The total volume of active fuel oil exports from Russia to India and Turkey has seen a significant upturn as prices plummet. This news comes amidst a backdrop of rising political instability and an extension in crude oil prices. CityAM.com, the online version of London’s foremost free daily business newspaper, City A.M., provides comprehensive coverage […]

China is alleviating its stringent regulations on the exportation of rare earth elements by sanctioning “a certain number” of export permits, according to a statement from the nation’s commerce ministry. This move could signal the commencement of a period of easier access to rare earths for global supply chains. While the ministry confirmed the approval […]

Rising political instability and fluctuating global oil prices necessitate the exploration of renewable energy sources. Developing countries are increasingly willing to utilise their natural resources for renewable energy development, which includes wind and solar projects. However, these nations often lack the financial resources for establishing new energy sectors and transitioning from fossil fuels. The Inter-American […]

Renowned for being one of the most recent exploration hotspots globally, Namibia is contemplating offering additional incentives and financing alternatives to international majors preparing plans for offshore oil production in the country. A number of oil and gas supermajors, including Shell, TotalEnergies, and Portugal’s Galp, have already made substantial discoveries off the coast of Namibia. […]

Despite the rising tensions in the region, Japan’s largest city gas supplier, Tokyo Gas, is not affected by the ongoing conflict in the Middle East. The company’s supply of super-chilled fuel, or liquefied natural gas (LNG), remains steady, according to a top executive. The reason for this is that Tokyo Gas does not rely on […]

As artificial intelligence (AI) continues to reshape our computational systems, economies and energy footprints, the question of who should regulate AI and how has become an extremely complex matter. There is currently a political struggle ongoing in Washington about governance over the sector, with large questions about what limitations should be placed on the rapidly […]

UK government officials have subtly conceded that the cost of renewable and other low-carbon technologies essential for the rapid transition to net zero is higher than that of using fossil fuels. This admission comes as an unwelcome one, as it has indirectly contributed to escalating energy bills for households throughout the nation. Despite this revelation, […]

The Bank of England’s Monetary Policy Committee (MPC) has voted to maintain interest rates at 4.25%, with six of its nine members favouring the status quo whilst three pushed for a reduction to 4%. This decision marks a cautious approach amidst growing signs of economic slowdown and labour market softening. Governor Andrew Bailey emphasised that […]

British consumer confidence has demonstrated a slight improvement but remains delicate as mounting tensions in the Middle East threaten to drive petrol prices higher, according to the latest GfK index findings. The respected consumer sentiment measure advanced two points in June, settling at -18, though this figure stands notably below the -12 recorded in the […]

In a significant move towards modernising the UK’s border control systems, more than 9,000 European airline staff are undergoing specialised training to verify visa documentation at departure gates. This strategic initiative, spanning 39 countries including critical transit routes such as Greece, Malta, Italy and Albania, represents a substantial shift in border management protocols. The Foreign […]

The National Health Service faces a mounting crisis as overseas-trained medical professionals increasingly opt for more lucrative positions in the United States, Australia, and Canada, according to new research from the General Medical Council (GMC). The comprehensive study, surveying 3,092 international doctors, reveals a stark reality: 84% of respondents believe other nations offer superior compensation […]

The proposed Chinese “super-embassy” development in London has encountered fresh obstacles following significant US intervention, casting uncertainty over its future. The White House’s expression of deep concern regarding potential Chinese access to sensitive communications infrastructure has complicated what was initially a localised planning dispute. The contentious site, Royal Mint Court, situated on the periphery of […]

Public sector borrowing in the UK reached £17.7 billion in May, marking a concerning increase from £17 billion in the previous year and settling as the second-highest May figure ever recorded. The rise surpassed City economists’ predictions of £17.1 billion, intensifying pressure on Chancellor Rachel Reeves to maintain control over spending limits. The escalation in […]

