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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X-odus: Musk platform ‘distinctly not well received’ by marketers

September 5, 2024

Marketers’ trust in Elon Musk’s X as an effective platform for advertising has plummeted since 2022, with advertisers anxious about the “brand safety” that the controversial social media channel offers. Approval ratings for the social media channel have plummeted to minus 21 per cent, down from plus 15 per cent just two years ago, according [...]
Genus: Animal genetics firm begins recovery after gruelling year

September 5, 2024

Animal genetics specialist Genus has shown early signs of stabilising after a gruelling year during which its share price tumbled by 20 per cent. Shares in the London-listed firm nose-dived in 18 per cent in a week in February after it reported collapses in the pork price and its bovine volumes in China, one of [...]
Jet2 welcomes ‘booking momentum’ as it doubles down on package holidays

September 5, 2024

Budget airline and leisure group Jet2 has welcomed a late bout of” booking momentum” in July and August, and doubled down on its strategy to ramp up its package holiday offering. The Aim-listed carrier, which in July hiked its dividend after reporting record passenger numbers, said it had maintained its momentum throughout late summer in [...]
Enquest ‘disappointed’ with windfall tax plans as revenue dips

September 5, 2024

North Sea energy firm Enquest has said it was “disappointed” with the ongoing application of the Energy Profit Energy as it reported falls in production and revenue. Enquest, which is one of the largest operators in the North Sea and is currently drilling the single largest oil field in the area, reported a 19.8 per [...]
Are the super-rich running out of road?

September 4, 2024

As more western governments look at ways to increase taxes for the ultra-rich, Ali Lyon asks whether it will work
Government approval paves way for new Thames Water ‘mega-reservoir’ in South Oxford

September 4, 2024

The government has endorsed Thames Water’s plans to manage water supply for the next 50 years, paving the way for a controversial new £1.5bn ‘mega-reservoir’ in South Oxford. Steve Reed, the environment minister, has approved the embattled water firm’s proposal—called its Water Resource Management Plans—in which the firm maps out its strategy to secure the [...]
Gulf Marine Services posts fall in net profit as it slashes debt

September 4, 2024

Gulf Marine Services (GMS) posted a hefty dent in net profit in its half-year results despite a sizeable rise in revenue, as the highly levered business continues to focus on debt reduction. The London-listed oil services provider, which operates self-propelled and elevating support vessels for the oil sector out of the United Arab Emirates, saw [...]
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 [...]

Drone strikes and noise disputes: The soaring risks of the global data centre boom

Kylian Mbappe receives shares in On as he jumps ship from Nike deal

XPeng G6: The Electric SUV with Business Appeal

By: Ali Lyon

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