebrand after co-founder demands name be stripped
The co-founder of a City-based law firm behind the largest group claim in UK history against mining giant BHP said he will file a cease-and-desist to have his name removed after the firm initiated legal action against its own clients in the claim.
Ministers back City in Tower of London heritage row
Ministers have given the greenlight to plans that will allow skyscrapers to be built in the area surrounding the Tower of London, ruling that proposals set out by the City of London corporation will do enough to protect the site’s Unesco status.
Poundland owner could carve out Irish business in rush sale
Poundland’s owners are considering selling off the discount retailer and its Irish branch, Dealz, in two separate transactions, City AM has learned.
Beazley expands cyber cover for AI malfunctions and regulatory risks
Insurance giant Beazley has launched cyber cover to manage the risks of businesses AI use, insuring against unintentional regulatory non-compliance and financial and reputational losses due to AI systems malfunctioning.
Lord’s, West Ham, EY among creditors owed £190m by Brewdog
Lord’s Cricket Club, West Ham United and big-four accounting firm EY are among the big-name firms which are owed £190m by Brewdog.
Founders should not be ‘put off’ by inheritance tax, says Treasury minister
A senior Treasury minister, while praising the state of the UK economy, has said entrepreneurs should not be “put off” by inheritance tax.
Tiktok to pay £12.7m UK child privacy fine despite disputing watchdog findings
Tiktok will pay a £12.7m UK fine over its handling of children’s data after abandoning a three-year legal challenge, despite maintaining that it disagrees with the privacy watchdog’s findings.
Why are women leaving the tech industry twice as fast as men?
Women have the skills and ambition to stay in tech, but too many hurdles are forcing them out, writes Vanessa Vallely in today’s Notebook.
Healey plan to slash headroom would ‘not be received well’ by nervous markets
John Healey’s reported plans to slash the breathing space the government has before it breaks its spending rules would spark a negative bond market reaction and lead investors to question the country’s commitment to fiscal credibility. Bond traders told City AM that any attempt to significantly reduce its so-called fiscal headroom would leave the country [...]
Bailey sends warning as interest rate hikes ‘increasingly likely’
A Bank of England policymaker has suggested that an interest rate hike looks “increasingly likely” if energy prices remain higher for longer although officials struck a cautious tone on whether UK inflation would spiral over the next year.
Oliver CEO: I wouldn’t change anything about the City – embrace the wabi-sabi!
Each week, we dig into the memory bank of the City's great and good. Today: Angela Tangas, global CEO of marketing agency Oliver.
The Capitalist: Slow and steady wins the race at the Bloomberg Square Mile relay
Cigars at Quaglino’s, a cricket-playing Prime Minister and diplomacy at the Bloomberg relay; catch up on the latest City shenanigans in this week’s The Capitalist
Fans drinking alcohol risks sending football back to 1980s, club owner warns
Allowing supporters to drink alcohol on the terraces would be “short-sighted” and “send football back to the depths of the ‘80s”, Andy Burnham has been warned.
Will Airtel Money kickstart London’s IPO pipeline?
London’s sluggish IPO market showed signs of a rebound on Wednesday as Airtel Money confirmed plans for a bumper listing – now the City is hoping it will get the domestic pipeline moving, writes Charlie Conchie. When Airtel Money’s chief executive spoke to City AM yesterday to discuss the launch of his African payment firm’s [...]
Amanda Holden sofas lift DFS as profit jumps
DFS has toasted its partnership with media personality Amanda Holden as the sofa seller saw profits jump by a third.
Defiant Fifa president Infantino tells critics: I’ve never been more determined
Fifa president Gianni Infantino has underlined his determination to stay in power, insisting he has “never been more determined and committed”.
America’s Cup: Ainslie’s GB1 adds Richard Mille to sponsor roster
Britain’s America’s Cup challenger expanded its sponsorship portfolio overnight, adding timekeeper Richard Mille to its roster.
Autumn Budget: Healey weighs slashing fiscal headroom to reduce tax hikes
Chancellor John Healey is debating accepting a smaller fiscal buffer in order to reduce tax hikes in next month’s Autumn Budget.
AO World strikes deal with Peter Jones to snap up Jessops
AO World has struck a deal with Dragons Den star Peter Jones to acquire struggling camera retailer Jessops.
Raspberry Pi profit triples on hot demand
Raspberry Pi’s profit more than tripled in the first half of 2026 as demand for its low-cost computers surged and price rises boosted revenue. The Cambridge-based computer maker posted pre-tax profit of $19.6m (£14.5m), up from $6.2m a year earlier. Revenue jumped 90 per cent to a record $256.9m. Chief executive Eben Upton said demand [...]
Vistry takes £500m hit as new boss downsizes housebuilder
Vistry has taken a nearly £500m hit to its value, as the beleaguered housebuilder’s new chief executive sets out drastic plans to downsize the firm to ensure its survival.
Top marks to Athlos for reimagining athletics and creating that elusive vibe
Generating atmosphere at live sport is no easy feat – and it might not be the one that everyone wants – but Athlos succeeded, writes Ed Warner. Perri Shakes-Drayton was there for it. Luke Littler might stay away because of it. Millwall and West Ham fans create it organically. The average county cricket fan at [...]
FTSE 100 Live: Oil prices rise again; Vistry shares crater
Welcome back to City AM‘s FTSE 100 live blog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines today: Legal & General to cut 1,000 jobs by middle of 2027 Every Lidl helps: German grocer’s owner poised to snap up Tesco stores Ryanair tells Burnham: Slash taxes or we’ll cut UK flights Collagen business founder loses £3.6bn tax battle AI rivals not guaranteed spot on Google search screens under UK plans
Hugging Face hack spells ‘emergency for the City of London’, warns top lawyer
Everything companies have done to prepare for a cyber attack is now “completely old world” following the OpenAI–Hugging Face hack over the summer, a top City lawyer has warned.
You can’t tax a casino if it’s closed
Modern casinos are regulated entertainment destinations that invest in city centres, support skilled local careers and strengthen Britain’s visitor and night-time economy. Tax policy should recognise their full contribution, says Paul Willcock Politicians of every party say they want businesses to invest in Britain, regenerate city centres, create good jobs and attract overseas visitors. Genting is doing [...]
Why wearing a tie could boost your productivity
The House of Lords may no longer require ties, but you should wear one. Yes, even if working from home, says Thomas Jackson New guidance published last week says that while Peers in the House of Lords will still be expected to dress formally, they will no longer need to wear a necktie. The tie [...]
Treasury’s new Head of Growth will have their work cut out
Do you want the good news or the bad news? Trick question, I’m afraid. There is no good news. The Organisation for Economic Co-operation and Development (OECD) has revised its forecast for UK economic growth this year from 0.9 per cent to 1.1 per cent, but – before you reach for the champagne – they’ve also downgraded their forecast for 2027 from 1.1 per cent to just one per cent.
Closing the AI skills gap is an £80 billion opportunity
Smart use of AI could add £80bn in productivity gains to the British economy by 2035, but too few businesses have the workforce to deploy it effectively, says Steve Rigby The daily AI discourse moves between a few regular topics: eye-watering investment in frontier models, soaring compute costs, crippling cyberattacks and the unknowable impact of [...]
What to expect from Andy Burnham at Labour party conference
Andy Burnham’s first conference speech will crown an extraordinary for the former Mayor of Manchester turned Prime Minister, but it’s also the moment he must explain how he will meet the challenges ahead, says Douglas Beattie
How a ‘dismal’ fiscal picture could disrupt the Labour conference
As business chiefs look forward to the Labour Party conference and the ensuing Budget, Maurício Alencar explores how a difficult fiscal backdrop could disrupt meetings and undermine high expectations. In the months leading up to the Budget, hundreds of notes fly through the Treasury’s letterbox. Emails ping on officials’ phones. Lobbyists for academics, retailers, councillors, [...]
Burnham urged to boost West End with tax cuts and extra policing
The West End risks losing its status as one of the world’s best shopping and hospitality destinations without immediate action to cut tax and boost policing, Andy Burnham has been warned. The New West End Company (NWEC), which represents 800 businesses involved in the world-famous district, has urged the government to slash business rates and [...]
AI rivals not guaranteed spot on Google search screens under UK plans
ChatGPT and other AI assistants are not guaranteed a place on Google’s search choice screens under new UK competition rules, City AM understands, despite proposals to open the door to rival services.
Airtel Money boss: This is why we picked London for our float
The boss of Airtel Money has laid out his rationale for selecting London as his chosen venue after the firm unveiled plans for a multi-billion pound IPO that could be Britain’s biggest in years.
Tesco’s slow retreat from Europe is depressing
Working with Tesco can be both a blessing and a curse, a relative of mine, who used to work in wine sales in Australia, recently told me.
Healey urged to cut business costs as consumer confidence slips
Retailers have called on John Healey to slash the “burdensome” costs of doing business at the Budget next month, warning that consumer confidence will continue to stumble without urgent action.
Tory welfare crackdown would ban benefit spending on booze and cigarettes
Scores of benefit claimants would receive their welfare payments on a ‘Back To Work’ card that bans spending on alcohol, cigarettes or betting under plans announced by the Conservatives.
Bentley’s debut EV drives £1bn motoring investment surge in a week
Britain’s automotive industry is set to get an extra £350m of investment as Bentley drives new funding into its headquarters in Crewe to build its first fully electronic vehicle, marking the third major boost in a week for the sector.
Collagen business founder loses £3.6bn tax battle
The founder of a collagen company has lost a battle over a £3.6bn tax bill after a judge ruled his product could not be classified as food and therefore cannot claim VAT exemption. Tony Sanguinetti founded Minerva Research Labs in London in 2009 after he “became slightly obsessed with finding a way to reverse the [...]
Red Bull spent £1.3bn on athletes like Stokes, Verstappen and Neymar in 2025
Red Bull spent £1.3bn on athletes like Ben Stokes marketing its energy drinks last year as the firm reported a jump in sponsorship costs.
Ryanair tells Burnham: Slash taxes or we’ll cut UK flights
The boss of Ryanair has warned Andy Burnham that the budget airline will cut its flight capacity in the UK if the government refuses to drop plans for a “double tax” on tourists.
Legal & General to cut 1,000 jobs by middle of 2027
Legal and General plans to cut 1,000 jobs by the middle of next year as part of a push from chief executive Antonio Simoes to create a “leaner operation”.
Every Lidl helps: German grocer’s owner poised to snap up Tesco stores
The owners of Lidl are among the front runners to snap up dozens of Tesco stores as the British supermarket chain seeks to offload some of its biggest subsidiaries.
Tottenham Hotspur lose another senior off-field figure
Tottenham Hotspur have lost another senior off-field figure after the club’s chief revenue officer jumped ship to MotoGP.
