OECD: Growth to remain below one per cent as UK economy struggles with unemployment June 3, 2026 What little growth the UK economy will experience this year will be fuelled by high government expenditure, according to the world’s top independent economic organisation. The OECD, the Organisation for Economic Co-operation and Development for long, said public expenditure would “support the economy” even as consumer spending and business investment is set to weaken. The [...]
Space X bumps back to earth as analysts slash value June 3, 2026 Morningstar analysts have valued Space X at $780bn (£579.9bn), a figure less than half of what the company is reportedly aiming for in its upcoming initial public offering. The valuation comes roughly 48 per cent below its private market valuation, with Elon Musk’s company looking for a valuation between $1.7 trillion and $2 trillion. The [...]
Ovo to cough up £10.4m for exposing vulnerable customers to harm June 3, 2026 Energy supplier Ovo is set to cough up a hefty sum after an investigation by the watchdog concluded that it had left vulnerable customers at risk of harm. The firm – which focuses on smart technology, green energy tariffs, and carbon-reduction goals – will pay £7m into Ofgem’s voluntary redress fund, which is used for [...]
As it happened: Stocks jitter on stalling US-Iran talks; OECD unemployment warning June 3, 2026 Welcome back to the City AM liveblog. Markets are being pulled in countless directions from the conflicting information emerging around the conflict in the Middle East. The FTSE 100 managed to shrug off some of these jitters yesterday and secure a finish 0.3 per cent higher as the price of oil slipped. But this morning [...]
Chelsea to hand Joao Pedro wage boost as club prepare for tough summer June 3, 2026 Chelsea face a difficult summer ahead following their failure to qualify for Europe, but Joao Pedro is set for a base-salary increase that may help them keep hold of one of their star players. The Brazilian forward – a £60m signing from Brighton last summer – was a rare bright spark in an otherwise gloomy [...]
Is ‘disinformation’ really one of the biggest challenges facing London? June 3, 2026 All power to the Lady Mayor and her newly assembled team of City leaders who want to shout from the rooftops about the strengths and assets of our great capital city. Dame Susan Langley will tonight launch a new campaign, Team UK, backed by some of the Square Mile’s biggest business and industry groups, with [...]
How Young’s is shrugging off hospitality gloom June 3, 2026 Like many of his Square Mile customers, Young’s boss Simon Dodd knows how to schmooze with booze. Three years ago, the listed pub chain exec invited rival Clive Watson, the founder of City Pub Group, for lunch at Smiths, the top-notch bar and grill atop Smithfield market, for a steak and a glass of wine. [...]
The Debate: Should CEOs be held personally accountable for cyberattacks? June 3, 2026 Is bad management to blame for cyberattacks? And even if not, should bosses be held accountable? We hear the case for both sides.
Municipal bonds could revolutionise Britain – but there’s a catch June 3, 2026 Municipal bonds could create genuine local economic autonomy. But they require infrastructural change to work, writes Tim Focas.
Freddie’s Flowers losses double after firm shuts London warehouse June 3, 2026 Freddie’s Flowers has incurred a more than doubling of its pre-tax losses after the firm closed its warehouse amid an outsourcing of operations. The London-based flower subscription business, which began operations in a gazebo in the garden of a residential street, posted a pre-tax loss of £2.1m in the year to August 2025, compared to [...]