City AM

Thousands of jobs have been put at risk after Ineos suspended operations at three of the UK’s biggest chemicals plants, as owner Jim Ratcliffe took aim at “ridiculously high” energy prices in the UK.

The administrators of collapsed jewellery retailer Claire’s Accessories have billed nearly £10m for their work, with bosses charging more than £1,500 per hour.

Britain will link its military AI taskforce with its US counterpart under a new defence pact, deepening transatlantic tech ties as AI plays a growing role on the battlefield.

Prem Rugby this morning announced a record deal with ball provider Gilbert that took their partnership beyond 30 years.

More than £200bn has now been spent on covering government debt since Labour came into power, official figures show, reflecting the pressure bond traders have put on public finances in the last two years.

Home improvement group Kingfisher has lifted its profit target despite seeing summer heatwaves push down sales at B&Q.

Chancellor John Healey has missed key targets on government borrowing ahead of his inaugural Budget after the UK borrowed more than economists forecast in August.

Apple is launching a new music venue in London with space for 600.

Good morning from the City desk at City AM.

Being captain of the team that has won the Women’s Super League eight times in the last decade might be enough to keep most people busy, but not Chelsea’s Erin Cuthbert.

Communication is the bedrock of effective crisis management.

Nscale has vowed to keep Britain at the heart of its global expansion despite choosing New York over London for its blockbuster float, as the AI infrastructure firm looks to turn its UK base into an export hub for computing power.

German Chancellor Merz and the CDU face a severe political crisis following disastrous state election results and plunging approval ratings, says Helen Thomas “It was a disaster” said German Chancellor Merz after the results of two key German elections.

The fact that a company as established as Revolut fell victim to such an attack underlines the threats facing financial services firms, says Graeme Stewart Who am I really talking too?

I’m sure it wasn’t always like this.

An “Investable Britain” requires a stable and competitive tax environment, regulatory clarity, dynamic capital markets, and a long-term growth strategy capable of supporting companies from early-stage innovation through to global scale, says Sarah Olney F…

City chiefs have warned against a tax grab on financial services and called on ministers to simplify Britain’s “byzantine” tax system, as fears mount that the Chancellor will use his maiden budget next month to launch another raid on the private sector.

John Healey’s plans to deliver an emergency tax cut for high street businesses would fail to boost most firms in London’s busiest areas like Soho and the West End, analysis suggests.

Now the Greenland deal has landed, it is worth taking stock of how we got here and what Burnham should aim for next, writes Michael Martins in today’s Notebook How should Burnham approach Trump this week?

When she introduced the measure in her October Budget, then-Chancellor Rachel Reeves told MPs her new mansion tax would “deal with a longstanding source of wealth inequality in our country.”

The London Stock Exchange’s fledgling private Pisces market is set to receive another boost after a third tech company unveiled plans for an employee share sale on the platform.

Rising hiring costs and difficulties recruiting talent are making it harder for Britain’s most promising companies to grow, with three quarters saying they could create at least 10 per cent more jobs if barriers to expansion were removed.

Liberal Democrats leader Sir Ed Davey has called for the government to spearhead a treaty that would “press pause on super-intelligent AI” just as Andy Burnham unveiled a deal with President Trump to advance engagement on the technology.

Fast fashion retailer Shein has been granted permission to appeal against rival Temu in a first-of-its-kind copyright battle in the UK.

Brewdog’s new owners have sought to distance the company from its founders James Watt and Martin Dickie with a new campaign that pledges the controversial brewer will be “run properly” and attract a “little less allegation”.

Job security for British workers has fallen to a three-and-a-half year low across all sectors other than IT and telecoms, according to new data from S&P Global’s UK consumer index.

Brentford’s Gtech Community Stadium will be centred around a different kind of ball on Thursday when the Ultimate Sevens rolls into town for its inaugural finals day.

Andy Burnham is set to meet President Donald Trump face-to-face for the first time against the backdrop of the Iran war pushing inflation up to above four per cent within months.

The rogue AI agents behind OpenAI’s unprecedented Hugging Face cyber attack behaved like “university students who’ve had too many beers”, a cyber expert told City AM, saying the breach was more a triumph of persistence than intelligence.

Premier League clubs’ front-of-shirt sponsorship revenue has risen eight per cent to £444m despite implementing a voluntary ban on gambling firms.

The City watchdog has begun High Court proceedings against a loan notes firm and its chief executive, according to court filings, amid growing scrutiny of the high-risk instruments and their availability to retail investors.

Tony Blair has warned governments against bowing to a growing “techlash” over AI, arguing that slowing adoption could leave countries poorer and less secure as concerns over the technology mount.

Increasing the cost of hotel rooms and Airbnbs is not just a blow to the hospitality sector, it will hammer all businesses, argues James Ford The incoming tourism tax is very bad news.

London’s dominance in the UK is often presented as something of a whirlpool, greedily sucking in talent from other regions.

Uncertainty over how the government might shake up property taxes at next month’s Budget is contributing to huge increases in the cost of renting a luxury house in London.

Britain risks becoming “dangerously dependent” on a handful of foreign tech companies as AI spreads through businesses and public services, the founder of GOV.UK has warned.

As the last of the summer rays begin to cool, it is an opportune time to head away for a last chance at the summer heat.

Easyjet and British Airways have questioned the resilience of the UK’s air traffic control system as British airports face another day of delays and disruption following a system failure earlier this month which grounded more than 2000 flights across the…

While Sadiq Khan mulls his future James Cleverly and Reform’s Laila Cunningham are vying for votes in a traditionally Labour city, says Eliot Wilson When politicians often congratulate themselves on surviving until the weekend, voters can be forgiven for…

Ryan Reynolds, Rob Mac and Apollo Sports Capital have purchased a pub in a move that expands Wrexham AFC’s footprint.

Sadiq Khan’s draft London plan will not deliver the housing or infrastructure London badly needs, says Thomas Turrell “Reality can be whatever I want it to be”.

The City’s success and status as a global financial hub rests on the foundations of stability, rule of law and security.

British tennis star Arthur Fery has revealed his ambition to join the sport’s burgeoning player power movement after capping a breakthrough season with a Laver Cup call-up.

Apollo Sports Capital is expanding its portfolio by adding a minority stake in the New York Yankees to its investments in Atletico Madrid and Wrexham AFC.

Syndicates in the world’s leading insurance and reinsurance market, Lloyd’s of London, have agreed to provide up to £40m of risk capital per policy to back a new managing general agent in the City focused on the private capital sector.

JD Sports has announced plans to open more than 140 shops in Mexico, as the ‘King of Trainers’ battles to halt falling sales and move on from a recent boardroom bust-up.

Welcome back to City AM’s FTSE 100 liveblog.

Last Saturday’s FT covered the industry’s current woes in depth.

Britain has so much to offer.

The XPeng G6 is taking on the Tesla Model Y with a lower price, rapid charging and plenty of technology.