British American Tobacco shares slide as cigarette volumes decline June 2, 2026 British American Tobacco suffered a fall in share price in early morning trading, as investors opted to take profits despite updated revenue growth for the full financial year. Shares slipped 2.9 per cent to 4,447.3p, as investors ignored growth in its new category business and US momentum for declining cigarette volumes. Global cigarette industry volume [...]
As it happened: Stocks shrug off stalling Iran peace talks; OBR warns Reeves June 2, 2026 Good morning and welcome back to the City AM liveblog. Markets were rocked yesterday after reports emerged from Iranian state media that Tehran was pulling out of peace talks with the US. A proposal that included a 60-day cessation of violence and a play to re-open the Strait of Hormuz has hung in the balance [...]
Replace Reeves if Starmer goes, voters tell Labour June 2, 2026 Rachel Reeves should be replaced as Chancellor if Sir Keir Starmer is ousted in a Labour leadership contest, the majority of voters believe. Reeves’ team had told newspapers that she should stay on in order to maintain some stability if Starmer were defeated by Wes Streeting, Andy Burnham or another Labour leader contender in a [...]
Labour may not agree with Blair, but the public does… June 2, 2026 This month’s City AM / Freshwater Strategy Poll reveals that the public is largely on the side of the former Prime Minister rather than Keir Starmer or his potential heirs when it comes to welfare, energy costs and growth, says Matthew Lesh Love him or, like many others, absolutely detest his guts, it’s hard to avoid the [...]
Wayve: London robotaxis will make passengers forget there’s no driver June 2, 2026 Wayve believes Londoners will stop noticing they are sitting in driverless cars within minutes of using them, as the British AI startup prepares to launch autonomous vehicles on Uber’s network in the capital. Kaity Fischer, Wayve’s vice president of commercial and operations, said the company expected passengers to move quickly from novelty to habit once [...]
Mandelson Files add insult to injury, but the patient was already beyond saving June 2, 2026 The deluge of emails, Whatsapp messages and hand-written notes released yesterday cover the full range of political and diplomatic life, from the absurd to the poignant; from rows over a gift for Donald Trump to soul-searching over Keir Starmer’s failures, it’s all there in black and white. What’s clear at a glance is quite how [...]
Pension master trusts join forces to tackle outdated transfer systems June 2, 2026 Eight pension master trusts have joined forces in a bid to improve the pension transfer system following uproar over its outdated and sluggish practices. The group, dubbed Pathfinder, brings together trusts including Nest, Smart Pension and People’s Pension, which represent over £162.7bn in funds under management and 14.5m savers. It aims to examine the current [...]
Sadiq Khan: London tech boom can weather ‘dizzying’ AI risks June 1, 2026 Sadiq Khan has insisted London is “busy writing” the future of AI despite the “dizzying” risks posed by the technology, as fresh figures show the capital has reclaimed its position as Europe’s leading tech hub. The Mayor of London said AI presents both “impacts and opportunities”, but argued the capital was well placed to benefit [...]
Labour voters lead AI adoption as public remains split on impact June 1, 2026 Labour supporters are more likely to use AI tools such as ChatGPT and Claude than voters of any other major political party, new polling has found. The latest City AM/Freshwater Strategy poll of UK voters found Labour backers are the heaviest users of AI assistants, while two-thirds (66 per cent) of voters overall have used [...]
Inside Celonis, the German tech unicorn that won over a fifth of the FTSE 100 June 1, 2026 For a company valued at more than $13bn (£9.58bn), Celonis remains relatively unknown in Britain. Founded in Munich in 2011, the software company has become one of Europe’s most valuable private tech firms, with customers including AstraZeneca, ASOS, BMW and the UK Cabinet Office. The UK has become one of its three largest markets globally. [...]