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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More advertisers to flee X after recent Elon Musk lawsuit and riot comments

August 9, 2024

Elon Musk’s antitrust lawsuit against brands that have boycotted X and his controversial activity on the platform during the recent spate of UK riots are set to exacerbate the long-held misgivings advertisers have with the site, leading industry figures have said. On Tuesday, Elon Musk’s X – formerly Twitter – filed a lawsuit against a [...]
Derwent London upgrades rental guidance thanks to ‘world class’ London

August 8, 2024

An acceleration in rental growth and a more stable investment environment has helped office giant Derwent London upgrade its rental guidance off the back of “really active demand”, its boss said. In its half-year results this morning, the FTSE 250 office specialist said its income grew but valuations continued their decline. Derwent, which owns flagship [...]
Morgan Sindall: FTSE 250 construction group continues run of growth

August 8, 2024

Construction and regeneration group Morgan Sindall has reported yet another half of double-digit revenue and profit growth. The FTSE 250 constituent, which is headquartered in London and helped expand Whitechapel station for Crossrail in 2021, hailed a “record” performance in the six months to 30 June. Revenue jumped 14 per cent from £1.9bn to £2.2bn. [...]
Harbour Energy returns to profit despite falling revenue and cash flow

August 8, 2024

Harbour Energy has returned to the black on Thursday despite the largest UK-based North Sea oil and gas firm suffering a dip in revenue and cratered free cash flow. The producer had been a victim of the energy profit levy imposed off the back of energy price spikes in 2022, with the 75 per cent [...]
Hikma given shot in the arm by ‘excellent’ double-digit growth

August 8, 2024

Pharmaceutical firm Hikma has hiked its dividend and raised its guidance having hailed an “excellent” first half of the year. The Jordanian-founded FTSE 100 pharma firm, which in June bolstered its injectables offering with the purchase of Danish rival Xellia, posted a double-digit revenue rise of 10 per cent, raking in $1.6bn (£1.3bn) in the [...]
Glencore: FTSE 100 mining giant opts against coal spin-off after investor feedback

August 7, 2024

Glencore no longer plans to demerge its coal business after an “overwhelming majority” of shareholders told the mining giant to retain the division. The FTSE 100 constituent had planned to spin off its coal business after it completed the $7bn (£5.51bn) acquisition of Teck Resources’ steelmaking coal business in November last year. However, on Wednesday, [...]
Blackstone chief Steve Schwarzman’s NIMBY problem: Newts in My Backyard

August 7, 2024

In his day job as Blackstone’s chief executive, Stephen Schwarzman is used to dealing with slimy adversaries conspiring to prevent him from getting his way. But now the private equity boss is facing a similar problem in a more personal capacity, after the potential presence of an endangered species of newt has prevented him from [...]
Thames Water handed more special measures from Ofwat after credit rating downgrade

August 7, 2024

Thames Water will be made to appoint an independent monitor and develop a “suitable” turnaround plan as part of a raft of new measures from the regulator after the its credit rating was downgraded. Ofwat said that the recent decisions from Moody’s and S&P – two of the world’s largest credit ratings agencies – to [...]
IHG: Revenue up at Holiday Inn owner despite China slowdown

August 6, 2024

Intercontinental Hotels Group (IHG), which owns the likes of the Holiday Inn chain, saw its revenue rise during the first half of 2024 thanks to a strong performance in Europe, the Middle East and Africa.
Fuller’s snaps up pint-sized Warwickshire pub chain Lovely Pubs

August 6, 2024

Fuller’s has snapped up a chain of seven pubs in Warwickshire in a deal worth £22.5m. Fuller’s said it had bought the Lovely Pubs group, which has a seven-strong portfolio of six freehold sites and one pub with a 16-bedroom inn. The firm said the deal would expand its presence in the Midlands as it [...]

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By: Ali Lyon

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