Heathrow boss warns Burnham against Budget raid after hub’s tax bill doubles July 24, 2026 The boss of Heathrow has warned Andy Burnham against using business as a cash cow at his maiden Budget this autumn, after the airport’s tax bill more than doubled in the space of a year. Thomas Woldbye said the aviation sector is one of the most heavily taxed industries in Britain, and that uptick in [...]
Hilton, Butlins left fuming over business rates snub July 24, 2026 Hilton and Butlins have been left fuming after being snubbed by Andy Burnham’s pledge to slash business rates for pubs, clubs and music venues. The two hospitality giants said that hotels and resorts have been unfairly ignored by successive government interventions to cut the business rates bills of hospitality firms. Stephen Cassidy, senior vice president [...]
‘Dwarfed by other costs’ – Why cutting business rates for pubs won’t save the sector July 24, 2026 Andy Burnham has unveiled his long-awaited support for the UK’s struggling pubs, but the hospitality industry is contending with far more pressures than just business rates Andy Burnham’s pledge to cut business rates for pubs, clubs and music venues is expected to save each venue more than £1,000 next year in a move that comes [...]
Crystal Palace stadium set for £130m revamp with 25,000 seats July 24, 2026 Plans for the £130m refurbishment of a major 25,000-capacity south London stadium in Crystal Palace have been given the green light. The planning application for the renovation of the Crystal Palace National Sports Centre has been approved with the refurbishment set to feature a revamped swimming and diving pool, as well as a padel centre, [...]
West Ham United London Stadium deal costing taxpayers £19m a year July 24, 2026 The London Stadium deal between West Ham United and City Hall costs taxpayers £19m a year, the stadium company’s chair has revealed. A deal signed in 2013 between then Mayor of London Boris Johnson and bigwigs at the Hammers sees the former Premier League side pay £4.6m in rent per year, dropping this season due [...]
HSBC sells Singapore insurance arm to Allianz in £1.6bn deal July 24, 2026 FTSE 100 HSBC has agreed to sell its health and life insurance business to German insurance giant Allianz for $2.1bn (£1.6bn) as it refocuses its strategy on Singapore’s wealth management. The banking giant agreed to sell its Singapore business to Allianz in a transaction that is expected to be completed in the first half of [...]
Sky and ITV mount defence of £1.6bn merger as regulators probe deal July 24, 2026 Sky and ITV will argue their proposed £1.6bn merger controls only around a fifth of Britain’s advertising market as they seek to convince competition regulators to approve one of the biggest media deals in decades, City AM understands. The Competition and Markets Authority (CMA) on Wednesday invited comments on Sky’s planned acquisition of ITV’s Media [...]
Wise denied US banking licence in blow to expansion plans July 24, 2026 Shares in Wise plunged on Friday after the firm was denied a US banking licence by regulators, setting back the payments giant in its biggest growth market just months after it switched its primary stock market listing to New York. The London-founded fintech said the US Office of the Comptroller of the Currency (OCC) had [...]
Brits dodge the high street as heatwave boosts online shopping July 24, 2026 Retail sales jumped in June as the heatwave and heavy discounting drove Brits towards online shopping. The volume of retail sales jumped by one per cent in June, having slowed slightly from 1.2 per cent growth in May, according to the Office for National Statistics (ONS). Online shopping grew to the largest proportion of total [...]
As it happened: Stocks jump as oil drops below $100; Trump in tariff blitz July 24, 2026 Welcome back to the City AM FTSE 100 liveblog. Stocks jumped on Friday after oil eased back after reaching two-month highs on Thursday. The benchmark price of Brent crude oil slipped 4.1 per cent on Friday to $96.63 per barrel. Prices had surged to $100 following attacks by the Houthis, an Iran-backed militia based in Yemen, on [...]