Uber drivers plot exodus as platform swerves ‘taxi tax’ January 13, 2026 Uber is staring down the barrel of a potential driver exodus as members of its fleet threaten to jump ship to rival apps or return to black cabs, following a new year contractual overhaul designed to swerve a huge VAT bill. Documents seen by City AM show a wave of fury in private messaging groups, [...]
OpenAI could face more hurdles for IPO than Anthropic January 12, 2026 As artificial intelligence giants inch towards the public markets, copyright litigation is becoming an increasingly influential factor in how investors assess risk. And with that in mind, Anthropic appears to be starting from a less complicated position than its larger rival, OpenAI. Analysts at Bloomberg Intelligence have said the Claude founder faces “significantly less legal [...]
AI and defence demand for chips sends IQE shares soaring January 12, 2026 Shares in semiconductor giant IQE surged 25 per cent to 9.18p on Monday morning, after the wafer supplier said it expects its full year results to hit the upper end of its guidance, thanks to a recovery in AI and defence-related demand. The Cardiff-based company now forecasts 2025 revenue of around £97m, and adjusted earnings [...]
FTSE 100 Live: Barclays slumps on credit card cap, Fed’s Jerome Powell faces probe January 12, 2026 Good morning from the City AM liveblog team. The FTSE 100 broke through the five-figure mark last week in a welcome start to the year for the London markets. The index saw its best annual performance in 2025 since the recovery from the financial crash in 2009. That was helped along in no small part [...]
UK job applicants double amid AI-driven squeeze January 9, 2026 Britain’s hiring market has become more competitive than any major economy, City AM understands, as workers and recruiters struggle to adapt to AI in recruitment. Britain’s job market is entering an AI-driven bottleneck, with the number of applicants per open role having more than doubled since Spring 2022, according to data shared by LinkedIn. The [...]
UK threatened with sanctions if Starmer blocks Musk’s X January 9, 2026 The UK has been warned it could face US sanctions if Sir Keir Starmer attempts to block Elon Musk’s social media platform, X, amid mounting concern over its AI tool generating sexualised images of women and children. Anna Paulina Luna, a Republican Congresswoman and ally of Donald Trump, said she was drafting legislation that would [...]
FTSE 100 Live: Sainsbury’s and Unite dish shareholders cash; Mining merger talks January 9, 2026 Good morning and welcome back to the City AM liveblog. It was Britain’s retail sector taking centre stage yesterday amid a fresh influx of corporate updates that gave a snapshot of the industry’s December performance. Tesco came out swinging, revealing its market share had climbed to the highest in 10 years after a Christmas sales [...]
Government urged to quit X following ‘appalling’ Grok scandal January 8, 2026 Keir Starmer has been urged to pull his government off Elon Musk’s social media platform, X, after a former cabinet minister dubbed the platform ‘unconscionable’. Labour MP Louise Haigh, former transport secretary, has warned that her party and the government should entirely quit the site. This pressure comes in the wake of this week’s reports [...]
Microsoft rides the Wayve as self driving cars hit London streets January 8, 2026 Microsoft announced its strengthened partnership with British born autonomous driving startup Wayve on Thursday, in a move set to bring the tech into commercial use. This collaboration, based largely on Microsoft Azure, provides its infrastructure to both train and operate the AV firm’s AI into complex urban environments such as London. Founded in 2017 in [...]
M&S shakes off cyber chaos with strong Christmas sales January 8, 2026 Marks & Spencer (M&S) has delivered a steadier than feared Christmas trading update, offering some festive cheer for investors after a year, overshadowed by a costly cyber attack and months of disrupted online sales. The retailer reported group sales of £5bn for the 13 weeks to 27 December, up 3.3 per cent excluding Ocado Retail, [...]
