FCA orders lenders to pay £11bn in motor finance compensation October 7, 2025 The Financial Conduct Authority (FCA) has announced that it expects lenders to make 14.2 million payouts to individuals affected by unfair motor finance agreements, totalling around £11bn in compensation. The FCA estimates people would receive around £700 per agreement, on average. It has also been calculated that around 85 per cent of eligible consumers would [...]
Square Mile darling Farmer J bags $23m funding to take on New York October 7, 2025 London’s fast-casual darling Farmer J is heading across the pond after securing a $23m (£17.5m) funding round to launch its first New York flagship later this year, City AM can reveal. The investment, led by existing backer Beringea and joined by a new global hospitality investor, will also fuel three additional London openings before year-end, [...]
Exclusive: Everton bidder Manoukian launches athlete neobank Stadion October 7, 2025 It was in the early summer of 2024, when Everton were in the eye of a storm caused by the disintegration of their prospective owners, 777 Partners, that Vatche Manoukian’s name suddenly hit the headlines. The London-based Armenian, a former finance lawyer turned investor, emerged as a potential saviour to the cash-strapped Merseyside football club [...]
Topshop and Topman losses revealed before John Lewis move October 7, 2025 Losses at the joint venture behind Topshop and Topman have been revealed ahead of the brand’s return to UK stores next year. The brands were sold by online clothing retailer Asos to a joint venture alongside Danish retail tycoon Anders Holch Povlsen’s Heartland in September 2024. Asos had previously acquired Topshop and Topman along with [...]
Labour’s tobacco bill risks empowering black market, warns shadow minister October 7, 2025 The Labour government’s proposed Tobacco and Vapes Bill could hand a significant boost to criminal gangs and fuel the growing black market in illicit goods across the UK, the shadow policing minister has warned. Matt Vickers MP has told City AM that the legislation, aimed at curbing smoking and youth vaping, fails to address the [...]
Is HMV making a comeback in the age of Spotify? | Boardroom Uncovered October 7, 2025 In the latest episode of Boardroom Uncovered, City AM’s UK Editor Jon Robinson sits down with Phil Halliday, Managing Director of HMV, to unpack the storied retailer’s unlikely resurgence. Once a cautionary tale of the high street’s decline, HMV has quietly engineered a turnaround, with Halliday at the helm steering Britain’s most famous music shop [...]
Equity fund exodus as market highs ‘running on fumes’ October 7, 2025 Equity fund outflows hit a fresh record in the third quarter despite leading share indices reaching market highs, fresh data has revealed. Investors pulled £3.64bn from equity funds in the three months to the end of September, according to figures compiled by global funds network Calastone, representing the worst three-month outflow on record. That included [...]
Governments owe $80bn in investor-state Arbitration losses October 7, 2025 Investor-state disputes have more than doubled over the last decade, with decisions against governments totalling over $250m (£186m), and governments’ debts accumulating over $80bn (£60bn). Investor-state disputes enable overseas investors to recoup some of their investment if a government breaches its investment treaty obligations. Arbitration, an out-of-court method, is the preferred system for resolving these [...]
Hellofresh sinks further into the red as 900 UK jobs lost October 7, 2025 The UK arm of Hellofresh has sunk deeper into the red as its sales were cut during its latest financial year, it has been revealed. The division has reported a pre-tax loss of £19.5m for 2024, new accounts filed with Companies House show. The latest figure comes after Hellofresh posted a loss of £755,000 in [...]
Jaguar Land Rover production to restart October 7, 2025 Manufacturing at Jaguar Land Rover will partially restart as soon as Wednesday, the firm has said, a month and a half after a crippling cyberattack forced the UK’s largest carmaker to halt its production line. In a statement released on Tuesday, the Tata Motors-owned car brand confirmed that a phased restart at two of its [...]