US and China resume tariff talks after Trump hails ‘great progress’ May 11, 2025 The US and China have resumed crucial tariff talks that have put the global economy on edge, with each side appearing to have diverging views of where the negotiations presently stand. President Donald Trump wrote on social media that “great progress” is being made and even suggested a “total reset” is a possibility as the [...]
Investors pin hopes on Burberry’s recovery amid China and US trade upheaval May 11, 2025 Investors are hoping Burberry can restore confidence in its turnaround efforts, as the brand weathers major trade disruption in China and the US and an under-pressure luxury market.
Kwik Fit founder Sir Tom Farmer dies aged 84, family says May 10, 2025 Scottish entrepreneur Sir Tom Farmer has died at the age of 84, his family has announced. Sir Tom, who founded the garage chain Kwik Fit, was also a former director of MyTravel Group and Scottish Power, died at his Edinburgh home on Friday. He owned a majority stake in Hibernian Football Club for 28 years, [...]
Work to recover Mike Lynch’s sunken superyacht paused after diver’s death May 10, 2025 Work to recover tech tycoon Mike Lynch’s sunken superyacht in Sicily has paused after a diver died. The man, believed to be a diver for Dutch firm SMIT Salvage, died during underwater work on Friday and an investigation will look into what happened. The vessel Bayesian was due to be raised from the seabed within [...]
Power restored to Heathrow terminals seven hours before flights resumed May 8, 2025 Power was restored to Heathrow airport’s terminals seven hours before flights resumed on the day it was closed because of a substation fire, an investigation has found. An interim report by the National Energy System Operator (Neso) found the flow of electricity to all four of the west London airport’s passenger terminals was restarted by [...]
India launches air strikes on Pakistan, as UK ready to ‘support’ deescalation May 7, 2025 The UK is ready to “support” both India and Pakistan to de-escalate tensions following an exchange of fire between the two nations, a minister has said. Trade Secretary Jonathan Reynolds said the situation in Kashmir was “hugely worrying”, just hours after signing a billion pound trade deal that had been three years in the making. [...]
Revealed: The 2025 City AM Awards Winners May 7, 2025 The winners of the 2025 City AM Awards were unveiled at a glittering ceremony in the heart of the Square Mile last night in front of 500 guests. The gongs were handed out on stage in the Guildhall, following a speech from former Bank of England Chief Economist Andy Haldane. City AM Editor-in-Chief, Christian May, [...]
How to shield your pension from Labour’s inheritance tax raid May 6, 2025 According to new analysis by Quilter, just two per cent of estates subject to inheritance tax (IHT) are currently taking advantage of surplus income gifting to reduce their tax liabilities. Based on freedom of information (FOI) requests carried out by the wealth management firm, just 1,490 estates are currently taking advantage of the rules, but Quilter expects [...]
Starmer speaks to Australian counterpart after ‘historic election win’ May 4, 2025 Sir Keir Starmer has spoken to Anthony Albanese after the Australian leader won a second term with his centre-left government. The Prime Minister congratulated Albanese on Sunday morning for his “historic election win” after he became the first Australian prime minister to win a second consecutive three-year term in two decades. “Australia and the UK [...]
Donald Trump says he does not know if he backs due process rights May 4, 2025 Donald Trump has refused to affirm his intention to uphold due process rights laid out in the US constitution. In a new interview, the US president also said he does not think military force will be needed to make Canada the “51st state” of the US, and played down the possibility he would look to [...]
