David Buik: The City needs a bit more fun November 5, 2026 No one alive has worked in the City longer than David Buik. He tells Ali Lyon what’s changed since his first day in September 1962, and what, mercifully, has remained the same. It is 12:30 on a mild Tuesday afternoon, and as he takes to his blue leather stool and peruses his paper menu, David [...]
Will Andy Burnham’s stockpile missive start a tinned food revolution? November 5, 2026 If you are old enough to remember 70s London you will have heard of Big Biba, the fashion retailer that expanded into a huge, seven-storey department store on Kensington High Street in 1974. The opening of Big Biba mesmerised Londoners: the shopping experience was unlike anything else. The walls were adorned with groovy patterns while [...]
Poundland owner ‘commits to protecting jobs’ after pressure from business secretary November 4, 2026 Poundland’s owner has pledged to protect jobs at the embattled retailer after pressure from the business secretary and mounting political backlash over its handling of a sale process, a source told City AM. Gordon Brothers, the US investment firm which owns Poundland, met with Jonathan Reynolds this afternoon to discuss the future of the company [...]
Burnham urges Poundland owner to work with government to save jobs November 4, 2026 Andy Burnham has said Poundland’s owners must work with the government on a “practical solution” to secure the future of its workers and shops. The Prime Minister criticised Gordon Brothers, the US investment firm which owns the retailer, for failing to engage with the “viable propositions” which have been tabled by a number of bidders. [...]
Marks & Spencer boss accuses Labour of ‘biggest tax grab in history’ November 4, 2026 Marks & Spencer boss Stuart Machin has accused the government of mounting “one of the biggest tax grabs in history” in a scathing attack on Labour’s efforts to boost economic growth. The retail boss told reporters that the three Budgets since Labour came to power have resulted in about £73bn in extra taxes, claiming the [...]
Marks & Spencer boosted by food growth while fashion lags behind November 4, 2026 Marks & Spencer said its food arm is driving the retailer’s return to growth, while issues with stock and “trendy” designs slowed the comeback of its fashion business. The FTSE 100 retailer posted a £355m pre-tax profit in the six months to the end of September, up from £3m last year when a cyber attack [...]
Global markets cheer to ‘gridlock’ after Democrats sweep US midterms November 4, 2026 Global stocks rallied after the Democratic party swept the US midterm elections settings the country up for political “gridlock”. Democrats flipped control of both the House of Representatives and Senate, handing the party greater domestic control over US policy and introducing a major blocker to President Donald Trump’s agenda. In the US, a bill must [...]
As it happened: FTSE 100 rallies after Democratic sweep in midterms and oil retreats November 4, 2026 Welcome back to City AM‘s FTSE 100 liveblog. London’s blue-chip index has rallied into the afternoon while Wall Street also opened on the front foot after the midterm elections. Brent crude fell around $100 per barrel, extending the week’s decline as investors weighed up possible outcome of ongoing peace negotiations between the US and Iran. [...]
Weil Gotshal collapse exposes the fragility of law firm partnerships November 4, 2026 Law firm partnerships are inherently fragile due to their lack of residual equity value and transactional cultures, making them susceptible to sudden partner departures and bank-like runs – and proposed government restrictions on non-compete clauses will make it worse, says Stephen Phillips I was a partner in a couple of major global law firms. At [...]
Poundland owner ‘not acting in best interests’ of workers, says No10 November 3, 2026 Poundland owner Gordon Brothers is “not acting in the best interests” of the discount retailer’s staff and stores as it hurtles towards collapse, Downing Street has said. The Boston-based investment firm, which has faced intense criticism over its attempted sale of Poundland, must explain why it has rejected solvent offers to rescue the troubled retailer [...]