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IG Group extends share buybacks after Freetrade acquisition

January 22, 2025

IG Group is set to spend £50m more on share buybacks following its acquisition of trading app Freetrade. In the firm’s six month results to 30 November, the FTSE 250 firm said it would be extending its previous share buyback programme from £150m to £200m. “It is pleasing to show how we can both invest [...]

THG trading on target after Ingenuity split

January 22, 2025

THG, the company behind fitness supplement brand Myprotein, has reported its first trading update after the group split in two earlier this year. The company told the market this morning that adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) for 2024 are expected to align with consensus expectations. At the beginning of January, THG [...]

‘It’s a clear message’: Reeves’ CMA scalp fires warning to regulators

January 22, 2025

The government has sent a “clear message” to UK regulators by ousting the chair of competition watchdog, in what lawyers described as the “most overtly political” regulatory intervention of recent years. Marcus Bokkerink, who joined the Competition and Markets Authority (CMA) in 2022, was forced out of his role due to a “different approach” on [...]

The Debate: Is Tiktok rotting our brains?

January 22, 2025

Forget about the Chinese espionage, is Tiktok rotting our brains? Our writers hash it out in this week's Debate.

Mark Kleinman: Kicking the Abbey habit may be harder than it looks for Botin

January 22, 2025

Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. This week, he looks at Santander shifts, a tale of two cities in banking and a canary in the Poundland coalmine Kicking the Abbey habit may be harder than it looks for Botin Is this the [...]

Real Madrid named richest football club after breaking €1bn revenue barrier

January 22, 2025

Real Madrid have cemented their status as the richest club in world football after becoming the first to achieve more than €1bn of revenue in a single year, says Deloitte’s Football Money League. The European champions increased their income by 26 per cent to €1.046bn (£884m) for 2023-24 thanks to the full reopening of their [...]

Reeves to water down non-dom changes as scale of exodus revealed

January 22, 2025

Rachel Reeves has confirmed she will alter some of the more controversial non-dom reforms announced in the Autumn Budget. Speaking at the World Economic Forum in Davos, the Chancellor committed to tabling an amendment to the Finance Bill removing some of the most contentious elements of its changes to non-dom taxation. Answering a question from [...]

Digital 9 Infrastructure: Investec slams ‘shocking’ asset sale

January 22, 2025

Investec analysts have slammed the sale of Digital 9 Infrastructure’s assets as part of the investment trust’s wind-down, describing the process as “extremely poor for shareholders”. Digital 9, once a darling of the infrastructure sector, fell into chaos after governance concerns and funding problems emerged throughout 2023. The trust voted to wind down in March [...]

London Gems: Is Canary Wharf more than a business hub?

January 22, 2025

Join City AM as we spend a day exploring the best spots in Canary Wharf, from green spaces to cutting-edge architecture.

Sainsbury’s to axe 3,000 jobs and close all in-store cafes

January 22, 2025

Supermarket giant Sainsbury’s has confirmed plans to axe more than 3,000 roles as it prepares to close all its remaining in-store cafes. The major overhaul will cut two per cent of its current workforce, which stands at 148,000. The move will also make around 20 per cent of senior management roles at Sainsbury’s redundant. The [...]

Food and drink deals spike as big firms look to strengthen positions

January 22, 2025

M&A deal volumes in the food and drink sector saw a double digit rise last year, as buyers targeted undervalued companies in a bid to strengthen their positions in the market. Total deal volume rose to 151 deals in 2024, a 29.1 per cent increase from 117 deals in the previous year, while the total [...]

Luxury London hotel sale boosts profit at family empire

January 22, 2025

The sale of a luxury hotel in London significantly boosted the profit of a family empire which has set its sights on further expansion across the UK. Apex Hotels, which was founded by Norman Springford, has posted a pre-tax profit of £28.4m for the year to 30 April, 2024, after selling Apex London Wall Hotel [...]

Smartphone dominance: Samsung races Apple with new AI launch

January 22, 2025

Samsung launched its new artificial intelligence (AI) powered series, marking the latest salvo in its ongoing battle with Apple for dominance in the global market. While Apple continues to hold its commanding lead in the US, with 53 per cent market share compared to Samsung’s 23 per cent; the latter is betting on its AI [...]

‘Find me unwinding in my jacuzzi’: The life of Planet Organic founder Renee Elliott

January 22, 2025

Planet Organic founder Renee Elliott built a health food empire in London. She tells us how she did it and what her life's like now.

CMC Markets: Firm founded by Lord Cruddas sees shares tank

January 22, 2025

CMC Markets’ share price has nosedived more than 12 per cent after issuing a brief trading update to markets. In a stock exchange announcement this morning, the firm said it remained “on track” to deliver annual net operating income in line with previous guidance. “Management also remains confident in meeting its cost guidance of approximately [...]