By: Ali Lyon

chief reporter Ali Lyon is the chief reporter at City AM, responsible for covering the full gamut of business, finance and wealth news. He has been at City AM full-time since July 2024. Get in touch with tips via email: ali.lyon@cityam.com. Follow Ali on X: @alilyon_94

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Metlen shares jump on £5bn London debut

August 4, 2025

Metlen Energy and Metals had a strong first morning as a London Stock Exchange constituent, after the Greek industrials giant opted to shift its primary listing from Athens. The group’s shares opened at €48 (4180p) – 1.8 per cent higher than the stock’s closing price in Athens of €47.16 – and continued to rise throughout [...]
BP makes its largest oil discovery in 25 years

August 4, 2025

BP has made its biggest oil discovery in a quarter of a century off Brazil’s Atlantic coast, in a big boost for the beleaguered oil giant mired in a battle to turn around years of underperformance. The petrochemicals giant’s head of production and operations, Gordon Birrell, announced the “significant discovery” in Brazil’s Santos Basin to [...]
Reeves’ non-dom crackdown is unwittingly driving rich Brits away too

August 4, 2025

The hordes of wealthy foreigners leaving Britain to escape the government’s non-dom crackdown are being joined by high-net-worth Brits capitalising on an arcane element of the policy that has made it easier for them to avoid paying inheritance tax (IHT). Several wealth advisers and tax lawyers have reported a “second wave of interest” from middle-aged [...]
Brain drain latest: Number of Brits choosing to move abroad doubles

August 1, 2025

The rate at which UK taxpayers are moving abroad has more than doubled in the past three years, according to official data which experts warned could be understating the true speed of departures. The average number of P85 forms submitted to HMRC per month rose from 2,500 in 2022 to as much as 5,150 per [...]
Heathrow closure cost British Airways owner £40m

August 1, 2025

The closure of Heathrow airport in March had a “severe impact” on the owner of British Airways and cost the group tens of millions of pounds in lost profit. International Airlines Group (IAG), which also owns the likes of Spanish carrier Vueling and Ireland’s Aer Lingus, said the blaze that brought operations at London’s flagship [...]
Heathrow tables third runway bid

August 1, 2025

Heathrow’s top brass have tabled their proposal to manage the hub’s long-awaited third runway expansion in a bidding process that will pit it against a rival operator for the first time in the airport’s history. Officials from the airport confirmed had submitted “shovel-ready” plans for a privately financed runway ahead of the Department for Transport’s [...]
Inheritance tax nets record £6.7bn before Budget raid

July 31, 2025

The Exchequer raked in a record £6.7bn in inheritance tax between 2022 and 2023, as a longstanding freeze on the tax-free threshold and ballooning asset prices meant more estates were sucked in to paying the unpopular levy. The overall earnings from inheritance tax rose by over £700m in the tax year 2022/3, official data showed, [...]
Another blow to London as Just Group goes to Canadian manager

July 31, 2025

The London Stock Exchange lost yet another constituent to foreign ownership on Thursday, after pension insurer Just Group agreed a bumper takeover deal from Canadian asset manager Brookfield Wealth Solutions (BWS). The FTSE 250 firm’s board told markets it had accepted a £2.4bn offer from the North American company in a deal valuing the firm [...]
M&S cyberattack helps Next to beat expectations again

July 31, 2025

High Street darling Next has said that good weather and the disruption to Marks & Spencer caused by its recent cyberattack has helped it to beat expectations yet again. The Lord Wolfson-run fashion group said full price sales were up over 10 per cent in the first half of this year, nearly £50m ahead of [...]
Drax hikes dividend despite profit dip amid power station update

July 31, 2025

Drax has told investors it was close to agreeing a controversial contract with the government for its wood pellet power station after hiking its dividend despite revealing falling profit. The London-listed group said the energy transition was “creating significant value opportunities aligned with the UK’s energy needs” in an interim update in which it revealed [...]

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By: Ali Lyon

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