Supermarket Inflation: Falling Oil Prices Help Keep Costs Down at the Till
City AM’s informal price check across Tesco, Sainsbury’s and Waitrose shows supermarket inflation hovering near zero in May. A 500 ml bottle of rapeseed cooking oil dropped 14 % on average, offsetting price hikes in items like chopped tomatoes (+12.6 %) and tenderstem broccoli (+15.3 %). Overall basket prices changed minimally – Tesco up 0.1 %, Sainsbury’s down 0.2 %, Waitrose down 0.4 % – suggesting the feared cost surge for shoppers has not yet materialised.
The Strait of Hormuz Proves Fossil Fuels Are Essential for Food Security
The ongoing conflict in the Middle East has disrupted traffic through the Strait of Hormuz, a key conduit for roughly a quarter of the world’s fertilizer shipments. The blockage is expected to lift fertilizer prices by 15‑20%, potentially driving an...
KPMG Faces Staff Uproar as Job Cuts Expose Communication Breakdown
KPMG UK announced a redundancy round affecting more than 500 employees, roughly 6% of its 7,100‑person audit and advisory divisions. The cuts target 440 assistant‑manager auditors and 120 advisory staff, sparking frustration over a perceived lack of firm‑wide communication. While...
Mercedes Bid for Alpine Could Be Blocked by FIA Multi-Team Rule Change
Mercedes is among four bidders for a 24% stake in Alpine, a deal valued at roughly $450 million. FIA president Mohammed Ben Sulayem signaled that the governing body is reviewing a rule to prohibit multi‑team ownership, which could block Mercedes’ minority purchase....
Blackstone, Saudi Wealth Fund Collect £4m Dividends From Four Morrisons Stores
Private equity giant Blackstone and the Saudi sovereign wealth fund collected about $5.1 million in dividends from four Morrisons supermarket properties. The assets, bought for roughly $140 million in a 2023 sale‑and‑leaseback deal, were financed with an $84 million loan from Israel’s Leumi...
ECB Inflation Survey Points to Sharp Surge in Prices
The European Central Bank’s Survey of Professional Forecasters shows inflation expectations jumping to 2.7% in 2024, up from 1.8% previously, driven by higher energy prices. Growth forecasts were trimmed to 1% for 2026. Forecasters anticipate inflation easing to 2.1% in...
Dragon Soop Owners Hand Themselves £4.3m Dividend After Profit Rise
Corinthian Brands, the owner of the Dragon Soop ready‑to‑drink beverage, paid itself a $5.5 million dividend after reporting just‑under $6.35 million profit for 2025, a 2.3 % increase year‑on‑year. Turnover slipped 1.5 % to $29.5 million as the company discontinued under‑performing SKUs, which lifted gross‑margin despite...
European Carmakers Slam on the Brakes After Trump Tariff Shock
U.S. President Donald Trump announced a 25% tariff on European‑made cars, sending shares of major automakers sharply lower on Monday. Volkswagen disclosed a €4 billion (≈$4.3 billion) annual hit already materialising, while its Q1 revenue fell 2% and earnings missed forecasts. Porsche,...
Gilt Traders Fear Labour Electoral Losses
Bond traders warn that a sweeping Labour defeat in the 7 May regional elections could shift the UK political landscape leftward, intensifying pressure on government borrowing costs. Polls suggest Labour may lose over 1,000 seats to parties such as the Greens...
Greene King Selling 150 Pubs over ‘Unprecedented Costs’, Boss Says
Greene King, one of the UK’s largest pub operators, announced it will put up to 150 pubs on the market as part of a broader plan to offload 300 locations, half of which will be converted to leased or tenanted...
‘Politically Toxic’ Holiday Tax Could Turn Voters Against Labour, Hospitality Leaders Warn
The UK government is preparing to introduce a holiday visitor levy, to be debated in the King’s Speech, allowing regional mayors to set either a £2 per person per night charge or a 5 % rate. A poll by trade body...
Roland Garros Targeted by WTA and ATP Tennis Players as Pay Row Reignited
Top WTA and ATP players have reignited a dispute with the four Grand Slam organizers, targeting Roland Garros after the French Open raised prize money by nearly 10% but lowered the players' share of tournament revenue to an estimated 14.9%. The...
