As it happened: Choppy day for FTSE 100 after Iran closes Strait of Hormuz as strikes ramp up July 13, 2026 Welcome back to the City AM liveblog. Markets are returning from the weekend to face another geopolitical shock after Iran confirmed it had closed the Strait of Hormuz once more. The narrow waterway that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea had slowly seen a pick up in traffic [...]
Hogan Lovells Cadwalader looks to tap transatlantic dealmaking boom following merger July 13, 2026 Global law firm Hogan Lovells Cadwalader is looking to grab more of the private capital market from rivals and tap into a boom in transatlantic dealmaking following the City firm’s merger with the oldest legal practice on Wall Street. UK managing partner Penny Angell told City AM the merger creates “a stronger bench” for the combined companies [...]
Businesses slam brakes on hiring over Burnham uncertainty July 13, 2026 The UK’s lofty tax bill and concerns surrounding the direction of an Andy Burnham premiership have led to a subdued jobs market, new research suggests, as employers pause hiring whilst they wait for further clarity on the likely incoming Prime Minister’s tax policies. Available jobs in London slumped five per cent in the second quarter [...]
Associated British Foods rises to bread battle with Warburtons July 12, 2026 Associated British Foods is taking on bread giant Warburtons with its Hovis merger. Could this be the biggest thing since sliced bread for the FTSE 100 giant? One of the London Stock Exchange’s biggest stalwarts is ditching the wardrobe and betting on the bread bin. Associated British Foods (ABF), which has been listed on the [...]
UK economy tipped to stall as Iran war chokes growth July 12, 2026 The UK’s economy is expected to stall another month as the Iran war continues to choke growth and some industries face slowing output. Gross domestic product (GDP) is expected to have slipped again by 0.1 per cent in May, according to some economists. The UK’s growth update, delivered by the Office for National Statistics (ONS) [...]
Reeves: Burnham will face ‘shocks and challenges’ as Prime Minister July 12, 2026 Rachel Reeves has warned Andy Burnham that he will face “shocks and challenges” as he takes the reins as Prime Minister and will need a “worked through plan” to govern. The Chancellor said that the incoming Prime Minister “needs to stay laser-focused on those things that have always motivated him” as he enters Downing Street [...]
Fifa World Cup had amazing stadiums, 2035 UK edition must too July 12, 2026 The Fifa World Cup is coming to an end and it has taught us that stadiums are crucial to a good bid, Maria Knutsson-Hall writes. With nearly 40 days of men’s Fifa World Cup fever coming to an end, it is worth taking a moment to consider the health of the Women’s game at this [...]
Strait of Hormuz ‘closed’ as Iran and US exchange strikes July 12, 2026 Iran has declared the Strait of Hormuz closed as it trades fresh strikes with the US over the alleged unauthorised passage of a ship through the vital trade route. The Islamic Revolutionary Guard Corps said on Sunday morning that the waterway, which usually accounts for a quarter of the world’s maritime oil trade, will be [...]
Why Fifa World Cup players are drowning in commercial red tape July 12, 2026 Joshua Charalambous and Ellie Chakarto take a look at why this World Cup is restraining its stars A lot has been made about the star power at the Fifa Men’s World Cup – goals for Erling Haaland, Kylian Mbappe, Harry Kane and Lamine Yamal – and of course, Lionel Messi and Cristiano Ronaldo who both [...]
Europe has made a ‘major mistake’ on slow electrification, IEA chief warns July 11, 2026 The head of the International Energy Agency has warned Europe made a “major mistake” by failing to end its economy reliance on imported fossil fuels quickly enough since the 2022 energy crunch. Fatih Birol said Europe’s low electrification rate, electricity’s share of the energy consumed in the EU, of roughly 23 per cent is holding [...]