Staff burnout soars in professional services due to inefficiencies and outdated IT June 3, 2026 More than a quarter of client-facing staff at professional services firms are wasting a large portion of their working week on manual administrative tasks rather than core client work, according to new research by Unit4. The report, commissioned by Pierre Audoin Consultants (PAC), on global mid-to-large professional services firms, including those in the UK, revealed [...]
Labour turmoil and Iran war brings ‘reversal of fortunes’ for UK economy June 3, 2026 A combination of feverish political speculation and knock on effects from the war in Iran has culminated in a “reversal of fortunes” for the UK economy, as new data suggests activity across the private sector declined in May. S&P Global’s monthly survey of hundreds of firms has shown that business across services companies declined in [...]
‘Difficult year’ for discount retailer B&M as profits fall almost a half June 3, 2026 A series of updates from London-listed retailers has light on the battle for sales between online and traditional outlets, with household spending under pressure, writes Michael Hunter. FTSE 250 retailer B&M has revealed a drop of almost a half in annual profit in what it called a “difficult year”. It was the most eye-catching piece [...]
Number of private school pupils plummets after Labour’s VAT hike on fees June 3, 2026 Private school pupil numbers have plummeted by 30,000, down nearly 7 per cent in some year groups, since Labour introduced VAT on fees. As of 1 January 2025, private school fees in the UK, including tuition and boarding, are subject to 20 per cent VAT, a change announced by Chancellor Rachel Reeves in her 2024 [...]
OECD: Growth to remain below one per cent as UK economy struggles with unemployment June 3, 2026 What little growth the UK economy will experience this year will be fuelled by high government expenditure, according to the world’s top independent economic organisation. The OECD, the Organisation for Economic Co-operation and Development for long, said public expenditure would “support the economy” even as consumer spending and business investment is set to weaken. The [...]
Space X bumps back to earth as analysts slash value June 3, 2026 Morningstar analysts have valued Space X at $780bn (£579.9bn), a figure less than half of what the company is reportedly aiming for in its upcoming initial public offering. The valuation comes roughly 48 per cent below its private market valuation, with Elon Musk’s company looking for a valuation between $1.7 trillion and $2 trillion. The [...]
Ovo to cough up £10.4m for exposing vulnerable customers to harm June 3, 2026 Energy supplier Ovo is set to cough up a hefty sum after an investigation by the watchdog concluded that it had left vulnerable customers at risk of harm. The firm – which focuses on smart technology, green energy tariffs, and carbon-reduction goals – will pay £7m into Ofgem’s voluntary redress fund, which is used for [...]
As it happened: Stocks jitter on stalling US-Iran talks; OECD unemployment warning June 3, 2026 Welcome back to the City PM liveblog. Markets are being pulled in countless directions from the conflicting information emerging around the conflict in the Middle East. The FTSE 100 managed to shrug off some of these jitters yesterday and secure a finish 0.3 per cent higher as the price of oil slipped. But this morning [...]
Chelsea to hand Joao Pedro wage boost as club prepare for tough summer June 3, 2026 Chelsea face a difficult summer ahead following their failure to qualify for Europe, but Joao Pedro is set for a base-salary increase that may help them keep hold of one of their star players. The Brazilian forward – a £60m signing from Brighton last summer – was a rare bright spark in an otherwise gloomy [...]
Is ‘disinformation’ really one of the biggest challenges facing London? June 3, 2026 All power to the Lady Mayor and her newly assembled team of City leaders who want to shout from the rooftops about the strengths and assets of our great capital city. Dame Susan Langley will tonight launch a new campaign, Team UK, backed by some of the Square Mile’s biggest business and industry groups, with [...]
