Rachel Rees
@rachel-rees.bsky.social
Journalist at the Financial Times. Email me on rachel.rees@ft.com
Reposted by Rachel Rees
Currency traders bet against sterling ahead of Budget on.ft.com/4ihP5hP
Currency traders bet against sterling ahead of Budget
Investors buy option protection on fears Rachel Reeves’ tax-raising measures could hurt growth
on.ft.com
November 25, 2025 at 5:12 AM
Currency traders bet against sterling ahead of Budget on.ft.com/4ihP5hP
Reposted by Rachel Rees
Traders gobble up sterling puts as they position for a Budget that will add to downward pressure on the pound. By @rachel-rees.bsky.social + me
www.ft.com/content/fefd...
www.ft.com/content/fefd...
Currency traders bet against sterling ahead of Budget
Investors buy option protection on fears Rachel Reeves’ tax-raising measures could hurt growth
www.ft.com
November 25, 2025 at 9:01 AM
Traders gobble up sterling puts as they position for a Budget that will add to downward pressure on the pound. By @rachel-rees.bsky.social + me
www.ft.com/content/fefd...
www.ft.com/content/fefd...
Reposted by Rachel Rees
The tax-efficient wheels of British government on.ft.com/49kjud8
November 15, 2025 at 6:48 PM
The tax-efficient wheels of British government on.ft.com/49kjud8
vital public interest stuff from me & @ramshodgson.bsky.social
a gov figure told FT that the Cycle to Work scheme was "tax breaks to high earners buying £4,000 e-bikes for weekend rides in the Surrey Hills"
so for fun here's some charts on the £120 to £2,996 bikes being bought by gov employees
a gov figure told FT that the Cycle to Work scheme was "tax breaks to high earners buying £4,000 e-bikes for weekend rides in the Surrey Hills"
so for fun here's some charts on the £120 to £2,996 bikes being bought by gov employees
November 14, 2025 at 10:33 AM
vital public interest stuff from me & @ramshodgson.bsky.social
a gov figure told FT that the Cycle to Work scheme was "tax breaks to high earners buying £4,000 e-bikes for weekend rides in the Surrey Hills"
so for fun here's some charts on the £120 to £2,996 bikes being bought by gov employees
a gov figure told FT that the Cycle to Work scheme was "tax breaks to high earners buying £4,000 e-bikes for weekend rides in the Surrey Hills"
so for fun here's some charts on the £120 to £2,996 bikes being bought by gov employees
Reposted by Rachel Rees
NEW: The End of the Line: the centrepiece of Saudi Arabia’s Neom gigaproject - a 500m tall, 170km long wall-like building intended ultimately to house 9 million people - can’t get out of the ground, say more than 20 former Neom architects, engineers and senior executives.
ig.ft.com/saudi-neom-l...
ig.ft.com/saudi-neom-l...
End of The Line: how Saudi Arabia’s Neom dream unravelled
Mohammed bin Salman’s utopian city was undone by the laws of physics and finance
ig.ft.com
November 6, 2025 at 6:56 AM
NEW: The End of the Line: the centrepiece of Saudi Arabia’s Neom gigaproject - a 500m tall, 170km long wall-like building intended ultimately to house 9 million people - can’t get out of the ground, say more than 20 former Neom architects, engineers and senior executives.
ig.ft.com/saudi-neom-l...
ig.ft.com/saudi-neom-l...
I’m delighted to have been nominated for New Journalist of the Year at the British Journalism Awards, for my work with @jim.londoncentric.media at London Centric (who also got 3 noms!), and alongside multiple of my new colleagues at the @financialtimes.com
I’m v grateful to Jim for all his help!
I’m v grateful to Jim for all his help!
British Journalism Awards 2025: Finalists revealed
Press Gazette is proud to reveal the shortlist for the British Journalism Awards 2025, with links to all of the winning work.
pressgazette.co.uk
October 24, 2025 at 7:48 AM
I’m delighted to have been nominated for New Journalist of the Year at the British Journalism Awards, for my work with @jim.londoncentric.media at London Centric (who also got 3 noms!), and alongside multiple of my new colleagues at the @financialtimes.com
I’m v grateful to Jim for all his help!
I’m v grateful to Jim for all his help!
Reposted by Rachel Rees
I think this is the weirdest story I've ever reported. www.londoncentric.media/p/terry-ball...