UK to Join EU Ukraine Loan Talks in Defence Push
The United Kingdom will open negotiations to join the European Union’s €90 billion (approximately $98 billion) loan programme for Ukraine, a move announced by Prime Minister Keir Starmer ahead of the European Political Community summit in Yerevan. By seeking a seat at...
Wizz Air Urges Brits to ‘Book with Confidence’ Despite Rising Fuel Fears
Wizz Air told UK travelers that its full summer schedule will proceed unchanged despite growing concerns over jet‑fuel shortages linked to the Middle East conflict. The airline said operations are “fully stable and unaffected” and urged passengers to “book with...
Airport Jobs at Risk as Iran Conflict Hits Flights
Airlines are trimming schedules due to the Iran‑related conflict, putting up to 30,000 UK airport jobs at risk. Ground handling firms, which rely on flight‑based revenue, warn that reduced flight volumes could trigger layoffs comparable to the pandemic. Unions and...
Donald Tusk Says Nato Is Falling Apart
Poland’s prime minister Donald Tusk warned that NATO is undergoing an “ongoing disintegration” as member states grapple with defence‑spending pressures. He linked the alliance’s strain to recent US‑German tensions, noting President Trump’s order to pull 5,000 troops from Germany—a nation...
UK at ‘Greatest Risk’ of Jet Fuel Shortage as Flights to Be Cancelled
The UK faces the highest risk in Europe of a jet‑fuel shortage, according to Allianz Trade research, due to its heavy reliance on imported kerosene from outside the Middle East. Transport Secretary Heidi Alexander warned that supply disruptions along the...
Why Sunderland’s Away Kit Legal Row Is a Warning to All Sports
Sunderland AFC faces a legal challenge from artist Andrew Small, who alleges the club’s new away kit reproduces his public sculpture without permission. The dispute centers on whether the kit’s design infringes copyright, exposing the club to potential secondary infringement liability....
KBRA Releases Research – The Forward Look—European and UK Credit Views: Q2 2026
KBRA’s Q2 2026 European and UK Credit Views report, authored by macro strategist Gordon Kerr, examines how the Iran‑Hormuz conflict and rising commodity prices are reshaping Europe’s credit outlook. The analysis highlights heightened stagflation risks, delayed growth recovery, and tighter...
Labour Will Regret the Renters’ Rights Act
The UK Renters’ Rights Act came into force, eliminating Section 21 “no‑fault” evictions and making all tenancies effectively indefinite. It also bars landlords from accepting rent above the asking price, prohibits advance‑payment rent, and gives tenants the right to challenge any...
NBA-EuroLeague Talks at an Impasse, Adding Uncertainty to Bidding Process
The NBA is pushing ahead with plans to launch a 12‑team European league in October 2027, partnering with FIBA and courting institutional investors. EuroLeague, led by former NBA executive Chus Bueno, insists any cooperation must guarantee spots for all 20...
MJ Gleeson Warns Building Cost Inflation Prompting ‘High Caution’
MJ Gleeson warned that building‑cost inflation, driven by the Iran‑war‑induced supply‑chain squeeze, is forcing the housebuilder into "higher than usual caution" on land and financing decisions. Despite a modest uptick in net reservation rates to 0.88 from 0.86, the firm’s...
South East Water Chair Quits After Damning Report by MPs
South East Water’s non‑executive chair Chris Train resigned immediately after a parliamentary report condemned the utility’s handling of water supply failures in Kent. Tens of thousands of residents endured cuts in November‑December 2025, prompting an inquiry that highlighted maintenance lapses...
House Prices Rise in April as Market Proves ‘Remarkable Resilience’
UK house prices surprised analysts by jumping 0.4% month‑on‑month in April, lifting the annual growth rate to 3% from 2.2% in March. Nationwide’s index placed the average home at £278,880 (about $354,000). The rise comes despite consumer confidence slipping to...
Delay Fuel Duty Hike or Risk Stalling Major Transport Projects, Labour Warned
The Construction Plant‑hire Association (CPA) warns that the scheduled 5‑pence‑per‑litre fuel duty increase in September could cripple major UK transport and infrastructure projects, including HS2, nuclear and renewable sites. The CPA, representing over 2,000 firms with roughly £1.5 billion (≈$1.9 billion) in...
