Exclusive: Blackstone set to back AI ‘droid’ firm at $3.5bn valuation AI Blackstone is weighing a fresh funding injection for Nvidia-backed artificial intelligence firm Factory in a deal likely to value the coding company at more than $3.5bn, City AM has learned. The New York-headquartered investment giant, which has been ploughing cash into AI firms and digital infrastructure in recent years, is considering the investment as part [...]
Defence drilling firm tools up for London IPO Markets Aerospace drilling company Tek4 is gearing up for an initial public offering in London, City AM can reveal, in a boost to the London Stock Exchange as it looks to tempt more defence firms to market. The Leicestershire-based company, which counts Rolls-Royce and GE among its customers, is looking to raise £20m through a listing [...]
Easyjet shares crash on fears of EU probe Aviation Shares in Easyjet plummeted on Wednesday after reports the European Union was preparing a probe into the ownership of airlines, potentially complicating the carrier’s mooted takeover by Apollo. The London-listed budget airline said this month it was likely to accept an all-cash offer from the US investment behemoth, trumping an earlier bid from another US [...]
Thames Water creditors offer government ‘golden share’ to fend off nationalisation July 21, 2026 The group of creditors vying to take control of Thames Water has said it is willing to grant the government a “golden share” in the company and offer local governments oversight of its operations as it looks to fend off nationalisation by Andy Burnham. In a statement today, London & Valley Water (L&VW), a group [...]
Top business group pitches Burnham for role as ‘delivery partner’ July 20, 2026 One of Britain’s top business groups is pitching itself as a delivery partner for Andy Burnham’s economic plans as the incoming Prime Minister pledges to deliver “growth in every postcode”. The British Chambers of Commerce, which has a presence in every region of the UK and represents some 50,000 businesses, is presenting itself as a [...]
Thames Water in the dark as Burnham mulls embattled utility’s future July 17, 2026 Thames Water and the group of creditors vying to buy it have had no engagement with Andy Burnham’s team as the incoming prime minister weighs whether to take full public control of the struggling utility, City AM understands. Burnham said earlier this year that Thames Water should be nationalised and has repeatedly called for greater [...]
City sizes up mystery Mahmood July 17, 2026 Executives and business groups have begun sizing up Shabana Mahmood and her past policy positions as they search for ways to engage the woman tipped to become Andy Burnham’s Chancellor next week. The emergence of Mahmood, who hails from the right of the party and cracked down on immigration in her role as home secretary, [...]
‘It’s gone’: How a social housing scheme left amateur investors tens of millions out of pocket July 1, 2026 A social housing investment scheme that promised amateur investors huge returns with no risk has collapsed into administration owing its backers nearly £27m, City AM has learned. Alderley Group, which invested in affordable housing projects across the North West of England, has left around 1000 investors out of pocket after claiming it could guarantee returns [...]
Exclusive: Santander’s Ebury eyes £100m Lumon takeover June 30, 2026 Ebury is weighing a takeover of foreign exchange firm Lumon as it looks to accelerate its expansion ahead of an initial public offering, City AM can reveal. London-based Ebury, which is majority-owned by Santander, is currently in talks with Pollen Street over a potential bid for Lumon that could value the company at north of [...]
‘Sh*tloads to come’: London takeover spree set to accelerate June 29, 2026 At a gathering of some of London’s top bankers in the City of London last week, the mood was one of uncertainty. On the one hand, London’s dealmakers are not in want of work. In the past two weeks alone Easyjet has opened the door to an approach from American private equity firm Castlelake, Ramsdens [...]