The snail farmer of London, his mafia friends, and a £20m vendetta against the taxman
Terry Ball runs elaborate mollusc-based tax avoidance schemes that are costing London councils millions of pounds. Yet when London Centric tracks him down, an even stranger story emerges.
www.londoncentric.media
October 18, 2025 at 6:00 AM
I think this is the weirdest story I've ever reported. www.londoncentric.media/p/terry-ball...
October 7, 2025 at 9:17 PM
HMRC lost hundreds of millions of pounds more than previously estimated to phoenixing, an insolvency practice open to abuse by tax evaders
Sound familiar? @jim.londoncentric.media on Piccadilly Circus' phoenixing gift shops (and Asif Aziz) www.londoncentric.media/p/asf-aziz-l...
on.ft.com/4nzqlmU
Sound familiar? @jim.londoncentric.media on Piccadilly Circus' phoenixing gift shops (and Asif Aziz) www.londoncentric.media/p/asf-aziz-l...
on.ft.com/4nzqlmU
HMRC raises small business ‘phoenixing’ tax loss to £836mn
[FREE TO READ] Higher than previously estimated figure underlines challenge faced by UK agency in curbing losses
on.ft.com
September 14, 2025 at 11:59 AM
HMRC lost hundreds of millions of pounds more than previously estimated to phoenixing, an insolvency practice open to abuse by tax evaders
Sound familiar? @jim.londoncentric.media on Piccadilly Circus' phoenixing gift shops (and Asif Aziz) www.londoncentric.media/p/asf-aziz-l...
on.ft.com/4nzqlmU
Sound familiar? @jim.londoncentric.media on Piccadilly Circus' phoenixing gift shops (and Asif Aziz) www.londoncentric.media/p/asf-aziz-l...
on.ft.com/4nzqlmU
It's been really exciting to see where London Centric is going from the inside. I've had a lot of fun and I'm hugely grateful to Jim for all his guidance and ideas.
If you're not already a subscriber and you care about London, do check it out!
If you're not already a subscriber and you care about London, do check it out!
Today’s the final day at London Centric for @rachel-rees.bsky.social. For some reason she’s decided to leave one of the nation’s leading news outlets to go work for a niche business publication called the “Financial Times”. She’s broken loads of stories and is a star who’s worth following.
September 6, 2025 at 9:07 AM
It's been really exciting to see where London Centric is going from the inside. I've had a lot of fun and I'm hugely grateful to Jim for all his guidance and ideas.
If you're not already a subscriber and you care about London, do check it out!
If you're not already a subscriber and you care about London, do check it out!
A final little bit from me in today's edition: the south London flagger who told the BBC he was one of many “hardworking business people” hanging British flags -- and his £98,000 false injury claim
When I called him, he gave this gem of a quote
When I called him, he gave this gem of a quote
September 6, 2025 at 8:53 AM
A final little bit from me in today's edition: the south London flagger who told the BBC he was one of many “hardworking business people” hanging British flags -- and his £98,000 false injury claim
When I called him, he gave this gem of a quote
When I called him, he gave this gem of a quote
Reposted by Rachel Rees
Here's something a bit different. We've been reporting from Edinburgh to try to get to the bottom of a mystery in London. Princes Street is the Scottish capital's most famous shopping street — and it's gaining the *exact same* tatty gift shops as London. www.londoncentric.media/p/edinburgh-...
The Edinburgh connection to London's tax-evading gift shops
Plus: A chat with the Transport for London boss running the tube strike negotiations — and how the "hardworking businessman" putting up flags in south London tried to scam an insurer.
www.londoncentric.media
September 6, 2025 at 6:59 AM
Here's something a bit different. We've been reporting from Edinburgh to try to get to the bottom of a mystery in London. Princes Street is the Scottish capital's most famous shopping street — and it's gaining the *exact same* tatty gift shops as London. www.londoncentric.media/p/edinburgh-...
Moments before the dog was handed over, captured in grainy iPhone SE glory.
The pet does seem to be a crucial part of the protest. The man’s banner says “Dictators Fear Freedom, Even For Animals” with an icon of a dog.
Earlier this year, Iran banned dog-walking in cities including Tehran.
The pet does seem to be a crucial part of the protest. The man’s banner says “Dictators Fear Freedom, Even For Animals” with an icon of a dog.
