Royal London hits assets record amid pension push August 5, 2026 Royal London recorded a new record high for assets under management, as the group was buoyed by resilient market activity and an influx of pension wealth. Assets under management (AUM) climbed to £212bn, up from £199bn at the end of the last financial year, driven by positive market movements and investors taking the “Iran war [...]
Ekovolt Welcomes Éric Scotto, Co-Founder of Akuo Energy, as a Shareholder, and Rebrands as Pont Digital Infrastructure August 5, 2026 Ekovolt, a holding company focused on the development and investment in next-generation data centre infrastructure, and co-owner of Voltekko, a Southern European data centre development platform, today announces two milestones: Éric Scotto — co-founder and former President of Akuo Energy, a pioneering figure in the French and international energy transition — becoming a shareholder, and [...]
L&G cheers push into private credit as profit jumps August 5, 2026 Legal & General cheered a rise in profit amid a greater push into private credit by its asset management arm. The FTSE 100 firm toasted the “continued fundraising success” across its private markets investments as it vowed to increase investment over the next two years. Total private markets assets under management (AUM) jumped by more [...]
Moove Raises $250 Million at $2.1 Billion Valuation to Scale the Global Infrastructure Layer for Autonomous Mobility August 5, 2026 Led by Mubadala Investment Company "Mubadala", and co-led by Woven Capital (Toyota) and Ion Pacific, the Series C accelerates Moove’s global infrastructure platform for autonomous mobility as the market shifts from breakthrough technology to scaled deployment. $250 million Series C values Moove at $2.1 billion, cementing its position as the category defining infrastructure company for the autonomous mobility economy Moove is building the core operating layer for autonomous mobility globally through integrated fleet management, robotics-first depot infrastructure, and 24/7 operations Through its partnership with Waymo, Moove is already a leading third-party autonomous vehicle fleet manager, with operations live or announced across Phoenix, Miami and London Moove’s autonomous strategy is grounded in five years of building and operating mobility infrastructure at scale, from an initial launch of 76 vehicles in Lagos to approximately 42,000 vehicles across 29 cities (13 countries) and achieving an ARR of $420 million
Next hikes targets as heatwave boosts sales August 5, 2026 Next has upgraded its profit targets for the year after breezing past second quarter expectations, putting its shareholders in line for a bumper payday. The FTSE 100 retail giant hiked its pre-tax profit expectations for 2026 to £1.24bn, around £25m higher than previously estimates. If achieved the figure would mark 7.3 per cent growth on [...]
As it happened: Stocks rise as oil fluctuates after Red Sea attack; US-Iran deal ‘being circulated’ August 5, 2026 Welcome back to the City AM liveblog. Oil prices have snapped a losing streak following Yemen’s Houthis said they had attacked a Saudi vessel in the Red Sea. Brent crude drew back above the $80 per barrel mark on Wednesday morning on the news, but prices were still down for the week by around 10 [...]
Ask the expert: How do I avoid double tax on my pension? August 5, 2026 Got a question for our expert? Email asktheexpert@cityam.com Fidelity personal financial specialist Marianna Hunt is back on hand to answer your burning questions, and today a reader is looking to avoid the incoming double tax blow. Q: I’m hoping to retire soon and am just deciding where I will draw my income from. I had [...]
IPOs aren’t the new meme stocks August 5, 2026 The market may be producing bigger IPO stories. like SpaceX and Anthropic, but that doesn’t mean retail investors are blindly buying the hype, says Carl Hazeley If you only read the headlines, you’d think retail investors had found their next obsession: blockbuster IPOs. SpaceX has dominated the conversation again this week as investors digest its [...]
Where are Andy Burnham’s economic advisers? August 5, 2026 Andy Burnham’s allies boasted that highly-regarded economists had been lured as advisers. Mauricio Alencar and Ali Lyon report on the non-appointments of some of Britain’s best economists – and what the Prime Minister and Chancellor’s new teams look like. In the end, all it took was a few rumours. In the weeks leading up to [...]
Dante Mayfair at Claridge’s review: How about a five-martini dinner? August 5, 2026 How many martinis is too many? Adam Bloodworth works that out over dinner at the new Claridge’s restaurant, Dante Mayfair An obvious question comes to mind when thinking about the new restaurant at Claridge’s: Why? Why has a quintessentially British hotel invited a restaurant from New York to open a permanent venue on their premises? [...]