By: Amber Murray

Retail Reporter Amber Murray is a reporter at City A.M., covering retail, luxury and property stores. Prior to City A.M., she worked as a sub-editor for Fastmarkets and completed a Masters in Financial Journalism at City University. Please get in touch with stories/tips/coffees at amber.murray@cityam.com

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Ex-Google boss Eric Schmidt buys £42m London mansion

April 8, 2025

Former Google chief Eric Schmidt has bought a London mansion for £42m in the latest sign that wealthy American buyers are becoming major players in the capital’s property market. According to FT, Schmidt bought the double-fronted, Victoria-era Holland Park mansion last May and plans to rent it out. The deal follows purchases from many other [...]
Ramsdens: Pawnbroker raises guidance profit on high gold price

April 8, 2025

Pawnbroker Ramsdens has raised its profit guidance for the year, boosted by the high gold price and income from jewellery. It now expects profit before tax for the 2025 financial year, which ends on October 1, to be at least £13m. This is up from £11.4m last year and £1m ahead of previous expectations. The [...]
UK retailers claw back losses as wave of selling turns to opportunistic buying

April 7, 2025

Heavyweight UK retailers clawed back some of their losses on Monday afternoon as the morning’s sell-off turned to buying. The FTSE 350 general retail index had dropped by as much as four per cent in early trades, but later stabilised to minus 2.8 per cent. Even UK retailers with very little presence in the US, [...]
City broker downgrades Watches of Switzerland as US prices set to rise

April 7, 2025

A City broker has downgraded its price target for Watches of Switzerland by a fifth, citing lower spending and higher prices as the retailer’s challenges. Peel Hunt downgraded the target price for the luxury watch firm from 500p to 400p. Shares in the retailer were trading at 335p as of midday on April 7, having [...]
How will the tariff turmoil affect your mortgage?

April 7, 2025

The fallout from President Donald Trump’s decision to impose wide-ranging tariffs on the world has left no stock market unscathed, but it’s possible Brits’ mortgages will benefit from the upset. The decision, which placed a minimum tariff of 10 per cent on all countries (including the UK), and higher tariffs on many more, has increased [...]
Not even Hermès and Ferrari can escape the luxury sell-off

April 7, 2025

Luxury companies across the board have seen a mass stock sell-off since April 2, affecting even the strongest brands. Hermès’ share price fell more than seven per cent in early trades on April 7, and has dropped more than 13 per cent since ‘Liberation Day’. The Birkin-maker was one of the few success stories of [...]
International buyers shun top end of the London housing market

April 7, 2025

The number of international buyers looking to buy London mansions has fallen to its lowest recorded level as stamp duty increases and broader tax changes weigh on housing demand. The proportion of international applicants – or people registering to buy a home – in Great Britain fell to one per cent of all buyers in [...]
Nearly half of UK companies say tax increase is impacting hiring

April 6, 2025

Nearly half of all companies across the UK are scaling back hiring plans in response to an increase in employment taxes and labour costs. New research has found that 46 per cent of firms thought recruitment decisions would be impacted, with many reporting that they were already not hiring or postponing recruitment, according to Reed. “Everyone understands that [...]
Musk advocates for ‘effective free-trade zone’ between the US and Europe

April 6, 2025

Elon Musk has voiced his support for an “effective free-trade zone” between Europe and the US, days after US President Donald Trump imposed a sweeping set of tariffs on the world. Trump placed a 20 per cent tariff on most EU goods going into America on April 2, as well as a range of tariffs [...]
WHSmith and Inchcape lead fall in retail stocks

April 4, 2025

UK retail stocks have dropped in value this morning, led by a sell-off of WHSmith, Inchcape and AO World. Earlier today, tax body RSM said that price rises at UK retailers as a result of the tariffs were “inevitable”. “The tariffs announced by President Trump this week would in themselves be a blow to the [...]

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By: Amber Murray

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