In a significant shift for the UK’s life sciences sector, Syncona, the Wellcome Trust-backed FTSE 250 investment company, has revealed plans to implement an orderly wind-down of its portfolio assets. The decision comes as the broader biotech sector continues to navigate through turbulent market conditions. The company, which made its market debut a decade ago, […]

Investors in junk bonds are bracing for potentially significant losses as analysts forecast a concerning rise in defaults for the coming year. Deutsche Bank’s latest report suggests the likelihood of a soft landing in the US economy is diminishing, potentially triggering a wave of defaults among heavily leveraged corporations in 2026. Deutsche Bank’s analysis projects […]

The Bank of England stood firm on Thursday, maintaining interest rates at 4.25 per cent whilst other major central banks across Europe opted for rate reductions. The monetary policy committee’s decision revealed growing divisions, with a 6-3 vote favouring the hold position, diverging from analysts’ expectations of a 7-2 split. Deputy Governor Dave Ramsden shifted […]

The UK government has signalled its readiness to place Thames Water into special administration amid mounting concerns over the utility provider’s financial stability and operational performance. Environment Secretary Steve Reed delivered a stark warning to Parliament, emphasising that Thames Water must fulfil its statutory and regulatory obligations. The statement came in response to growing unease […]

The British government has initiated discussions with the Trump administration regarding potential exemptions for UK companies from proposed ‘revenge taxes’, according to Chancellor Rachel Reeves. During recent talks in London with US Treasury Secretary Scott Bessent, the focus centred on the White House’s threatening stance towards nations deemed to operate discriminatory tax systems. The controversial […]

The chief executive of Aviva has issued a stark warning to the government regarding pension investment autonomy, emphasising that investment decisions must remain in the hands of savers rather than being dictated by ministerial mandate. Dame Amanda Blanc, speaking at The Times CEO Summit, made it clear that companies providing defined contribution workplace plans base […]

British gas plants are positioned to receive substantial windfall payments this winter, following a pattern of multimillion-pound payouts from the previous cold season. The National Energy System Operator (NESO) reports that the UK’s winter power supplies will reach their highest levels since 2020, partly attributed to an increasing number of gas facilities prepared to generate […]

In a concerning development for Meta’s artificial intelligence capabilities, their WhatsApp AI assistant has demonstrated significant privacy vulnerabilities by inadvertently sharing a private user’s mobile number during a routine customer service enquiry. The incident occurred when Barry Smethurst, 41, attempted to obtain contact details for TransPennine Express whilst experiencing travel disruptions. The AI confidently provided […]

In a landmark transaction finalised on Wednesday, Nippon Steel successfully acquired US Steel for $14.9 billion, marking a significant shift in the global steel manufacturing landscape. The deal’s completion follows an 18-month period of intense negotiations and includes unprecedented provisions granting substantial control to the Trump administration. The acquisition terms establish a purchase price of […]

The European Commission has delivered a scathing assessment of Chinese e-commerce behemoth AliExpress, citing “systemic failure” in preventing the distribution of illegal and hazardous merchandise across its digital marketplace. Brussels’ regulators unveiled their formal investigation findings, initiated in March 2024, highlighting AliExpress’s inadequate measures to curtail the sale of counterfeit apparel and dangerous children’s toys. […]

Britain’s ambitious high-speed rail project, HS2, is set to miss its 2033 completion target amid mounting costs and management challenges, Transport Secretary Heidi Alexander revealed in a stark parliamentary address. The announcement marks a significant setback for the UK’s largest infrastructure project. The revelation comes following a critical assessment from newly appointed HS2 Ltd Chief […]

In a significant move that signals the growing impact of artificial intelligence on the workforce, Amazon’s chief executive Andy Jassy has announced plans to reduce the company’s corporate workforce as AI technology increasingly automates white-collar positions. The retail giant, which employs more than 1.5 million full-time and part-time staff, is actively implementing generative AI across […]

