Government sets out conditions for unlocking ‘trapped capital’ in defined benefit pension schemes June 10, 2026 The government has published a consultation setting out conditions on freeing ‘trapped’ capital from defined benefit pension schemes, in a bid to keep pace with the rapidly changing pension landscape and free up greater amounts of capital. The consultation, published on Wednesday by the Department of Work and Pensions, set out plans to give trustees [...]
For all their charm, digital banks still leave me tearing my hair out June 10, 2026 I admire London’s digital banks. But three events in the past month have made me realise I’m not parting ways with my high street bank any time soon. The first was dodgy transactions that started showing up on my Revolut account. I was being charged for random TfL tube journeys. I had a feeling this [...]
Thames Water eyes return to London Stock Exchange while Pennon back in profit June 10, 2026 There was a stark reminder for the City of the risks and rewards on offer to investors in water utilities on Wednesday, from two of the industry’s biggest names. One of them, Thames Water, is eyeing a return to the London Stock Exchange after a disastrous spell in private hands loaded it with debt and [...]
‘AI is not killing all these jobs’: LinkedIn boss on UK hiring slump June 10, 2026 Hiring in the capital is down 32 per cent from January 2019, a steeper fall than in any other region tracked by LinkedIn, as higher interest rates and corporate cost-cutting weigh on firms that dominate London’s labour market. Across the UK, hiring has slowed by 24 per cent on pre-pandemic levels and 10 per cent [...]
‘Watershed moment’: EV sales soar as oil price volatility drives away petrol car demand June 10, 2026 Brits are racing to get their hands on electric vehicles after a surge in oil prices triggered by the war in Iran has driven away demand for petrol and diesel cars, one of the UK’s biggest used car supermarkets has said. London-listed Motorpoint, which has seen its shares jump on the back of bumper profits, [...]
Revolut faced orders to fix ‘deficiencies’ in product launches in Europe June 10, 2026 Revolut faced a regulatory slap-down from the European Central Bank last year as restrictions were placed on its operations in the continent. Europe’s most valuable fintech company had its permission to release new products across the 27 countries covered in the European Economic Area temporarily suspended last summer. The bank was instructed to rectify “deficiencies” [...]
Podcast: Palantir to sue Sadiq Khan, GSK’s $10bn mega-deal, and could the World Cup rescue pubs? June 10, 2026 In today’s episode of City AM’s Business As Usual podcast, we get stuck in the top stories of the day – from a major pharma M&A deal to a US software giant poised to take legal action against the Mayor of London. City Editor Simon Hunt gives his round up of major markets stories, as Pharma giant [...]
Pension funds must ’embrace’ private markets to fuel growth June 10, 2026 UK pension funds must stop hiding in public equity benchmarks and ‘embrace’ private markets in order to meet their obligations and accelerate economic growth, the group chief executive of one of the UK’s largest pension providers has argued. Andrew Evans, co-founder and group CEO of Smart Pension, urged providers to steer away from public markets [...]
As it happened: FTSE 100 see-saws amid global jitters as market outlook turns ‘risky and dangerous’ June 10, 2026 Good morning and welcome back to the City AM liveblog. Markets were not getting too excited at the beginning of this week when Donald Trump said a peace deal with Iran was “very close”. And last night’s exchange of strikes might explain why. The US has said it completed a series of strikes against Iran [...]
An emboldened – or desperate – new government will look to wealth taxes June 10, 2026 Wealth taxes are climbing back up the political agenda as the Labour party begins the process of reinventing itself for a post-Starmer era. Wes Streeting thinks he’s found “a wealth tax that works” by hiking capital gains tax while Andy Burnham is flirting with a land value tax that would naturally hit wealthy areas the [...]