UK services sector hit with record cost inflation spike after fuel prices surge April 23, 2026 Businesses recorded cost inflation at the highest level since the aftermath of Liz Truss’ chaotic mini-Budget in April as the consequences of the Iran war continued to ripple through the economy. A rapid increase in raw material prices led to a jump in costs for the manufacturing sector but the UK’s all-important services sector – [...]
Asos shares uptick despite narrowing losses April 23, 2026 Asos shares are up by more than 3 per cent on Thursday as the online fashion giant focuses on efforts to bear down on its losses. The group cut its pre-tax loss by more than £100m to £137.9m for the six months to the beginning of March, while revenue slid 14 per cent to £1.1bn. [...]
Santander hits pause on €5bn buyback after US takeover April 23, 2026 Santander has been forced to hit the pause button on its bumper buyback programme announced earlier this year to comply with US regulation. The Spanish-headquartered bank told markets on Thursday it would temporarily suspend the €5bn (£4.3bn) buyback launched in February to comply with US regulation around its takeover of Webster. The lender struck a [...]
FTSE 100 Live: Stocks slump as oil rises; Reeves tax hikes trigger borrowing boost April 23, 2026 Good morning and welcome back to the City AM liveblog. An extended ceasefire may have been announced in the Middle East, but its left markets with major appetite for further peace before investor sentiment recovers. Brent crude – the international benchmark for oil prices – was trading back over the $100 mark on Thursday morning. [...]
Motor finance: City watchdog faces legal battle over £9bn scheme April 22, 2026 The City watchdog is set to face a legal challenge to its motor finance redress scheme after being accused of leaving motorists “out of pocket”. The Financial Conduct Authority (FCA) revealed its highly-anticipated £9.1bn scheme at the end of March, which cut the headline bill for lenders from £11bn. But Consumer Voice – a group [...]
Barclays sweetens mortgage deals as interest rate decision takes focus April 22, 2026 Barclays has become the latest bank to wade into the flurry of mortgage rate cuts as lenders turn their attention to next week’s interest rates decision. The FTSE 100 giant cut rates across more than 20 mortgage products from Wednesday morning. It follows on from a slew of reductions from the likes of HSBC UK, [...]
Gold and silver surge as Hochschild helps London’s mining stocks shine April 22, 2026 Hochschild Mining revealed a near 40 per cent rise in the average price of the gold it produces this morning, burnishing the appeal of a sector with a long history in the City. The news propelled shares in the £3bn, 100-year-old firm onto the leaderboard of the FTSE 250. Hochschild’s stock strode over 2% higher [...]
FTSE 100 Live: Stocks jitter as inflation surges; Trump extends ceasefire April 22, 2026 Good morning and welcome back to the City AM liveblog. Inflation has surged this morning follow the outbreak of war in Iran. Fresh figures from the Office for National Statistics (ONS) has shown the consumer price index rose by 3.3 per cent in the 12 months to March 2026. That’s up from three per cent [...]
Admiral CEO attributes FTSE giant’s staff retention to share awards scheme April 22, 2026 FTSE 100 insurance giant CEO Milena Mondini tells senior reporter Maria Ward-Brennan that Admiral’s share awards plan has significantly contributed to staff retention. Admiral Group stands out as one of the UK’s most successful insurance companies, with an internal focus on staff retention and employee happiness. CEO Milena Mondini told City AM, “We wanted people [...]
Inside the fintech industry’s pensions gambit April 22, 2026 The fintech industry are on the offensive and in this week’s column Samuel Norman gives an insight into the sector’s lobbying calls for pension fund allocation. London has found itself brought to a halt this week. One may have thought the Tube strikes would bring Square Mile to a standstill, too. But the lack of [...]