Estée Lauder and Charlotte Tilbury owner walk away from merger talks May 22, 2026 Cosmetics giant Estée Lauder has abandoned talks with the Spanish owner of Charlotte Tilbury over a merger which would have created a $40bn fashion powerhouse. Talks between the US cosmetics giant and Spanish beauty giant Puig ended on Thursday despite hopes that the merger could have helped both brands to compete with rival L’Oreal. Estée [...]
Carbon-cutting shipping executive wins Veuve Cliquot’s Bold Future award May 22, 2026 Sustainable shipping boss, Alisha Fredriksson, shared that she hasn’t been without challenges when it comes to earning support in a ‘male dominated industry.’ Despite launching a one of a kind, innovative business that garnered over £8m in funding and grants, she hasn’t been without challenges when it comes to earning support in the world of [...]
Lawyers for alleged Prince Andrew trafficking victim now in contact with Police May 22, 2026 The Police confirmed that they are “engaging” with the lawyers of a woman who claims she was trafficked for sex at Andrew Mountbatten-Windsor’s address in Windsor. In its first update on Friday, Thames Valley Police emphasised that if she wishes to report her allegations, they will be “taken seriously and handled with care, sensitivity and [...]
Morrisons blames Labour for closure of 100 lossmaking stores May 22, 2026 Morrisons has taken aim at Labour policy for “significant cost increases” as it announced the closure of 100 lossmaking stores. The supermarket chain said on Thursday that it will close the 100 unprofitable Morrisons Daily convenience stores, in a move which could affect hundreds of jobs. Morrisons has faced steep debt costs following its £7bn [...]
Cowes Week announces Horner-linked North Sails as title sponsor May 22, 2026 The Cowes Week sailing regatta has this morning announced the Christian Horner-linked North Sails as title partner. The Isle of Wight racing week, taking place in August, will now be sponsored by the sailmaker backed by Oakley Capital, which this week appointed former Red Bull Racing team principal as an advisor. Cowes Week is the [...]
Rachel Reeves oversees borrowing spike as benefits spending offsets tax haul May 22, 2026 Rachel Reeves oversaw a surge in borrowing in the first month of the financial year as April’s figures hit the highest since 2020 on higher benefit spend. Government borrowing – which marks the difference between total public sector spending and income – topped £24.3bn in April 2026, according to the Office for National Statistics (ONS). [...]
Retail sales plummet as Iran war hits consumer confidence May 22, 2026 Retail sales plummeted by 1.3 per cent in April, as Brits cut back on spending amid increasing pressure from the war in Iran. The huge fall in retail sales volumes in April was the largest since May last year and defied economists’ forecasts of a softer drop. This comes after a 0.6 per cent rise in [...]
Enhanced Games on metaphorical trial: is the risk worth it for partners? May 22, 2026 The Enhanced Games wants to sell itself as the future: faster, louder, richer and finally honest about the drugs elite sport has spent decades pretending do not exist. This weekend it lands in Las Vegas with a simple proposition. Let athletes use performance-enhancing drugs under medical supervision, put big prize money on the table, stream [...]
As it happened: Stocks jump on peace hopes; Reeves hit by falling retail sales and surge in borrowing May 22, 2026 Good morning and welcome back to the City AM liveblog. Oil prices remain volatile and heightened as peace talks in the Middle East continue to run into stumbling blocks. Brent crude futures were up to $104 this morning following reports that Iran’s Supreme Leader was ordering for the nation’s enriched uranium reserves to remain in [...]
Bilbao, Amsterdam, Milan: Where should Champions Cup rugby go next? May 22, 2026 The best thing about the Investec Champions Cup and EPCR Challenge Cup finals weekend is its location: Bilbao. It is not the first time the two premier continental fixtures have ventured to El Botxo – the San Mames Stadium hosted Leinster’s victory over Racing 92 in 2018 and Cardiff’s Challenge Cup win over Gloucester a [...]