Earlier this year, Iran banned dog-walking in cities including Tehran.
September 2, 2025 at 10:24 AM
Moments before the dog was handed over, captured in grainy iPhone SE glory.
The pet does seem to be a crucial part of the protest. The man’s banner says “Dictators Fear Freedom, Even For Animals” with an icon of a dog.
Earlier this year, Iran banned dog-walking in cities including Tehran.
The pet does seem to be a crucial part of the protest. The man’s banner says “Dictators Fear Freedom, Even For Animals” with an icon of a dog.
Earlier this year, Iran banned dog-walking in cities including Tehran.
THE DOG IS DOWN
Latest update from an anti-Iran protest at King’s Cross, where a man with a Pomeranian scaled the 34m clocktower at 8.
He just handed over the dog to firefighters on a cherry-picker, to scattered cheers from onlookers.
The man remains at the top and seems to be arguing with LFB.
Latest update from an anti-Iran protest at King’s Cross, where a man with a Pomeranian scaled the 34m clocktower at 8.
He just handed over the dog to firefighters on a cherry-picker, to scattered cheers from onlookers.
The man remains at the top and seems to be arguing with LFB.
September 2, 2025 at 10:08 AM
THE DOG IS DOWN
Latest update from an anti-Iran protest at King’s Cross, where a man with a Pomeranian scaled the 34m clocktower at 8.
He just handed over the dog to firefighters on a cherry-picker, to scattered cheers from onlookers.
The man remains at the top and seems to be arguing with LFB.
Latest update from an anti-Iran protest at King’s Cross, where a man with a Pomeranian scaled the 34m clocktower at 8.
He just handed over the dog to firefighters on a cherry-picker, to scattered cheers from onlookers.
The man remains at the top and seems to be arguing with LFB.
One of the capital's worst high-rise fires since Grenfell was just over a year ago; residents still have almost no answers.
London Centric's investigation into the devastating fire, from May: londoncentric.media/p/spectrum-h...
London Centric's investigation into the devastating fire, from May: londoncentric.media/p/spectrum-h...
80 residents lost their homes in the Spectrum Building fire last August.
This story sums up London's precarious housing market: cladding removal works that helped the fire's spread, extortionate rent for a block with known safety issues, uncontactable freeholders and an ongoing search for answers.
This story sums up London's precarious housing market: cladding removal works that helped the fire's spread, extortionate rent for a block with known safety issues, uncontactable freeholders and an ongoing search for answers.
In August there was a giant fire at a London block of flats that briefly led the news. Luckily everyone survived so interest subsided. But what actually went wrong at Spectrum House? London Centric has investigated and got the internal reports and pictures. www.londoncentric.media/p/spectrum-h...
September 2, 2025 at 8:43 AM
One of the capital's worst high-rise fires since Grenfell was just over a year ago; residents still have almost no answers.
London Centric's investigation into the devastating fire, from May: londoncentric.media/p/spectrum-h...
London Centric's investigation into the devastating fire, from May: londoncentric.media/p/spectrum-h...
Reposted by Rachel Rees
Nitrous oxide driving, with drivers using balloons behind the wheel, feels like it’s on the rise in London - backed up by what medical experts told us about referrals. But the scale of the issue is obscured because of how crashes are recorded in police stats. www.londoncentric.media/p/nitrous-ox...
Nitrous oxide drivers are causing chaos on London's roads
Plus: Did Reform nominate a dead woman for mayor, which big TV series is pretending to be called "Dark Train", and will the Central Line ever get the upgrades it deserves?
www.londoncentric.media
August 30, 2025 at 7:10 AM
Nitrous oxide driving, with drivers using balloons behind the wheel, feels like it’s on the rise in London - backed up by what medical experts told us about referrals. But the scale of the issue is obscured because of how crashes are recorded in police stats. www.londoncentric.media/p/nitrous-ox...
Today: wildfire risk in central London's parks/palaces
also
- 1 in 8 Notting Hill carnival arrests based on facial recognition tech
- Soho pedicab crash
- airport security vs wet-wipes
- headphones on the tube
- the cricket team and the zoo
www.londoncentric.media/p/will-wildf...
also
- 1 in 8 Notting Hill carnival arrests based on facial recognition tech
- Soho pedicab crash
- airport security vs wet-wipes
- headphones on the tube
- the cricket team and the zoo
www.londoncentric.media/p/will-wildf...
