A bank tax hangs in the balance at the local election ballot May 6, 2026 As speculation of a leadership challenge – or sweeping reshuffle – surrounds the forthcoming local elections, in this week’s column Samuel Norman looks at what a change in Chancellor would mean for the banking sector. It is no secret that Thursday’s local elections carry a weight far heavier than the fate of a few neighbourhood [...]
HMRC handed red card in £584,000 football referee tax lawsuit May 5, 2026 HMRC has lost a long-running legal battle against the UK’s football refereeing body over the employment status of 60 referees, after the tax authority issued a £584,000 tax bill. In a judgment on Friday, the First Tier Tribunal (FTT) upheld that the referees were self-employed and not employed by the body, the Professional Game Match [...]
Corvera co-founder: Brits have it too comfortable May 5, 2026 The boss of Corvera has said Brits take a too comfortable, risk-averse approach after moving his AI startup from London to San Francisco. Corvera co-founder and chief executive Christopher Kong, an Oxford graduate who launched a fast-growing vegan food range before setting up the AI business in October last year, said he found it easier [...]
Aryna Sabalenka raises Grand Slam boycott threat as pay row escalates May 5, 2026 Women’s world No1 Aryna Sabalenka has warned that top tennis players will boycott Grand Slams if their demands for more prize money and benefits continue to be resisted. Sabalenka was among a group of stars who criticised French Open chiefs at the weekend for failing to heed their calls, which have also been directed at [...]
London City 7s returns with capital crying out for live rugby May 5, 2026 Dan James, founder of the London City 7s, pens his first of a new monthly column on short-form rugby in the capital. Rugby sevens has long been the better looking but somewhat inconsequential younger cousin of the traditional 15s game. If you were lucky enough to be one of the 113,000-plus fans in the record-breaking [...]
Motor finance provider faces administration amid £9bn redress fallout May 5, 2026 Blue Motor Finance is reportedly on the verge of administration after a series of financial setbacks and pressures stemming from the City regulator’s planned £9bn motor finance redress scheme. The independent motor finance provider is said to be facing a redress bill of over £50m, having lent over £1bn to over 120,000 customers – as [...]
Trump officials claim Iran is ‘weaponising global trade’ May 5, 2026 The United States’ most senior military officer has warned that Iran’s sustained assault on commercial shipping threatens to destabilise the world economy, accusing the country’s leadership of deliberately weaponising the global supply chain. General Dan Caine, the former venture capitalist currently serving as chairman of the US joint chiefs of staff, made a stark intervention [...]
OpenAI listing plans hit as Altman scraps robotics spin-off idea May 5, 2026 Tech behemoth OpenAI internally shelved plans to spin off its robotics and consumer hardware divisions, as chief executive Sam Altman tightens focus ahead of a potential IPO that could value the company at up to $1 trillion (£737bn). The proposed restructure, as first reported by the Wall Street Journal, would have mirrored Alphabet’s model, separating [...]
Coinbase to slash 14 per cent of workforce amid AI impact and market volatility May 5, 2026 Crypto exchange Coinbase is planning to cut 14 per cent of its workforce just two days head of its next earnings report, citing a need to manage costs amid ongoing market volatility and advances in AI. Chief executive Brian Armstrong said on Tuesday that AI was speeding up certain processes meaning fewer employees were required [...]
Alvarez & Marsal poached FTI heads as firm seeks to challenge Big Four giants May 5, 2026 Management consultancy firm Alvarez & Marsal has poached its second FTI name to join its recently launched reputation advisory practice as it seeks to challenge the Big Four. The newest recruit, senior director Tom Hufton, joins managing director Rob Mindell to lead the practice, City AM can reveal. The firm’s new practice, launched at the [...]