Mandation Was Never the Way to Get Pensions Investing in Venture Capital
The UK Pension Schemes Bill received Royal Assent after the Lords trimmed a controversial mandation clause. The final text caps compulsory pension exposure at 10 % of a default fund, with only 5 % allowed for UK assets, shifting the focus to...
Everest Reports First Quarter 2026 Results
Everest Group posted a strong first‑quarter 2026, delivering $653 million net income, or $16.21 per share, more than triple the prior‑year figure. Gross written premium slipped 18.5% to $3.6 billion, yet the combined ratio improved to 91.2%, reflecting disciplined underwriting. Investment income...
Schroders Backs Wayve and Elevenlabs with UK’s First Venture Capital Fund for Pensions
Schroders Capital has deployed over £100 million (≈$127 million) into UK‑based tech and life‑science scale‑ups, marking the first disbursements from its UK Innovation Long‑term Asset Fund (LTAF). The fund, which closed a £500 million (≈$635 million) round backed by Standard Life and the British...
The Devil Wears Prada 2 Review: Meryl Streep Is Funnier than Ever
The Devil Wears Prada 2 returns with Meryl Streep reprising the iconic Miranda Priestly, delivering sharper, more biting humor than the original. The sequel follows Andy Sachs, now a senior editor, and Emily Charlton, who has shifted to retail, as they navigate the collapse...
Grant Thornton Snaps up Australian Sister Firm as Part of Global Push
Grant Thornton US announced plans to acquire its Australian counterpart, an entity valued at roughly USD 520 billion. The transaction, pending partner approval and regulatory clearance, will integrate the Australian firm into Grant Thornton’s global advisory platform and expand AI capabilities. The move...
Labour Hands Police ‘Long-Overdue’ Violent Shoplifting Powers
The UK government has granted police new powers to tackle violent shoplifting after the Crime and Policing Bill received royal assent. Assault on retail workers is now a specific offence and the previous immunity for thefts under £200 (≈ $255) has...
General Counsel ‘Evolving From Traditional Legal Gatekeepers’, Says KPMG’s Legal Arm
General counsel are moving beyond traditional legal oversight, with 75% of surveyed GCs regularly advising on non‑legal matters, according to KPMG Law’s new outlook. The report, based on nearly 500 senior legal leaders in 28 countries, identifies regulatory complexity as...
Private Equity Investment Fuels Major Overhaul of Grant Thornton’s Associate Scheme
Grant Thornton has unveiled a brand‑new associate programme for its 2027 graduate cohort, funded by a private‑equity investment from Cinven. The overhaul introduces six pillars—reward, experience, exposure, quality, diversity and accelerated partnership—to attract and develop talent. Simultaneously, the firm aims...
Everton Line up CMC Markets as Shirt Sponsor in £30m Deal
Everton has secured a new front‑of‑shirt partnership with London‑listed CMC Markets, a financial‑services firm, in a deal reported to be worth about £30 million (roughly $38 million). The agreement replaces crypto casino Stake.com ahead of the Premier League’s upcoming ban on gambling...
Lloyds Hit with Highest FCA Complaints as Finance Firms Fork Out £240m
Lloyds Banking Group topped FCA complaint figures in the second half of 2025, logging 187,516 grievances across its brands, with Lloyds Bank alone accounting for 90,837. Santander followed with 124,919 complaints, while the sector’s total payouts fell to £236.2 million (about...
Global Equity Markets Are Dangerously Overconfident
Global equity markets are rallying despite a severe supply‑side shock from the Strait of Hormuz closure, which has removed roughly $50 bn of crude oil – comparable to 11 days of worldwide road travel. The S&P 500 erased a 9% drawdown...
Government Borrowing Costs Soar as Iran War Drags On
UK government borrowing costs have surged to their highest level since the 2008 financial crisis as oil prices spiked following the Iran‑Israel conflict. The 10‑year gilt yield breached the 5% mark for only the third time since the war began,...
