FTSE 100 Live: Stocks drop after Trump threatens harder strikes on Iran; Oil at four-week high Markets Welcome back to the City AM liveblog. Oil prices have reached a four-week high after the Strait of Hormuz became too unsafe for ships travel through following the exchange of strikes between the US and Iran. Brent crude – the international benchmark for oil prices – tipped over the $87 per barrel mark on Tuesday [...]
Tom Kerridge: No good restaurant has ever been run by accountants Hospitality No good restaurant or pub has ever been run by accountants, celebrity chef Tom Kerridge told City AM as he pushes for a VAT cut for hospitality firms. The TV personality and restaurateur has spearheaded lobbying efforts for the government to slash VAT for hospitality companies, a move which he says would offer the struggling [...]
Burnham risks ‘breaking manifesto’ without business rates reform Retail Andy Burnham has been warned that he risks breaking Labour’s manifesto if he does not go further in his plans to overhaul the business rates system. The Prime Minister-to-be has been urged by hospitality and retail industry figures to expand his plans to modify a business rates system which they say unfairly disadvantages high street [...]
Mike Ashley’s Frasers muscles in on Harvey Nichols sale July 14, 2026 Mike Ashley’s Frasers Group has gatecrashed the sales process for Harvey Nichols, defying the initial objections of the luxury department store’s brand partners. The fashion group, founded by billionaire Ashley, has successfully entered into the auction for the high-end retail group after demanding it be allowed to take part, City AM understands. Harvey Nichols had [...]
Debenhams owner could sell brands to slash debt July 14, 2026 Debenhams Group could sell off some of its brands in a bid to eliminate its £90m debt, as the fashion firm continues its turnaround. The group, which owns the eponymous former department store as well as Boohoo and Pretty Little Thing, plans to slash its debt to below the level of its pre-tax earnings and [...]
As it happened: FTSE 100 recovers after oil surge dampens mood; Strikes in the Strait of Hormuz July 14, 2026 Welcome back to the City AM liveblog. Oil prices are marching higher after the latest wave of military action in the Middle East following the US reinstating its blockade on imports from Iran. Brent crude – the international benchmark for oil prices – surged above $84 per barrel on Tuesday, bringing gains for the week [...]
Burnham urged to go further to fix ‘broken’ business rates July 14, 2026 Incoming Prime Minister Andy Burnham must broaden his plans to reform the “broken and unsustainable” business rates system, hospitality and retail industry leaders have warned. The former mayor of Greater Manchester has already pledged to slash business rates for high street firms but a coalition of trade bodies has urged him to go further. Ros [...]
Heatwave slows retail sales but World Cup boosts online shopping July 14, 2026 June’s scorching heat slowed retail sales, but Brits opted to shop from home instead, sending online sales soaring. Total retail sales in the UK slowed from 3.7 per cent in May to 1.9 per cent in June year on year, in line with this year’s average growth rate, according to the British Retail Consortium (BRC). [...]
Burberry boss faces shareholder revolt over bumper £9.4m pay package July 13, 2026 Burberry is bracing for a shareholder revolt over a new pay package which could hand the fashion house’s boss nearly £4m in extra bonuses. The British fashion house, known for its iconic trench coat and checked scarves, wants to change its bonus pay structure to allow it to hand chief executive Joshua Schulman a shares [...]
London-listed firm cheers surge in demand for ‘dog wash machines’ July 13, 2026 Europe’s biggest photobooth operator has expanded into user-operated dog washing machines in a bid to recover from an Iran war hit to profit. ME Group, which operates laundry machines and photo booths across the UK and Europe, said it is rolling out hundreds of dog wash machines in a bid to drive growth. The FTSE [...]