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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Lord Ashcroft bought shares in Mitie on day it made offer for firm he founded

June 10, 2025

Lord Ashcroft bought shares in Mitie on the same day it unveiled £370m takeover talks for a business he co-founded, City AM can reveal. The peer and Tory grandee spent £1m acquiring 714,600 shares in the facilities management company on Thursday 5 June, company filings show, the day the firm confirmed it was in talks [...]
Bargain basement Britain: Tech takeovers continue with three billion-pound swoops in a day

June 9, 2025

The frenzy of UK tech takeovers showed no signs of slowing down on Monday after three separate billion-pound M&A moves were made within hours of each other as US tech giants continued their hunt for British bargains. First to announce a move on Monday was London-listed semiconductor firm Alphawave, which confirmed it had reached an [...]
Alphawave reaches deal on Qualcomm takeover

June 9, 2025

Alphawave is poised to become the latest tech firm to quit the London Stock Exchange after reaching a $2.4bn (£2.8bn) deal to be acquired by Qualcomm. The British semiconductor business said its board would now recommend to shareholders the terms of the acquisition after weeks of talks, which began in April. The cash offer of [...]
Rachel Reeves may have to ‘revisit’ manifesto tax pledges to meet fiscal rules, economists warn

June 6, 2025

Rachel Reeves may have to tear up Labour’s manifesto tax commitments to meet her tight fiscal rules, economists have warned, as the Chancellor battles to balance the books amid calls for higher spending on defence and welfare. A suite of new day-to-day spending commitments made by the Treasury in recent weeks, including reversing cuts to [...]
‘A tax burden without precedent in the 21st Century’: Pub chain McMullen’s blasts government tax hikes

June 6, 2025

One of Britain’s biggest pub chains has taken aim at the government’s “damaging” tax hikes, warning they will lead to lower demand and investment and have forced the hospitality sector to “bear the brunt” of rises in government spending. Hertford-based McMullen’s, which operates around 120 pubs in London and the home counties, including the Old [...]
Will the Bank of England’s quantitative tightening torpedo Reeves’ fiscal rules?

June 5, 2025

Rachel Reeves is in a pickle. At under £10bn, the Chancellor’s self-imposed fiscal headroom – the Treasury’s wiggle room within its fiscal rules – is already wafer-thin by historic standards. And it is under intense strain, given a recent slew of billion-pound government spending pledges such as reversing winter fuel payments cuts and scrapping the [...]
Exec behind Lloyds mass affluent push quits within days of launch

June 4, 2025

A Lloyds exec behind the bank’s push to attract “mass affluent” customers has departed within days of the launch of its new service. Jo Harris, who has been with the FTSE 100 bank for more than a decade, would be leaving at the end of the month, according to an internal memo seen by the [...]
CAB Payments turns to New York to revive fortunes

June 4, 2025

The London fintech behind the “worst IPO of the year” in 2023 is seeking to revive its fortunes with an expansion to New York after it secured a licence to operate in the US. CAB Payments told markets on Wednesday that it has received approvals from the Federal Reserve and The New York State Department [...]
Ninety One: Asset manager hopeful of ending years of outflows

June 4, 2025

Ninety One was hopeful of ending years of fund outflows after the FTSE 250 firm recorded a positive second-half performance. The asset manager, which is based in London and Johannesburg, has recorded only a single year of net inflows since its 2020 flotation after clients pulled a combined £25bn from the firm. But on Wednesday, [...]
British Steel braces for fresh Trump tariff blow

June 3, 2025

The British steel industry is gearing up for the hammer blow of fresh US tariffs after Downing Street could not confirm that steelmakers would be exempt from the levies. The UK government unveiled a trade deal with the US last month, under which metal exports would be exempted from punitive tariffs. But negotiations on the [...]

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By: Simon Hunt

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