By: Ali Lyon

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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Hilton Foods: Profit soars at meatpacker as it looks ahead to Walmart site

September 4, 2024

Hilton Foods’ seafood and core meat divisions helped bolster the meatpacker’s first-half results as the company geared up for further growth. The FTSE 250 constituent, which had struggled to deal with the rampant inflationary pressures of the last two years, posted a 23.2 per cent rise in adjusted operating profit to £46.9m on a constant [...]
Non-dom policy change could lead to ‘exodus’ of wealthy investors, study finds

September 4, 2024

Planned changes to the non-dom tax regime could trigger a “mass exodus” of wealthy investors from the UK, costing the taxpayer around £1bn by the end of this parliamentary term, a new report has warned. The study from Oxford Economics, which polled 72 non-doms and over 50 tax advisors, found nearly two thirds of people [...]
Midwich: Tech distributor posts solid growth despite headwinds

September 3, 2024

Audio and TV distributor Midwich has defied broader market headwinds to post a double-digit rise in gross profit and improved revenue numbers. The Norfolk-based firm, which has been a constituent of London’s Aim market since 2016, grew by 7.5 per cent at constant currency in the six months to June 30, raking in £446m in [...]
Ashtead: Profit down at equipment giant as revenue slows

September 3, 2024

Equipment rental group Ashtead’s revenue grew just two per cent, and profit fell during the three-month period ending 31 July, as a construction slowdown across the US hit the company. The equipment hire giant, the FTSE 100’s 25th largest firm, reported revenue of $2.75bn (£2.1bn) for the period, up from $2.7bn (£2.06bn) in the prior [...]
Workers’ rights fines will harm growth and jobs, small businesses warn

September 3, 2024

The government risks “reversing economic growth” and disincentivising hiring if it pursues plans to issue “punitive” fines to businesses that breach its workers’ rights plan, industry leaders have warned. Businesses face paying thousands of pounds in fines if they fall foul of the new protections that Labour are hoping to introduce, it was revealed on [...]
Neo Energy slows down £900m North Sea project due to windfall tax

September 2, 2024

One of the North Sea’s largest oil and gas project has been plunged into uncertainty after its operator announced it was slowing down investment in light of “fiscal and regulatory uncertainty”. Neo Energy had planned to start work on the £900m Buchan project – expected to produce a peak of 35,000 barrels of oil a [...]
Venture capital firm launches UK’s only fund for British pensions

September 2, 2024

A venture capital firm has launched the first-ever fund devoted to helping UK pension funds invest in British start-ups and scale-ups. Future Planet Capital’s new British Co-Investment Fund (BCF) will channel pension investment into some of the UK’s fastest growing and most innovative businesses in a move that has been praised as “much-needed” by start-ups [...]
Workers’ rights: New agency to issue businesses with large fines

September 2, 2024

Businesses face paying large fines from a newly formed agency if they are found to have breached Labour’s proposed workers’ rights laws. As Parliament returns this week, ministers are reportedly weighing up the practicalities of the far-reaching package that includes controversial reforms like a ban on “exploitative” zero hours contracts, granting day-one rights after probation, [...]
Oil and gas windfall tax increase may cost economy £13bn, trade body warns

September 2, 2024

The government's changes to the windfall tax will have a £13bn hit to the economy, the sector's industry body has claimed.
Water firms’ industry body: Dividend payouts haven’t affected infrastructure investment

September 1, 2024

Water companies would be in a similar state today even if they hadn't paid out millions in dividends, the boss of their industry body claimed.

Europe has made a ‘major mistake’ on slow electrification, IEA chief warns

Will the Nations Championship financially underdeliver for in-need Fiji?

I was on the Goodyear blimp above London – here’s what it was like

By: Ali Lyon

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