Savvy the Squirrel and ‘simpler regulation’: New City minister reaffirms Labour’s investment push June 4, 2026 The government’s new City minister has doubled down on the government’s commitment to overhaul the UK’s investment culture and encourage more Brits to enter the stock market, including its new squirrel-themed nationwide campaign. Economic Secretary to the Treasury Rachel Blake, who took over from Lucy Rigby three weeks ago, noted that “too many people have [...]
Gone for good: UK distributor behind Take That film goes bust June 4, 2026 The London-based distributor behind the Take That musical film has gone bust, City AM can reveal, in the latest sign of the intense cost pressures facing the industry. Elysian Film Group Distribution is part of the wider Elysian umbrella, founded by former Studiocanal chief Danny Perkins in 2018. FRP Advisory has been appointed as liquidators [...]
£4.5bn black market cigarette tax loss should be ‘a major wake-up call’ for Labour June 4, 2026 Over half of cigarettes smoked in the UK are black market and are contributing £4.5bn to the country’s tax losses – a record high – according to new analysis from KPMG and tobacco giant Philip Morris. The findings show that 1.5bn more black-market, tax-free cigarettes were consumed by UK smokers last year compared to 2024, [...]
Lex Greensill banned as company director for nine years after multi-billion-pound collapse June 4, 2026 The UK Insolvency Service has confirmed that financier Lex Greensill will face a nine-year ban from serving as a company director, after he signed a legally binding disqualification undertaking to resolve long-running enforcement proceedings just days before a scheduled High Court trial. The Insolvency Service, which opened its probe into him in 2022, filed a [...]
‘Don’t feel great’: Treasury minister irked by Darren Jones and Mandelson texts June 4, 2026 Treasury minister Lucy Rigby has appeared to criticise her fellow Cabinet colleague Darren Jones over texts he reportedly sent to Lord Peter Mandelson on the day he was sacked as ambassador to the US. Rigby, who currently holds Jones’ former role as chief secretary to the Treasury, told Sky News that she was unsettled by [...]
Partners Group suffers surge in withdrawal requests and braces to cap more funds June 4, 2026 Partners Group warned that its flagship private equity fund had been hit by a flurry of requests from wealthy investors, raising concerns the Swiss firm would have to cap withdrawals, a day after doing so on a major European fund. Redemption requests at its $16bn private equity master fund reached roughly six per cent of [...]
‘Dire’: Rapid decline in construction as sector slashes jobs June 4, 2026 A rapid decline in construction companies’ activity has forced bosses to cut employment, according to new data. S&P Global’s construction purchasing managers’ index (PMI) showed that business activity declined at the fastest pace for six years. Putting the pandemic aside, the decline in construction output was the lowest since March 2009. The PMI reading was [...]
Stockbroker boom down under boosts CMC Markets share price June 4, 2026 CMC Markets shares rocketed in early trading after a rise in stockbroking activity in Australia coupled with its expanding institutional business partnerships boosted profits. Shares soared 12.7 per cent to 415p, with shares up 37.1 per cent since the start of the year. The trading platform operator recorded a 20 per cent hike in profit [...]
Gold prices glitter amid geopolitical uncertainty June 4, 2026 Gold saw a significant price rally over the course of 2025, after geopolitical uncertainty and heightened central bank buying drove more people to the safe haven asset. Gold prices rallied 44 per cent last year, reaching $4,550 per ounce in December and recording 56 fresh record highs according to the latest report from Metals Focus. [...]
As it happened: Stocks mixed as Trump warns takes ‘two to tango’ on Iran peace June 4, 2026 Good morning and welcome back to the City AM liveblog. Donald Trump has hinted a peace deal in the Middle East could come as soon as “over the weekend” in the latest back-and-forth of negotiations between the US and Iran. The President yesterday doubled down once more on his claim that Iran is set to [...]