Here comes Elon: Tesla wins licence to supply electricity in Britain March 12, 2026 Tesla has been granted approval to supply electricity to homes and businesses across the UK, opening the door for the electric vehicle giant to enter the country’s retail energy market. Energy regulator Ofgem confirmed on Thursday that Tesla Energy Ventures Limited, a subsidiary of Musk’s company, has been granted an electricity supply licence by the [...]
On the Beach shares tumble as it tears up guidance amid bookings slowdown March 12, 2026 On the Beach has torn up its guidance for the forthcoming year after warning that tensions in the Middle East have sparked a sharp slowdown in bookings. The online travel agent previously forecast pre-tax profit of between £39m and £43m. “Whilst the group has limited exposure to destinations in the Middle East, it has experienced [...]
Savills shares slide as Middle East war shakes property market March 12, 2026 Shares in property giant Savills slid eight per cent as the Iran war shakes the confidence of the UK’s property market. The FTSE 250 firm’s share price fell by 7.98 per cent on Thursday to 922p, leaving the stock down six per cent in the year so far. Adam Vettesse, market analyst at eToro said [...]
Shawbrook shares dive after profit jump on bullish AI plans March 12, 2026 Shawbrook Bank reported a jump in profit for the last year in its first set of first set of financial results since its landmark IPO in October. The London-listed bank reported a pre-tax profit of £340.5m, up from £293.8m the year prior as costs tumbled and the group’s loan book swelled. Still, the firm’s shares [...]
John Lewis reinstates staff bonus but remains ‘cautious’ March 12, 2026 John Lewis has returned its staff bonus after years of its suspension, as the retail titan turned a profit but remains “cautious” in a testing retail environment. The partnership, which also owns Waitrose, made a £134m profit in the year to January 2025, up six per cent from the year before, and notched growing sales [...]
Horse racing came together to fight tax hikes. Now it must unite again March 12, 2026 The Jockey Club’s chief executive’s recent rallying cry to British horse racing was bang on, writes Ed Warner. All successful sports have tentpole events, the occasions that attract attention well beyond hardcore fanbases and which drive profits that may (although not always) provide financial scaffolding for its lesser players and promoters. The Cheltenham Festival is [...]
FTSE 100 Live: Stocks drop as oil returns to near $100 after tankers attacked March 12, 2026 Good morning and welcome back to the City AM liveblog. The price of oil shot back above triple digits this morning, rising as much as nine per cent in Asian trading following the news two tankers were struck in the Gulf. An Iraqi news agency broke the news that 38 crew members have been rescued [...]
The Capitalist: Lloyds teases wannabe buyers with ‘homebuying tasting menu’ March 12, 2026 Lloyds launches a dining special, private jets welcome puppies on board and City AM takes home gold; catch up on the latest City gossip.
Closed shop? Not for long: How new laws are opening doors for trade unions March 12, 2026 The first wave of the Employment Rights Act hit the statute books last month, signalling a potential end to the decades-long decline of UK trade unions, but businesses are already feeling the turbulence, triggering a surge of work for City employment lawyers. The Employment Rights Act has caused turmoil in businesses, not just because of [...]
Mandelson files pose huge questions for Starmer March 12, 2026 What was Keir Starmer thinking? That’s not a rhetorical question; I really do want to know (because I cannot imagine) what the Prime Minister was thinking when he signed off the decision to send Peter Mandelson to Washington. It was the first week of February when, during an excruciating performance in the Commons, Starmer admitted [...]