British cybersecurity firm plots £11m Aim float as London IPOs stir
British cyber security firm Chaleit Holdings is set to float on London’s junior market next month, becoming the second company to unveil plans for a City listing on Wednesday as signs of life emerge from the capital’s battered IPO market.
Natwest makes first VC fund bet in push to back British tech
Natwest has made its first direct investment into an independently managed venture capital fund, joining a push by some of Britain’s biggest financial institutions to funnel more domestic money into UK tech companies. The banking giant is investing across top venture capital firm Phoenix Court’s Localglobe, Latitude and Solar funds, which back companies from their [...]
Financial literacy teaches young people to have aspiration, says Barings boss
Financial literacy is crucial to teach young people to have aspiration about their future prospects, a senior leader at one of the world’s biggest investment firms has told City AM.
Is Carney’s European dream pure fantasy?
Canadian Prime Minister Mark Carney is making a bold punt for European "integration", but it risks being a fairytale, writes Tim Focas.
Manchester United losses increase despite Ratcliffe cost-cutting and record revenue
Manchester United have reported a financial loss for a seventh consecutive year despite Sir Jim Ratcliffe’s drastic cost-cutting.
The Debate: Should Borough Market allow franchising?
Bakery Bread Ahead claims it is being booted out of Borough Market for being "too successful" but should the market encourage expansion?
Private equity firm Pollen Street weighs sale
Private equity firm Pollen Street is weighing a sale and has begun talks with potential suitors, the company confirmed today, in what could be the latest of a wave of takeovers to hit the London Stock Exchange this year.
UK to champion global AI rulebook during G20 presidency
Andy Burnham has said governments, not tech companies, must make the biggest decisions about AI, as he pledged to put AI regulation at the heart of Britain’s G20 presidency. The Prime Minister used his first address to the United Nations General Assembly to call for a single set of global standards governing frontier AI, including [...]
Ukraine hits out at EU decision to unsanction former Arsenal owner Usmanov
Ukrainian officials have hit out at a European Union decision to remove former Arsenal co-owner Alisher Usmanov from its sanctions list.
Co-op blames job cuts on Labour national insurance raid
Co-op group has slashed its headcount this year to handle the added costs of Labour’s national insurance raid, its chief executive has revealed, saying the tax hikes had pushed the retailer to invest in more automation.
The business case for international aid spending
UK development spending is good for British business. I know, I've seen it first hand, writes Co-op policy director Paul Gerrard.
On this day: Bruce Springsteen is born
On 23 September 1949, Bruce Springsteen aka ‘The Boss’ was born in New Jersey. His life and music would go on to define post-war America, writes Eliot Wilson The way in which modern rock music developed means that the late 1940s are stuffed full of famous births. Take 1949 alone, and you will find enduring [...]
Debt costs are ‘increasingly crazy’, Burnham ally says
The cost to taxpayers of paying off the interest on UK government debt is “increasingly crazy”, according to a top economist who advised Andy Burnham. Lord Jim O’Neill, the former Goldman Sachs executive who advised Burnham in his run-up to Downing Street, told LBCs Nick Ferrari that debit interest payments far outweighing the defence budget were [...]
UK growth set to slow in 2027, OECD says
The UK economy will grow slower than expected next year as the effects of a long Iran war drag on activity, the world’s leading economic forecaster has said.
Co-op sees funeral boost in hunt for turnaround from cyber-attack
Co-op posted a jump in turnover at its funeral arm, as the member-owned group said it is setting out the foundations to recover from a costly cyber-attack last year.
Airtel Money confirms plans for multi-billion London IPO
Airtel Money has confirmed plans for a London IPO in what would mark one of the London Stock Exchange’s biggest flotations in years.
JD Sports faces ‘tough trading’ as US sales slip
JD Sports has seen revenue and profit slip so far this year, as weak consumer confidence in its key US market drives a “tough trading environment”.
Tottenham Hotspur facing demands from Greens for percentage of revenue
Tottenham Hotspur are facing pressure from Haringey Council leaders to sacrifice a fixed percentage of revenue for residents of Northumberland Park, the seat of their £1bn stadium.
As it happened: FTSE 100 rally fades as oil prices jump
Good morning from the City desk at City AM. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines today: Thousands of jobs at risk as Ineos suspends operations at huge UK chemicals plants Premier Inn owner Whitbread faces board pressure from activist investor RAC slams brakes on blockbuster London IPO Kingfisher shares rocket after B&Q owner lifts profit target ‘Worryingly large’: Labour’s debt cost racks up to £200bn
How AI is forcing the Big Four to rethink graduate training
The Big Four giants – KPMG, Deloitte, EY, and PwC – have for decades played an important role in shaping the next generation of City workers. As one of the largest graduate trainers in the UK, their approach to restructuring graduate programmes in the age of AI will be crucial to the future of financial [...]
I’m an AI investor: here’s why I just deleted Claude
Anthropic’s messianic pronouncements are no longer like a marketing strategy, but a religious playbook, says Lewis Liu I canceled my personal Claude subscription this week and deleted years of work. I don’t object to the technology (I’m an AI investor currently working at the sharp end of its capabilities) but I believe that tone and [...]
Palantir policing pullback driven by funding as eastern pilot pushes on
Palantir’s loss of a five-force policing pilot was driven by a combination of funding pressures and an assessment of the project, City AM understands.
If Brexit is to blame for Britain’s economic woes what’s the EU’s excuse?
The Labour government is blaming Brexit for low growth but ignoring that’s it’s a phenomenon plaguing the EU as well, says Paul Ormerod At the weekend, Bridget Phillipson became the latest leading politician to pin the economic woes of the UK on Brexit. She recognised that youth unemployment will continue to rise but argued that [...]
Frozen tax thresholds hold back Brits for ten miserable years
In March 2021 Chancellor Rishi Sunak described it as “a tax policy that is progressive and fair.” In November 2022, Chancellor Jeremy Hunt extended the policy, describing it as necessary and fair. In October 2024, Chancellor Rachel Reeves announced an end to the policy, saying extending it beyond 2028 “would hurt working people.”
MPs will need courage to cut the welfare bill
Over 100 Labour MPs also have more claimants for mental health conditions such as anxiety, ADHD and autism than their majorities, says Joseph Dinnage The unsustainable expansion of the welfare state is the most important domestic political issue of our time. Britain’s pervasive lack of ambition, dependence, profligacy and idleness are all symptoms of this [...]
Leapmotor B03X: The Small Electric SUV That Makes Sense for London
Leapmotor is aiming at the UK’s increasingly crowded small electric SUV market with the new B03X. With a roomy cabin, generous standard equipment and a £26,995 price tag, can this Chinese newcomer give established rivals a run for their money? If you’re looking for a compact electric SUV, choice is no longer the issue. From [...]
Erling Haaland: Manchester City star credited with carrot sales boom in native Norway
Erling Haaland’s brand power shifted into a new stratosphere at the World Cup – and the proof is in Norway’s carrot sales. Haaland has long appeared in internet clips and memes with carrots dangling from his mouth – while signing autographs for fans or driving his car – and this summer appeared in an advert [...]
Reeves’ ‘ambitious’ £14bn savings plan leaves Healey with a Budget headache
Cost saving measures pencilled in by the last government have dramatically reduced Chancellor John Healey’s ability to look for spending cuts and efficiency gains at his first Budget, economists have warned, raising the prospect of fresh tax hikes. Healey is under pressure to rebuild his £23.6bn fiscal buffer, which is predicted to shrink due to [...]
Debenhams owner faces complaints to data protection watchdog
Few quirks of modern life are so hated as the inability to cancel a subscription. For retail giant Debenhams, that ire could land it in hot water with the UK’s data protection watchdog.
Reform-linked think tank calls for sweeping City deregulation
A Reform UK-linked think tank has called for sweeping tax cuts for investors and an overhaul of regulation in a report that was described by Richard Tice and Robert Jenrick as a “serious contribution” to the UK’s growth debate.
Four out of five top firms have never had a female chief executive, report finds
Four out of five companies across the FTSE 100 and S&P 100 have never had a female chief executive, as boards fail to promote them into positions of power earlier in their career, a new report has found.
Legal AI giant Harvey picks London to lead pro bono push
Legal tech giant Harvey has launched a new programme for law firms to assist with pro bono work as part of a London-headquartered initiative on responsible AI, a location the firm’s chief operating officer told City AM was chosen because the City serves as “an epicentre for the legal market.”
RAC slams brakes on blockbuster London IPO
The RAC has slammed the brakes on its £5bn London listing in favour of a private deal, landing another blow against the UK’s ailing public markets.
Pollock joins Haaland on YouTube after bumper new Saints deal
Henry Pollock is following the Erling Haaland blueprint for stardom by joining YouTube having signed a bumper new contract at Northampton Saints.
First look: Quaglino’s rebirths ’90s golden era with revamp
City AM was first to experience the new look Quaglino’s, the legendary St James restaurant where the late Queen celebrated her marriage, which has been revamped ahead of its hundredth birthday How about a chocolate cigar, or even a chocolate ash tray? These are two of the unusual desserts available at the newly revamped Quaglino’s, [...]
Jersey Mike’s becomes EFL Trophy super-sub as sandwich chain serves up UK launch
Jersey Mike’s may not yet be a household name in the UK but the US sandwich chain hopes to change that by becoming the latest sponsor of the EFL Trophy.
Have faith in Dalo and Djan to land field Cam
THERE is a feast of action to get stuck into from Newmarket this week, with two Group One contests and the deeply competitive Cambridgeshire Handicap (3.40pm) headlining the bill on Saturday afternoon.The Cambridgeshire boasts the largest maximum field size of any Flat race in the UK with 35 slots up for grabs, which is the [...]
Take Orthodox approach in wide-open Middle Park
PUNTERS can put a line through ORTHODOX’S disappointing effort in France and should back him to return to winning ways in Saturday’s Group One Middle Park Stakes (3.00pm) at Newmarket.Clive Cox’s son of Havana Grey was beaten in the Prix Morny at Deauville last time, but there were excuses for that effort, with the testing [...]
FC Barcelona debts set to surpass €2bn after fresh Camp Nou loan
FC Barcelona’s debts are set to surpass €2bn after the club’s owning members sanctioned a mega €500m loan to help finally complete reconstruction of their Camp Nou stadium.
Mercedes rides the AI Wayve with self-driving deal
Mercedes-Benz will put British start-up Wayve’s self-driving technology into its cars within two years, handing the London AI firm its third major production deal in less than nine months.
AJ-Fury boxing fight won’t impact Cardiff Champions Cup rugby game
Cardiff Rugby’s Investec Champions Cup match against Bath Rugby will not be moved even if it clashes with the blockbuster fight between Anthony Joshua and Tyson Fury.
Burnham adviser slams ‘growth in every postcode’ pledge
Andy Burnham’s pledge to deliver “growth in every postcode” will result in “wasted taxpayer money and create political problems”, according to one the PM’s most valued economic advisers.
