John Lewis boss: UK economy facing a ‘permacrisis’ September 3, 2026 The boss of John Lewis has warned that the UK economy is locked in a “permacrisis” as he urged the government not to hike business rates on large retailers. Peter Ruis, the outgoing managing director of the retail giant, said that British businesses are facing a “permacrisis externally [which] isn’t going to go away”. Last [...]
‘Reckless’ pensions advice: Watchdog slaps ex-Quilter rep with huge fine September 3, 2026 The City watchdog has banned a former Quilter adviser from working in finance, accusing him of “recklessly betraying his responsibilities” by offering pensions advice he wasn’t qualified to give. The Financial Conduct Authority (FCA) has given Daniel Thomas – whose DPT Financial Solutions was an approved representative of FTSE 250 wealth manager Quilter – a [...]
Zack Polanski to stand in by-election for Keir Starmer’s seat September 3, 2026 Green Party leader Zack Polanski will stand to become an MP in the Holborn and St Pancras by-election after Sir Keir Starmer quit parliament. Polanski, who is currently a London Assembly member, is solidly backed by Green Party members to stand as the party’s candidate in what has historically been considered as a Labour safe [...]
Services sector cuts jobs for nearly two years under cost pressures September 3, 2026 Employment in the UK’s services sector dropped for the 23rd consecutive month in August as businesses maintained hiring freezes and trimmed headcounts following cost pressures. S&P’s latest Purchasing Managers Index (PMI) for the services industry – which is closely monitored by economists – revealed the sector has continued its longest continuous stretch of workforce reductions [...]
Fifa World Cup ticket ‘misbehaviour’ warning to MPs over UK’s Sporting Events Bill September 3, 2026 Fifa has been accused of “misbehaviour” in its World Cup ticketing by resellers, who warn that such practice could become rife in the UK if a bill up for debate in Parliament today is passed. The Sporting Events Bill was drawn up to make it easier for the UK to host one-off events such as [...]
Giving up vegan arm helps Britain’s biggest meatpacker eye profit surge September 3, 2026 The UK’s biggest meatpacker has upgraded its profit target after offloading its loss-making vegan arm. FTSE 250 listed Hilton, which packages beef, lamb and fish, said it now expected to make a pre-tax profit of between £66m and £71m, a 10 per cent uplift from its previous forecast range. That comes after the firm sold [...]
Lloyd’s of London profit slides as bond market jitters bite September 3, 2026 The world’s leading insurance and reinsurance market has suffered a slump in profit after being weighed down by bond market jitters. Lloyd’s of London took a 16.7 per cent hit to its pre-tax profit £3.5bn for the first six months of 2026. Gross written premiums leapt 6.9 per cent to £34.7bn, up from £32.5bn last [...]
M&G: FTSE 100 giant hits out at Rayner’s ground rent cap as it suffers loss September 3, 2026 Asset manager M&G has swung to a loss driven by the Labour government’s introduction of a cap on existing ground rents. The FTSE 100 group hit out at the government after it reported a £165m loss for the first six months of the year, driven by a £325m write-down eating into its bottom-line. In its [...]
Crest Nicholson slashes housebuilding targets in ‘difficult’ summer September 3, 2026 Crest Nicholson has cut back its housebuilding and earnings targets as crunch talks with lenders drag on. The London-listed builder now expects to build up to 1,400 homes this year, compared to earlier forecasts of as many as 1,500. It expects to make an earnings loss of £10m, having previously guided to a profit of [...]
Greater fool theory helps to explain Premier League’s record £3.5bn transfer window September 3, 2026 The transfer window has left Ed Warner’s head in a spin and even the most devoted football nut must have struggled to keep up, he writes. The football transfer window closed on Tuesday night, with over £3bn splashed out by Premier League clubs for the second summer running. In the end, Everton didn’t sell their [...]