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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Mortgage rate hikes cost London homebuyers £35,000

August 27, 2026

The surging mortgage rates caused by the Iran war have forced the average London homebuyer to fork out an extra £35,500 for their deposit. The rising cost of borrowing caused by the Middle East conflict has meant that the average deposit in the UK is £18,400 higher than in January – though costs have risen [...]
Brewdog founder James Watt hits out at ‘total silence’ over new venture

August 26, 2026

Brewdog co-founder James Watt has hit out at the “total silence” surrounding his latest venture, a drink designed to prevent hangovers. The craft beer tycoon wrote on LinkedIn: “Normally, if I cough loudly, three journalists file copy about it. Yesterday we did a world first and the press said nothing. “Not a peep. Total silence,” [...]
Octopus boss Greg Jackson calls for ‘urgent reform’ on energy as bills rise

August 26, 2026

Octopus boss Greg Jackson has called on Andy Burnham to deliver “urgent reform” to the energy market to protect households from “volatile” gas prices. Jackson, founder of the UK’s biggest household electricity supplier, said: “The government’s decision to take VAT off electricity and remove some of the levies from bills has helped soften the blow [...]
‘Broken promises’: Burnham under fire on cost-of-living plans as energy bills set to surge

August 26, 2026

Andy Burnham is facing pressure over his commitment to tackle the cost-of-living crisis as energy bills are set to jump again. Opposition figures have accused the Prime Minister of breaking Labour’s pledge to cut household energy bills, with one Tory figure dubbing the price hike “outrageous”. The price cap on bills is set to rise [...]
Gatwick takes ‘significant’ passenger hit from Iran war

August 26, 2026

Gatwick has suffered a “significant” decline in passenger numbers as a result of the Iran war after airlines cancelled flights to the region and holidaymakers swerved destinations like Cyprus, Greece and Turkey. The UK’s second-biggest airport saw total passenger numbers drop by nearly five per cent because of the Middle East conflict, weighing on revenue [...]
As it happened: Antofagasta leads FTSE 100 rally; oil falls as US-Iran deal ‘close’

August 26, 2026

Welcome back to the City AM FTSE 100 liveblog. The UK’s blue-chip index slipped on Wednesday morning, dragged down by oil majors BP and Shell, before recovering later in the day to be level with Tuesday’s close. Brent crude – the international benchmark – fell by more than two per cent on Wednesday to $86 [...]
The Danish retailer plotting to outsmart ‘unsentimental’ Modella Capital

August 25, 2026

On the modern-day British high street, a Scandinavian shop featuring maze-like aisles, quirky homeware and bags of licorice near the till is not quite a reinvention of the wheel. But Mikkel Grene, chief executive of Danish homeware retailer Søstrene Grene, believes his business can go toe-to-toe with Ikea and Flying Tiger for pride of place [...]
Lego builds record sales on World Cup and F1 fever

August 25, 2026

Lego has posted record first-half sales as its World Cup and Formula 1 ranges helped extend a red-hot run for the toymaking giant. The Danish firm saw revenue grow by 21 per cent to 41.9bn Danish kroner (£4.8bn) in the six months to June, while pre-tax profit jumped by a third to 11.3bn Danish kroner [...]
Housebuilder shares soar on Burnham council housing plans

August 25, 2026

Shares in the UK’s biggest housebuilders rose sharply on Tuesday morning after Andy Burnham revealed plans to spend an initial £10bn on affordable housing. In an announcement on Monday evening, the Prime Minister said the initial funding package would be used to build “thousands more quality council, social and affordable homes”. The funding would be [...]
Burnham shelves Thames Water administration plans over costs

August 25, 2026

Andy Burnham has paused plans to take public control of Thames Water over fears that it could saddle the taxpayer with a bill running into the billions of pounds. The Prime Minister had been considering putting the struggling utility into a special administration regime (SAR), which would allow the government to take partial control of [...]

New Mandelson files to be released ‘by Christmas’

Betfred ditch Derby sponsorship and blame Healey Budget tax hikes

Lepas L6 EV review: is the 279-mile Chery SUV worth it?

By: Felix Armstrong

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