London rakes in record fees from overseas demand for legal services
London is leading the charge of the British legal sector’s overseas exports which surged by 60 per cent over the past five years, hitting a record of almost £11bn, new data has revealed.
Rothschild aiding bid to take Formula 1 to South Africa
Investment bank Rothschild is working with a consortium on a £300m bid to see Formula 1 return to South Africa for the first time since 1993.
OpenAI and Anthropic summoned to parliament as AI fears grow
OpenAI, Anthropic, Google Deepmind and Meta have been summoned to an urgent parliamentary hearing on AI safety, as MPs warn Britain’s rules around the technology are “not yet fit for the future”. Liam Byrne, chair of the Business, Innovation, Science and Trade Committee, has invited senior representatives from all four AI giants to appear before [...]
Burnham: Rejoin EU debate ‘for another day’
Andy Burnham has refused to rule out launching a bid for the UK to rejoin the EU, saying the debate is “for another day.”
Premier Inn owner faces board pressure from biggest investor
Whitbread’s biggest shareholder is demanding a seat on the board of the Premier Inn owner after voicing “growing concern” with the firm’s turnaround plans.
How inheritance tax is becoming a ‘bill for ordinary households’
Inheritance tax receipts have hit a new high as frozen thresholds and rising property values drag more households into the tax net.
Thousands of jobs at risk as Ineos suspends operations at huge UK chemicals plants
Thousands of jobs have been put at risk after Ineos suspended operations at three of the UK’s biggest chemicals plants, as owner Jim Ratcliffe took aim at “ridiculously high” energy prices in the UK.
Claire’s Accessories administrators hand creditors nearly £10m bill
The administrators of collapsed jewellery retailer Claire’s Accessories have billed nearly £10m for their work, with bosses charging more than £1,500 per hour.
Burnham and Trump strike UK-US defence AI deal
Britain will link its military AI taskforce with its US counterpart under a new defence pact, deepening transatlantic tech ties as AI plays a growing role on the battlefield.
Prem Rugby announces record deal with key partner
Prem Rugby this morning announced a record deal with ball provider Gilbert that took their partnership beyond 30 years.
Labour’s debt cost stacks up to £200bn
More than £200bn has now been spent on covering government debt since Labour came into power, official figures show, reflecting the pressure bond traders have put on public finances in the last two years. Analysis of public finances data by City AM shows that debt interest payable to the government’s lenders in bond markets since [...]
B&Q sales slip but owner Kingfisher lifts profit target
Home improvement group Kingfisher has lifted its profit target despite seeing summer heatwaves push down sales at B&Q.
Healey misses targets as UK government borrowing overshoots
Chancellor John Healey has missed key targets on government borrowing ahead of his inaugural Budget after the UK borrowed more than economists forecast in August.
Apple unveils 600 capacity music venue in London - see pictures
Apple is launching a new music venue in London with space for 600. The venue near Battersea Power Station has not yet revealed an opening date, but promises to connect fans and artists through intimate shows. The venue will have views towards the river and the Battersea Power Station and will cater to seated and [...]
FTSE 100 Live: B&Q owner Kingfisher results, public sector net borrowing
Good morning from the City desk at City AM. Follow along here for all our coverage of the latest London Stock Exchange updates along with UK business news and analysis of the key trends shaping investor sentiment. Here’s a summary of some of our top headlines from the past 24 hours: Burnham to meet Trump amid Iran war’s inflation spike JD Sports launches in Mexico amid North American slowdown HSBC to lose £17m in Brewdog collapse City watchdog begins legal action against loan notes firm Hunter Jones
Up for the cup: Chelsea captain Erin Cuthbert on her coffee side hustle, Ruby Alba
Being captain of the team that has won the Women’s Super League eight times in the last decade might be enough to keep most people busy, but not Chelsea’s Erin Cuthbert. Off the pitch, Cuthbert has her own coffee business, Ruby Alba, which she launched earlier this year in order to satisfy her entrepreneurial cravings [...]
The boardroom has a crisis communications blind spot
Communication is the bedrock of effective crisis management. It is the golden thread which should run throughout: shaping how events and decisions are understood, and fundamental to whether trust is maintained or lost, says Katherine Sykes We live in a world of global instability and complex interdependency, facing interconnected threats. Poly- and perma-crisis now define a [...]
Nscale vows stay in UK despite £35bn US stock market listing
Nscale has vowed to keep Britain at the heart of its global expansion despite choosing New York over London for its blockbuster float, as the AI infrastructure firm looks to turn its UK base into an export hub for computing power. The Nvidia-backed firm believes jobs and expertise built in Britain can serve customers around [...]
Germany’s politics have become unsustainable
German Chancellor Merz and the CDU face a severe political crisis following disastrous state election results and plunging approval ratings, says Helen Thomas “It was a disaster” said German Chancellor Merz after the results of two key German elections. If anything, that was an understatement. The CDU suffered the humiliation of falling below the five [...]
Why the Revolut impersonation hack should be a wake-up call for the city
The fact that a company as established as Revolut fell victim to such an attack underlines the threats facing financial services firms, says Graeme Stewart Who am I really talking too? That’s the uncomfortable question that is on everyone’s lips following reports that Revolut has been hit with a $3m ransom demand after a sophisticated impersonation scam. Indeed, the [...]
Will our fiscal psychodrama never end?
I’m sure it wasn’t always like this. There was a time, really not that long ago in the grand scheme of things, when trying to predict the contents of an upcoming Budget was limited to dedicated policy wonks and Westminster’s most dogged journalists. These days, fiscal speculation is a major occupation for several months of the year.
Brexit has held back investment for a generation
An “Investable Britain” requires a stable and competitive tax environment, regulatory clarity, dynamic capital markets, and a long-term growth strategy capable of supporting companies from early-stage innovation through to global scale, says Sarah Olney
Finance chiefs lobby Healey to protect City from tax grab
City chiefs have warned against a tax grab on financial services and called on ministers to simplify Britain’s “byzantine” tax system, as fears mount that the Chancellor will use his maiden budget next month to launch another raid on the private sector.
Business rates cut will ‘backfire’ for Soho and West End
John Healey’s plans to deliver an emergency tax cut for high street businesses would fail to boost most firms in London’s busiest areas like Soho and the West End, analysis suggests. The Chancellor is reportedly planning to cut taxes for pubs, shops, cafes and restaurants by hiking the threshold for small business rates relief (SBBR). [...]
The Greenland question has been settled – now what?
Now the Greenland deal has landed, it is worth taking stock of how we got here and what Burnham should aim for next, writes Michael Martins.
How mansion tax changes could triple the number of payers in suburban London
When she introduced the measure in her October Budget, then-Chancellor Rachel Reeves told MPs her new mansion tax would “deal with a longstanding source of wealth inequality in our country.” Reeves promised that the new levy, set to cost as much as £7,500 for the highest-value homes, would raise more than £400m and would affect [...]
Ban non-compete clauses to ‘boost Britain’s fastest growing firms’
Rising hiring costs and difficulties recruiting talent are making it harder for Britain’s most promising companies to grow, with three quarters saying they could create at least 10 per cent more jobs if barriers to expansion were removed.
Davey calls for AI ‘pause’ as Burnham inks US-UK tech deal
Liberal Democrats leader Sir Ed Davey has called for the government to spearhead a treaty that would “press pause on super-intelligent AI” just as Andy Burnham unveiled a deal with President Trump to advance engagement on the technology.
Fast fashion copyright battle continues as Shein granted appeal against Temu
Fast fashion retailer Shein has been granted permission to appeal against rival Temu in a first-of-its-kind copyright battle in the UK.
‘Less allegation’: Brewdog hits out at former owners
Brewdog’s new owners have sought to distance the company from its founders James Watt and Martin Dickie with a new campaign that pledges the controversial brewer will be “run properly” and attract a “little less allegation”. The craft beer firm, which is now owned by US cannabis firm Tilray, has launched a multi-million pound campaign [...]
Tech the only bright spot as job security fears climb to highest level since 2023
Job security for British workers has fallen to a three-and-a-half year low across all sectors other than IT and telecoms, according to new data from S&P Global’s UK consumer index.
How does a brand agency build a league identity from scratch?
Brentford’s Gtech Community Stadium will be centred around a different kind of ball on Thursday when the Ultimate Sevens rolls into town for its inaugural finals day.
Burnham to meet Trump amid Iran war’s inflation spike
Andy Burnham is set to meet President Donald Trump face-to-face for the first time against the backdrop of the Iran war pushing inflation up to above four per cent within months. On his trip to the United Nations General Assembly in New York, Burnham will meet Trump and several other world leaders. Burnham’s meeting with [...]
OpenAI’s rogue AI acted ‘like uni students after too many beers’
The rogue AI agents behind OpenAI’s unprecedented Hugging Face cyber attack behaved like “university students who’ve had too many beers”, a cyber expert told City AM, saying the breach was more a triumph of persistence than intelligence. Charl van der Walt, global head of security research at Orange Cyberdefense, said that despite the alarm triggered [...]
Premier League front-of-shirt sponsorship revenues rise to £444m
Premier League clubs’ front-of-shirt sponsorship revenue has risen eight per cent to £444m despite implementing a voluntary ban on gambling firms.
City watchdog begins legal action against loan notes firm
The City watchdog has begun High Court proceedings against a loan notes firm and its chief executive, according to court filings, amid growing scrutiny of the high-risk instruments and their availability to retail investors.
Tony Blair warns leaders to resist growing AI ‘techlash’
Tony Blair has warned governments against bowing to a growing “techlash” over AI, arguing that slowing adoption could leave countries poorer and less secure as concerns over the technology mount. A report from the Tony Blair Institute (TBI), published on Monday, said political leaders in the US and UK were facing growing pressure to hold [...]
A tourist tax will be bad for all business, not just hotels
Increasing the cost of hotel rooms and Airbnbs is not just a blow to the hospitality sector, it will hammer all businesses, argues James Ford.
Treating London and Manchester as rivals is absurd
London's dominance is presented as a whirlpool, greedily sucking in talent from other regions. But London's growth aids Manchester, Birmingham and beyond.
Property tax uncertainty causes London luxury rents to soar
Uncertainty over how the government might shake up property taxes at next month’s Budget is contributing to huge increases in the cost of renting a luxury house in London.
GOV.UK founder warns Britain is ‘dangerously dependent’ on foreign AI
Britain risks becoming “dangerously dependent” on a handful of foreign tech companies as AI spreads through businesses and public services, the founder of GOV.UK has warned. Mike Bracken, who founded the Government Digital Service and led the creation of GOV.UK, said organisations were steadily giving up control of critical systems as they turned to external [...]
Three amazing hotels and restaurants to visit in Lisbon
Discover three Lisbon stays – Tarabel, ME Lisbon and Locke de Santa Joana – pairing distinctive design with standout dining. Plan your visit.
