Tories pledge to slash tax and red tape in ‘alternative King’s Speech’ May 10, 2026 The Tories have set out their vision for the UK economy, pledging to slash taxes and red tape to “back innovation, entrepreneurship and growth”. Kemi Badenoch’s party has said it would slash welfare spending, scrap business rates for high street business and repeal Labour’s workers’ rights reforms. The Conservatives have published their “alternative King’s Speech,” [...]
Rayner tells Starmer: Let Burnham back and end ‘toxic culture’ May 10, 2026 Angela Rayner has accused Sir Keir Starmer of a “toxic culture” in in the wake of Labour’s devastating local election defeat, criticising the Prime Minister for blocking Andy Burnham’s return to Westminster. The intervention ramps up the heat on Starmer, whose position was left looking increasingly perilous on Sunday after around 40 Labour MPs called [...]
Investors urge FTSE-100 Intertek to resist takeover pressure May 10, 2026 Major shareholders in FTSE 100 giant Intertek are urging the firm to hold its nerve as a Swedish private equity firm circles. Investors in the quality assurance and product testing business who account for close to £300m of the firm’s value told CityAM it is undervalued by the latest offer, which stands at £8.9bn [...]
WH Smith made only £10m from sale of 500 stores May 10, 2026 Retail giant WH Smith made just £10m from the sale of its 480 high street stores to a private equity firm after already slashing its asking price. Private equity firm Modella Capital bought WH Smith’s high street locations in a £42m deal last year but is poised to launch an emergency restructuring as the stores [...]
P&O Ferries hikes prices as Iran war puts holidays on brink May 10, 2026 Leading ferry operator P&O Ferries is saddling holidaymakers with up to £50 surcharges as the Iran war threatens to derail Brits’ summer holidays. P&O, which is owned by Dubai-based DP World, has said it will impose one-way surcharges of £27 per vehicle for its route between Hull and Rotterdam, meaning passengers will pay £54 more [...]
Mike Ashley: I was behind Peter Cowgill’s JD Sports downfall May 10, 2026 Billionaire businessman Mike Ashley has admitted he masterminded the infamous car park footage leak that brought down his arch rival, JD Sports’ boss Peter Cowgill. Cowgill, who was executive chairman of JD Sports, quit the sportswear retailer in 2022 after being fined by the competition watchdog over a car park rendezvous with the boss of [...]
Backbencher threatens rebellion as Starmer vows to stay put May 10, 2026 A Labour backbencher has issued the Prime Minister with an ultimatum as Sir Keir Starmer battles to stay in Number 10 after taking a battering at the local elections. Catherine West, a former junior minister and MP for Hornsey and Friern Barnet, said she will trigger a leadership bid on Monday if cabinet ministers fail [...]
London local election results LIVE: Brown returns as Labour bruised in five-party split May 9, 2026 Good morning and welcome back to the CityAM liveblog. Former Prime Minister Gordon Brown has returned to support Sir Keir Starmer’s premiership as a special envoy for global finance. The appointment was made after bruising election results across the country, particularly in Wales and Scotland where Labour lost control. Starmer resisted calls for his [...]
Grosvenor estate: Ministers don’t get ‘basic economics’ May 7, 2026 The Duke of Westminster’s multi-billion pound estate has chided ministers for failing to grasp “basic economics” in their bid to tackle the housing crisis. Mark Preston, who represents the business interests of Hugh Grosvenor, the seventh Duke of Westminster and owner of a Mayfair property empire, said the government risks choking housing supply if it [...]
Wetherspoon boss Tim Martin clashes with Ryanair over airport breakfast booze May 7, 2026 The boss of JD Wetherspoon has clashed with the chief of budget airline Rynair over calls for airports to crack down on early morning drinking. Tim Martin, chair of the UK’s best-known pub chain, has said regulating alcohol consumption at airports is a “Big Brother” approach which could lead to passengers being breathalysed. Ryanair boss [...]
