Nelson Peltz’s son calls for Intertek to engage with £10bn offer May 12, 2026 Matt Peltz, the son of billionaire activist investor Nelson Peltz, has called on FTSE 100 testing firm Intertek to accept the latest £10bn offer by a Swedish private equity firm, as investors clash over whether the board should sell up. The buyout firm submitted its fourth offer on Tuesday morning, which valued shares at £60 [...]
On the Beach shares slide as Brits delay booking holidays May 12, 2026 On the Beach has suffered one of its biggest-ever single-day stock selloffs amid investor fears over a slowdown in holiday bookings. Shares in the Manchester-based business plunged 17 per cent to 140p after the London-listed business said it saw a more than 12 per cent fall in sales to £52.2m for the six months to [...]
Barclays and Lloyds shares sink as political storm puts banks in tax sights May 12, 2026 The UK’s banking giants led a major sell-off across the FTSE 100 this morning as a combination of political hazards hit the London stock market. Barclays was the top faller on the index shortly after market open, shedding over four per cent to 410.65p. Natwest was not far behind, also losing over four per cent [...]
As it happened – Starmer fights for premiership in make-or-break speech May 11, 2026 Welcome back to the City AM liveblog. Sir Keir Starmer will deliver a speech to the nation this morning as rivals circle whilst his premiership hangs in the balance. The Prime Minister is expected to set out his response to the disastrous local elections, where Labour lost 1,496 seats. The losses came as Nigel Farage’s [...]
London local election results LIVE: Brown returns as Labour bruised in five-party split May 9, 2026 Good morning and welcome back to the City AM liveblog. Former Prime Minister Gordon Brown has returned to support Sir Keir Starmer’s premiership as a special envoy for global finance. The appointment was made after bruising election results across the country, particularly in Wales and Scotland where Labour lost control. Starmer resisted calls for his [...]
UK borrowing costs waver as Starmer insists he will not ‘walk away’ May 8, 2026 Government borrowing costs – which are reflected in changes in gilt yields – have edged lower as City traders were calmed by Sir Keir Starmer’s insistence that he would not “walk away”. Gilts were the best performing government bonds out of any G7 nation on Friday morning as 10-year yields dropped by around eight basis [...]
FTSE 100’s Intertek rejects sweetened £10bn bid from EQT May 8, 2026 Board of the testing firm unanimous is saying 5,800p price tag ‘undervalues’ the group FTSE 100 constituent Intertek has rejected the latest bid for the testing company from Swedish private equity firm EQT, saying the £10bn, 5,800p-per-share offer “significantly undervalues” the group. Friday’s rebuttal was the third consecutive knock-back, following previous cash offers at 5,150p [...]
UK investors return to equities after 10 month selling stint May 7, 2026 UK investors ended an equity inflow drought in April, bringing an end to a 10-month-long selling spree. UK investors added £1.1bn in equity funds last month, according to the latest fund flow index from Calastone, marking the best month of inflows since April 2025. But flows were concentrated, with investors opting to commit capital to [...]
FTSE 100 Live: Stocks down on election day; oil back below $100 as Iran deal hangs in balance May 7, 2026 Good morning and welcome back to the City AM liveblog. It’s local election day in the UK and Keir Starmer’s premiership is hanging in the balance as his Labour Party prepares to take a drubbing in council boroughs across the country. Gilt yields rose at their fastest rate earlier this week as the market prepares [...]
City watchdog probes Mastercard, Visa, Paypal for alleged anti-competitive conduct May 6, 2026 The City watchdog has confirmed it is investigating a trio of payments giants over alleged anti-competitive conduct. The Financial Conduct Authority (FCA) will probe Mastercard, Paypal and Visa under the Competition Act 1998 regarding its suspected conduct related to the “funding and usage” of Paypal’s digital wallet. Paypal’s digital wallet is an app-based system that [...]