By: Simon Hunt

City Editor Simon Hunt is City editor at City AM, covering the economy and financial markets. He was previously business correspondent for the Evening Standard and a reporter for Bloomberg News.

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Vattenfall energy portfolio poised to be snapped up by private equity firm

May 20, 2026

Swedish energy giant Vattenfall is poised to offload a portfolio of its British assets to private equity firm Reinova in the latest step in its retreat from the UK, City AM understands. The conglomerate, owned by the government of Sweden, is set to sell three of its heat network businesses to London-based Reinova Capital for [...]
Costco UK profit soars as Brits buy in bulk amid cost of living pressures

May 20, 2026

Profit at Costco’s UK subsidiary has soared as Brits flocked to the wholesaler to buy in bulk in a bid to swerve cost of living pressures. The grocery chain, which has 29 stores across the UK, including six in London, generated pre-tax profit of £218.6m in the year to the end of August 2025, a [...]
Mustafa Suleyman-founded Inflection AI to return to London

May 20, 2026

Silicon Valley startup Inflection AI is marking a return to London as the company forges ahead with its expansion plans, City AM can reveal. The artificial intelligence business was launched in 2022 by Deepmind co-founder Mustafa Suleyman and attracted early backing from Linkedin founder Reid Hoffman. It released its own large language model, Pi, and [...]
Tortilla Mexican Grill admits multi-million accounting blunder

May 19, 2026

Shares in Tortilla Mexican Grill tumbled in early trade on Tuesday after the firm admitted to a multi-million pound accounting blunder. The AIM-listed business said it identified £2.5m of spending in its French arm which was “not expensed through the profit and loss account,” meaning it previously overstated its profits for 2025 and in doing [...]
Cubitts plots expansion to Ireland despite swinging to £1m loss

May 18, 2026

Cubitts swung to a near-£1m loss in 2025 as the spectacle maker counted the cost of its US expansion plans. The London-based business opened its “first stores outside the warm but grey womb of the UK,” with two sites in New York City. Costs of setting up across the pond pushed the eyewear designer to [...]
Kainos shares lift as revenue surges on bumper NHS contract wins

May 18, 2026

One of Northern Ireland’s biggest technology firms has posted a surge in revenue on the back of a spate of NHS contract wins. Belfast-based IT services provider Kainos reported a 17 per cent rise in revenue to £431.1m for the year to end March, led by a 55 per cent jump in turnover from healthcare [...]
Brits now buy more BYDs than Land Rovers

May 13, 2026

I’ve been poring over the latest DVLA car registration data release, which came out a few days ago, covering the fourth quarter of 2025. There are lots of fascinating trends in there, and I’d encourage you to go and have a look yourself. But one thing that really caught my eye is that for the [...]
Trapstar: London clothing brand put up for sale on insolvency marketplace

May 13, 2026

A London clothing brand that has been worn by the likes of Jay Z and Rihanna has been put up for sale on an insolvency marketplace, City AM can reveal. Trapstar, which sells luxury streetwear popular with young people, is seeking a buyer to help meet working capital challenges. The brand, which was founded in [...]
Barclays mortgage subsidiary makes £5bn balance sheet whoopsie

May 12, 2026

Don’t you just hate it when you mix up millions with billions? No one is immune from such mistakes. Including, as it turns out, one of Britain’s biggest banks. A subsidiary of Barclays, the Kensington Mortgage Company, last week published its accounts. While revenue was up slightly to £83.4m, pre-tax profit fell by 90 per [...]
On the Beach shares slide as Brits delay booking holidays

May 12, 2026

On the Beach has suffered one of its biggest-ever single-day stock selloffs amid investor fears over a slowdown in holiday bookings. Shares in the Manchester-based business plunged 17 per cent to 140p after the London-listed business said it saw a more than 12 per cent fall in sales to £52.2m for the six months to [...]

Record number of central banks plan to increase gold holdings amid global volatility

Children as young as 14 are being targeted by unregulated gambling firms on social media

Old Pulteney releases 50-year-old whisky for 200th anniversary

By: Simon Hunt

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