Easyjet and British Airways criticise air traffic control operator on fresh flight chaos
Easyjet and British Airways have questioned the resilience of the UK’s air traffic control system as British airports face another day of delays and disruption following a system failure earlier this month which grounded more than 2000 flights across the country.
The battle to be the next Mayor of London has already begun
While Sadiq Khan mulls his future James Cleverly and Reform’s Laila Cunningham are vying for votes in a traditionally Labour city, says Eliot Wilson When politicians often congratulate themselves on surviving until the weekend, voters can be forgiven for losing our long-term perspective. The next election for the Mayor of London will take place on [...]
Reynolds, Mac and Apollo buy Wrexham pub
Ryan Reynolds, Rob Mac and Apollo Sports Capital have purchased a pub in a move that expands Wrexham AFC’s footprint.
Sadiq Khan’s plan for London housing is detached from reality
Sadiq Khan’s draft London plan will not deliver the housing or infrastructure London badly needs, says Thomas Turrell
Strong defence is the foundation of prosperity
The City’s success and status as a global financial hub rests on the foundations of stability, rule of law and security. So the City should show its support however it can and we’re glad to play our own part, says Susan Langley This year’s Strategic Defence Review shone a spotlight on a question we can [...]
Fery reveals tennis Player Council ambitions as he gets Laver Cup call-up
British tennis star Arthur Fery has revealed his ambition to join the sport’s burgeoning player power movement after capping a breakthrough season with a Laver Cup call-up.
Wrexham and Atletico Madrid owner Apollo nears Yankees stake in $12bn deal
Apollo Sports Capital is expanding its portfolio by adding a minority stake in the New York Yankees to its investments in Atletico Madrid and Wrexham AFC.
Lloyd’s backs £40m transactional risk MGA targeting private capital
Syndicates of the world’s leading insurance and reinsurance market, Lloyd’s of London, have agreed to provide up to £40m of risk capital per policy to back a new managing general agent in the City with a focus on the private capital sector.
JD Sports launches in Mexico amid North American slowdown
JD Sports has announced plans to open more than 140 shops in Mexico, as the ‘King of Trainers’ battles to halt falling sales and move on from a recent boardroom bust-up.
FTSE 100 Live: Stocks to gain as oil prices slip
Welcome back to City AM’s FTSE 100 liveblog. The UK’s blue-chip index is set to fall on Monday morning, according to futures from investment platform IG. This would see the FTSE 100 extend the heavy losses it suffered on Friday, when the index closed 1.5 per cent lower. Falling oil prices pushed down BP and Shell, while Airtel Africa slumped by more than 11 per cent after it emerged that the floatation of its payments arm, Airtel Money, had been scaled back.
Scotch is missing its Can-Do spirit
Last Saturday’s FT covered the industry’s current woes in depth. ‘Scotch whisky’s hangover’ is a sobering read, and yet other spirits are suffering as much, if not more. The one category bucking the trend is spirit-based RTDs, a category that Scotch has been slow to enter. Ron Emler investigates for City AM’s Whisky Business. A [...]
The return of VAT-free shopping will boost Britain’s towns and cities
Britain has so much to offer. It is no surprise that more than forty million overseas visitors choose to visit our country every year.
XPeng G6 vs Tesla Model Y, which is worth your money?
The XPeng G6 is taking on the Tesla Model Y with a lower price, rapid charging and plenty of technology. But is it actually the better electric SUV? The XPeng G6 and Tesla Model Y are competing for much the same buyer, but they go about it in rather different ways. Both are electric family [...]
London cannot afford an ‘Autumn of Discontent’ of Tube strikes
The RMT has voted for further Tube strikes because TfL has offered them the wrong kind of four day week. It's normal Londoners that suffer.
Energy costs and rate hikes to weigh on growth
The UK economy is forecast to grow in 2026, but rising energy bills and higher borrowing costs will weigh on activity in the second half of the year.
Businesses welcome Tory pledge to restore tax-free shopping
Top UK business leaders have welcomed Tory plans to bring back tax-free shopping for overseas visitors if they reenter government in a bid to end the tourism shopping slump.
British tycoons raise the alarm over state of UK economy
Two of Britain’s wealthiest business chiefs have launched fierce criticism against government policies and the health of the UK economy. Billionaire energy boss Sir Jim Ratcliffe and gambling entrepreneur Fred Done have separately warned about the state of the economy and direction of policy in the past 48 hours. In particular, the business chiefs claimed [...]
Labour mansion tax raid to hit homes worth £1.5m
The government is considering plans to lower the mansion tax threshold to properties worth over £1.5m, a move that would hit nearly 300,000 homes.
Nscale files for $35bn US listing
Nscale has filed for an initial public offering in the US, as it looks to tap into AI’s demand for computing infrastructure.
What losing athletics to Nairobi tells us about future World Cup and Olympic bids
England winning a World Cup in our lifetime. This may appear as elusive as ever, but hosting it may be more achievable. Particularly given our stadia, infrastructure and track record for hosting major global events. The signals from Downing Street suggest a similar plan. There’s talk of a potential 2042 World Cup in Great Britain, [...]
Sydney Sweeney Novig ad backlash shows how much women’s sport has changed
Top female athletes took control of the conversation around Sydney Sweeney and her ad for Novig, and that is the bit we should pay attention to because it represents real change, writes Matt Readman. A few years ago, I co-authored a report called The Seven Deadly Sins of Marketing Women’s Sport. The idea was to [...]
Drone strikes and noise disputes: The soaring risks of the global data centre boom
As data centres scale, consume more power, and draw tighter community scrutiny, insurance risks are becoming increasingly complex.
City watchdog targets London crypto traders in latest clampdown
The City watchdog has targeted three London premises suspected of illegal peer-to-peer crypto trading as it increases its scrutiny of digital assets.
Labour warned UK at risk of foreign tech giants ‘pulling the plug’
Labour has “no plan” if foreign technology companies or governments cut Britain off from systems underpinning critical services, the Liberal Democrats have warned, after ministers acknowledged the risks posed by the UK’s reliance on overseas tech. Victoria Collins, the Lib Dems’ tech spokesperson, accused the government of handing “contract after contract to foreign tech oligarchs” [...]
Howard Buffett to succeed father Warren as Berkshire Hathaway chair
Berkshire Hathaway has named Howard Buffett as chair as his father Warren Buffett steps down after six decades at the helm of the conglomerate.
US law firms outpace London rivals in race for larger City offices
American law firms with offices in the City are taking up more space than London firms as they push to aggressively expand, according to new data from estate agent Knight Frank.
Kylian Mbappe receives shares in On as he jumps ship from Nike deal
Swiss sportswear brand On has pulled off a marketing coup by luring Real Madrid and France striker Kylian Mbappe from Nike to launch its football products.
XPeng G6: The Electric SUV with Business Appeal
The Tesla Model Y may still dominate conversations in Canary Wharf car parks and City office charging bays. Still, a growing number of Chinese manufacturers are arriving with serious ambitions – and considerable technology, writes our motoring journalist Tim Barnes-Clay. XPeng is one of them. The Chinese EV marque officially entered the United Kingdom in [...]
What is Polestar’s Formula 2030, and why does it matter?
Polestar will reveal its Formula 2030 concept in October, previewing the next Polestar 2 and Polestar 7 as the Swedish-Chinese EV maker looks to grow sales and move towards profitability. This is the first clean-sheet design produced under design chief Philipp Römers, who joined Polestar in January 2025, and it will preview two of the [...]
Summer of sorrow: Property sector bears brunt of August administration spike
Nearly 2,000 businesses went into insolvency in August as economic pressures and ongoing geopolitical tensions weighed on British firms.
Rishi Sunak calls on PM Andy Burnham to restore £35m pledge for cricket domes
Former Prime Minister Rishi Sunak has urged current PM Andy Burnham to reinstate the £35m funding commitment to building all-weather “cricket domes” he made when he was in No10.
Former Labour deputy joins Palantir as tech giant targets UK growth
Former Labour deputy leader Tom Watson has joined Palantir as a senior vice president as the US tech firm looks to expand its work with the British government while facing mounting scrutiny over its public sector contracts.
Tories consult senior barrister over ‘outrageous’ Wandsworth tax hike
Kemi Badenoch has said the Conservative party has consulted a senior barrister to challenge the government over local funding cuts, following the recent controversy over looming tax hikes at Wandsworth Council.
Addison Lee founder defeated in £20m non-dom tax dispute
The founder of premium minicab firm Addison Lee has failed to overturn a £20.5m tax fight with HMRC after arguing that he should be treated as a non-dom in spite of having lived in England for most of his life.
China’s EV brands are all over sport in the west. Why?
Electric vehicle brands from China are snapping up sport sponsorship opportunities across the west. Matt Hardy asks why.
Putney Pusher suspect’s sisters slam Met: ‘Our bother was innocent’
The sisters of the millionaire banker accused of being the ‘Putney pusher’, have insisted upon his innocence while hitting out at the Metropolitan Police’s handling of the investigation.
Chelsea and Tottenham Hotspur criticised for unlicensed gambling deals
Clubs including Chelsea and Tottenham Hotspur have been criticised for doing deals with unlicensed gambling firms as the government continues a consultation on banning such organisations from sponsoring sport.
How has Bank of England changed its bond sale programme?
The Bank of England chose to hold interest rates at 3.75 per cent on Thursday. But its unexpected overhaul of quantitative tightening could be far more consequential, says Ali Lyon. On days when the Bank of England’s Monetary Policy Committee decides the future of interest rates, that choice – and the thinking that goes into [...]
Nationalise Thames Water and block private rescue deal, MPs tell Burnham
Andy Burnham and his government are facing increasing pressure to take control of Thames Water after a group of MPs warned a rescue deal led by its creditors should be rejected.
Ignorance is no excuse for Labour’s economic failures
John Healey is copying Rachel Reeves’ technique of gaslighting the nation into thinking he had no idea what the bind markets and OBR have been screaming at every fiscal event, says Tom Harwood
On This Day: Scotland says “nae thanks” to independence
On 18th September 2014, Scotland voted against 55 per cent to 45 per cent against independence in a referendum that was supposed to settle the question for a generation, writes Eliot Wilson It is firmly within my lifetime that the idea of Scottish independence was a harmlessly quirky cause on the fringes of politics. After [...]
Investec’s South Africa surge offsets cooling UK performance
Investec doubled down on its full-year targets today after a surge in activity in South Africa helped offset a slump in the UK.The FTSE 250 lender projected earnings per share to land between 41.7p to 43.3p, a three per cent to seven per cent rise from the prior year.The growth projection was largely fueled by [...]
Nestlé vows to protect Russian operations despite Putin takeover
Nestlé has vowed to protect its Russian business after Vladimir Putin placed the food giant’s operations in the country under external administration.
