Samsung employees bag £310k bonuses as chip boom sends payouts soaring May 28, 2026 Samsung’s AI-fuelled chip boom has delivered eye-watering payouts for thousands of staff, after workers at the South Korean giant voted through a profit-sharing deal worth hundreds of thousands of pounds each. Employees in Samsung’s memory chip division are set to receive bonuses averaging roughly £310,000, mostly in stock, as soaring demand for AI data centre [...]
Milburn review: Youth unemployment crisis costs £125bn a year due to ‘broken system’ May 28, 2026 The crisis of nearly a million young people who are out of education, employment or training – known as ‘Neets’ – costs the UK economy up to £125bn a year, the Alan Milburn review has found, as both the government and the private sector were blamed for failing to address youth unemployment. An extensive report [...]
Number of Neets passes 1m May 28, 2026 The number of Neets, otherwise young people not in education, employment or work, jumped past 1m in the first three months of 2026, official data has revealed. The Office for National Statistics (ONS) has said that there were 1,012,000 young people between the ages of 16 and 24 out of work in the first three [...]
‘Enough to keep investors interested’: SSE charges up UK investment May 28, 2026 SSE hailed a record year of investment as it aims to end UK dependence on global volatile energy markets. The electricity infrastructure company invested £3.6bn in the 2025/26 financial year, up from £2.9bn the prior year, as it looks to ramp up the UK’s electricity grid and create lower energy bills. The FTSE 100 group [...]
As it happened: Stocks plummet on latest Iran war tensions; Neets crisis a ‘human tragedy’ May 28, 2026 Good morning and welcome back to the City AM liveblog. The US and Iran are back to exchanging fire in a major blow to hopes of peace in the Middle East. Tehran struck an American airbase overnight in its retaliation for the US striking a military site that it said “posed a threat to US forces [...]
Tony Blair is the only sensible voice left in Labour May 28, 2026 After reading Tony Blair’s essay on the state of Britain (and the state of the Labour party) I was struck by the realisation that large parts of it sounded as if they’d come straight out of one of my own columns. Regular readers will know that I’ve often used this slot to point out the contradiction [...]
Local authorities thwart housebuilding with ‘manifestly unfair’ council tax raid on developers May 28, 2026 Cash-strapped local authorities across Britain are thwarting efforts to increase housebuilding by hitting property developers with steep council tax bills as soon as their homes are listed as complete, an influential industry body has warned. In a paper shared with City AM, the boss of the Home Builders Federation (HBF) accused local councils of slapping [...]
Londonmaxxing: Capital reclaims European tech crown as money floods into AI and fintech May 28, 2026 London has reclaimed its position as Europe’s leading tech spot, overtaking Paris after a sharp rise in AI investment and a renewed influx of global capital into its startup scene. New figures from Dealroom show London ranked fourth globally in its latest Global Tech Ecosystem Index, behind only Silicon Valley, New York and Boston, after [...]
Ask the expert: Should I invest instead of buying a home? May 28, 2026 Fidelity personal financial specialist Marianna Hunt is back on hand to answer your burning questions, and today a reader wants to know whether to take the plunge and buy a property or invest. Q. I’m in my late 20s and have managed to save around £20,000, which I initially thought I’duse as a deposit to [...]
‘Outdated’ consultancy sector faces a reckoning as AI rips up the old model May 27, 2026 For years, the consultancy sector has relied on a traditional model and profitable formula: retained clients, billing time and upselling clients. Another crucial element has been the blend of ‘senior counsel’ supported by a team of juniors carrying out research and compiling reports. But the rug is being pulled from under this model and a [...]