Doubts over £458m gambling tax plan emerge days before Budget October 23, 2026 A week before the Budget, questions have emerged about the evidence behind a proposed £458m gambling tax rise, after internal comments revealed doubts among the campaigners that were pushing for the increase. The Betting and Gaming Council (BGC) told City AM that the comments, which appeared in a draft report by the Social Market Foundation [...]
How John Healey clamped down on Treasury speculation October 23, 2026 Since entering Downing Street in July, John Healey has faced criticism from some business chiefs over an economic vision that seems similar to Rachel Reeves. But one aspect of running the Treasury has split Healey from his predecessor more than any other: keeping a lid on Budget rumours. After being appointed Chancellor, City AM can [...]
Top Premier League clubs to be billed £1.8m each for Independent Football Regulator October 23, 2026 Top Premier League clubs will be asked to pay almost £2m a year towards the running of the Independent Football Regulator after the watchdog published its proposed levy. The IFR’s costs will be recouped via a tax on clubs from next year, with those teams earning the most set to contribute the biggest portion of [...]
Tesla-SpaceX merger could fuel AI spending spree across Musk’s $3.5 trillion empire October 23, 2026 Elon Musk’s proposed $3.5 trillion (£2.6 trillion) merger of Tesla and SpaceX could unlock a wave of AI investment, giving the billionaire greater access to cash and borrowing power as he races to expand his tech empire. Analysts said combining the two businesses could help Musk fund his increasingly expensive AI ambitions, bringing together Tesla’s [...]
London Irish target pro return next year after takeover by Essex entrepreneur October 23, 2026 London Irish are targeting a return to the English professional pyramid next season after being acquired by rugby-loving Essex energy entrepreneur Steve Daniels. Gamechanger Investments, led by Daniels, has bought the name, brand and associated intellectual property relating to the historic club, which went out of business in 2023, from Kyle Jordan, son of late [...]
William Hill owner blames Man City dominance for revenue drop October 23, 2026 The dominance of Manchester City and Arsenal football clubs at the summit of English football has dented earnings at the owner of gambling giant William Hill. Evoke reported that third quarter revenue was between one and two percentage points lower than it might have been because of a string of what it called “particularly customer-friendly [...]
Fifa boss Infantino’s re-election bid boosted as Asian chiefs complete spectacular climbdown October 23, 2026 Asian football chiefs have U-turned and backed Fifa president Gianni Infantino for re-election just weeks after accusing him of “a fundamental breach of trust”. The move is another nail in the coffin of the bid to oust Infantino over his secret World Cup sell-off plan and leaves European governing body Uefa increasingly isolated in opposition. [...]
High-cost loans firm Evlo eyes £200m sale in sign of subprime comeback October 23, 2026 High-cost lender Evlo has tapped bankers for a sale which could fetch the company a valuation of more than £200m, City AM can reveal, in signs of a revival of dealmaking in the controversial sub-prime lending market. Evlo, which calls itself ‘the friendly UK lender’ and offers loans at interest rates of up to 252 [...]
Aquis firm scraps failed Bitcoin treasury strategy after admitting ‘challenges’ October 23, 2026 An Aquis-listed firm will no longer allow shareholders direct exposure to Bitcoin after admitting the strategy damaged its balance sheet. Vaultz Capital transitioned into a pure-play Bitcoin treasury company in mid-2025, raising funds to purchase the cryptocurrency and use it as its primary reserve asset over cash. While the move initially raised £13.6m, the stock [...]
Boohoo eyes £100m profit as online seller revives fortunes October 23, 2026 Fast fashion firm Boohoo has set its sights on a £100m profit after emerging from years of consecutive losses. The London-listed firm, which owns Debenhams, Karen Millen and Pretty Little Thing, said its turnaround plans are “significantly ahead” of schedule after producing its first pre-tax profit since 2021. Boohoo has endured a rocky few years, [...]