Risk of gas crisis as Iran launches missiles at US military bases June 23, 2025 Iran has launched a barrage of missiles at US military bases in Qatar, in response to America’s bombing raids over the weekend. City analysts have been on high alert over the potential economic fallout, with a warning that gas prices could more than double if shipping through the Strait of Hormuz is blocked. Analysts fear [...]
Qatar closes airspace as region braces for Iran response June 23, 2025 Qatar shut down its airspace minutes after markets in London closed, with City analysts fearing the conflict involving Iran, Israel and the US could yet escalate further. The UK government followed the US in telling its British nationals in the country to take shelter until further notice. The US said the warning was made out [...]
Don’t panic: What’s behind markets’ Iran-Israel indifference? June 23, 2025 Commentators have warned that an escalation in the Iran-Israel conflict could set off a chain of events that leads to the outbreak of World War 3. But markets have reacted as if the exchange of air attacks have barely happened at all. Ali Lyon digs into a puzzling few days of equities and oil trading. [...]
US giant Apollo to back Hinkley Point C with £4.5bn loan June 20, 2025 US private capital group Apollo Global will back the Hinkley Point C nuclear power station with a £4.5bn loan, according to reports. The loan will be provided as unsecured debt to EDF, the French state-owned energy firm delivering the project, at an interest rate of just under seven per cent, sources told the FT. While [...]
Louis Vuitton: Sales and profit slashed amid luxury spending slowdown June 20, 2025 A continued slowdown in luxury retail spending saw sales at the UK arm of Louis Vuitton slashed by almost £90m and profit tumble during 2024, it has been revealed. The fashion powerhouse has reported sales of £488.2m for its latest financial year, down from the £575.2m it achieved in 2023. New accounts filed with Companies [...]
Government borrowing surges in May to fund Labour’s spending June 20, 2025 Government borrowing in May surged to £17.7bn, official data has shown, reflecting the government’s need for cash to fund Labour’s spending splurge. This represented the second-highest May borrowing figure since records began more than 30 years ago and higher than the Office for Budget Responsibility (OBR) forecast. Fresh data published by the Office for National [...]
UK growth to suffer from interest rates hold, industry warns June 19, 2025 The UK economy stands to suffer from high borrowing costs, leading industry figures have warned, after the Bank of England held interest rates at 4.25 per cent on Thursday. The Bank’s Monetary Policy Committee (MPC) indicated that interest rate cuts could come in the coming months after a recent 25 basis point cut in May. [...]
Bank of England holds interest rates at 4.25 per cent June 19, 2025 The Bank of England has held interest rates to “squeeze out persistent inflationary pressures” amid tensions between Israel and Iran risking an alarming uptick in energy prices later this year. Officials said high inflation predictions and sticky wage growth figures had led them to opt for interest rates to be kept at 4.25 per cent [...]
Morrisons boosts sales amid looming ‘trolley wars’ June 19, 2025 Supermarket giant Morrisons has posted an increase in sales as it works to offload debt and compete in an ever-tougher sector. Like-for-like sales rose 3.9 per cent in the second quarter of the year, while total sales grew 4.2 per cent to £3.9bn. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 7.2 per [...]
B&M swaps one tax haven for another June 19, 2025 B&M has revealed plans to swap Luxembourg, the European tax haven the discount retailer has been domiciled in for over a decade, with Jersey. The London-listed company, which has its operational headquarters in Liverpool, said the move would simplify its corporate and administrative structure and provide “greater flexibility for returning capital to shareholders going forward”. [...]