British inflation decelerated to 3.4 percent in May, marginally missing economists’ expectations of 3.3 percent, as declining transport costs and petrol prices helped offset rising food inflation. The Office for National Statistics reported that service sector inflation, a crucial metric monitored by the Bank of England, decreased to 4.7 percent from 5.4 percent in April, […]

Two Spanish banking powerhouses are engaged in discussions regarding the potential merger of their UK operations, signalling a significant shift in Britain’s banking landscape. Banco Santander has reportedly approached rival Sabadell with interest in acquiring TSB, as the sector braces for fresh consolidation. Sabadell has confirmed receiving multiple expressions of interest for TSB, its British […]

The co-founder of Raspberry Pi and his finance chief have collectively realised over £2 million from their shareholdings following the expiry of their lock-up agreements. Eben Upton, who serves as chief executive of the pioneering microcomputer manufacturer, alongside Chief Financial Officer Richard Boult, have capitalised on the conclusion of their 365-day post-IPO trading restrictions. Upton, […]

The chief executive of AO World has indicated the company may shut down its loss-making contract mobile phone business within two months if more profitable arrangements with network providers cannot be secured. John Roberts, who established the online retailer following a £1 pub wager in 2000, emphasised that whilst AO isn’t abandoning mobile phones completely, […]

Big Technologies has claimed that its allegations regarding former chief executive Sara Murray’s undisclosed connections to offshore companies have been ‘largely confirmed’ by an international financial services provider. The revelation came during the company’s annual meeting, where it was disclosed that these offshore entities owned 38% of Big before its 2021 flotation, resulting in £124 […]

OpenAI’s chief executive Sam Altman has alleged that Meta Platforms is attempting to lure his organisation’s top artificial intelligence engineers with staggering signing bonuses reaching £100 million, marking a significant escalation in the technology sector’s talent war. Speaking on the Uncapped podcast hosted by his brother, Altman revealed that Meta has begun making “giant offers” […]

The US Federal Reserve has maintained interest rates and signalled two potential cuts this year, amidst mounting pressure from President Trump for monetary easing. The central bank held its benchmark borrowing costs between 4.25 per cent and 4.5 per cent, aligning with market predictions. The Fed’s influential “dot plot” of monetary policy forecasts reinforced expectations […]

Britain’s economic prospects face mounting pressure as the Confederation of British Industry (CBI) warns of a significant slowdown driven by escalating labour costs, persistent inflation, and uncertainties surrounding US trade relations. The influential business organisation has reduced its growth forecast for the current year from 1.6 per cent to 1.2 per cent, aligning with projections […]

Vodafone’s recent strategic manoeuvres under CEO Margherita Della Valle’s leadership have positioned the telecommunications giant for a potential turnaround, despite shares trading near three-decade lows. The centrepiece of this transformation is a £16.5 billion merger with Three in the UK market, complemented by strategic exits from challenging Italian and Spanish operations. The market’s current valuation […]

Nearly 300 savers faced tax bills of £98,000 or more on their retirement pots last year after withdrawing substantial pensions in one go. Data from Standard Life reveals that 292 individuals fully withdrew pension pots of £250,000 or more between October 2023 and March 2024, triggering minimum tax bills of £98,700 each. An additional 1,600 […]

A mounting rebellion against billionaire hedge fund manager Daniel Loeb’s latest deal is gaining momentum as a fifth major shareholder voices stern opposition to the proposed merger. Evelyn Partners, holding a 3% stake in Third Point Investors, has joined the chorus of dissent regarding the £68 million acquisition of Malibu Life Reinsurance. The controversial reverse […]

The Independent Water Commission’s forthcoming report will not advocate for changes to water companies’ ownership structures, according to its chairman Sir Jon Cunliffe, a former Bank of England deputy governor. Speaking before the Commons environment, food and rural affairs committee, Sir Jon clarified that ownership model alterations fall outside the commission’s scope. The revelation comes […]

