By Emily Hawkins Spirits giant Pernod Ricard posted fizzing sales for the first quarter after the return of international holidays has spurred spending in pubs and bars. Sales grew 22 per cent, as the Absolut vodka maker raked in €3.3bn in revenue, sur…
Doubts cast over 31 October fiscal statement after Truss resignation
By Jack Barnett There are growing doubts over whether the fiscal statement will be delivered on 31 October following Liz Truss’s resignation as prime minister today after just 44 days in office, City A.M. understands. Truss’s exit has triggered a secon…
IT industry is ‘recession-proof’ as businesses look to cut costs
By Millie Turner The IT industry is “recession-proof”, according to a top analyst at market research giant Gartner, despite economic downturns pushing businesses to trim costs. Global spending on IT, which includes software, devices, communications ser…
Ed Warner: Don’t criticise British Cycling for accepting sponsorship from Shell
By Frank Dalleres Disclaimer No1: I don’t think I’ve written anything in support of British Cycling down the years. Quite the opposite in fact. But I can’t bring myself to add my name to the lengthening petition that splutters in indignation about the …
Amazon could fork out £900m in compensation over favouring own products
By Leah Montebello Amazon could be forced to fork out £900m in compensation after the tech giant was accused of unlawfully favouring its own offers. The collective action lawsuit alleges that Amazon breached competition law and caused tens of millions …
Is Truss helping or hindering her own pro-growth policies?
By Andy Silvester One of the greater mysteries of the universe is why David Cameron is yet to delete a tweet from the run-up to the 2015 election: “Britain faces a simple and inescapable choice – stability and strong Government with me, or chaos with E…
Truss’ chief whip and deputy chief whip resign in day of complete chaos
By Stefan Boscia After vowing she was a “fighter” today, Liz Truss’ premiership looked more unstable than ever following the resignation of key figures and a shambolic vote in parliament late tonight. Chief whip Wendy Morton and deputy chief whip Craig…
Crypto has ‘serious deficiencies in governance’, warns Bank of England official
By Charlie Conchie A Bank of England official warned there are “serious deficiencies in governance” in the crypto ecosystem today as she laid out a vision for the industry to win back trust from investors. Carolyn Wilkins, a member of the Bank’s financ…
Government puts bank windfall tax on table to help plug fiscal hole
By Jack Barnett The government has put a windfall tax on the UK’s largest banks on the table, sending their shares plummeting today. London-listed Lloyds Bank, which is Britain’s biggest mortgage lender, plunged to the bottom of the FTSE 100 index toda…
London’s FTSE 100 dragged down by windfall tax rumours hitting UK banks
By Jack Barnett London’s FTSE 100 was dragged lower today by investors ditching UK banks on fears they will be hit by a windfall tax by new chancellor Jeremy Hunt. The capital’s premier index fell 0.17 per cent to 6,924.99 points, while the domesticall…