BAE Systems to spend billions on growth and hire thousands more staff May 7, 2025 BAE Systems has said it plans to hire thousands more staff as the company prepares for an increase in global defence spending. Shares in the London-listed company have rocketed more than 50 per cent since the start of the year. This morning, it said it plans to recruit as many as 2,400 new apprentices, undergraduates, and graduates [...]
Manufacturing edges towards year of decline amid ‘noticeable impact’ of tariffs May 1, 2025 UK manufacturing’s falling production levels show no signs of ending as the spectre of tariffs brings a “noticeable impact” on exporters’ sales, leading analysts have said. Firms have had to navigate through sticky inflation and high energy costs for the best part of three years as the UK’s weakened economy has failed to bounce back [...]
Construction firms lose hope but businesses are ‘showing resilience’ April 30, 2025 Construction firms have grown despondent about their business prospects despite signs of resilience across the UK economy, a new survey has found. The sector is key to the housing secretary Angela Rayner’s plans to build 1.5m homes by 2030 though early signs suggest the ambitious target will not be met. Construction saw a bigger drop [...]
ONS set to weigh up cost to public purse of British Steel rescue April 29, 2025 The UK’s official statistics body has begun an assessment of the cost of running British Steel since the loss-making business was rescued by the government, CityAM can reveal, in what could prove to be another blow to Chancellor Rachel Reeves’ fiscal targets. The UK’s top statistician Professor Sir Ian Diamond said the Office for [...]
Sir Jim Ratcliffe: Businesses can’t afford ‘heavy blow’ of net zero taxes April 29, 2025 INEOS founder Sir Jim Ratcliffe has slammed UK net zero policies as unaffordable and claimed carbon taxes are “killing manufacturing”. The Manchester United co-owner described payments to be made by INEOS’ Grangemouth as part of the UK Emission Trading Scheme (ETS), which puts a financial cost on carbon emissions, as “yet another tax bill” that [...]
Manufacturers accelerate job cuts as firms brace for ‘gloomy’ year April 24, 2025 Manufacturers are shedding staff at the fastest pace in more than four years, according to new data, as they wrestle with soaring energy bills and Chancellor Rachel Reeves’ tax hikes bite. The downturn in manufacturing output slightly eased in the quarter to April, a survey of hundreds of firms by the Confederation of British Industry [...]
Boeing issues weigh on FTSE 250 group Senior’s results March 3, 2025 Aerospace and defence group Senior has reported revenue of £977.1m for the year ended 31 December 2024, a one per cent increase compared to the previous year. Operating profit rose six per cent to £40.3m, while profit before tax increased by 22 per cent to £27.8m. Adjusted profit before tax declined by 14 per cent [...]
London’s secret lost underground temple | History of the City February 28, 2025 Join CityAM in this episode of History of the City, as we descend into the depths of London and uncover the secrets of the Mithraeum, from its Persian origins to its significance in the Roman world.
Serco’s profit jumps as defence arm grows February 27, 2025 Serco has posted revenue of £4.8bn for 2024, in line with prior guidance, thanks to a notable improvement in organic growth, particularly in its North American Defence business. Serco, the global provider of public services, reported underlying operating profit growth of 10 per cent to £274m, with a sharp 30 per cent increase in the [...]
Morgan Sindall hikes dividend as revenue hits record February 26, 2025 Morgan Sindall, the UK-based construction and regeneration group, has reported record results for the year ending 31 December 2024. The group recorded a 10 per cent increase in revenue to £4.55bn, while adjusted operating profit rose 15 per cent to £162.6m. Adjusted profit before tax grew by 19 per cent to £172.5m, with adjusted earnings [...]