The Times shadow monetary policy committee has strongly advised the Bank of England to maintain current interest rates, citing ongoing concerns about inflationary pressures stemming from the Israel-Iran conflict. The committee’s recommendation comes ahead of Thursday’s crucial meeting, where rates are expected to remain at 4.25 per cent. Eight of the nine shadow MPC panellists […]

British industrial equipment rental giant Ashtead Group has cautioned investors about slowing rental revenue growth in the current financial year, citing persistent weakness in the US construction market. The FTSE 100 company’s latest financial update reveals a mixed performance, with particular challenges in local non-residential construction projects. The company’s rental revenue growth forecast now stands […]

The contentious relationship between consumer goods giant Unilever and its ice cream subsidiary Ben & Jerry’s appears headed for further deterioration following a controversial leadership appointment. Unilever’s nomination of Peter ter Kulve to lead the soon-to-be-independent Magnum Ice Cream Company has sparked fresh tensions in an already fractured partnership. The proposed appointment, scheduled for board […]

The British banking sector is witnessing unprecedented levels of merger and acquisition activity, with Santander UK, TSB, and Metro Bank all becoming subjects of intense takeover speculation. Metro Bank shares surged after private equity firm Pollen Street Capital made an approach, potentially seeking to merge it with Shawbrook Bank. City analysts suggest this combination could […]

Investment sentiment is experiencing a significant transformation as global investors increasingly distance themselves from US stocks and the dollar during President Trump’s second term, according to Bank of America’s latest market analysis. The research reveals a marked shift towards European and emerging markets, with investor confidence rebounding to levels seen before Trump’s controversial ‘liberation day’ […]

British manufacturers are abandoning the United States as an export market, marking a significant shift in global trade relations. The US has dropped out of the top three global regions for UK manufacturing business expectations, a first in the history of Make UK’s member survey. The industrial employers’ lobby group’s research reveals a stark reality: […]

Jaguar Land Rover has downgraded its earnings forecast and cashflow expectations for the current financial year, citing global uncertainties and the looming threat of President Trump’s tariffs. The luxury automaker revealed during investor presentations at its Warwickshire headquarters that profit margins are expected to drop to between 5 and 7 per cent, down from 10.7 […]

Property sellers across the UK have been compelled to reduce their asking prices amidst the most extensive selection of homes available to buyers in ten years. Recent data from Rightmove reveals sellers entering the market have slashed listing prices by an average of £1,277 in the month leading to June, marking a 0.3 per cent […]

Oil prices retreated and global equities advanced as market sentiment shifted towards optimism regarding the Iran-Israel conflict, with traders increasingly confident the situation would not develop into a broader regional war. The price of Brent crude declined nearly 4 per cent to $71.47 per barrel, marking a significant reversal from Friday’s peak of $78. The […]

Britain’s largest producer of carbon dioxide, essential for operating theatres and the food and drink industry, has issued a stark warning of “imminent” closure following the recent US-UK trade agreement. German-owned Ensus is seeking tens of millions in government subsidies to sustain Britain’s bioethanol industry, including its vital Teesside plant that produces high-purity COâ‚‚ as […]

Germany’s steel titans are forging ahead with ambitious plans to decarbonise their operations, setting a precedent for industrial transformation across Europe. At the heart of this revolution lies Benteler, a family-owned enterprise in Lingen, whose electric arc furnace facility processes steel scrap into vital components for the global automotive industry. The transformation from traditional coal-burning […]

British businesses are preparing significant workforce reductions and price increases in response to the £25 billion rise in payroll taxes introduced by Chancellor Rachel Reeves during the October budget, according to new research. The comprehensive survey, conducted by Censuswide for accountancy firm S&W, reveals that 33% of business owners with turnover exceeding £5 million plan […]

Shares in troubled high street lender Metro Bank rocketed more than 18% today following reports of a potential takeover approach from private equity firm Pollen Street Capital. The stock surged to 132¾p, reaching levels not witnessed since March 2023, as investors responded enthusiastically to the prospect of a buyout. The possible acquisition by Pollen Street […]

