Whitbread to cut nearly 4,000 jobs in £2bn cost saving plan April 30, 2026 Whitbread is to slash nearly 4,000 jobs as part of plans to offload restaurants and sell off the freehold rights to its hotels, in a bid to raise £2bn. Shares in the company slipped on Thursday after it announced the plans to raise £1.5bn by selling off the freehold rights to a raft of its [...]
Bank of England Live: Interest rates held as hawks warn of ‘highly uncertain’ energy prices April 30, 2026 Welcome back to the City AM liveblog. The Bank of England’s Monetary Policy Committee has today decided to hold interest rates at 3.75 per cent in a hawkish display. In last month’s decision, the Bank held rates in a unanimous decision. Afterwards, short-term gilt yields, which reflect government borrowing costs, sharply rose as traders priced [...]
Twilight zone: Markets await ‘highly uncertain’ interest rates decision April 30, 2026 City analysts are eagerly anticipating a “highly uncertain” Bank of England decision on interest rates that could swing prices in either direction. The Bank’s Monetary Policy Committee is widely expected to hold interest rates at its upcoming decision at 12pm on Thursday, though analysts have warned that a vote split and hawkish messaging around the [...]
The AI bubble has a name – and it’s OpenAI April 29, 2026 For three years, Sam Altman has worn the badge of greatest pitchman in the history of tech. He sold the world a vision of artificial general intelligence – a machine that thinks, reasons and creates – and sold investors the bill to build it. The man raised more capital in a single funding round than [...]
Badenoch claims Reeves will be ousted as traders warn on Labour’s turn to left April 29, 2026 Tory leader Kemi Badenoch has predicted that Rachel Reeves will be sacked as Chancellor after the local elections in May, as top bankers warn of the impact of any left-turn by the government. Badenoch asked Sir Keir Starmer whether he would “reshuffle the Chancellor” after the May elections, with the Prime Minister not directly commenting [...]
Number of top rate taxpayers surges as frozen thresholds squeeze Brits April 29, 2026 The number of higher and additional rate taxpayers in the UK has soared since the start of the decade as frozen thresholds have dragged nearly two million into paying higher rates of tax despite not being classified as traditional high-paid professionals. According to the latest personal income statistics from HMRC covering the 2023/24 tax year, [...]
Lloyds fires bank tax warning shot as industry ‘ripe for cash grab’ April 29, 2026 Lloyds Banking Group has warned the Treasury not to look at the banks for a tax raid as the industry sets its sights on booming profits in 2026. The FTSE 100 giant beat profit expectations by a cool £200m in the first-quarter after booking £2bn. This was also followed up by an upgrade to its [...]
Lloyds shares drop after income upgrade on higher interest rates April 29, 2026 Lloyds Banking Group has upgraded its income targets for the year as the bank expects to bring in more cash as interest rates remain elevated from the Iran war. The FTSE 100 financial giant – which counts Lloyds Bank, Halifax and Bank of Scotland among its subsidiaries – said it expects net interest income to [...]
FTSE 100 Live: Stocks drop as oil holds firm over $110; UK growth slashed April 29, 2026 Good morning and welcome back to the City AM liveblog. Oil prices are holding firm tipping over the $110 mark, bringing the cost of a barrel closer to the highs of $118 it peaked at earlier in the Iran war. Brent crude – the international benchmark for oil – advanced another one per cent on [...]
Quinbrook Advances UK’s Largest Synchronous Condenser Portfolio with £156M Financing and Final Scottish Project Launch April 29, 2026 Closes landmark £156 million debt financing for its Severn portfolio Achieves commercial operations for fourth and final synchronous condenser in its Scottish portfolio