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Close Brothers stock soars past target price while HSBC, Barclays and Standard Chartered tumble
By City AM
Shares in FTSE 250 lender Close Brothers rallied on Thursday morning whilst its banking rivals HSBC, Barclays and Standard Chartered tumbled
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FTSE 100 pharma giants GSK and Astrazeneca may have dodged Trump tariffs
By City AM
Pharmaceutical goods appear to be exempt from higher-rate tariffs introduced by President Trump in his 'Liberation Day' address on Wednesday, according to a City broker
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Pizza Express lands £55m chunk of extra dough after refinancing deal
By City AM
The restaurant chain has negotiated a £55m par debt paydown which will see its debt position reduced to £280m
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Wise forecasts robust growth with 21% increase in active customers and £1.4bn income
By City AM
The company said it is hosting a capital markets day and posted preliminary figures for its current financial year on Thursday
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Electrical giant Currys upgrades profit outlook as sales outperform
By City AM
The electrical retailer has told markets that adjusted profit before tax is now expected to be around £160m, versus previous guidance of £145m to £155m
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Food-to-go firm Greencore agrees potential £1.2bn takeover of rival Bakkavor
Deals
The deal will create a combined food group with annual sales of about £4bn
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London Stock Exchange's IPO market is 'nothing more than a dribble'
By City AM
There have only been four IPOs on the London Stock Exchange this year, compared to 15 takeover bids, as analysts fear the market is being depleted of strong companies
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City broker downgrades St James's Place despite strong inflows
By City AM
RBC analyst Ben Bathurst downgraded his price target on St James's Place from 1,100p to 1,050p today, after the wealth manager's stock price has fallen more than two per cent
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New 179-bed hotel development at London's historic Custom House seeks planning approval
By City AM
The Grade I-listed building was the home of customs and trade for over 200 years and the proposed redevelopment will deliver a new public access scheme
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Gattaca profits tumble as recruitment market remains flat
By City AM
The staffing specialist said that "permanent recruitment is subdued" as the wider recruitment market continues to face headwinds
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Raspberry Pi's profits halved in 2024 as stock price tumbles
By City AM
The firm, which listed on the London Stock Exchange in June, said its adjusted operating profit fell 15% to $37.2m (£28.8m) in the year to 31 December, just ahead of the average of analysts' forecasts
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Peloton suffers new º£½ÇÊÓƵ losses with company continuing to slash jobs
By City AM
The London-headquartered division has posted a pre-tac loss of £94.3 million for the 12 months to 30 June, 2024, after having also lost £115.2 million in the prior year
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Piers North is new CEO at Mirror publisher Reach plc as Jim Mullen moves to Jockey Club 
London
Incoming leader says 'It’s a huge honour to lead Reach as we continue to serve essential journalism to our audiences'
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'How I launched a luxury British fashion brand': Jenine Baptiste on the power of creative freedom
Fashion
Jenine Baptiste has worked for brands such as Victoria Beckham, Erdem, Doi Tung, and trained in Savile Row tailoring under Maurice Sedwell and Chittleborough & Morgan
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London's luxury real estate resilient amid non-dom reforms and global economic shifts
By City AM
The super-prime London property market has held up better than expected in the face of the government's non-dom reforms, according to one of the world's top luxury estate agencies
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Norwegian oil fund buys a quarter of London's Covent Garden from Shaftesbury
By City AM
Under the terms of the contract, Norges Bank Investment Management (NBIM) will buy a 25 per cent non-controlling stake in the £2.7bn Covent Garden estate, which Shaftesbury will continue to manage.
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Mining giant Rio Tinto counters calls to abandon London for Australia
By City AM
The mining giant holds a dual-listing in the º£½ÇÊÓƵ capital and Sydney, but has faced pressure from investors to abandon its current set up in favour of an Australian-domiciled holding company
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Lloyd's of London reports profit drop to £9.6bn amid US wildfire claims and market volatility
By City AM
Lloyd's of London, the world's leading insurance and reinsurance marketplace, has reported a profit before tax of £9.6bn for 2024, a drop from the £10.7bn reported for 2023
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Steven Bartlett's debut Dragons' Den investment, saved by Albex Group after administration
By City AM
Cheesegeek, the artisan cheese retailer that Steven Bartlett invested in during his first series on Dragons' Den, has been rescued after collapsing into administration
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Tech infrastructure company Softcat beats analyst expectations as profit jumps
By City AM
Softcat has beaten analyst expectations in the first half of the year, with gross profit jumping 12.1 per cent to £220.2m
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M&G reports jump in outflows as it slumps to loss in 2024
By City AM
The insurer and asset manager reported outflows of £9.5bn throughout 2024, compared to £4.7bn in 2023, it revealed in its annual results
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Thames Water £3bn emergency loan: Court of Appeal rejects challenge
By City AM
The Court of Appeal has dismissed an appeal against a £3bn rescue package for Thames Water - the º£½ÇÊÓƵ's biggest water supplier - following a three-day hearing last week
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Asos shares plunge as investors 'lose confidence' in retailer's turnaround plan
By City AM
Asos shares have plummeted more than 50 per cent since the start of the year as investors have lost faith in the firm's turnaround plan
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Lord Andrew Lloyd Webber's theatre empire facing 'notable impact' of Reeves tax hike
By City AM
LW Theatres is coming into next month off the back of a financial year which saw its turnover increase to almost £200m but its pre-tax profit slashed in half.
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