BT’s chief executive Allison Kirkby has indicated that artificial intelligence advancements might lead to more extensive job cuts at the FTSE 100 telecommunications giant, extending beyond its existing plan to reduce its workforce by up to 55,000 positions. The company’s current strategy, announced two years ago, aims to eliminate between 40,000 and 55,000 roles as […]

Global investors have demonstrated overwhelming confidence in London’s property market, pouring more capital into the city’s real estate than any other global metropolis over the past decade. Fresh data from property consultancy JLL reveals that London’s commercial real estate sector attracted an impressive $87 billion from private investors between 2013 and 2024, securing its position […]

The Bank of England’s Monetary Policy Committee (MPC) is poised to maintain its cautious stance at this week’s meeting, with interest rates expected to remain at 4.25 per cent. Since September 2024, the central bank has emphasised a ‘gradual’ approach to monetary policy loosening, following the first post-pandemic rate cut decided by a narrow 5-4 […]

Britain’s oldest Indian restaurant, Veeraswamy, is embroiled in a high-stakes legal dispute with the Crown Estate over its prestigious Regent Street location, potentially facing relocation costs of £5 million. The Michelin-starred establishment, which has occupied Victory House near Piccadilly Circus since 1926, is confronting eviction as the Crown Estate pursues renovation plans for the building’s […]

Australian infrastructure giant Macquarie is on the verge of securing a landmark multibillion-pound acquisition of three prominent UK airports: Birmingham, Bristol, and London City. The deal, currently in its final negotiation stages with Ontario Teachers’ Pension Plan (OTPP), represents a significant shift in British aviation infrastructure ownership. The complex transaction involves OTPP’s varying ownership stakes […]

Richard Caring, the prominent restaurateur behind The Ivy Collection and Bills, has issued an apology following a controversial letter demanding mandatory payment reductions from suppliers. The communication, which sparked significant backlash within the hospitality industry, had stipulated a 2.5 per cent “discount” on supplier invoices. The letter, dated 3 June and signed by Jeremy Evans, […]

Oil prices have witnessed a substantial 10 per cent increase over the past week amid growing tensions between Israel and Iran, prompting warnings from the UK’s Chancellor Rachel Reeves about potential economic ramifications. The Chancellor’s concerns centre on the possibility of Iran closing the strategically vital Strait of Hormuz, a crucial trading route that facilitates […]

The aviation industry giant Boeing confronts renewed scrutiny following a catastrophic crash of its 787-8 Dreamliner in Ahmedabad, India, resulting in 241 fatalities. The incident has forced CEO Kelly Ortberg to cancel his anticipated appearance at the prestigious Paris Air Show, where he had planned to showcase the company’s renewed commitment to safety. The London-bound […]

In a remarkable transformation, Mark Carney, once heralded as the Bank of England’s greenest-ever governor, has executed a striking policy reversal. The former central banker who adamantly advocated leaving 80% of oil and gas reserves untouched is now championing Canada’s fossil fuel industry as the nation’s new prime minister. During his tenure at the Bank […]

Britain’s largest restaurant chain, McDonald’s, faces mounting pressure as sales decline amidst fierce competition and consumer backlash over significant price increases. The fast-food giant, which launched its first UK outlet in Woolwich during 1974, has witnessed its market dominance challenged by both budget-friendly alternatives and premium competitors. The iconic Big Mac, once priced at £2.99 […]

Luxury retailer Fortnum & Mason has unveiled ambitious plans to establish its first UK stores beyond London’s boundaries, responding to growing consumer demand for their premium offerings. Chief Executive Tom Athron has expressed interest in expanding “up the spine of the country,” marking a significant departure from the company’s 318-year London-centric strategy. The prestigious Royal […]

Britain’s long-standing position as a haven for wealthy expatriates is experiencing a dramatic shift as evidence mounts of an accelerating exodus of high-net-worth individuals following Labour’s recent tax reforms. The elimination of non-dom status and inheritance tax overhauls by Chancellor Rachel Reeves has triggered what wealth management professionals describe as an unprecedented departure of the […]

