Burberry revival gets a boost from China and US sales Retail Burberry has recorded a lift in sales across all its fashion lines for the first time in three years as a resurgence in the US and China helped ease a slowdown in spending brought on by the Iran war. The London-listed fashion label posted a five per cent rise in overall revenue in the three [...]
IMF warns Bank of England against cutting interest rates Economics The Bank of England must keep interest rates on hold for as long as risks from the Iran war persist, the International Monetary Fund has said. In its annual temperature check of Britain’s economic outlook, the fund warned rate setters to keep monetary policy “sufficiently restrictive” to avoid sparking a painful bout of inflation that [...]
Crest Nicholson shares slump as lender talks drag on Property Crest Nicholson shares dropped after the housebuilder posted a £35m loss and told investors it is still locked in talks with its lenders. The London-listed firm had delayed the publication of its results in the hopes of seeking emergency permission from its creditors to loosen the terms of its debt, but said on Thursday that [...]
UK borrowing costs soar as Iran ceasefire collapses July 14, 2026 The UK’s borrowing costs have sailed past five per cent for only the third time since the onset of the Iran war, in a headache for Andy Burnham just days before he enters Downing Street. The yield on the UK’s 10-year government bond – the benchmark for a country’s long-term ability to borrow – climbed [...]
Trump reinstates US blockade of Strait of Hormuz July 13, 2026 Donald Trump said the United States has restored its blockade of Iranian ships in the Strait of Hormuz and would demand a 20 per cent fee on all other cargo transiting the shipping lane. In a further breakdown of relations with Iran, the President said the US Navy would stop “Iran’s ships entering or leaving” [...]
London-listed firm cheers surge in demand for ‘dog wash machines’ July 13, 2026 Europe’s biggest photobooth operator has expanded into user-operated dog washing machines in a bid to recover from an Iran war hit to profit. ME Group, which operates laundry machines and photo booths across the UK and Europe, said it is rolling out hundreds of dog wash machines in a bid to drive growth. The FTSE [...]
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 [...]
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) [...]
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 [...]
As it happened: Stocks fall as oil creeps up; Trump to ‘finish job’ in Iran July 9, 2026 Welcome back to the City AM liveblog. The escalation of the conflict in the Middle East has wiped out the recovery across global markets that had slowly took place over the last few weeks. The US and Iran exchanged further fire overnight, with America’s central command stating it had hit around 90 Iranian targets in [...]