KPMG Australia boss resigns amid whistleblower scandal May 29, 2026 The boss of KPMG Australia has resigned after the firm admitted to severely mishandling a whistleblower report on client confidentiality breaches. The scandal was prompted by a whistleblower who alleged that client documents were inappropriately shared with the senior leadership team, including the chief executive, which prompted an internal investigation. But the investigation did not [...]
Ocado shares rocket after striking Asda home deliveries deal May 29, 2026 Supermarket giant Asda has struck a deal with Ocado for the grocery technology company to take over all home deliveries from next year, as it looks to completely overhaul its online shopping business. Ocado will “quickly replace and upgrade” Asda’s existing e-commerce structure, taking control of the supermarket’s delivery operations form stores and warehouses from [...]
Uber wants your journey on tape as safety concerns mount May 29, 2026 Uber is turning passengers’ phones into in-car recording devices as the ride-hailing giant introduces a new feature allowing users to capture audio during journeys amid growing concerns around safety and identity verification. From Thursday, riders across the UK were able to press record before or during trips directly through the Uber app, with encrypted audio [...]
Burnham hits back at Blair with more state control for ‘good growth’ May 29, 2026 Andy Burnham has called for stronger state intervention in the economy to deliver what he calls “good growth,” lashing back at Tony Blair’s blueprint for Labour’s future direction. The Greater Manchester mayor conceded areas of agreement with the three-time election winner — notably on the importance of economic growth— but accused Blair of a “gaping [...]
Top banks urge Rachel Reeves to expand small business lending scheme May 29, 2026 Top UK banks are lobbying Rachel Reeves to beef up the government’s small business lending scheme in a bid to unlock more capital to be lent to firms. A letter penned by UK Finance – the banking industry body that represents the likes of Barclays, Lloyds and Natwest – has called for the Chancellor to [...]
Private equity boom slows down as the deal bar rises for City firms May 29, 2026 Private equity interest in professional services remains, but the era of easy deals is over as most attractive targets have already been acquired, and investors are now more selective, writes Maria Ward-Brennan. The bubble around private equity interest in the professional services industry has started to deflate, as most of the “low-hanging fruit” has already [...]
£450m City block approved after developers lop three storeys of plan May 29, 2026 Revised plans for a new £450m tower in the City have been rubber-stamped by the Square Mile’s planning committee after developers chose to lop three stories off the building’s design in response to fierce local criticism. The City of London Corporation greenlit an adjusted proposal for the 1 Silk Street mega-scheme on Thursday, saying it [...]
As it happened: Stocks rise on Iran peace hopes; Asda and Ocado deal May 29, 2026 Good morning and welcome back to the City AM liveblog. After investors kicked into sell-off mode on Thursday amidst spiking tensions as the US and Iran exchanged strikes, attention is quickly turning back to hopes of a peace deal this morning. US and Iranian negotiators are reported to have reached an agreement on a 60-day [...]
Champ Rugby: Bedford vs Worcester shows strength of second tier May 29, 2026 This Sunday afternoon at Bedford Blues’ Goldington Road could be pandemonium. The home team take on Champ Rugby giants Worcester Warriors looking to be crowned winners of English rugby’s second tier. But what’s the point, when you cannot get promoted? Well it is the continued proof that the Champ is and can be competitive, where [...]
Reeves’ summer of fun won’t deliver growth May 29, 2026 Instead of attempting to stimulate demand, Reeves should focus on helping hospitality from the supply-side, writes Matthew Bowles.