By: Felix Armstrong

Retail Reporter Felix Armstrong is City AM's retail reporter, covering retail, hospitality and property news. He has previously written for The Times, The Guardian, The Telegraph and The i Paper. Email Felix at Felix.Armstrong@cityam.com

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As it happened: John Healey named Chancellor as Burnham shakes-up cabinet

July 20, 2026

Welcome back to the City AM liveblog. Andy Burnham has become the UK’s newest Prime Minister, succeeding Sir Keir Starmer just two years after his landslide win at the 2024 general election. Starmer visited the King this morning to give him his resignation. In his farewell speech outside Number 10, the outgoing Prime Minister said [...]
Iran war woes cause jump in London-listed profit warnings

July 20, 2026

The rising energy costs and fragile consumer confidence caused by the Iran war have driven a jump in the number of profit warnings issued by London-listed firms. UK-listed companies issued 59 profit warnings in the first half of this year, up from 55 last year, with more than half of these being blamed on policy [...]
Thames Water creditors open door to public control under Burnham

July 19, 2026

The creditors seeking to gain control of Thames Water have opened the door to greater public control of the struggling utility in a bid to bring Andy Burnham’s team to the negotiating table. Mike McTighe, the turnaround specialist who has been working with the group on an overhaul of Thames Water’s board, has called on [...]
Temporary inflation slowdown set to boost Burnham

July 19, 2026

Inflation is expected to have eased last month in a welcome but temporary boost for Andy Burnham’s incoming government. The headline rate of Consumer Prices Index (CPI) inflation is tipped to have eased from 2.8 per cent in May to 2.6 per cent in June, according to some economists. The latest rate of inflation will [...]
Burnham scraps digital ID scheme

July 19, 2026

Andy Burnham will scrap Labour’s digital ID scheme when he becomes Prime Minister, as part of a “reset of priorities” over the cost of living crisis. The incoming Prime Minister said on Saturday that he would ditch the programme, set out only months ago by Sir Keir Starmer, and spend the money saved on “improving [...]
Burnham risks £4bn bill in Thames Water special administration

July 19, 2026

Andy Burnham’s plans to push Thames Water into special administration could leave the taxpayer to foot a £4bn bill. The incoming Prime Minister is facing a crunch decision over how to deal with the struggling utility and is expected to use a special administration regime (SAR) to keep it running until a buyer is found. [...]
James Watt eyes entire Brewdog UK business in comeback swoop

July 17, 2026

James Watt’s shock comeback bid for Brewdog would see him take control of the craft beer firm’s entire UK and Australian operations, City AM has learned. The Scottish entrepreneur, who co-founded Brewdog, has proposed to buy back the company’s entire operations excluding its US arm. Watt’s bid marked a new twist in the dramatic Brewdog [...]
Frasers slams ‘nonsense rumours’ over Harvey Nichols bid

July 16, 2026

The boss of Frasers has hit back at “nonsense rumours” that retail brands are reluctant to work with the group, which is known for making aggressive plays to take control of rival companies. The group, which owns Sports Direct and Flannels, gatecrashed the auction to buy luxury department store Harvey Nichols last week, despite some [...]
Crest Nicholson shares slump as lender talks drag on

July 16, 2026

Crest Nicholson shares dropped after the housebuilder posted a £35m loss and told investors it is still locked in talks with its lenders. The London-listed firm had delayed the publication of its results in the hopes of seeking emergency permission from its creditors to loosen the terms of its debt, but said on Thursday that [...]
Ocado boss Steiner ‘energised about future’ despite succession battle

July 16, 2026

Ocado boss Tim Steiner has insisted he is “as excited and energised” about the firm’s future following a battle over his succession which will see him depart in around 18 months. The co-founder and chief executive of the FTSE 250 firm is expected to step back from his current role as soon as December 2027 [...]

Lord O’Neill declines job in Burnham government

Illegal Premier League betting could hit £1bn within year

Meet the Destrier, Bugatti’s most extreme one-off yet

By: Felix Armstrong

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