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Business confidence plunges to lowest level since Liz Truss’s mini-budget

January 14, 2025

Rachel Reeves’s tax hikes have pushed business confidence to its lowest level since the wake of Liz Truss’s calamitous mini-Budget, as firms fret over a surge in costs and slowdown in the domestic economy, a closely watched survey has suggested. Concerns over a looming tax bill and a slump in sales caused business confidence to [...]

Tulip mania was only ever going to end one way

January 14, 2025

Yesterday, I asked whether Tulip Siddiq would still be the City minister by the end of the day, and just as the sun went down we got an answer: nope. Here in the City AM newsroom we shall miss the standing agenda item in our editorial meetings, checking the latest twist of an international corruption [...]

Most retailers will hike prices in response to Reeves’ National Insurance Budget raid

January 14, 2025

Two thirds of CFOs have said their business will be forced to raise prices as a result of higher wage bills, according to a new survey. Around 70 per cent of respondents to the survey, which looked at the attitudes of CFOs at 52 retailers, were “pessimistic” or “very pessimistic” about trading conditions over the [...]

Wednesday's Biggest Analyst Calls: Apple, Nvidia, Tesla, Meta, Sofi, Planet Fitness, Microsoft, Oracle & More

January 14, 2025

The Bond ETF Market is Down in 2025 Ahead of Highly Anticipated U.S. Inflation Data

January 14, 2025

Russia sanctions under spotlight in landmark case with Abramovich ally

January 14, 2025

UK Russian sanctions will be under the scope at the Supreme Court today as Eugene Shvidler seeks to remove the sanctions against him

Shares of Wells Fargo Rise After Earnings Beat Strong Guidance for 2025

January 14, 2025

Kurt Geiger: Record holiday trading as US expansion pays off

January 14, 2025

Growth at Kurt Geiger outpaced expectations last year driven by American demand for the luxury footwear and accessories brand. Despite general gloom in the retail sector, December 2024 was the most profitable month in the brand’s history, with its 17 per cent growth credited to a 54 per cent rise in handbag sales and its [...]

Goldman Sachs and JPMorgan Chase Post Soaring Profits

January 14, 2025

Lloyds Banking Group to shut major office impacting 500 staff

January 14, 2025

Lloyds Banking Group will shut its office in Liverpool later this year, in a move set to impact the site’s 500 staff. The group said its decision to close its Speke location is part of broader plans to run “fewer, better-equipped” offices amid efforts to cut costs. In a statement, Lloyds said it has not [...]

Ashmore: Asset manager’s stock surges as investor withdrawals subside

January 14, 2025

Ashmore stock surged five per cent in early trading this morning after the asset manager reported a sharp reduction in outflows. Investors pulled $400m (£327m) from the emerging markets specialist over the last quarter, down from $700m (£572m) in the three months before and below the $1.1bn (£900m) expected by analysts. When excluding a liquidity [...]

Royal Mail IDS owner to return to profit as Kretinsky takes reins

January 14, 2025

The owner of Royal Mail is set to return to profit just as its long drawn out sale to Daniel Kretinsky nears completion thanks to a welcome uplift in the number of parcels it delivered over Christmas. International Distribution Services (IDS) said Royal Mail’s “successful Christmas period” saw it process 188m tracked parcels, a 19 [...]

Serco: FTSE giant bags £200m US army deal

January 14, 2025

British outsourcing giant Serco has secured a $247m (£203m) contract to enhance the health and fitness of US army soldiers. The government services provider will support 45 US army brigades across 15 locations, including bases in Alaska and Texas. Under the deal, the firm is set to drive soldier fitness, reducing injury rates and supporting [...]

Law firm RPC elects new managing partner

January 14, 2025

City-based law firm RPC has selected Antony Sassi to step up to the leadership role of managing partner of the firm, succeeding James Miller

UK gilt auction fails to roll back yield spike

January 14, 2025

A closely watched sale of UK government debt failed to roll back the alarming rise in yields after the £4bn auction did not drum up significant interest for gilts. The Debt Management Office (DMO) reported that the 2034 gilts were sold at a yield of 4.808 per cent, compared with 4.332 per cent in the last [...]