British retail sales defy forecasts with surprise August rise
UK retail sales unexpectedly rose in August, defying forecasts of a decline. Despite renewed pressure from higher fuel prices, hot weather drove a strong rebound in both online shopping and department store sales.
FTSE 100 Live: Stocks slip as rally loses momentum
Welcome back to City AM‘s FTSE 100 liveblog. Oil prices have continued to slide for a third consecutive day as concerns eased over widespread disruption to Saudi Arabian oil supplies. Brent prices fell beyond one per cent to $103.34 overnight to put them on track for their first weekly loss in three weeks. Markets have [...]
Working from home ‘more important than pay’ among top managers
Flexible working arrangements are one of the main reasons managers stay in their jobs, according to new research from the Chartered Management Institute (CMI).
Is Henry Pollock’s biggest problem Eddie Hearn?
Henry Pollock’s first few months with Eddie Hearn’s Matchroom Talent Agency has felt less like a commitment to rugby union – and reaching the heights within the sport – and more like a scattergun approach to marketing a player in a way rugby players hadn’t experienced before. Except they have.
Cristiano Ronaldo can cash in from Saudi Pro League streaming initiative
The Saudi Pro League is giving Cristiano Ronaldo another way to top up his £170m salary by incentivising players to promote livestreams of matches via social media.
Borrowing costs fall after Bank ‘surprises’ markets with bond sale change
The government’s borrowing costs fell on Thursday, after the Bank of England voted to hold interest rates and chose to end its long-term gilt sales in a major overhaul of its bond sale programme. The yields on both short- and long-term government bonds fell in the aftermath of the decision, as traders pared back bets [...]
Month-old Deepmind spinout nears $4bn on ‘future capability’ bet
A British AI startup founded just last month by three former Google Deepmind researchers is nearing a $4bn (£2.9bn) valuation – despite having no product or website.Emulate is in advanced talks to raise as much as $700m in a seed funding round led by Index Ventures and Lightspeed Venture Partners in a deal that would [...]
Celtic and when does financial prudence become sporting underinvestment?
By most conventional measures, Celtic should be a model of how to run a football club. According to the club’s latest accounts, Celtic generated £143.6m of revenue and £33.9m of profit after tax, while finishing the year with £77.3m in cash. Shareholders have benefited too. According to FactSet, Celtic shares have appreciated approximately 153 per [...]
Next boss Wolfson warns Chancellor against spending to fix the economy
Lord Wolfson, Next’s chief executive, has urged Chancellor John Healey to cut spending at next month’s Budget, warning, “you can’t spend your way out of a funding crisis”. The retail boss has urged the government to clamp down on spending, avoid further tax hikes and slash planning red tape to boost economic growth. He told [...]
Family of suspected ‘Putney pusher’ hit out at Met Police ‘pressure’
The family of the multi-millionaire banker accused of being the ‘Putney pusher’ have hit out at the Metropolitan Police over his death, insisting on his innocence.
Why it could now cost more to sack an executive in the UK than FRANCE
Labour’s overhaul of employment rights, particularly the removal of the unfair dismissal compensation cap, could leave British businesses facing a higher bill for dismissing executives than their European counterparts.
Beauty Tech shares glow as boss brushes off ‘cheap’ rivals
Beauty Tech Group boss Laurence Newman has brushed off competition from ‘cheap beauty devices’ after the London-listed firm more than tripled its first-half profit. Shares in the owner of Currentbody Skin rose more than 13 per cent to 395p on Thursday after revenue climbed 44.3 per cent to £79.7m in the six months to June. [...]
‘We prefer the US’: Revolut confirms plan for dual US-UK listing
Revolut founder Nik Storonsky has confirmed that the bank is exploring a dual listing in New York and London, adding that he “prefers” the US market.
Musk skips King’s AI safety summit with world’s biggest tech chiefs
King Charles will warn some of the world’s most powerful AI companies against letting humanity “lose control of our destiny” on Thursday, as he brings tech bosses together in Scotland amid escalating warnings about the new technology. The King will host executives from Nvidia, OpenAI, Anthropic and Google Deepmind at Dumfries House in Ayrshire to [...]
Bank of England HOLDS interest rates and overhauls bond sale programme
The Bank of England has kept interest rates on hold at a sixth consecutive meeting, but warned that they were likely to rise at future meetings unless the threat to energy markets posed by the Iran war begins to ease. The central bank’s Monetary Policy Committee voted six to three to leave rates unchanged, in [...]
Major development in £3bn project backed by Crystal Palace owner Blitzer
Co-owner of Premier League club Crystal Palace, David Blitzer, is part of a group that has announced a major update to a £3bn stadium development. The American businessman, who became an early multi-franchise investor and was one of the first people to hold stakes in all five big North American leagues – NHL, MLB, MLS, [...]
‘Hound of Hades’ private equity firm pursues Aldermore
Private equity firm Cerberus has teamed up with Warburg Pincus on a joint bid for alternative lender Aldermore, City AM can reveal, in a sale process that could value the company at more than £1.4bn.
LVMH’s Arnault joins Nike board as sportswear giant set to lose S&P 100 spot
The son of LVMH billionaire Bernard Arnault has been appointed to Nike’s board of directors a week after it was announced the sportswear giant will lose its S&P 100 spot.
Barclays staff revolt against tightened work from home policy
Barclays is facing growing backlash from its own staff over a decision to tighten its home working policy.
Federal Reserve earns rebuke from Trump after interest rate hike
Kevin Warsh’s Federal Reserve has raised interest rates for the first time since 2023 and effectively pencilled in another hike this year, defying President Trump’s demands for looser monetary policy.
Beauty Tech Group profit triples as LED masks boom
The Beauty Tech Group has more than tripled its first-half profit as booming demand for at-home beauty devices helped sales jump more than 40 per cent.The London-listed owner of Currentbody Skin, ZIIP Beauty and Tria Laser reported pre-tax profit of £17.5m for the six months to the end of June, up from £5m a year [...]
Next lifts profit targets as retailer beats forecasts again
Next has lifted its profit target again following “much better” than expected trading in the first half of the year as the retailer continues to defy fears of inflation and a slowdown in consumer spending.
Who owns Chelsea after £950m Boehly and Walter stake sales?
Todd Boehly and Mark Walter have sold their combined 25 per cent stake in Chelsea in a deal that values the Premier League club at £5bn.
Ultimate Championships delivered but can China at the 2027 Worlds?
China didn’t feature much at the Ultimate Championships and Ed Warner questions whether they can at a home World Championships in 2027. “I might get told off. I just did a race, so I’m allowed to drink what I would like. Thank you so much,” said Lando Norris as he reached for a Coke after [...]
FTSE 100 Live: Stocks jump after Bank of England holds rates
Welcome back to City AM‘s FTSE 100 liveblog. The UK’s blue-chip index is set to drop on Thursday morning, according to futures from IG. Investors on both sides of the Atlantic are bracing for crunch interest rate decisions, as fears over surging energy prices, artificial intelligence and government debt are coming to a head. The [...]
Why are the AI chiefs calling for a slowdown?
Questions about why these titans are now speaking out have been swirling through the City all week, and the possible explanations are all quite juicy.
James Watt: Andy Burnham blames everyone but himself for the NEETs crisis
Telling young people they’ve been let down by ‘the system’ is a narrative of despair that removes all agency from young people. If Andy Burnham really wants to help NEETs he should get out of employers’ way, says James Watt Andy Burnham’s recent comments about the growing number of young people not in education, employment [...]
In defence of Ealing Broadway’s ‘calm space’
The arrival of an unlit hut at Ealing Broadway has naturally been the source of ridicule, but there is some sense behind it, says design expert Sophie Maxwell Brown
Aldermore’s sale interest shows banks are over motor finance
Lloyds, Nationwide and Investec are all tipped to be circling Aldemore as its South African over prepares a sale. Samuel Norman takes a look at the runners and riders and what it could do for the market. Has the banking industry finally moved on from motor finance? The number of suiters circling Aldermore suggest as [...]
Loveholidays CEO: Travel is no longer discretionary, it’s an essential part of people’s lives
Each week, we dig into the memory bank of the City's great and good. Today, Loveholidays CEO Donat Rétif takes us through his career.
Britain needs tax devolution, but beware of fiscal war
Britain is an outlier for tax centralisation, but devolution can go badly wrong, says Tim Sarson Last week government front benchers and local leaders from across England got together at Number 10 North to discuss the details of a new Visitor Levy, or tourism tax. Quite a momentous moment in its own way, because this [...]
Battersea Power Station rules out building NBA Europe stadium
Battersea Power Station chiefs have categorically ruled out suggestions that London’s NBA Europe team could build its home basketball arena on the site.
Natwest chair: Boost investment or risk ‘inter-generational crisis’
The chair of Natwest has warned the UK is in a “moment of national crisis” that can only be fixed by firing up investment in the country’s flagging economy. Rick Haythornthwaite, the City grandee who has also chaired the boards of Mastercard and Ocado, told City AM that years of political instability and poor decision-making [...]
Andrew Griffith tells Burnham to rule out Budget tax rises
Shadow chancellor Andrew Griffith will urge Labour to rule out further tax rises on businesses at next month’s Budget, as the Conservatives set out plans to cut the compliance burden facing small firms and the self-employed. In his first major speech since taking the role, Griffith will call on Andy Burnham and chancellor John Healey [...]
Inside tongue-in-cheek bar The Pregnant Man
The Pregnant Man is celebrating a decade this January. But there may well be celebrations before their birthday as they are one of the finalists for the Best Bar gong at our Toast the City Awards.
Former Anthropic researcher behind ‘AI could kill us’ warning called to UK parliament
Former Anthropic researcher Jacob Coxon has been invited to give evidence to parliament following his stark warnings over the threat posed by AI, City AM understands. Liam Byrne, chair of the Business, Innovation, Science and Trade Committee, told City AM that MPs have asked Coxon to appear as part of a parliamentary examination of AI [...]
Tribunal thumbs up £260m legal settlement against Google
A UK specialist court has greenlit a £260m settlement in a class action against Google’s parent company, Alphabet, following an agreement last week.
London Tube exhibition has paintings of railway ghosts
The ominous presence of a ghost at Bethnal Green Tube station, a melange of colour left behind from torn off posters at Bank and burly rain clouds cloaking Three Colts Lane. These are sights featured in the paintings in Jock McFadyen with Jem Finer’s Underground (and Surface) Exhibition now showing at the Guildhall Art Gallery. [...]
Gore Street Energy narrowly defeats Saba’s wind down vote
Gore Street Energy Fund has survived an attempt by activist hedge fund Saba Capital to wind it down at its latest annual general meeting, after investors narrowly voted against its discontinuation.
Banker suspected of being ‘Putney pusher’ found dead
A multi-millionaire banker who was suspected of being the ‘Putney pusher’ has been found dead in his home just three months after being arrested.
