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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Blow to Thames Water as KKR pulls out of equity raise

June 3, 2025

Thames Water’s battle to escape nationalisation has suffered a hammer blow after KKR withdrew its bid to acquire an equity stake in the business. The US private equity giant had been selected as a preferred partner for the debt-laden utility business as part of its efforts to raise funds, with KKR having “prepared detailed plans, [...]
Pound edges closer to multi-year high against dollar amid erratic US tax policy

June 2, 2025

The pound has edged closer to a multi-year high against the dollar as investors doubled down on predictions that the greenback would continue to weaken into the second half of the year. Sterling was up around 0.6 per cent against the dollar by Monday evening to $1.3523, a rise of more than 8 per cent [...]
Valterra Platinum: Shares rise on London debut after Anglo American demerger

June 2, 2025

Shares in Valterra Platinum rose on Monday in a positive start to the mining company’s London debut following its $11bn demerger from Anglo American. The secondary London listing, in which shares nudged up 1.8 per cent at the end of the first day’s trading, follows an earlier primary listing in Johannesburg. Valterra’s London-listed shares have [...]
Vodafone completes £15bn Three mega-merger with major pledge

June 2, 2025

FTSE 100 giant Vodafone has vowed to invest as much as £1.3bn in network infrastructure over the next 12 months after completing its blockbuster £15bn merger with British rival Three. The capex commitment is part of a pledge to invest £11bn over the next decade by the combined entity, which will be called VodafoneThree and [...]
William Hill accidentally announces death of King Charles

May 29, 2025

William Hill has deleted an accidentally-published webpage in which it responded to the “passing” of King Charles. In a statement that appeared on the customer service section of its website, the betting and gambling firm said: “William Hill wish to express our sadness at the passing of King Charles III and are taking steps to [...]
Trump tariff policy in tatters after being ‘declared invalid’ by US court

May 29, 2025

Donald Trump’s sweeping global tariff plans have been thrown into doubt after a court said the US President’s executive orders under which they were introduced were “declared to be invalid as contrary to law.” The US Court of International Trade found that the president lacked the authority to use emergency economic powers legislation when he [...]
Rachel Reeves to set ‘binding’ pensions allocations in megafunds launch

May 29, 2025

Rachel Reeves has confirmed plans to set “binding” allocations in pension funds as the government prepares for the launch of “megafunds” to encourage fresh investment into UK infrastructure and businesses. The Treasury said it would “take a reserve power” in the upcoming Pension Schemes Bill “to set binding asset allocation targets,” a move it said [...]
Which taxes could Rachel Reeves raise in the Autumn Budget

May 29, 2025

Rising borrowing costs, u-turns on spending cuts and a wafer-thin fiscal headroom all point to one thing: Chancellor Rachel Reeves is widely expected to put up taxes later in the year. But given Labour’s manifesto commitment to avoid tax rises on “working people”, and the pain felt by businesses over National Insurance hikes, many are [...]
‘Extraordinary denial of reality’: Ricardo shareholder pens open letter amid vote to oust chair

May 28, 2025

One of the largest shareholders in transport and energy consultancy Ricardo has blasted the firm’s “blinkered perspective” and “extraordinary denial of reality” ahead of a vote to oust its chair. Science Group, which controls around a fifth of the share capital of the London-listed business, earlier this month called for a general meeting of shareholders [...]
UK public spending will swell to more than half of GDP, IMF warns

May 28, 2025

The British state will swell to more than half the total size of the UK economy under the government’s current plans, the International Monetary Fund has warned, as it sounded the alarm on “tough policy decisions” needed to meet ballooning spending. Total public expenditure is projected to grow by eight percentage points over the next [...]

Superdrug owner eyes up London float in $30bn dual listing

Enhanced Games sells drugs and true cost won’t be known for many years

Jinkx Monsoon’s Judy Garland musical proves drag is serious art

By: Simon Hunt

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