Bayer Leverkusen and RB Leipzig face ownership shake-up after 50+1 ruling August 12, 2026 Bundesliga giants Bayer Leverkusen, RB Leipzig and Wolfsburg face ownership overhauls after Germany’s competition watchdog ruled they are non-compliant with the country’s 50+1 rule. The rule mandates that all football clubs must be majority controlled by members but Leverkusen, Leipzig and Wolfsburg have historically benefited from loopholes. In its final decision on a long-running challenge [...]
Emergency government meeting held over high temperature amid ‘strain on public finances’ August 12, 2026 The government will hold an emergency meeting to discuss the country’s response to this summer’s high temperatures and drought amid fears that it will add a “strain” on the public finances. Prime Minister Andy Burnham will chair the ‘Cobra’ meeting of ministers overseeing health, water, housing and local government, as well as officials from agencies [...]
Airtel and Sumup set to kick off London’s fintech IPO test August 12, 2026 Airtel and Sumup are set to hand a potential $20bn boost to the London Stock Exchange with long-awaited IPOs that could help pave the way for a host of fintech firms to come to market. Telecommunications giant Airtel is planning to list its mobile money business in London before the end of the year, its [...]
Andy Burnham to ‘go further’ in business rates reform August 12, 2026 Andy Burnham said he would “go further” in introducing business rates reform after already announcing that property taxes would be cut for pubs in return for higher levies on vape shops. The Prime Minister said he will look to bring in more radical changes to the business rates system as part of efforts to ease [...]
Doctors union tops up £1m reserve pot for strikes August 12, 2026 The trade union for doctors has stashed away hundreds of thousands of pounds more to fund future strike action despite posting another year of losses, new accounts reveal. The British Medical Association (BMA), which represents over 200,000 doctors and students, put aside around £300,000 more funds towards its reserve for industrial action last year, according [...]
Tui hit by Middle East travel chaos and rising fuel costs August 12, 2026 Tui has suffered a slip in earnings at its airlines business as the Iran war continues to wreak havoc on global tourism routes and spike fuel prices. The Frankfurt-listed group, which is the world’s largest travel and tourism firm, swung to a €17m loss in its airlines arm in the six months to June, reversing [...]
Wimbledon won’t slap sponsor on new show court but eye US growth August 12, 2026 Wimbledon is quintessentially British, and its branding is understated. But what’s next for the Grand Slam? Matt Hardy finds out. “I’m not sure it’s Wimbledon style to have a naming right on a court,” the tennis Grand Slam’s marketing and commercial director Usama Al-Qassab tells City AM when asked whether a new show court at [...]
Balfour Beatty ups profit forecasts as it defies construction gloom August 12, 2026 Balfour Beatty has boosted its earnings and cash flow targets, as the construction firm’s “real momentum” defies wider gloom facing the sector. The group, which works with the government on major infrastructure projects, has seen the value of its order book jump by 17 per cent to £22.9bn in the six months to June, as [...]
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 [...]
Lammy’s cohabitation rules threaten unmarried couples with ‘horrendous’ court costs August 12, 2026 Justice secretary Alex Norris is facing backlash from senior legal figures on plans to give unmarried couples court-enforced rights after three years of cohabitation, passed on to him by predecessor David Lammy. The government is currently consulting on proposals to reform British couples’ cohabitation rights, which would give the courts power to intervene when unmarried [...]