Burnham considers giving mayors ‘control over water companies’
Prime Minister Andy Burnham plans to create nine regional bodies led by mayors that could bring water companies under public control.Under the proposals, regional leaders would sit on boards alongside public health officials, customers and environmental campaigners. Alongside setting company objectives, it is understood the boards will collect customer feedback through consultation mechanisms modelled on [...]
Home secretary donor reprimanded by accountancy regulator
An accountancy firm director who donated to home secretary Shabana Mahmood has been severely reprimanded by the accountancy regulator for breaching accountancy standards.
British AI firm Synthesia warns ‘sci-fi’ fears risk choking UK tech
British AI firm Synthesia has warned that “sci-fi” fears over AI could lead to poorly designed regulation, as pressure grows on ministers to toughen the UK’s AI rules. Alexandru Voica, head of corporate affairs and policy at the London-based AI video company, told City AM there was “no evidence” for claims that AI was already [...]
Marks and Spencer shares slide as investors brace for inflation hit
Shares in Marks and Spencer have taken a dip as investors fear that rising inflation will push shoppers away from the upmarket grocer and towards its budget rivals.
Santander and BMW in High Court spat over motor finance dispute
Santander, Volvo and BMW are heading to the High Court regarding a bustup over motor finance agreements from an insolvent dealership.
Parachute payments boost promotion chances by 4x and should be scrapped, study finds
Parachute payments make clubs four times more likely to achieve promotion to the Premier League and should be scrapped, according to a new study.
Burnham warns of ‘challenging’ Budget after ‘TikTok socialists’ jibe
Andy Burnham has warned Brits to expect a “challenging” Budget as he hit back at his former adviser for accusing him of being a “socialist with better TikToks”.
Exclusive: EuroLeague CEO ‘open’ to NBA investment talks but yet to receive an offer
EuroLeague Basketball chiefs are expecting a takeover approach from the NBA that would see the two organisations collaborate on a new European basketball league.
How The Light Gets In founder: Everyone’s a philosopher
How The Light Gets In festival is on Hampstead Heath this Saturday and Sunday What’s the biggest taboo in British society? “Interesting,” says Hilary Lawson, founder of How The Light Gets In philosophy and ideas festival, which takes place in London this weekend. These are the sorts of questions posed at the event, which also [...]
Has Apple accidentally made the perfect phone for old people?
Has Apple accidentally built an age-tech device without calling it one, asks Paul Armstrong after the release of the first foldable iPhone.
The Debate: Should the City drop its ban on tower logos?
A 1911 ruling by the City of London Corporation means businesses are still unable to adorn their skyscrapers with logos. Should this change?
Mike Ashley tightens grip on Hugo Boss as son-in-law made chair
Mike Ashley has tightened his grip on Hugo Boss after his son-in-law, the boss of Frasers Group, was made chairman of the German fashion house. Frasers, which Ashley founded as Sports Direct, has been vying for control of Hugo Boss for months, resulting in him toppling the chairman of its supervisory board, Stefan Sturm, earlier [...]
From due diligence to market mapping: Private capital is leaning on AI
Private equity and venture capital firms are handing over administrative and back-office tasks to artificial intelligence agents in order to shift staff focus to more pressing matters.
The NEET crisis is a failure of the state, not the individual
The first step in solving the NEET crisis is honesty about why so many young people are now trapped in the benefits system, writes Brandon Lewis
Morrisons sales rise as debt-ridden grocer cuts costs
Morrisons has toasted faster sales growth as the private-equity-owned grocer nears £1bn in savings as it races to trim its huge debt pile.
Government policy, not the Bank of England will determine future interest rate hikes
Today’s inflation data does not two troubling risk on the horizons: a renewed surge in global energy prices and the upcoming Budget, says William Nixon This morning’s inflation data came in close to market expectations, with headline inflation rising to 3.1 per cent in August from 2.9 per cent in July. Compositionally, the increase was [...]
Gambling giant blames job cuts on Burnham high street crackdown
Ladbrokes owner Entain has hit out at Andy Burnham’s plans to shake up the high street as the gambling giant blamed the Prime Minister for its decision to cut 400 jobs.
UK tech scale-ups raise £3.4bn as Burnham faces test over British investment
Britain’s latest crop of high-growth tech companies have raised £3.4bn between them and employ more than 6,000 people, as Andy Burnham faces pressure to get more British capital behind home-grown firms. Tech Nation on Wednesday unveiled the 50 companies in its Future Fifty 2026 cohort, spanning AI, fintech, health, defence and energy. Together, the companies [...]
Spurs owners take 12-month investment to £300m with fresh £120m injection
Tottenham Hotspur’s majority owners will take their investment into the club to beyond £300m in the last year after agreeing to an additional £120m injection.
London house price slide worsens as luxury areas lose value
House prices losses in London accelerated in June as the capital’s most sought-after postcodes shed value again.
Did call centres cause Brexit?
Over a generation, millions of ordinary interactions with government, utility providers, financial institutions and corporate giants became remote, standardised and procedural. Each individual change was introduced in the name of operational efficiency. But accumulated across a lifetime, they altered something more fundamental: our sense that an individual can make things happen, says Lucy Harris Did [...]
Winkworth warns on profit citing family boardroom bust-up
London estate agent Winkworth has warned on profits for the year ahead, citing the legal costs tied to a boardroom family feud that has led its chief executive to take his father to court.
It’s time savers benefited from Britain’s scale-up success
Growth in every postcode won’t help Brits if the proceeds are invested abroad, says Saul Klein As a serial entrepreneur, operator and investor I’ve noticed that Britain has a habit of talking itself down, even when the evidence tells a different story. Across the UK, from King’s Cross to our regional innovation clusters, we have [...]
Brewdog founder James Watt slams Burnham over Neets crisis
Brewdog co-founder James Watt has attacked Andy Burnham for “dangerous narratives” around youth joblessness, criticising the government for hiking the cost of employment.
How do central bankers decide interest rates when inflation is so unpredictable?
The Federal Reserve, Bank of England and Bank of Japan all confront the same question this week: how do you set interest rates when inflation is being buffeted by forces well beyond your control? Writes Helen Thomas Three of the world’s most important central banks meet this week, with the Federal Reserve, Bank of England [...]
Costa del Court: City law firm follows wealthy Brits to Mallorca
London-based family law firm has opened an office in Mallorca to serve the growing number of British families living in or relocating to the sunny Spanish island.
Wandsworth Council plans 94 per cent tax rise after Rayner’s cuts
Wandsworth Council has announced taxes will rise by 94 per cent for Band D residents after local leaders hit out at the government for cutting funding by £84m a year.
BGC Group raises record amounts at charity day amidst decline in corporate giving
BGC Group raised a record $16m globally for its annual BGC Charity Day last week, bringing the firm’s total to $250m over the fundraiser’s 22-year history.
Northumberland’s bold producers reinventing English whisky and gin
To celebrate the introduction of geographical indications for English Whisky, Rupert Hargreaves takes a look at two innovative producers shaking up England’s spirits market. When you think of Northumberland, images of rugged landscapes, heather-covered hills, fir trees and ancient ruins spring to mind. Nestled between Scotland and England, the region is steeped in history, from [...]
Haldane warns Burnham against ‘socialists with better TikTok videos’
Former Bank of England chief economist Andy Haldane has warned Prime Minister Andy Burnham that markets believe he is presiding over a “traditional tax and spend socialist government with better Tiktok videos”.
PwC’s UK business grows but Iran conflict hits wider group
Big Four giant PwC has reported steady financial growth in it’s UK business, with revenue and profit per partner all increasing slightly compared to the previous year, despite the firm’s wider consolidated group revenue slipping due to the Middle East conflict.
Bosses made to justify why staff shouldn’t work from home
Bosses will have to host a meeting with staff who ask for flexible working and lay out their rationale for refusing, under a new policy outlined by Louise Haigh.
WH Smith warns on profit again as discounting hits margins
WH Smith has cut its profit target again after warning that intense discounting and “inflation headwinds” are hitting its bottom line.
Barratt Redrow shares soar after housebuilder trims targets
Barratt Redrow has trimmed its housebuilding targets but insisted it is well positioned to face up to a “challenging” outlook as its new boss prepares to take the reins.
Inflation inches higher ahead of interest rates decision
Inflation inched higher in the year to August, official data has shown, adding to pressures faced by the Bank of England ahead of its interest rate decision on Thursday. The Office for National Statistics (ONS) said consumer price index (CPI) inflation in the 12 months to August was 3.1 per cent, higher than last month’s [...]
FTSE 100 Live: Stocks to edge up despite ongoing pressure on oil
Welcome back to the City AM liveblog. The UK is bracing for fresh inflation print this morning that is expected to show more impact from the Iran war trickling into the UK economy. It comes as Brent crude – the international benchmark for oil – holds around the $108 per barrel mark, near four-month highs. [...]
Clean up or lawyer up: The FCA’s culture war gets real
With the City watchdog empowered to penalise non-financial misconduct and fresh off a win at the Upper Tribunal, lawyers now expect to be flooded with work from businesses that are grappling with the focus on culture, as bullying, harassment, and serious misconduct are no longer just HR matters, writes Maria Ward-Brennan. The Financial Conduct Authority [...]
If Conservatives can win in Enfield then James Cleverly can be Mayor of London
Conservatives have long been told that London is write-off, but victory in Enfield has proved naysayers wrong. Now we must throw ourselves behind Hames Cleverly for Mayor, says Alessandro Georgiou Labour had run Enfield for 16 years when voters went to the polls on 7 May. By the end of the next day’s count, we [...]
Shadow Chancellor: 200,000 jobs have already been lost under Labour
Labour’s economic policies are damaging the UK economy and driving up unemployment – only Conservatives can restore growth, says Andrew Griffith If the UK economy were a malfunctioning car, the dashboard would be lit up like a Christmas Tree. This morning’s labour market figures are the latest set of accounts for Labour’s economy, and I [...]
We’re walking an economic tightrope and the wind is picking up
I spent much of my morning yesterday with a group of City chiefs for a candid (though unfortunately, off the record) chat about the health of our economy and the state of our politics. I feared that my stump speech about the perilous state of our public finances, our low growth rate, the ever-expanding state and unprecedented political uncertainty would be dismissed as the pessimistic ramblings of a jaded hack, but it seems my assessment chimed with their own.
Reform UK mayor pick: I want to design London like an iPhone
Londoners are steadily finding out who will be on the ballot sheet for the next mayoral election in 2028. Mauricio Alencar spoke to Reform UK’s candidate Laila Cunningham about her tunnel-vision approach to getting things done. Laila Cunningham has a simple pitch to Londoners. While, for the moment, it looks like Labour and the Tories [...]
Rayner urged to resolve ‘unwelcome’ Tower of London heritage row
Angela Rayner has been urged to resolve an “unwelcome” heritage row which could place curbs on skyscrapers in the Square Mile to protect views of the Tower of London. The housing secretary has been told that the planning dispute, which was revived by a housing minister in June, risks stalling critical investment in office space [...]
