Next hikes targets as heatwave boosts sales August 5, 2026 Next has upgraded its profit targets for the year after breezing past second quarter expectations, putting its shareholders in line for a bumper payday. The FTSE 100 retail giant hiked its pre-tax profit expectations for 2026 to £1.24bn, around £25m higher than previously estimates. If achieved the figure would mark 7.3 per cent growth on [...]
Will Drastic Dave live up to his name at Diageo? August 4, 2026 Putting the finishing touches to Diageo’s annual report, Sir Dave Lewis may be channelling the old slogan of the drinks giant’s prize brand, Guinness: ‘Good things come to those who wait’. Since Lewis began his tenure as chief executive of the FTSE 100 firm on New Year’s Day, investors have heard very little from him. [...]
Retailers hit back at Healey’s ‘profiteering’ threat August 3, 2026 Retailers have hit back at the Chancellor’s warning against profiteering, saying they will prove they have fought hard to keep food prices down during the Iran war. Chancellor John Healey said at the weekend that the Treasury is prepared to crack down on any retailers which are taking Brits “for a ride” by using the [...]
As it happened: UK stocks cool after Astrazeneca drags; Trump and Iran clash over peace talks August 3, 2026 Welcome back to the City AM liveblog. The London stock market is starting the new week relatively mixed after Donald Trump hinted a deal between US and Iran on the Strait of Hormuz is near, but was contradicted by communication from Tehran. The US President has said that Saudi Arabia, the UAE, Qatar and Iran [...]
Can a team of retail veterans solve Argos’ catalogue of woes? July 31, 2026 The death of the Argos catalogue in 2021 after nearly half a century prompted a period of mourning for many in Britain – including the retailer’s new owner. “I used to sit around the kitchen table putting green shield stamps into books,” Richard Pennycook said on Friday, referring to the original iteration of the catalogue. [...]
Sainsbury’s to sell Argos in £120m cut-price deal July 31, 2026 Sainsbury’s has said it will sell long-struggling catalogue retailer Argos for £120m, a fraction of the £1.4bn it bought it for a decade ago. The supermarket giant has struck a deal with Swift Partners – a new company led by On the Beach chairman Richard Pennycook and former Morrisons boss Trevor Strain. Their takeover will [...]
Currys hands outgoing boss Alex Baldock £2m pay rise July 30, 2026 FTSE 250 giant Currys has handed its outgoing boss Alex Baldock a more-than-£2 m pay rise, capping off the chief executive’s successful turnaround of the business. The electrical retailer handed Baldock a £6.3m total pay package this year, marking a 54 per cent hike from last year’s £4.1m. Baldock joined Currys in 2018 and is [...]
Hammerson boss mad for Manchester as firm snaps up Arndale shopping centre July 30, 2026 Hammerson has snapped up a stake in one of the UK’s biggest shopping centres as the retail real estate firm expands its UK footprint. The FTSE 250 property company has paid £218m to acquire a 50 per cent stake in the Manchester Arndale shopping centre, marking the company’s first major external acquisition in over a [...]
Rentokil shares slide almost 20 per cent as demand weakens in North America July 30, 2026 Pest control giant Rentokil’s share price slid 17 per cent on Thursday morning following a slow appetite from the North American residential market. The FTSE 100 firm’s shares tumbled on market open from 443.30p to 398.60p, despite reporting a 6.7 per cent rise in group revenue for the first six months of the year to [...]
As it happened: Stocks reach all-time high; US fires back at ‘surprise’ Iran attacks July 29, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Wednesday and the UK’s blue-chip index surged in early trading to reach an all-time high, brushing off the latest outbreak of attacks in the Middle East. The FTSE 100 hit 10,945 on the market open, eclipsing the previous intraday record of 10,934, achieved in February on the [...]