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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Smith & Nephew hits back at claims it massaged profit margins

October 14, 2024

Embattled hip and knee implant maker Smith & Nephew has hit back at a report claiming that it deployed aggressive accounting techniques to bolster its profit margins.
Gambling stocks Flutter, Entain and Evoke nosedive on Budget tax fears

October 14, 2024

Shares in British gambling firms plummeted on Monday morning after reports that the government was eyeing up £3bn tax rises on the sector in a move that one investment bank said would “all but wipe out bookmaker profitability in the UK”. William Hill-owner Evoke saw its share price crater by over 13 per cent in [...]
Eli Lilly: UK must improve its offering as a ‘small market’ after Brexit

October 14, 2024

The UK has become a “relatively small market” since leaving the European Union and must develop a different investment proposition from its counterparts in order to be interesting to multinational corporations, the boss of one of the world’s largest pharmaceuticals firms has said. Speaking shortly after his firm announced it “anticipates making £279m investment over [...]
Zopa and Oaknorth founders warn against hiking capital gains tax

October 14, 2024

Raising capital gains tax to between 33 and 39 per cent in an attempt to shore up the government finances “should be resisted” and may “end up lowering the tax take”, a group of 500 British entrepreneurs has warned. In an open letter to the Chancellor, which is signed by the founders of Signal AI, [...]
BHP facing 620,000 claimants in London trial over Brazilian dam collapse

October 13, 2024

A landmark trial will get under way at the High Court in London later this month against Anglo-Australian mining firm BHP. London-listed BHP will defend itself against allegations of negligence and look to avoid paying damages that could rise to as much as £33.6bn at a trial from 21 October relating to its role in [...]
Top-rated water firms dumped 1,374 ‘illegal’ spills into UK rivers

October 13, 2024

Two of the UK’s largest water firms breached their permits by dumping over a thousand raw sewage spills into rivers, even though they had received the highest possible environmental rating from one of the sector’s regulators, fresh analysis has revealed. Severn Trent and United Utilities oversaw 1,374 raw sewage spills from treatment works across more [...]
Activist investor calls for BP chair to quit after ’embarrassing’ performance

October 13, 2024

An activist investor famed for ousting senior leadership has called for BP chair Helge Lund to quit after the oil major’s “embarrassing” performance. Bluebell Capital Partners, a London-based hedge fund, has written to BP’s board board twice in the past few weeks attacking its management and the firm’s approach to the transition. Bluebell co-founders, Guiseppe [...]
Post Office boss told he did not need to ‘dig into’ Horizon scandal

October 9, 2024

The outgoing Post Office chief executive said he was told he “did not need to dig into the details” of the Horizon IT scandal when he joined the business despite it having led to the wrongful prosecution of hundreds of sub-postmasters. During what was the first of three days of evidence at the Horizon inquiry, [...]
Met Police misconduct settlements double in past year

October 9, 2024

The Metropolitan Police has paid out £7.6m to settle misconduct claims in the past year, over double the 2022-23 total, as the force looks to resolve hundreds of claims involving instances of wrongdoing by officers.
Record number of millionaires to leave UK as top academics join calls for exit tax

October 8, 2024

The UK is set to lose the greatest proportion of millionaires in the world in the next four years, new analysis suggests, as a group of respected academics joined growing calls for Rachel Reeves to introduce an exit tax at the upcoming Budget. The Adam Smith Institute’s (ASI) Millionaire Tracker – a new initiative from [...]

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By: Ali Lyon

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