The Works activist investor hits back at retailer’s ‘absurd’ claims August 13, 2026 The activist investor seeking to gain a seat on the board at The Works has hit back at the discount retailer’s “absurd” claims the move would undermine its growth plans. Kelso, an activist investor, has criticised the AIM-listed retailer for urging shareholders to block its attempt to install retired private equity partner Graeme Coulthard as [...]
Mike Ashley’s Frasers snaps up Harvey Nichols August 13, 2026 Mike Ashley’s Frasers Group has bought Harvey Nichols, plucking the struggling luxury department store from the jaws of insolvency. The group, which also owns Sports Direct and Flannels, has acquired each of the chain’s stores, excluding the site in Dublin, from FTI Consulting through a pre-pack administration process. Frasers’ acquisition of Harvey Nichols marks the [...]
The Works braces for boardroom battle as activist investor pushes for more control August 13, 2026 Discount retailer The Works has been engulfed in a boardroom drama as a notorious activist investor pushes to install a retired private equity partner as a director. The retailer, which sells toys and arts and crafts, warned on Thursday that the attempted coup could “create unnecessary distraction [and] risk derailing” the board’s growth strategy. Kelso, [...]
Could a ‘land blocking’ rule change spell danger for Aldi and Lidl? August 13, 2026 German discounters Aldi and Lidl have rapidly taken control of the UK’s budget grocery market in recent years. But could new curbs on ‘land blocking’ slow their insurgency? Only a few decades ago, Lidl and Aldi were oddities. By 2008, the German discount supermarkets had been in the UK for more than 10 years but [...]
As it happened: FTSE 100 drops as Antofagasta prompts miner sell-off; oil prices cool August 13, 2026 Welcome back to City AM liveblog. The FTSE 100 dropped on Thursday morning, as the mining sector dragged on the blue-chip index. Antofagasta has fallen furthest, by nearly five per cent, after investors pounced on a production shortfall and cut to full-year guidance disclosed in its update this morning. This spook has weighed on the [...]
Labour’s ‘chaotic’ zero-hour crackdown could cost firms £3bn per year August 12, 2026 Labour’s ‘chaotic’ crackdown on zero-hour contracts could cost businesses nearly £3bn every year, though firms have warned the real cost could spiral even higher. The cost of the new rules, which include offering guaranteed-hour contracts to flexible employees and paying workers for cancelled shifts, has been revealed in a government impact assessment. The reforms could [...]
As it happened: FTSE 100 falls as Iran and US clash over Strait of Hormuz; Oil stockpiles ‘rapidly depleting’ August 12, 2026 Welcome back to City AM liveblog. Oil prices broke above $89 per barrel on Wednesday morning, notching the sixth consecutive sessions amid mixed signals around a potential deal between the US and Iran. The regime in Iran has said that the United States must end the war before they loosen their grip on the Strait of [...]
Brits think supermarkets are profiteering – despite slowing food inflation August 12, 2026 The majority of Brits think that supermarkets are profiteering from rising food prices caused by the Iran war despite the Chancellor John Healey recently admitting there was little evidence of the practice, new polling has revealed. Some 70 per cent of UK voters believe that supermarkets are making “excessive” profits from food inflation, according to [...]
John Lewis’ new boss faces a battle to boost online sales August 12, 2026 Another cloud appeared in an already gloomy sky for John Lewis on Monday, when its managing director, Peter Ruis, announced his surprise departure. Just days before, an internal interview with the group’s chair, Jason Tarry, was leaked to the press, in which he warned of a “really tough” period for the firm. Ruis’s decision to [...]
Burnham to crack down on vape and betting shops August 11, 2026 Andy Burnham is set to unveil a crackdown on vape and betting shops in a bid to boost British high streets, which the Prime Minister says have been “hollowed out” in recent decades. Burnham will on Tuesday set out plans to scrap the Blair-era “aim to permit” rule, which requires councils to accept planning applications [...]