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BP shares jump despite profit and revenue hit in first half of 2025
By City AM
BP shares jumped on Tuesday despite the oil major recording a hit to profit and revenue in the first half of 2025 amid weaker oil prices and lower trading performance.
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Diageo faces profit plunge and high costs despite Guinness sales surge
By City AM
Sales of the iconic stout have exploded in the past two years as it has gone viral on social media. But it has not been enough to offset a broader slowdown in the FTSE 100 giant's spirits unit
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Dishoom sold to firm backed by LVMH in mega deal for popular º£½ÇÊÓƵ restaurant chain
By City AM
Dishoom has agreed a deal for an undisclosed sum with US-based L Catterton in a move which will see founders Shamil Thakrar and Kavi Thakrar dilute their stakes
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Close Brothers shares rocket as bank wins Supreme Court finance case
By City AM
Shares in the FTSE 250 lender surged over 25 per cent during early trading, hitting a high of 500p.
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McDonald's º£½ÇÊÓƵ doubles profit to £120m in 2024 despite job cuts and competition
By City AM
The US fast food giant has posted a pre-tax profit of £120m for its latest financial year, up from the £66.3m it reported in 2023 as it also cut 2,000 jobs
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Bank of England to cut interest rates but faces dilemma over future policy decisions
By City AM
The Bank of England is expected to cut interest rates this week, but the future of monetary policy is uncertain, according to leading economists
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Heathrow tables 'shovel ready' plans for new third runway after rival bid submitted
By City AM
The airport said it had submitted "shovel-ready" plans for a privately financed runway ahead of the Department for Transport's deadline on Thursday, which it said would clear the way for flights to take off within a decade
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Anglo American revenue takes hit as Donald Trump's trade war dents turnover
By City AM
The FTSE 100 giant, which is ramping up its focus on copper, has not been immune to the threat of US President Donald Trump's tariffs on all commodities including the red metal
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Heathrow: Billionaire launches rival bid to run airport's third runway expansion
By City AM
The Arora Group, which owns a number of hotels around the west London hub, has confirmed it will table a bid to run the £21bn project against the airport's current operators
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Shell posts 32% hit to earnings in second quarter amid volatile oil and gas prices
By City AM
The London-listed oil major recorded $4.26bn (£3.21bn) marking a 32 per cent fall from the second quarter of 2024, where the firm pocketed $6.29bn.
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Klarna secures º£½ÇÊÓƵ banking licence to take on Monzo and Revolut
By City AM
The buy now, pay later firm has been granted regulatory approval to offer savings accounts to its 11 million º£½ÇÊÓƵ customers, with a debit card on the horizon
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Santander º£½ÇÊÓƵ's strategic overhaul leads to job cuts and branch closures
By City AM
The bank said provisions for other liabilities and charges were up 74 per cent to £249m driven by "higher transformation related charges". The lender listed losses and provisions as rising 119.8 per cent to €340m (£296m)
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Revolut mulls China launch as fintech giant faces º£½ÇÊÓƵ regulatory hell
By City AM
Revolut is considering a move into China as the fintech giant battles regulatory issues closer to home in a bid to become a fully fledged bank in the º£½ÇÊÓƵ
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Rathbones sees profit fall as it warns on first-half market turbulence
By City AM
Rathbones has reported a decline in profit over the first six months of the year, as market turbulence in the first quarter took its toll on the FTSE 250 wealth manager
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HSBC profit plunges 29% amid China business write-downs, missing market forecasts
By City AM
The FTSE 100 listed global bank saw its pre-tax profit come in at $6.3bn (£4.72bn) in the three months to May 31, down from $8.8bn a year ago and below analyst expectations of $6.99bn.
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Camera giant Canon sees º£½ÇÊÓƵ losses almost triple as performance lags behind expectations
By City AM
Canon º£½ÇÊÓƵ has reported a pre-tax loss of £14.4m for the 12 months to 31 December 2024, according to new accounts filed with Companies House
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Barclays CEO urges Rachel Reeves to reconsider bank tax hike amidst economic growth concerns
By City AM
Barclays boss CS Venkatakrishnan has warned against a bank tax hike as the Chancellor looks to maintain her fiscal headroom
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Astrazeneca sees demand for cancer drugs soar as it mulls US listing
By City AM
Total revenue rose 11 per cent to $28bn (£12.98bn) in the first half of the year, driven by double-digit growth in Oncology and BioPharmaceuticals, the pharmaceutical giant told markets this morning
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Everyman shares rise after luxury cinema chain reports profit growth
By City AM
Everyman, which has 48 venues across the º£½ÇÊÓƵ, said this morning that revenue in the first half of 2025 rose 21% to £56.5m
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Shell's profits to suffer due to price volatility and weak chemical demand
By City AM
The FTSE 100 energy giant is set to report lower profits for the three months to June 30 as it continues to battle volatile oil prices and weak demand for chemicals
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Wood Group likely to agree takeover by Middle Eastern firm Sidara
By City AM
The new wave of interest from abroad in snapping up º£½ÇÊÓƵ assets has continued, with engineering and consulting firm Wood Group likely to recommend a takeover by Middle East-based Sidara
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Christian Dior º£½ÇÊÓƵ sales fall despite demand for watches and jewellery
By City AM
The luxury fashion brand's London-based division has seen its revenue and pre-tax profit decline, despite an uptick in demand for its watches and jewellery.
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London sushi chain Wasabi sheds over 100 jobs as profits slump
By City AM
Wasabi - which has 33 locations in London - has reported a pre-tax profit of £2.2m for 2024, according to new accounts filed with Companies House
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Wayfair slashes º£½ÇÊÓƵ workforce by 52% in two years as online sales take a hit
By City AM
The US homewares and furniture seller's º£½ÇÊÓƵ operation had a headcount of 405 at the end of 2024, compared to 587 in 2023 and 847 in 2022, it has been revealed
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