MPs press competition watchdog to probe live music industry’s ‘dominant’ firms October 18, 2026 A government committee has urged the competition watchdog to launch a probe into the UK’s live music industry and the most “dominant firms”. The Business, Innovation, Science and Trade Committee said on 18 October it is “pressing” the Competition and Markets Authority (CMA) to launch a full market investigation into the live music industry in [...]
Tories call for urgent action on youth unemployment in Budget October 18, 2026 Shadow work and pensions secretary Helen Whately has said the government needs to “take action in the Budget” to “back businesses to employ more young people”, referring the one million young people who are not in employment, education or training (Neets). Talking to the BBC’s Laura Kuenssberg on Sunday, Whately said the Labour party have [...]
Post Office weighs bid for ATM operator in cashpoint expansion October 16, 2026 The Post Office is weighing a bid for one of the UK’s largest independent ATM operators in a move that would expand its cashpoint empire, City AM can reveal. The group, which facilitates the largest branch-based access-to-cash network in the United Kingdom, is exploring a deal for Notemachine after it was put up for sale [...]
Omaze in court over tax dispute on luxury house prize draws October 16, 2026 Luxury house prize draw platform Omaze has appealed against HMRC over whether paid entries in its prize draws are subject to standard-rate VAT. An Omaze spokesperson told City AM the platform “has been paying VAT in the UK since 2021.” Omaze lists itself on its website as “not a charity raffle, house or cash raffle [...]
What could a bank tax raid mean for JP Morgan’s Canary Wharf mega-tower? October 16, 2026 When Jamie Dimon and John Healey first exchanged remarks, the world’s most influential banker told the Chancellor how important it was to get public policy right. The Wall Street chief is understood to have said the right public policy was the key to solving the issues facing global economies, according to those close to the [...]
Midday Markets: The one tax you could bank on October 16, 2026 The Midday Market report is a new newsletter from City AM, giving you fresh analysis on the biggest stories in the City straight into your inbox every lunchtime. Today, Ali Lyon, chews over the government’s plans for a windfall tax on banks. Sign up to the City AM News Updates newsletter here. It was, in [...]
Lloyds and Barclays shares fall as Healey ‘poised’ to hike bank tax October 16, 2026 Shares in Britain’s banking giants tumbled this morning after new reports suggested John Healey is set to raise taxes on lenders when he delivers his first Budget at the end of the month. Natwest dropped two per cent to 660.40p, while Lloyds was down around 2.5 per cent to 103.40p. Barclays slid 0.4 per cent [...]
New inheritance tax rules will drastically change pension use October 16, 2026 New inheritance tax rules will drastically alter how people use their pensions, and put a lot of individuals in difficult positions, writes Steve Gauke.
‘Absurd’: Pension savers refunded £188m after HMRC overtaxes withdrawals October 16, 2026 Tens of thousands of taxpayers were handed money back from HMRC last year after savers had too much tax deducted from their pension withdrawals, City AM can reveal. HMRC processed 54,166 pension withdrawal repayments in the 2025/26 financial year, worth around £188m, according to figures obtained through a Freedom of Information request. During the financial [...]
Nvidia’s $250m UK AI bet sparks warning over ‘foreign dependence’ October 15, 2026 Nvidia’s $250m investment in the UK’s AI safety research risks deepening the country’s dependence on American tech unless ministers ensure researchers retain control over safety standards, analysts have warned. The world’s most valuable company has pledged $50m a year in computing power over five years to support British research into autonomous AI agents, alongside plans [...]