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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Tui hit by Middle East travel chaos and rising fuel costs

August 12, 2026

Tui has suffered a slip in earnings at its airlines business as the Iran war continues to wreak havoc on global tourism routes and spike fuel prices. The Frankfurt-listed group, which is the world’s largest travel and tourism firm, swung to a €17m loss in its airlines arm in the six months to June, reversing [...]
Balfour Beatty ups profit forecasts as it defies construction gloom

August 12, 2026

Balfour Beatty has boosted its earnings and cash flow targets, as the construction firm’s “real momentum” defies wider gloom facing the sector. The group, which works with the government on major infrastructure projects, has seen the value of its order book jump by 17 per cent to £22.9bn in the six months to June, as [...]
Brits think supermarkets are profiteering – despite slowing food inflation

August 12, 2026

The majority of Brits think that supermarkets are profiteering from rising food prices caused by the Iran war despite the Chancellor John Healey recently admitting there was little evidence of the practice, new polling has revealed. Some 70 per cent of UK voters believe that supermarkets are making “excessive” profits from food inflation, according to [...]
John Lewis’ new boss faces a battle to boost online sales

August 12, 2026

Another cloud appeared in an already gloomy sky for John Lewis on Monday, when its managing director, Peter Ruis, announced his surprise departure. Just days before, an internal interview with the group’s chair, Jason Tarry, was leaked to the press, in which he warned of a “really tough” period for the firm. Ruis’s decision to [...]
Ari Emmanuel snaps up West End theatre group ATG for £4.5bn

August 11, 2026

Hollywood tycoon Ari Emmanuel has snapped up the theatre group behind West End venues including the Savoy and the Ambassadors in a deal worth around £4.5bn. Emmanuel, who runs an A-list media agency and helms the group which owns UFC, said the deal underscores the “growing power of live experience and the passionate audiences it [...]
Heathrow overtaken by Istanbul as Europe’s busiest airport

August 11, 2026

Heathrow said the case for expansion has “never been clearer” after it was overtaken by Istanbul as Europe’s busiest airport. The West London transport hub has long been Europe’s busiest travel destination, and is currently locked in a dispute with the regulator over its plans for a third runway. “The case for expansion has never [...]
Housebuilder Bellway calls for ‘immediate’ cut to stamp duty

August 11, 2026

Housebuilder Bellway has called on the government to slash stamp duty immediately and roll out a first-time buyer scheme to revive Britain’s flagging housing industry. The FTSE 250 firm said on Tuesday that housing demand has been hammered by last year’s pre-Budget speculation and the recent rising mortgage rates triggered by the Iran war. Jason [...]
Burnham to crack down on vape and betting shops

August 11, 2026

Andy Burnham is set to unveil a crackdown on vape and betting shops in a bid to boost British high streets, which the Prime Minister says have been “hollowed out” in recent decades. Burnham will on Tuesday set out plans to scrap the Blair-era “aim to permit” rule, which requires councils to accept planning applications [...]
Holiday Inn owner suffers Middle East slowdown as Iran war hits tourism

August 11, 2026

The owner of Holiday Inn has suffered a slump in revenue at its Middle Eastern business as the Iran war knocked the region’s tourist economy. Intercontinental Hotels Group (IHG) said its revenue per available room in the Middle East slipped by 19 per cent in the three months to June. This followed a two per [...]
Five-star Mayfair hotel hit with HMRC winding-up petition

August 11, 2026

A five-star Mayfair hotel has been hit with a winding-up petition by the UK tax authority, just months after the sudden departure of its managing director. The Stafford London, a 107-room luxury hotel, was served the petition by HMRC after a filing was made to the High Court, City AM can reveal. A winding-up petition [...]

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By: Felix Armstrong

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