Britain’s karaoke scene is experiencing a significant transformation as Generation Z increasingly opts for alcohol-free singing sessions, marking a departure from traditional late-night, drink-fuelled performances. Lucky Voice, the UK’s largest karaoke chain, reports a notable shift in peak booking times from 10pm to 8pm, reflecting evolving social patterns amongst younger patrons. Chief Executive Charlie Elek […]

Australian infrastructure giant Macquarie is on the verge of securing a landmark multibillion-pound acquisition of Birmingham, Bristol, and London City airports. The deal, currently in its final stages, would see Macquarie purchase significant stakes from the Ontario Teachers’ Pension Plan (OTPP), marking a substantial shift in UK regional airport ownership. The complex transaction involves varying […]

Ryanair, Europe’s largest budget airline, has announced a new policy imposing a £500 fine on passengers deemed disruptive and subsequently removed from flights. The airline described this as the “minimum” penalty, with potential civil damages pursued in addition. This policy aims to deter unacceptable behaviour by a minority of travellers, which often causes unnecessary disruption […]

Pistachio-filled “Dubai chocolate” is taking the UK dessert market by storm, boasting a luxurious filling of pistachio cream and tahini encased with knafeh, a celebrated Arab dessert. However, while the popular sweet treat enjoys viral attention on platforms like TikTok, food safety regulators are raising concerns over rogue imports potentially endangering consumers with allergies. The […]

Chinese carmaker BYD has officially unveiled its most affordable model, the Dolphin Surf, in the UK. Priced at £18,650, it stands among the lowest-priced new vehicles available in Britain. This introduction forms a critical part of BYD’s strategy to surpass Tesla as the world’s largest electric vehicle (EV) manufacturer. Tesla remains the dominant supplier of […]

Gibraltar has agreed to impose a 15% sales tax on goods as part of a significant post-Brexit agreement with Spain, ensuring alignment with EU taxation standards. The move, described by officials as historic, aims to integrate the British overseas territory into the border-free Schengen zone and facilitate its connection with the EU’s customs union. The […]

The US dollar plummeted to its lowest level in over three years on Thursday as signs of a slowing economy and rising government debt deterred investors from holding the once-dominant currency. Weakness in the jobs market coupled with erratic policy manoeuvres from the White House have dramatically shifted market confidence, while the Federal Reserve’s likely […]

Britain is on course to become a “National Health State,” with half of all public spending reportedly set to be allocated to the NHS and social care by the end of the decade. This projection comes from the Resolution Foundation, a prominent thinktank, citing a dramatic shift in priorities outlined in the Chancellor Rachel Reeves’ […]

Halma, a FTSE 100-listed company known for its consistent performance, has recorded its 22nd consecutive year of profitable growth and its 46th successive year of rising dividends. The company, which operates through 50 autonomous subsidiaries across the globe, continues to demonstrate resilience amidst market uncertainties. For the year ending in March, Halma announced an 11 […]

EDF, the French energy giant, has secured the acquisition of Pod Point, the electric vehicle (EV) charging company, for a £10 million cash offer. This marks a significant moment for the business, which was floated on the London Stock Exchange in 2021 with a valuation of £345 million. The deal represents a 24 per cent […]

Tesco has exceeded market expectations with a strong sales performance in the first quarter, reporting like-for-like sales growth of 5.1% in its UK operations. For the 13 weeks ending 24 May, the supermarket giant achieved revenues of £12.3 billion, surpassing analysts’ projections of 4.6% growth. The group’s overall revenues, including its operations in Ireland, Central […]

Struggling discount retailer Poundland has been sold to the American investment company Gordon Brothers for a nominal fee of £1. The acquisition transfers all 818 stores and the jobs of 16,000 employees to the Boston-based firm. Gordon Brothers, known for rescuing distressed businesses, plans a restructuring aimed at ensuring the firm’s survival. The deal includes […]

