Supermarkets call on Chancellor to ‘bring inflation to heel’ October 27, 2025 Britain’s largest supermarkets have called on Rachel Reeves to exclude all shops from upcoming changes to to business rates, warning that any hikes to their input costs would further stoke food inflation that is already at over double the Bank of England’s target. In an open letter to the Chancellor, bosses from the UK’s nine [...]
HSBC makes $1.1bn provision after Madoff fraud ruling October 27, 2025 FTSE 100 banking giant HSBC has set aside just over a billion dollars following the resolution of an investment fraud case in Luxembourg. HSBC faced a lawsuit from Cayman Islands-based ‘feeder fund’ Herald Fund SPC in 2009, which accused the bank of claiming restitution of securities and cash that it said was lost in the [...]
Thousands of jobs at risk as Petrofac appoints administrators October 27, 2025 North Sea oil and energy services group Petrofac has appointed administrators, putting thousands of jobs at risk. The company said it took the decision after one of its customers, TenneT, terminated its relationship over a 2GW energy programme in the Netherlands. “Having carefully assessed its options, and the impact of TenneT’s decision… the directors of [...]
FTSE 100 Live: Goodwin shares soar, HSBC $1.1bn Madoff hit, Petrofac administration October 27, 2025 Good morning from the City AM liveblog team. Rachel Reeves likes to insist that she will “never play fast and loose with the public finances.” It’s a phrase she deploys quite often, not least when it looks as if the bond market could do with a bit of reassurance, and it means that she won’t [...]
On this day: Big Bang hits the Square Mile October 27, 2025 On this day, 27 October 1986: Big Bang hits the Square Mile, and changes the City forever. Eliot Wilson takes us through it.
Almost two thirds of charities axe jobs and services over financial strain October 27, 2025 Almost two thirds of charities have axed workers and vital services as they come under pressure from falling income, staff burnout and declining public donations, according to new research. The vast majority have warned they are considering leaving their roles amid intense conditions in the sector, experts at Rathbones have warned. Research by the investment [...]
JD Sports-owned Go Outdoors returns to profit but cuts more jobs October 27, 2025 Go Outdoors, the retailer owned by FTSE 100 giant JD Sports, returned to profit as it cut more jobs in the wake of Chancellor Rachel Reeves’ tax hikes, it has been revealed. The business said it has reduced its headcount as it “faced significant cost headwinds” including the increase in the National Living Wage, a [...]
Number of female high-earners hits record high October 27, 2025 The number of female high-earners in the UK has hit a record high, as more women find themselves holding senior positions in the workplace. According to analysis from Bowmore Wealth Group, the number of high-earning women, those who earn over £125,000 and pay the top rate of income tax, jumped by 12 per cent to [...]
JD Gyms eyes UK expansion after putting millions into refurbs October 27, 2025 JD Gyms is set to open its 100th gym in the UK as the chain muscles in on the 24-hour fitness sector and sets its sights on further expansion. The Wigan-based chain, which is part of the global retail group JD Sports Fashion, will mark the milestone with the launch in Enfield, north London, in [...]
Next expected to reveal sales momentum despite consumer pressure October 26, 2025 Next is expected to report further growth for the past quarter as the high street chain continues to shrug off the squeeze on consumer finances. Shares in the company lifted on Friday to a new record high as investors continue to buy into the group. The company has been a consistent bright spot across the [...]