Allegion (NYSE: ALLE) Reports Q1-2026 Financial Results
Allegion reported Q1 2026 net revenue of $1.033 billion, a 9.7% year‑over‑year increase, while adjusted earnings fell 3.2% to $155.9 million ($1.80 per share). Organic revenue grew 2.6% driven by price realization in the Americas, offset by volume declines. Adjusted operating margin slipped...
Guaranteed Hours Rules ‘Would Threaten Jobs’, Government Warned
Four major UK trade bodies – the British Retail Consortium, Food and Drink Federation, Recruitment and Employment Confederation and UK Hospitality – have warned that the government’s new guaranteed‑hours rule, part of the Employment Rights Act, could boost unemployment and...
King’s Speech to Unleash Wave of City Reforms
The UK government will embed a suite of City of London reforms in the King’s Speech on 13 May, including the abolition of the Payments Systems Regulator, a overhaul of the Financial Ombudsman Service, and the removal of the annual “fit‑and‑proper”...
Economy Could Suffer for Eight Months After Iran War Ends, Minister Says
Chief Secretary Darren Jones warned that the fallout from the Iran‑Israel‑US conflict will keep UK energy, food and airline prices elevated for at least eight months after the Strait of Hormuz reopens. The blockage of this key shipping lane has...
WH Smith Successor Delays ‘Aggressive’ Restructuring Which Will Shut Stores
Modella Capital, the private‑equity firm that bought 480 former WH Smith high‑street stores for £40 million (about $51 million), has postponed its aggressive restructuring plan for the rebranded TG Jones chain. The delayed proposal could involve a “cram‑down” court‑approved process that would shutter up...
‘Waste of Time’: Trump Cancels Envoys’ Trips to Pakistan for Iran Talks
President Donald Trump abruptly cancelled a planned trip by special envoy Steve Witkoff and son‑in‑law Jared Kushner to Pakistan, where Iranian delegates were set to meet for peace talks. Trump argued the mission would waste time amid what he described...
Italy and UK Risk Driving Formula 1 Away with Misguided Tax Raids
Italy and the United Kingdom are intensifying tax scrutiny of Formula 1 drivers and teams, targeting income from races held on their soil between 2020 and 2024. The audits rely on legacy OECD rules that were crafted for simpler, less globalised...
Government to Step up Support for Businesses Affected by Iran War
The UK government is intensifying its response to the Iran‑related war, with Prime Minister Rishi Sunak set to chair a new Middle East Response Committee. A Contingency Planning group led by Chief Secretary Darren Jones will scrutinise the committee’s actions....
Banks Brace for Potential Tax Raid if Starmer Is Ousted
UK banks are bracing for a possible tax hike if Keir Starmer is replaced by a more left‑leaning Labour leader. The Treasury may revive a bank surcharge, targeting a 5% rate that could raise about $1.9 billion annually. Last year the...
Brands, Think You’ve Missed Out on the London Marathon? Think Again
Brands often assume that missing official London Marathon sponsorship means losing the marketing hook, but the event offers a broader ecosystem for engagement. Ambush tactics—such as supporting run clubs, pre‑race shake‑out runs, and community chats—allow non‑sponsors to embed themselves in...
Motor Finance Trade Body Gears up for Legal Challenge to £9bn Redress
The UK Financial Conduct Authority (FCA) has finalized a motor‑finance redress scheme costing roughly £9bn ($11.5bn), down from an earlier £11bn estimate. The Finance and Leasing Association (FLA), representing lenders such as Santander and the financing arms of BMW and...
Janus Henderson to Report First Quarter 2026 Results
Janus Henderson Group announced it will publish its first‑quarter 2026 earnings after the market closes on May 8, 2026. The company will not hold an earnings call or webcast, directing investors to the press release on its IR site. The release...
Chiesi Reports Strong FY2025 Financial and Sustainability Results and Announces Leadership Transition Highlights
Chiesi Group posted €3.625 bn ($3.9 bn) in revenue for FY2025, an 8.2% increase at constant exchange rates, with EBITDA of €931 m ($1.0 bn). All three franchises—Air, Rare and Care—contributed to growth, led by a 22.3% surge in rare‑disease sales that accounted for...