The UK economy shrank by 0.3 per cent in April, a noticeably sharper downturn than economists had forecast. This follows a 0.2 per cent growth in March, with April’s contraction attributed to the impacts of new tariffs and increases in national insurance contributions faced by employers. Data from the Office for National Statistics (ONS) revealed […]

In a remarkable display of unity within the highly competitive retail industry, Tesco stepped in to provide supplies to Marks & Spencer (M&S) and several Co-op branches after the two chains were hit by a devastating cyberattack. The assistance, revealed by Tesco CEO Ken Murphy, highlights the extent of disruption caused by the attack and […]

Boeing’s stock suffered a sharp decline following a tragic Air India crash involving a 787-8 Dreamliner, deepening investor concerns over the safety of the aerospace giant’s products. The aircraft, carrying more than 240 passengers and crew, including 53 Britons, crashed shortly after take-off from Ahmedabad airport in western India. This marks the first fatal crash […]

British exports to the United States have experienced their most significant monthly decline on record, according to figures from the Office for National Statistics (ONS). In April, the value of UK goods exported to the US dropped sharply by £2 billion compared to March, falling from £6 billion to £4 billion. This marks the steepest […]

The UK’s Competition and Markets Authority (CMA) has launched an investigation into the proposed merger between Evri and DHL’s UK e-commerce division. This deal has the potential to create one of Britain’s largest parcel delivery firms. The CMA is evaluating whether the merger will significantly reduce competition within the delivery industry, a sector critical to […]

BT, the UK’s largest broadband provider, is reportedly considering the possibility of acquiring TalkTalk, the fourth-largest telecoms group, which has been grappling with substantial financial challenges and a dwindling customer base. Although no formal approaches have been made and no negotiations have been entered into, the idea of such a deal has been the topic […]

Meta, led by chief executive Mark Zuckerberg, is poised to announce a groundbreaking £11bn ($15bn) investment aimed at achieving computerised superintelligence. Reports indicate that the social media giant will acquire a 49% stake in Scale AI, the burgeoning artificial intelligence start-up co-founded by Alexandr Wang and Lucy Guo. Industry observers have described this move as […]

Rachel Reeves, the Chancellor, has unveiled a bold spending review, outlining Labour’s ambitions to “renew Britain” with significant investments in health, defence, and social housing. Presented in the House of Commons, this announcement underscores the government’s commitment to reversing the effects of austerity and prioritising infrastructure, security, and public services. Reeves promised that departmental budgets […]

The cost of renting a home in the UK continues to rise, but at a significantly slower pace than in recent years. According to data from Zoopla, the average rent for new lets increased by 2.8 per cent over the past year to £1,287 per month. This represents the slowest rate of growth recorded since […]

Class action lawsuits could create economic damage to the tune of £18 billion in the UK, according to findings by the European Centre for International Political Economy. This alarming figure surpasses the scope of several sector-specific public investment programmes and raises concerns over the economic resilience of the country. The report warns of a potential […]

Inditex, the world’s largest listed clothing retailer and owner of Zara, has posted weaker-than-expected first-quarter revenues, reflecting the impact of global economic uncertainty and shifting consumer confidence. The company reported sales of €8.27 billion for the three months ending in April, a modest 1.5 per cent rise compared to the same period last year. However, […]

The American private equity group KKR, in collaboration with Stonepeak Partners, has increased its bid to acquire Assura, the NHS landlord, raising its offer to £1.7 billion. This revised bid marks an additional £100 million from its previous proposal and represents 52.1 pence per Assura share. In a move to secure shareholder support, the Assura […]

In a landmark judgement, the High Court has ruled that insurers including AIG, Lloyd’s of London, and Chubb must pay more than $1 billion to AerCap, the world’s largest commercial aircraft lessor, for planes stranded in Russia since the beginning of the war in Ukraine. The case represents one of the largest awards in a […]

