Can a team of retail veterans solve Argos’ catalogue of woes? July 31, 2026 The death of the Argos catalogue in 2021 after nearly half a century prompted a period of mourning for many in Britain – including the retailer’s new owner. “I used to sit around the kitchen table putting green shield stamps into books,” Richard Pennycook said on Friday, referring to the original iteration of the catalogue. [...]
Sainsbury’s to sell Argos in £120m cut-price deal July 31, 2026 Sainsbury’s has said it will sell long-struggling catalogue retailer Argos for £120m, a fraction of the £1.4bn it bought it for a decade ago. The supermarket giant has struck a deal with Swift Partners – a new company led by On the Beach chairman Richard Pennycook and former Morrisons boss Trevor Strain. Their takeover will [...]
As it happened: Stocks reach new record as investors shrug off Iran war fears July 31, 2026 Welcome back to the City AM liveblog. It’s Friday morning and the FTSE 100 has opened into the green, following two consecutive days of record gains for the blue-chip index. London’s blue-chip index was up as high as 0.7 per cent in early trading to 10,971.88p, “The FTSE 100 tested new record highs on Friday morning as [...]
Currys hands outgoing boss Alex Baldock £2m pay rise July 30, 2026 FTSE 250 giant Currys has handed its outgoing boss Alex Baldock a more-than-£2 m pay rise, capping off the chief executive’s successful turnaround of the business. The electrical retailer handed Baldock a £6.3m total pay package this year, marking a 54 per cent hike from last year’s £4.1m. Baldock joined Currys in 2018 and is [...]
Rentokil shares slide almost 20 per cent as demand weakens in North America July 30, 2026 Pest control giant Rentokil’s share price slid 17 per cent on Thursday morning following a slow appetite from the North American residential market. The FTSE 100 firm’s shares tumbled on market open from 443.30p to 398.60p, despite reporting a 6.7 per cent rise in group revenue for the first six months of the year to [...]
As it happened: FTSE 100 hits new high after interest rates held July 30, 2026 Welcome back to the City AM liveblog. The Bank of England has held interest rates at 3.75 per cent in a 6-3 split. The City had pencilled in a hawkish hold from the Monetary Policy Committee after inflationary pressures were renewed on the latest round of strikes in the Middle East. Megan Greene, Catherine Mann and [...]
Greggs eyes 3,500 sites – but its plans could prove to be flaky July 30, 2026 Sausage roll titan Greggs is already a fixture of almost every British high street, but it’s not done yet. Felix Armstrong chews through its latest expansion plans As Brits jet off to Spain for their summer holidays this year, they will be met with a familiar sight as they touch down at Tenerife airport. Beloved [...]
Mike Ashley’s Frasers circles Burberry in latest luxury swoop July 29, 2026 Mike Ashley’s Frasers Group is eyeing up a holding in Burberry as its latest push into luxury fashion. Frasers has revealed that it holds the rights to a 4.2 per cent stake in the British fashion house, which would make Ashley’s group one of its biggest shareholders. The position is held through put options, which [...]
On a roll: Greggs shares soar as it doubles down on aggressive expansion July 29, 2026 Shares in Greggs soared on Wednesday as the bakery chain said it plans to reach at least 3,500 stores in the UK after a jump in profit in the first half of the year. The sausage roll purveyor reported a 20 per cent boost in pre-tax profit to £76m in the six months to June, [...]
As it happened: Stocks reach all-time high; US fires back at ‘surprise’ Iran attacks July 29, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Wednesday and the UK’s blue-chip index surged in early trading to reach an all-time high, brushing off the latest outbreak of attacks in the Middle East. The FTSE 100 hit 10,945 on the market open, eclipsing the previous intraday record of 10,934, achieved in February on the [...]