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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Thames Water: Ofwat hunt for independent ‘monitor’ already under way

August 23, 2024

Ofwat’s search for an independent ‘monitor’ who will report on Thames Water’s progress and have access to company information is already under way, City A.M understands. The new appointment is part of a string of new measures that Thames has signed up to in order to avoid a hefty fine for breaching its licence conditions, [...]
Public sector spending on consultants hits record high despite efforts to cut

August 23, 2024

Public sector spending on management consultants has ballooned to a near-record high this year despite efforts to cut reliance on the expensive sector. Fees to consultants from central government, local authorities and other departments swelled to an estimated £3.4bn in the last fiscal year between 2023 and 2024, a rise of 12 per cent on [...]
Labour’s North Sea windfall tax plans branded a ‘blunt response’ that will hammer businesses across the UK

August 22, 2024

The government’s plans for North Sea oil and gas are a “blunt response” that could jeopardise hundreds of thousands of jobs not just in the energy sector, several of the industry’s leading figures have warned. In an open letter to the Treasury, over 40 companies with operations in the North Sea voiced their “grave concern” [...]
England Women to play first Test at Lord’s as 2025 schedule revealed

August 22, 2024

England Women will play their first ever Test match at Lord’s Cricket Ground as part of a string of new fixtures announced for both the men’s and women’s sides for the 2025 cricket season. The side will face India in a one-off test match at the home of cricket in the summer of 2026, exactly [...]
Eckoh: Payments software firm discloses bid from private equity firm

August 22, 2024

Payments software firm Eckoh is set to become the latest firm to leave the Aim market, after it announced it had received an offer from an unnamed private equity firm. The offer, which valued Eckoh at 54 p per share and was “highly conditional” and “non-binding”, follows a lengthy hunt for a suitor from the [...]
Ithaca Energy: Profit tumbles at North Sea oil and gas firm as windfall tax bites

August 22, 2024

North sea oil and gas firm Ithaca Energy saw its revenue and profit tumble after being hit by impairment charges, lower production and a dip in the oil and gas prices. The FTSE 250 constituent, which in the Spring announced plans to buy all of Italian competitor Eni’s North Sea assets for £754m, lowered its [...]
Rents rise at slowest rate in nearly three years – but average hits £1,200

August 21, 2024

A rise in properties on the market means rents for new lets have grown by their slowest rate in nearly three years this year, and are expected to fall below wage growth for this first time since 2021, an analysis has revealed. Rents for new lets grew by 5.7 per cent in the 12 months [...]
Watkin Jones: Property developer lowers profit guidance warning of ‘slow’ outlook

August 21, 2024

Property developer Watkin Jones has warned investors that a “slower than expected” summer market and “uncertainty” over the pace of interest rate cuts will weigh on its full year results, as it lowered profit guidance. In a trading update, the Aim-listed firm, which in its half-year results in May returned to profit thanks to a [...]
Gold hits record high on hopes of Fed rate cut

August 20, 2024

The price of gold hit an all time high of $2,513.79 (£1,932.87) per ounce on Tuesday morning as investors hope the US central bank will cut interest rates. The surge in the price of the precious metal, a safe haven asset for investors due to its real world use cases and widely held intrinsic value, [...]
Revenue slides at Wood Group after Sidara snub but guidance kept

August 20, 2024

Engineer Wood Group maintained its full year guidance despite sliding into the red after a dip revenue in its first set of results since Emerati competitor Sidara pulled out of a deal for the firm at the eleventh hour. The Aberdonian firm, which generates much of its revenue providing engineering services to the oil and [...]

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By: Ali Lyon

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