Natwest chair: Boost investment in UK or risk ‘inter-generational crisis’ Economics The chair of Natwest has warned the UK is in a “moment of national crisis” that can only be fixed by firing up investment in the country’s flagging economy. Rick Haythornthwaite, the City grandee who has also chaired the boards of Mastercard and Ocado, told City AM that years of political instability and poor decision-making [...]
Former Formula 1 champion loses £1.4m HMRC tax bill appeal Sport Business Former Formula 1 world champion Jody Scheckter has been forced to stump up £1.4m in unpaid tax after an appeal against an HMRC ruling on his buffalo farm failed in court. The 1979 F1 title-winner was forced to close the buffalo farm business in 2024 due to “significant increases in costs, a reduction in milk [...]
Asda in ‘foothills of recovery’ as grocer returns to growth Retail Asda has posted sales growth for the first time in more than two years, marking a “major milestone” in the turnaround led by Allan Leighton on his comeback at the grocer. The discount supermarket saw like-for-like sales excluding fuel grow by 0.2 per cent in the seven weeks to mid-August. Like-for-like food sales jumped by [...]
Wine to buy this week: The very best Pinot Noir on the shelves August 27, 2026 Last week it was Pinot Noir Day and, though I am sorry not to have forewarned you, I can reassure you that I thoroughly celebrated and am able to recommend the best to buy right now. Pinot Noir is known as the ‘Heartbreak Grape’. It is stubborn, unpredictable, sensitive and tantrum-inducingly difficult to grow. Yet [...]
Ocado lets Marks & Spencer off hook in £190m payout dispute July 28, 2026 Ocado has quietly let Marks & Spencer off the hook in a long-running £190m dispute over its home delivery joint venture. FTSE-250 Ocado has dropped its pursuit of the payout from M&S, which it believed it was owed as part of the business they run together, City AM understands. The two companies took a 50-50 [...]
As it happened: Stocks jump as oil drops; Unilever shares soar on decade-best sales July 28, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday and the UK’s blue-chip index has made strong gains following a peaky start to the day. The markets took a boost yesterday after oil dropped back after reaching two-month highs of more than $100 per barrel last week when the Iran backed-Houthis took responsibility for tanker [...]
Ocado boss Steiner ‘energised about future’ despite succession battle July 16, 2026 Ocado boss Tim Steiner has insisted he is “as excited and energised” about the firm’s future following a battle over his succession which will see him depart in around 18 months. The co-founder and chief executive of the FTSE 250 firm is expected to step back from his current role as soon as December 2027 [...]
As it happened: Stocks drop on Trump-Iran warning; Mahmood tipped to be chancellor July 16, 2026 Welcome back to the City AM liveblog. The UK has received fresh economic growth data this morning which has put GDP expansion at a sluggish 0.1 per cent for the month of May. The services sector – which contributes more than 80 per cent of total economic output – grew 0.3 per cent against steep [...]
Why chilled red wine is the coolest thing to drink right now July 13, 2026 Rosé is a safe summer bet, but the coolest thing to be drinking right now, in more ways than one, is a chilled red. There was an inkling that this was going to be a thing last summer, but now that chilly glass of rouge has its feet well and truly under the table. I [...]
Ocado founder Steiner set to quit as boss after board coup July 6, 2026 Ocado chief executive Tim Steiner will quit the business he founded as part of a replacement plan masterminded by chairman Adam Warby. The FTSE 250 firm, which offers online shopping and warehouse automation services, said on Monday that Steiner will depart at the start of its 2028 financial year. Ocado’s share price fell nearly five [...]