Disney and NBCUniversal have launched a joint lawsuit against the generative AI company, Midjourney, accusing it of unlawfully using copyrighted material to train its image-producing software and create unauthorised reproductions of their intellectual property. This legal battle represents one of the first major confrontations between Hollywood content creators and artificial intelligence firms over intellectual property […]

Gold has officially surpassed the euro to become the second-largest global reserve asset, following the US dollar, according to a recent report by the European Central Bank (ECB). Rising geopolitical volatility and increasing concerns over economic sanctions have driven this shift, highlighting a growing reliance on gold among central banks worldwide. Central banks are increasingly […]

WPP has faced another significant setback by losing the $1.7 billion (£1.4 billion) global media planning and buying account for Mars to its French rival Publicis. The American company, which owns brands like Snickers, M&Ms, and Whiskas, initiated a review of its advertising and marketing strategies six months ago, leading to the decision to switch […]

Global markets have responded with cautious optimism following the announcement of a “done deal” between the United States and China over raw materials exports. The agreement, which followed two days of negotiations in London, was initially celebrated by US equity markets, though uncertainties surrounding new tariffs have tempered investor sentiment. US markets saw early gains […]

Britain and Spain have reached a historic agreement to resolve long-standing tensions over Gibraltar, ending years of uncertainty heightened by Brexit. The deal introduces significant changes, including the removal of Gibraltar’s VAT-free regime, replacing it with a higher import levy referred to as a transaction tax. This development aims to mitigate economic distortions caused by […]

The chief executive of the Financial Conduct Authority (FCA), Nikhil Rathi, has defended Britain’s listing rulebook as criticism mounts over the shrinking London stock market. Speaking to the Commons Treasury Committee, Rathi addressed concerns about businesses increasingly favouring overseas markets, particularly in the United States, for their public listings. Rathi dismissed claims that the FCA’s […]

The global economy is projected to experience its most underwhelming decade since the 1960s, as reported by the World Bank. Recent analysis shows significant downgrades to growth expectations for nearly three-quarters of major economies, stemming largely from geopolitical trade policies and post-pandemic challenges. The World Bank forecasts an average growth rate of just 2.5 per […]

AstraZeneca, Britain’s largest drugmaker, has faced sharp criticism over its handling of the detention of Leon Wang, its former head of international and China operations. Wang has reportedly remained in detention for eight months after being arrested in Shenzhen, in connection with allegations involving the illegal importation of unapproved medicines and medical insurance fraud. Despite […]

The NHS is projected to miss its target of treating 92 per cent of patients needing routine operations within 18 weeks, despite a significant £30 billion budget boost outlined in the recent spending review. According to internal Department of Health modelling, the health service is likely to reach just 80 per cent by the end […]

The Bank of England has reported a substantial increase in the volume of banknotes in circulation as UK households resort to hoarding cash during times of heightened economic and global instability. Data indicates this rising trend, which began in 2022, reflects concerns about unpredictable events such as cyber-attacks, inflation, and fears of banking outages. Victoria […]

The United Kingdom’s unemployment rate has climbed to 4.6% in the three months to April, marking the highest level since July 2021. Official figures from HM Revenue and Customs (HMRC) reveal that over 276,000 jobs have been lost since Chancellor Rachel Reeves’s autumn budget, which imposed a £25 billion hike in employer national insurance contributions […]

Rachel Reeves, the Chancellor, is set to unveil a significant £39 billion investment in affordable housing as part of a transformative 10-year plan to address the UK’s worsening housing crisis. The announcement will nearly double current spending on affordable homes, bringing the government closer to its ambitious target of constructing 1.5 million new homes during […]

Marks & Spencer has reopened its online ordering service, six weeks after a cyber-attack forced the company to halt online sales. The retailer has confirmed that customers in England, Scotland, and Wales can now place standard delivery orders, with services in Northern Ireland expected to resume in the coming weeks. Additional offerings such as click […]