UK insurance sector calls for more adverse weather protection July 24, 2025 The UK insurance sector has called for more adverse weather protection as a “challenging new era” places increasing pressure on insurers. In the first quarter of 2025, British insurers paid out a record high of £226m in weather-related claims, surpassing the previously held record of £67m in 2022. Industry paid an eye-watering £585m for weather-related [...]
Swatch moves London headquarters to new Canary Wharf office space July 24, 2025 Swatch has signed a five-year lease for 9,500 sq ft of office space in a multi-purpose office building in Canary Wharf. The watches and jewellery manufacturer will move its London headquarters from Dockside Road to Docklands site Sierra Quebec Bravo (SQB). Swatch did not respond to a request for comment and did not disclose the [...]
Markets live: Tesla shares tumble, ECB holds rates, FTSE 100 sets fresh record July 24, 2025 Shares in Tesla have tumbled as much as 9 per cent in the opening minutes of US trade after Elon Musk said the company was in a “weird transition period” as it coped with the end of US tax incentives on electric cars, shifting tariffs, and regulatory uncertainty around self-driving cars. The European Central Bank [...]
Labour’s OpenAI deal lacks transparency July 24, 2025 The Labour government’s newly announced partnership with OpenAI has positioned the UK at the centre of a global discourse on the future of artificial intelligence in public services. The memorandum of understanding (MoU), signed on Tuesday by tech secretary Peter Kyle and OpenAI chief Sam Altman, sets out a framework for collaboration across sectors like [...]
The Ned boss Gareth Banner interview: This brand is just getting started July 24, 2025 “Ten years ago, people would have laughed at the idea of doing something like this…” Gareth Banner is talking about City AM’s new Toast the City Awards celebrating all the things that make the Square Mile great, for which he has signed on as a judge. And Banner knows a thing or two about the [...]
UK sees ‘small burst’ in hiring in sign of growth July 24, 2025 The UK labour market saw a “small burst” in demand for jobs in June but postings remain below levels seen last year, fresh data has found, with brutal tax rises introduced in April by Chancellor Rachel Reeves weighing on employers. In new jobs figures published by the Recruitment and Employment Confederation (REC) and Lightcast, the [...]
Savills cuts estimate for house price growth over next two years July 24, 2025 Savills has cut its estimate for house price growth over the next two years as caution stalls the housing market, but expects looser mortgage rules to boost in the market in the medium term. The real estate giant cut its forecast for house price growth in 2025 from four per cent to one per cent, [...]
How a slow burning legal battle could cost UK supermarkets millions July 24, 2025 UK supermarkets are struggling through turmoil but quietly in the background, an ongoing legal battle is unfolding that could cost them millions
EXCLUSIVE: The Ned to launch members’ club in the countryside amid aggressive growth plans that echo Soho House July 24, 2025 City icon The Ned is set to open a “rural” estate in the UK as part of an aggressive expansion plan, with a first outpost in mainland Europe also in the pipeline. Group managing director Gareth Banner told City AM the company has three additional “very serious offers with either real estate owners or potential [...]
FTSE 100 hits all-time high as trade deal hopes lift global markets July 23, 2025 The FTSE 100 closed at another all-time high on Wednesday on hopes the United States’ trade deal with Japan would spark a flurry of similar pacts between the Trump administration and America’s largest trading partners. London’s blue-chip index closed up 0.5 per cent to hit a record high of 9080 points, in the latest and [...]