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Sweaty Betty cuts jobs in overhaul as it posts 1.5m profit
By City AM
º£½ÇÊÓƵ activewear retailer posts profit for the first time since 2021
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Wise explores º£½ÇÊÓƵ banking licence after abandoning London stock market listing
By City AM
The company has reached out to financial services heavyweights in the last two months regarding roles related to starting a banking business in the º£½ÇÊÓƵ, according to The Times.
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Canary Wharf to open Olympic-sized open-water lido in Eden Dock
Leisure & Touism
The Sea Lanes Canary Wharf will offer a natural water lido, plus saunas, a clubhouse and a restaurant.
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Rachel Reeves urged to 'copy Margaret Thatcher' with bank tax
By City AM
A 2.5 per cent tax on banks with assets of more than £100bn could raise £8bn for the Treasury
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Bolton door firm Booth Industries secures major rail contracts
Deals
The company's parent group has announced work on the HS2 and Elizabeth Line projects
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National Wealth Fund backs £500m energy storage deal
Enterprise
National Wealth Fund has teamed up with two investment firms for a 500m venture to improve the º£½ÇÊÓƵ's battery storage facilities
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London Stock Exchange gets green light to launch new trading platform
Finance
The Financial Conduct Authority has given the London Stock Exchange the green light to operate a new private stock market, clearing the path for the market's launch later this year
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Hospitality sector suffers huge job losses as costs soar
By City AM
Data shows that 89,000 hospitality jobs have been lost since the Budget last October
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Notting Hill Carnival 2025: vibrant costumes and music fill the streets of London
London
About one million people are expected to be on the streets of west London for the event
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TikTok to lay off hundreds of London staff in major AI push
By City AM
TikTok is centralising its 'trust and safety' operations globally and plans to increasingly rely on artificial intelligence to moderate content.
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Standard Chartered shares rally after US government rejects whistleblower claims
By City AM
The US government has rejected whistleblower claims against Standard Chartered that had drawn the attention of president Donald Trump
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Monzo leads with competitive rates for young savers as º£½ÇÊÓƵ banks vie for Gen Alpha market
By City AM
Monzo has made a major play to secure the next generation of savers as banking giants look to secure a grip on the Gen Alpha market.
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Moneybox's 2024 profits soar as billions flood into the fintech firm
By City AM
The investment platform's net inflows more than trebled to £5.8bn, from £1.7bn the year prior – a jump of over 241 per cent.
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Hays to cut dividend by nearly 60% as recruitment firm reports sharp drop in profit
By City AM
The London-listed recruitment firm Hays has reported a sharp drop in profit amid continued weakness in recruitment markets
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Forest e-bike operator raises prices in London, citing increased borough fees
By City AM
Forest, the e-bike operator recently licensed by Hounslow Council, has announced it is raising its "pay as you go" service fee by 50 per cent to £1.50
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Costain shares plummet as HS2 delays impact revenue, with rail services hardest hit
By City AM
The construction firm said its overall revenue fell 17.8% to £525m for the first six months of the year, of which revenue for its rail infrastructure services slumped 23.3% to £185m
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º£½ÇÊÓƵ-based Databricks surges to $100bn valuation after new funding round
By City AM
The San Francisco-based firm has sealed a new funding round that is set to increase its valuation by 61 per cent to over $100bn, making it one of the world's most valuable companies.
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Starling Bank acquires º£½ÇÊÓƵ fintech Ember to enhance small business services
Banking & Finance
The London-based firm said as part of the takeover, Ember's tax and bookkeeping software will be built into Starling's app and online bank.
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Close Brothers shares downgraded despite Supreme Court victory in motor finance case
By City AM
The FTSE 250-listed bank's stock rating was lowered to 'Sector Perform', down from previous 'Outperform' expectations
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BHP's profits plummet to a five-year low amid falling iron ore prices and economic challenges
By City AM
The mining giant's profit has been hit by lower iron ore prices and economic turmoil.
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Monzo to follow Klarna and Revolut with launch of mobile service
By City AM
The London-based firm is looking to offer a Monzo-branded service to its over 12 million in account holders.
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Close Brothers shares fall as analysts downgrade despite motor finance court victory
By City AM
Close Brothers shares have taken a hit despite the bank's motor finance win at the Supreme Court last month
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Dr Martens turnaround is in full swing, says City broker
By City AM
Dr Martens, the boot company, has been in the doldrums for years, but a new strategy has sparked hopes of a recovery - and City analysts are starting to get on board
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Landsec sells Westminster building to group bidding to lead Heathrow expansion
By City AM
The sale of Queen Anne's Mansions, located in SW1, by Landsec marks a major step in the property firm's ambition to sell off £2bn of its office portfolio by 2030
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