Healey urged to ‘restore faith’ by ending personal allowance freeze in Budget
UK savers are demanding chancellor John Healey end the freeze on the personal allowance in his maiden Autumn Budget, as more Brits get dragged into higher tax bands. A recent poll showed nearly 70 per cent of taxpayers want Healey to unfreeze the personal allowance, with critics arguing it has forced workers and pensioners into [...]
Manchester United’s new stadium could be delayed until 2035 as timeline slips
Manchester United’s new stadium may not open until 2035, according to official planning documentation. The timeline for the £2bn-plus project has repeatedly slipped ever since minority owner Sir Jim Ratcliffe announced in March 2025 that United would build a new stadium rather than renovate Old Trafford. At the time, the billionaire said it could be [...]
Economists may have ignored the biggest reason for our productivity decline
Productivity in the West has slowed dramatically since the late 2000s, but there is no consensus as to why.
Government plots university spinout crackdown
The government is plotting a major crackdown on university spinouts that shift their operations abroad or float overseas, the boss of the body responsible for research investment has said, in a move likely to spark unrest among founders and the venture capital industry. Sir Ian Chapman, the chief executive of UK Research and Innovation (UKRI), [...]
Bank of England under pressure to raise interest rates
The Bank of England is facing mounting pressure to raise interest rates on Thursday amid a global bond market rout fuelled by concerns over runaway government borrowing and sticky inflation.
Can cautious Wolfson keep stunning Next shareholders?
Lord Simon Wolfson has become a shareholder darling over his 25 years in charge of Next. Felix Armstrong asks whether he can keep on surprising them. Few companies listed on the London Stock Exchange are more bound up with the personality of their chief executives than Next. Lord Simon Wolfson, the long-time boss of the [...]
Unions at loggerheads over party funding cap after blockbuster Reform donation
Trade unions have taken aim at “stratospheric” donations and the flow of “dark money into UK politics” after Reform revealed it had pocketed a staggering £72m from just two supporters. The Trade Union Congress (TUC), which groups together some of the largest British unions, stopped short of calling for an outright cap on individual donations [...]
Motorway eyes first profit as Premier League deal grows customer base
Motorway is on the cusp of turning its first profit a decade after launch, as the used car marketplace looks to the Premier League to expand its customer base.
European financial centres lose global standing amid ‘relentless pivot to Asia’
London has faltered in efforts to oust New York as the world’s leading financial hub, as concerns grow over Europe’s future competitiveness
Ask the expert: I lost my job at 56. Can I retire?
Lost your job in your 50s? Marianna Hunt is back to take a look into whether retiring early, cutting spending or returning to the workplace is the best option when thrust back into the job market later in life. I’m 56 and lost my job in January after a successful career in financial services. I’d [...]
Episode 106: Ayr and Newbury
Tom Marriott and Bill Esdaile are back to preview the weekend’s action, featuring the Ayr Gold Cup at the Scottish track as well as Group action from Newbury. The Punter ‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with a primary focus on horse racing.
Palantir’s NHS platform expands into GP patient data sharing
Patient data from five GP surgeries in England is being fed into the NHS’s Palantir-built data platform, pushing the US firm’s reach beyond its initial remit of hospital operations into local surgeries.
Interview has Fine chance of landing Ayr gold
AYR HOSTS its biggest Flat meeting of the season on Saturday, headlined by the historic Ayr Gold Cup (3.40pm).This six-furlong cavalry charge is never an easy puzzle to crack, with 25 sprinters fanning out across the width of the track, but I think I’ve found a couple that are ready to run big races.Favourite Binhareer [...]
Great Expectations for Dickensian and Paddy at Newbury
ALONGSIDE Ayr’s Gold Cup meeting, there’s action from Newbury where the Group Two Mill Reef (2.12pm) takes centre stage.Nothing jumps off the page for me in the feature, but there are a few betting opportunities elsewhere on the card.Firstly in the opener, the Group Three World Trophy Stakes (1.02pm), where Starlust currently heads the betting. [...]
Sullivan & Cromwell joins the stampede to Abu Dhabi
US law firm Sullivan & Cromwell is set to expand its global footprint into the Middle East by opening an office in Abu Dhabi after several other law firms boosted their presence in the region over the last year.
KPMG wields axe again with 200 tech and cyber roles on the block
KPMG UK is set to lay off hundreds of staff in its data and tech division in the latest round of redundancies at the Big Four firm.
‘Underwhelmed’: Ofcom admits online safety impact falling short as full roll-out slips to 2027
Britain’s online safety watchdog has admitted its flagship rules have so far had an “underwhelming” impact on children’s safety, as it revealed the Online Safety Act will not be fully operational until the middle of 2027 and warned the government’s incoming social media ban could stretch its resources. Ofcom officials faced a grilling from peers [...]
Dazn getting ‘IPO ready’, says CEO Segev, after swing into black and key hires
Dazn chief executive Shay Segev has confirmed the global sports streaming platform is preparing for an IPO after achieving EBITDA profitability in 2025.Segev said the company had not decided on a timeframe for a float, nor whether the London-headquartered company would be listed on the FTSE or overseas.But he confirmed that the advent of long-awaited [...]
City firm behind BHP litigation faces legal action over unpaid barrister fee claims
A barrister for the law firm behind the record BHP litigation has alleged in a £2.6m lawsuit that the firm failed to pay him and now faces a counterclaim.
Nike nearing deal to enter Formula 1 and rival Puma and Adidas
Nike is believed to be nearing a deal which will see the sportswear giant enter Formula 1 after more than two decades off the grid.
FCA bans former law firm owner for misusing £28m of client money
The City’s financial watchdog has banned the former owner of City-based law firm Kingly Solicitors from working in financial services after finding he allowed £28m of client money to be misused.
Former Chelsea star Juan Mata reveals bid to sway Fifa presidential election
Former Chelsea and Manchester United star Juan Mata has launched a bid to influence next year’s Fifa presidential election.
Star stockpicker Lindsell kicks off to prop up flagging trust
The manager of one of Britain’s best-known investment boutiques has bought nearly £150,000 worth of shares in his investment trust as part of a programme to boost its valuation and show faith in his approach after years of underperformance.
Luxury gym chain Third Space takes record revenue
Luxury gym operator Third Space has grown its turnover by more than a third, topping £100m for the first time, as City workers flock to the upmarket health club.
Hold interest rates despite inflation risk, Shadow MPC tells Bank of England
The Bank of England has been urged to hold interest rates even as inflation is set to peak higher than previously expected due to the continuation of the Iran war, City AM’s Shadow Monetary Policy Committee has said. The Bank should leave interest rates unchanged at 3.75 per cent, according to most top economists in [...]
Andrew Bailey: Latest AI advances are an ‘OMG moment’ for cyber crime
The latest advances in frontier AI are an “OMG moment” and countries need to “arm themselves”, Andrew Bailey has said, as he highlighted the new threat of financial crime posed by the technology.
London snubbed as 2029 World Athletics Championships host
London has been snubbed as host of the World Athletics Championships with the track and field governing body opting for Nairobi over the capital.
UK government opens door to AI laws as safety warnings mount
The UK government has left the door open to tougher AI regulation after the companies building the world’s most powerful models called for slower development, fearing safety has fallen behind. City AM understands ministers believe AI is already covered by laws spanning data protection, competition, product safety and online safety, but accept those rules may [...]
London is expensive enough for tourists
An overnight levy on top of the removal of VAT-free shopping is making London too expensive for tourists, writes Ros Morgan.
New York named world’s top sport city as London trails in fourth place
New York has been crowned the world’s leading sport city while London continues to lag in fourth place in a new independent ranking published today.
Consulting giant Accenture to pay £18.5m to settle probe into hiring practices
New York-listed consultancy giant, Accenture, has agreed to pay the US government $25m (£18.5m) to settle allegations over its diversity practices
Reynolds hails ‘tremendous upsides’ to AI amid warnings on threats
Business secretary Jonathan Reynolds has emphasised the “tremendous upsides” to AI that should not be overlooked, as a growing number of tech engineers have warned of its threat to existence.
Top UK banks to raise £50m to build payments network
Britain’s biggest banks are set to kick off a fundraising campaign that will pave the way for a domestic payments alternative to Mastercard and Visa.
Exclusive: Nationwide and Investec set to bid for alternative lender Aldermore
Investec and Nationwide are among the firms set to bid for alternative lender Aldermore as its South African owner First Rand fields first round offers for the company, City AM can reveal.
Wickes gains as Brits go budget in kitchen refurbs
Wickes is benefiting from a slowdown in consumer spending as Brits switch to the value home improvement retailer and away from premium rivals, its boss has said.
State pension to top £13,000 as triple lock piles pressure on Healey
The state pension is set to rise by £490 next year as a result of the triple lock, adding to “pressures” facing Chancellor John Healey as he draws up his first budget.
London-listed builder swerves ‘challenging’ housing sector
A top listed construction firm has pulled out of the UK’s “challenging” housing sector after a slump in demand for new homes across the country.
Revolut hackers stole nearly 700 customers’ private data
The group of hackers behind a major breach of Revolut managed to steal nearly 700 customers’ private data, City AM understands.
Private sector wage growth at lowest level in nearly six years
Private sector wage growth remains at lows not seen in nearly six years even as fears of a spike in inflation driven by higher earnings are mounting.
FTSE 100 Live: Stocks slide as oil and AI weigh on markets
Welcome back to the City AM liveblog. Investors were met with a volatile start to the week after rising tensions around oil and AI dampened marked mood. Brent crude – the international benchmark for oil prices – held above $107 per barrel on Tuesday morning after worries around global supply ramped up on Monday. Saudi [...]
Scotch Whisky’s slightly sore head
In a recent in-depth analysis of the Scotch whisky industry, the FT painted a grim picture of suppressed demand and an ever-rising tide of maturing spirit. Will distilleries and jobs be swept away in another great whisky loch? Tom Bruce-Gardyne believes such talk is way too pessimistic The week-end before last, the FT went big [...]
Rocco Forte Hotels’ Russian outpost pays out bumper dividend
The ring-fenced Russian arm of Rocco Forte Hotels has paid its shareholders a dividend worth more than £3m, despite the luxury hospitality chain being accused of bankrolling Putin’s war machine in Ukraine by maintaining operations in Russia. Astoria Hotel Joint Stock Company – the holding group for Rocco Forte Hotels’ Russian portfolio – distributed £3.2m [...]
Branding on City skyscrapers? We should let our history do the talking
The City of London has one of the most forward-looking planning departments in the country. They might not always get it right – and they certainly can’t please all of the people all of the time – but when it comes to the big picture I think they make the right calls. As a local authority, the Corporation of London has to worry about bins and bikes just like any other council, but they also have to curate an ancient physical environment where demand for office space continues to surge.
