Profit at The Macallan whisky owner slashed as sales slide July 2, 2025 Profit at Edrington, the owner of whisky label The Macallan, slumped by more than a quarter during its latest financial year as its sales slid, new figures have revealed. The Glasgow-headquartered group, whose brands also include Highland Park and Glenrothes, has posted a pre-tax profit of £274.4m for the year to 31 March, 2025. The latest [...]
Reeves on growth ‘hell slide’ after welfare U-turn as rebels call for wealth tax July 2, 2025 Rachel Reeves faces a “hell slide” in her ambition to balance economic growth with her “iron clad” fiscal rules following Labour’s U-turn on welfare. The Chancellor had hoped government plans for welfare reform would shed £5bn in spending as they targeted restrictions on personal independence payments (PIP) and limited the sickness-related element of universal credit. The [...]
Whisky Business: Commando Spirit’s unique brand July 2, 2025 Whisky Business: City AM’s monthly look at the world of whisky. A handful of big-name brands dominate the world of whisky, but there’s a growing number of smaller, artisan whisky brands carving out niches in the market. One of these is Commando Spirit, the brainchild of retired Royal Marines Brigadier Rory Copinger-Symes CBE. Commando Spirit is [...]
Greggs: Shares crater as sweltering June set to hit profit July 2, 2025 Greggs has said it expects to report lower annual profit than last year as scorching temperatures in June impacted sales. The company told markets this morning that total sales in the first half of the year grew 6.9 per cent to £1.3bn, although like-for-like sales grew just 2.6 per cent. Shares fell by more than [...]
Built to Scale: Why the capital’s most innovative businesses are moving to Design District July 2, 2025 On a bright, sunny day on Greenwich Peninsula stands an enclave of 14 modern, uniquely designed buildings. Just one stop from Canary Wharf on the Jubilee Line and only 9 minutes from London Bridge, Design District is ideally situated near North Greenwich station, with the O2 Arena and the River Thames just moments away. What [...]
Cuts, struggles and breakups: How is AI reshaping the consultancy sector? July 2, 2025 Amidst the job cuts at Big Four, crisis mode is rearing at consultancy firms as the industry struggles to keep up with the AI world
Evita, Palladium review: Rachel Zegler isn’t the problem July 2, 2025 Evita, Palladium review and star rating: ★★★ Whole PHDs could be written about the publicity campaign for Jamie Lloyd’s Evita. Hundreds of people are gathering outside the Palladium every night to watch Rachel Zegler belt ‘Don’t Cry for me Argentina’ from the theatre balcony for free, a fun PR stunt that is getting so popular [...]
Lloyd’s chair says marketplace must ‘extend’ leading position July 1, 2025 The new chair of Lloyd’s has vowed to “strengthen and extend” the insurance marketplace’s industry leading position after the sector was identified as a ‘frontier industry’ in the government’s newly minted Industrial Strategy. In a speech seen exclusively by City AM, Sir Charles Roxburgh hailed the “success of Lloyd’s and the London insurance market”, saying [...]
Aviva’s £3.7bn takeover of Direct Line approved by UK watchdog July 1, 2025 Aviva’s acquisition of smaller insurance peer Direct Line has been approved by the competitions watchdog, paving the way for the formation of Britain’s biggest home and motor insurer. The £3.7bn takeover will not be subject to a phase-two investigation, the Competition and Markets Authority (CMA) said on Tuesday, after a preliminary probe to assess whether [...]
How to solve the UK’s non-dom conundrum July 1, 2025 After industry experts poured cold water on Reform’s ‘Britannia Card’, and amid rumours the Chancellor is examining options to row back on elements of her non-dom reforms, Ali Lyon asks what policies might be on the table – and whether they will work. As Nigel Farage stepped up to a mundane-looking podium in a stuffy [...]