Social media ban driving ‘screen-free’ sales, The Works boss says July 23, 2026 The boss of discount retailer The Works has said the government’s crackdown on social media usage has driven customers towards the “screen-free activities” offered in his stores. Gavin Peck, chief executive of the Aim-listed retailer, believes Labour’s incoming social media ban has pushed up demand among parents for analogue activities for their children and was [...]
Allegion (NYSE: ALLE) Reports Q2-2026 Financial Results July 23, 2026 Low-Double Digit Revenue Growth, High-Teens EPS Growth; Raising Full-Year 2026 Outlook Quarterly Financial Highlights (All comparisons are year-over-year, unless otherwise noted) Net earnings per share (EPS) of $2.15, up 16.2% compared with $1.85; Adjusted EPS of $2.40, up 17.6% compared with $2.04 Revenues of $1,151.5 million, up 12.7% on a reported basis and up 6.9% on an organic basis Operating margin of 22.1%, compared with 21.5%; Adjusted operating margin of 24.2%, compared with 23.7%
‘Door is open’ to interest rate hike as inflation fears return July 23, 2026 An interest rate hike by the Bank of England this year is back on the cards as fears of continued oil and gas trade disruption across the Strait of Hormuz could push inflation higher, according to City economists. A spike in oil prices to levels seen during the Iran war has dampened the mood across [...]
‘Ever-widening gap’: Wetherspoon boss Tim Martin urges Burnham to cut more pub taxes July 23, 2026 JD Wetherspoon boss Tim Martin has called on the Prime Minister to go further to reduce the soaring tax burden faced by pubs. The chairman of the UK’s best-known pub chain said Burnham’s decision to slash business rates for pubs is an “implicit recognition that the hospitality sector is over taxed”. The Prime Minister announced [...]
Roasting heat putting Brits off roasts, warns Toby Carvery owner July 23, 2026 The sweltering summer heat has put Brits off their roasts, one of the UK’s biggest pub companies has warned, after the country set a fresh June temperature record. The owner of Toby Carvery, which offers year-round roast dinners and has more than 100 sites across the country, reported a 2.4 per cent drop in food [...]
Tax bill and Middle East weigh on Heathrow despite record numbers July 23, 2026 Heathrow’s tax bill has more than doubled in the first half of this year, weighing on profit at the airport despite it bucking the Middle East conflict to enjoy record passenger numbers. The west London hub faced a £129m bill to HMRC in the six months to July, according to its latest update, up from [...]
Burnham to cut pub business rates by 20 per cent July 23, 2026 Andy Burnham has unveiled a 20 per cent cut to business rates for pubs, clubs and music venues. The £100m commitment will be funded by cracking down on businesses, like vape shops and tax-avoidant online sellers, which “do not make a positive contribution to local communities,” the government said. The measure comes as part of [...]
As it happened: Stocks slip as oil hits $100 following Houthi attacks on tankers July 23, 2026 Welcome back to the City AM FTSE 100 liveblog. Stocks slipped on Thursday morning as oil surged back to $100 per barrel for the first time since May. Brent crude barrelled up after the Iran-backed Houthis claimed to have attacked two Saudi Arabian oil tankers in the Red Sea. The US last night launched its [...]
Mark Kleinman: Well runs dry for Thames Water creditors July 23, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his City AM column Well runs dry for Thames Water creditors Are Thames Water’s taps about to run dry? Not literally, of course – but Andy Burnham’s arrival in Downing Street has fired the starting gun on a creditor sprint to [...]
KBRA Assigns Preliminary Ratings to Lugo Funding 2026-1 DAC July 22, 2026 KBRA Europe (KBRA) assigns preliminary ratings to seven classes of notes to be issued by Lugo Funding 2026-1 DAC, a static RMBS securitisation backed by a portfolio of mortgage participations and mortgage transfer certificates (together, Mortgage Certificates) issued by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). The Mortgage Certificates represent the economic rights to receive payments [...]