Boardroom pay gap with America narrows amid battle for expertise
European financial institutions have aggressively closed the transatlantic pay gap at board level, driven by efforts to attract top-tier and specialist talent as boards face into a growing range of complex challenges.
Justice minister: legal services must embrace AI
The economic prize from AI won’t simply go to the countries that develop the most powerful technology. It will go to the countries where businesses have the confidence to use it, invest in it and build around it, says Sarah Sackman
How Taiwan can help the UN regain trust
Restoring confidence in the UN must begin with rejecting coercion by authoritarian states, writes Taiwan minister of foreign affairs Dr Lin Chia-lung
Barratt Redrow hopes to defy housebuilding gloom by splashing cash
As some of London’s listed housebuilders take emergency measures to cut costs amid rising building costs and stagnant demand for homes, one firm is splashing the cash. Barratt Redrow, which will announce its full-year numbers on Wednesday, defied the miserly approach taken by its rivals earlier this summer when it said it will buy back [...]
Mike Ashley’s Frasers faces shareholder revolt over exec bonus
Frasers Group, the retail empire owned by Mike Ashley, is facing an investor revolt over a bonus handed to its finance chief for “doing his job”.
Power Probe boss still ‘enjoying the ride’ after stock slump since Aim debut
The boss of one of Aim’s newest constituents has insisted he is still “enjoying the ride” after the stock’s slump in the months following its London IPO.
Global city rankings: London shines but appeal ‘hurt’ by cost of housing
London’s ‘quality of life’ score has been dragged down by a housing affordability crisis as workers spend more as a share of their income on housing than residents of “nearly every city in the world”, a new report has found.
Healey urged to drop ‘death tax’ holding back family businesses
John Healey has been urged to drop a so-called “death tax” which business leaders say means family firms are losing out to overseas investors.
Ministers poised to nationalise second steel firm
The government is poised to take the UK’s third-largest steelworks into public ownership, after months of talks to find a buyer broke down.
500m bricks ‘just sitting there’ as 1.5m homes target looms
There are half a billion bricks lying unused in Britain, it has been revealed, piling fresh pressure on the government’s “stretch target” of building 1.5m homes by the next election.
Gaming platform Roblox sues British charity
The group behind US gaming giant Roblox is suing a UK charity and the food brand’s philanthropic arm over alleged intellectual property infringement.
Battersea Power Station enters final phase of £5bn project
Battersea Power Station has entered the final phase of its £5bn regeneration project after its Malaysian owners submitted plans for the site’s remaining 16 acres. The neighbourhood’s newest development will add as much as 3.2m sq ft of residential, commercial and leisure space to the area, more than 15 years on from the original plans [...]
Fifpro demands Fifa Council probe amid Infantino World Cup sell-off row
Global footballers’ union Fifpro has called for an independent review of the Fifa Council’s powers after it was apparently sidelined by Gianni Infantino’s World Cup sell-off plan.
Crispin Odey loses appeal to overturn lifetime financial services ban
Former hedge fund tycoon Crispin Odey has failed to overturn a £1.8m fine and lifetime ban from working in the financial services industry.
Bank of England poised to slow bond sale programme
The Bank of England is likely to slow its unusual approach to offloading gilts after conceding it had pushed up borrowing costs at a time when government bond yields have hit near-record highs, economists have predicted. The Bank’s Monetary Policy Committee will vote to reduce the pace of its ‘quantitative tightening’ programme from £70bn to [...]
Golf: Scottish ‘ghost course’ by Gleneagles set for overseas buyer
A top private golf course in Scotland bordering Gleaneagles is expected to be sold to an overseas buyer for tens of millions of pounds.
Mortgage rates soar ahead of the Bank of England decision
Borrowers are bracing for more mortgage woes ahead of the Bank of England’s interest rate decision this week.
London software stocks enjoy ‘boon’ after calls for AI slowdown
London-listed software stocks jumped on Monday as calls from the world’s biggest AI companies to slow development offered some relief to businesses previously seen as vulnerable to the technology. Sage climbed more than five per cent to rise the fastest among FTSE 100 firms, while RELX also rose after Anthropic, OpenAI and Elon Musk backed [...]
If Britain stops believing in AI we’ll sabotage our own progress
Britain faces an “AI belief challenge” driven by public skepticism over job losses and corporate greed, requiring companies to align technological progress with human interests, says Michael Hayman
Bank of England predicted to raise interest rates this year
Goldman Sachs has upgraded its interest rate expectations amid concerns that inflation could jump higher than previously expected.
Nationalising London buses fixes a nonexistent problem
City Hall already controls London’s bus network, so why is Sadiq Khan humouring a proposal to build a publicly owned bus operator.
London Lions and NordVPN owner signs up NBA legend Shaquille O’Neal
The owners of cybersecurity firm NordVPN and British basketball champions London Lions have signed up NBA legend Shaquille O’Neal as an ambassador.
Former Formula 1 champion loses £1.4m HMRC tax bill appeal
Former Formula 1 world champion Jody Scheckter has been forced to stump up £1.4m in unpaid tax after an appeal against an HMRC ruling on his buffalo farm failed in court.
What does the British government think sanctions on Israel will achieve?
Would it be highly cynical to suggest that Labour are changing Britain’s policy on Israel in search of domestic political advantage, asks Eliot Wilson If politics is the art of persuasion, as Aristotle’s Rhetorike seems to suggest, then there are some subjects which will always be fruitless and frustrating: abortion, capital punishment, Kashmir, Cyprus. Into [...]
Is the Alpine A390 the most interesting electric SUV?
Alpine has taken a very different approach to the electric SUV with the A390, but does its mix of performance, range and style make it a better choice than more established rivals? Why the Alpine A390 is different Alpine has taken a slightly unusual route into the electric SUV market with the A390, a car [...]
Lord Ranger: Diljit Dosanjh at Wembley makes me optimistic about modern Britain
Diljit Dosanjh sell-out performance at Wenbley was not some niche cultural showcase, it was a superstar coming home – and a sign of how far Britain has come, says Lord Ranger There are some places that hold memories. And then there are places that hold generations of them. For me, Wembley Stadium is one of [...]
Revolut facing ransom request after hackers obtain customers’ data
Revolut hackers are threatening to release stolen customer data unless the fintech pays a ransom, after the company inadvertently handed over a trove of users’ private information over the weekend.
Tech stocks slide as AI extinction warnings rattle markets
Tech stocks tumbled across Asia and US futures pointed lower on Monday after some of the world’s most powerful AI bosses called for the industry to slow development over safety fears. Japan’s SoftBank, one of OpenAI’s biggest investors, plunged as much as 13 per cent in Tokyo, while memory chip maker Kioxia dropped as much [...]
Tennis elite pauses Grand Slam protest after achieving $30m prize money boost
Top men’s and women’s tennis players including Jannik Sinner and Aryna Sabalenka have agreed to cease their public campaign for more prize money and power at Grand Slams.
Mike Ashley’s Frasers ousts Hugo Boss chairman
Frasers Group, the retail empire run by Mike Ashley, has overthrown the chairman of Hugo Boss as it seeks control of the German fashion house.
Big Technologies founder talks collapse as profits rebound from boardroom battle
Big Technologies’ bitter battle with founder Sara Murray has flared up again after settlement talks collapsed, overshadowing a return to statutory profit and a raised outlook at the electronic monitoring group.
Burnham to call for ‘culture shift’ as he meets UK business chiefs
Andy Burnham will call for a “culture shift” in how Britain does business as he meets top bosses from the likes of Aviva, Rolls Royce and Revolut UK on Monday.
FTSE 100 Live: Stocks to rise as oil hits $107 at four-month high
Welcome back to the City AM liveblog. The price of oil has smashed a four-month high following on from last week’s nine per cent rally. Brent crude – the international benchmark for oil prices – rose towards $108 per barrel on Monday morning following the news that Saudi Arabia had shut a major crude pipeline [...]
How much do regulations cost the average UK business in 2026?
No one single regulation is responsible for businesses' current woes. The accumulation of taxes has become greater than the sum of its parts.
Athlos: Founders head to Downing Street as athletics meet eyes London future
Reddit co-founder Alexis Ohanian will visit Downing Street as his all-female athletics event Athlos eyes a long-term future in London ahead of this week’s inaugural event in the capital.
Fintech leaders still back the UK. Don’t make them regret it
Fintech is one of the UK’s great success stories. But there is a danger in assuming it will remain that way, writes Nick Murray-Leslie.
Europe is calling all the shots in UK-EU ‘reset’
The UK is pulling the short straw in the EU reset, which risks exposing us to retaliation from existing trade partners, writes David Collins.
Burnham told to deliver 10 per cent hospitality VAT after backing tax cut
More than 800 hospitality businesses have called on Andy Burnham to make good on his support for lower VAT, piling pressure on the prime minister ahead of next month’s Budget.
How Fevertree is taking on tap water to woo Gen-Z
The world’s biggest ginger beer producer is waging war on tap water. Fevertree, best known for its premium tonics, is urging customers to see its products as standalone soft drinks, rather than as mixers for the harder stuff. “Tap water is not a very appealing, aspirational alternative” to alcohol, says the drinks maker’s chief executive, [...]
Reform hits back at Tory plan to ‘abolish inheritance tax’
The Conservatives and Reform UK have clashed over plans to abolish inheritance tax as Kemi Badenoch prepares to put tax cuts at the heart of her pitch to voters.
OpenAI delays IPO as Altman says safety comes first
OpenAI has pushed back plans for a mega stock market debut as boss Sam Altman said the company needed to focus on AI safety before opening itself up to public investors.
Rayner warns Reform’s £72m crypto windfall could be caught by new donor rules
Angela Rayner has warned Reform UK that its record £72m fundraising haul from two cryptocurrency billionaires could be caught by retrospective rules being pushed through parliament. The housing secretary said new restrictions on political donations from Britons living abroad, or those who have recently returned to the UK, would be backdated as ministers seek to [...]
Anthropic boss warns AI could ‘outrun our ability’ to control it
Anthropic boss Dario Amodei has called for the AI industry to slow the development of its most powerful models, warning that progress is moving “drastically faster” than safety work can keep up. In an essay published on Saturday, Amodei said frontier AI companies should deliberately pace advances in model capabilities, open their systems to independent [...]
Burnham eyes youth minimum wage rethink as jobs crisis bites
Andy Burnham’s government is considering slowing planned minimum wage rises for young workers amid concerns that higher employment costs are making businesses more reluctant to hire them.
Burnham 1-0 Khan: Cardiff right place for Fury vs Joshua boxing bout
Cardiff is a wonderful city in which to watch sport; the Millenium Principality Stadium is one of the world’s great arenas, the adjacent Cardiff Arms Park one of the country’s most historic grounds and Sophia Gardens will always be one of the nation’s premium Test cricket hosts.