Jobless Banquet: Youth unemployment surge ‘sends Neets to KFC’ August 18, 2026 A surge in youth unemployment has fuelled the rise of chicken shops across British high streets as young people not in work, education or training – known as Neets – have flocked to fast food, a consultancy has argued. Analysts at Baringa, a consultancy with more than 2,000 employees, have drawn a link between the [...]
Picky Brits: Heatwave fuels surge in finger food spending August 18, 2026 Record summer temperatures have driven a surge in “picky bits” spending as British shoppers rush to the chilled aisle in a boost to UK supermarkets. The sweltering heat is causing Brits to cut back their grocery bills, instead spending little and often on items like olives and quiche, according to figures from Worldpanel by Numerator. [...]
Mike Ashley’s Frasers ups stake in Hugo Boss after takeover bid August 18, 2026 Frasers Group has pushed up its stake in Hugo Boss to nearly half of the company, though Mike Ashley’s group misses out on full control of the luxury fashion brand. The Sports Direct owner has increased its portion of the German fashion house to nearly 48 per cent after offering €38 for every share in [...]
As it happened: FTSE 100 mixed; oil breaks $91 as Trump rules out new US-Iran ceasefire August 18, 2026 Welcome back to the City AM liveblog. Oil prices are marching higher after Donald Trump refused to extend the ceasefire between the US and Iran following its expiration on Monday. Brent crude – the international benchmark for oil prices – broke above $91 per barrel as tensions persisted over the Strait of Hormuz and a [...]
Burnham’s crackdown on ‘price-gouging’ splits supermarkets August 17, 2026 Tesco and Sainsbury’s have stood firm after the boss of Aldi hit out at loyalty discounts, as a “price-gouging” row threatens to divide British supermarkets. Giles Hurley, the chief executive of the discount grocer, has backed the government’s plans to clamp down on retailers which offer “misleading” discounts which do not offer real-terms value. Aldi [...]
Activist investor accuses The Works chair of working from home – in New Zealand August 17, 2026 The activist investor locked in a boardroom battle with The Works has accused its chair of switching his residence to New Zealand and dialling in to crucial meetings. Kelso, a London-listed investment fund, is pushing to appoint a director of its choosing to the discount retailer’s board, but The Works has slapped down the move, saying it [...]
As it happened: FTSE 100 drops as oil prices rise after Trump makes Hormuz threat August 17, 2026 Welcome back to the City AM liveblog. Oil prices have edged back up to more than $89 per barrel after the war of words between the US and Iran over the Strait of Hormuz continued over the weekend. Donald Trump has threatened to seize the narrow waterway and make it a US territory, marking a [...]
Back bookshops in bid to rebuild high streets, Burnham urged August 16, 2026 Leading authors have called on Andy Burnham to roll out emergency support to the UK’s small bookshops as part of his pledge to save Britain’s high streets. The bestselling writers, along with 200 booksellers, have written to the Prime Minister, urging him to set out a business rates relief package for bookshops as they contend [...]
Aldi boss wades into supermarket ‘price-gouging’ row August 16, 2026 The boss of Aldi has waded into the bitter row over whether supermarkets are profiteering off of struggling customers as he backed a government crackdown on “rip-off” discounts. Giles Hurley, the chief executive of the discount grocer, said the government is “right” to take on misleading discounts and promotions “in their work to tackle cost [...]
As It Happened: Stocks dip as oil’s ‘slowing demand’ in focus; Iran threatens to extend war August 14, 2026 Welcome back to the City AM liveblog. Oil prices are holding up at $87 per barrel this morning as investors remain locked in wait-and-see mode while monitoring new updates coming out of US-Iran negotiations and efforts to reopen the Strait of Hormuz. The Iranian regime handed a major blow to peace optimism after suggestining it could [...]