Why wildfires could come to inner London
Plus: Facial recognition arrests at Notting Hill Carnival, TfL tries to convince people to use headphones, and the London cricket team bought by a family with 900 crocodiles.
www.londoncentric.media
August 26, 2025 at 2:29 PM
Today: wildfire risk in central London's parks/palaces
also
- 1 in 8 Notting Hill carnival arrests based on facial recognition tech
- Soho pedicab crash
- airport security vs wet-wipes
- headphones on the tube
- the cricket team and the zoo
www.londoncentric.media/p/will-wildf...
also
- 1 in 8 Notting Hill carnival arrests based on facial recognition tech
- Soho pedicab crash
- airport security vs wet-wipes
- headphones on the tube
- the cricket team and the zoo
www.londoncentric.media/p/will-wildf...
Another fun part of this edition is the Qatari-royal-owned, mould-infested, ceiling-falling-down, £7.95m Mayfair townhouse that reminded me (already resigned to not owning in London for about 11 decades) just how outrageous London’s property market is.
August 20, 2025 at 7:39 PM
Another fun part of this edition is the Qatari-royal-owned, mould-infested, ceiling-falling-down, £7.95m Mayfair townhouse that reminded me (already resigned to not owning in London for about 11 decades) just how outrageous London’s property market is.
Spoiler: like all good things it’s tax related
The real reason for the introduction of 4% service charges on pints bought at the bar in London pubs. www.londoncentric.media/p/why-london...
The real reason London pubs are putting service charges on pints
Plus: Preposterous London property of the week, Lime insists its e-bikes don't pose a threat to your legs, and Transport for London pays for 24/7 security to keep the homeless away from Park Lane.
www.londoncentric.media
August 20, 2025 at 3:51 PM
Spoiler: like all good things it’s tax related
Reposted by Rachel Rees
Asif Aziz almost forced out London’s Prince Charles Cinema earlier this year. Is he trying the same again with Picturehouse Central - and is another major central London cinema under threat from the same landlord? www.londoncentric.media/p/picturehou...
Asif Aziz almost forced out one West End cinema. Is he doing it again?
To undermine one central London cinema may be regarded as a misfortune; to do it twice two looks like carelessness.
www.londoncentric.media
August 15, 2025 at 4:11 PM
Asif Aziz almost forced out London’s Prince Charles Cinema earlier this year. Is he trying the same again with Picturehouse Central - and is another major central London cinema under threat from the same landlord? www.londoncentric.media/p/picturehou...
Reposted by Rachel Rees
Ever wondered what the deal is with the InsideSuccess kids outside London stations who tell you they are raising money to stop knife crime? I have. Well @jim.londoncentric.media of London Centric has done the leg work, as ever.
substack.com/inbox/post/1...
substack.com/inbox/post/1...
Why can't anyone stop the fundraisers outside London stations?
Inside Success and WeRBlighty have broken the law with their fundraising activities. So why are they are allowed to continue operating outside the capital's busiest railway stations?
substack.com
August 8, 2025 at 7:54 AM
Ever wondered what the deal is with the InsideSuccess kids outside London stations who tell you they are raising money to stop knife crime? I have. Well @jim.londoncentric.media of London Centric has done the leg work, as ever.
substack.com/inbox/post/1...
substack.com/inbox/post/1...
Today's story: how a Wimbledon LTN led a man down a online rabbit hole, via a 6 hour lamppost sit-in.
also featuring anti-ULEZ bladerunners, a hardline vicar, flat-earthers, and conspiracy theorists quoting the Magna Carta
www.londoncentric.media/p/anti-ltn-p...
also featuring anti-ULEZ bladerunners, a hardline vicar, flat-earthers, and conspiracy theorists quoting the Magna Carta
www.londoncentric.media/p/anti-ltn-p...
The anti-LTN protestor who sat on top of a lamppost for six hours
Plus: A £700,000 home in a converted garage in Hackney, how to quickly stop illegal fundraisers in London, steak price increases, and more shenanigans in London Labour.
www.londoncentric.media
July 24, 2025 at 11:11 AM
Today's story: how a Wimbledon LTN led a man down a online rabbit hole, via a 6 hour lamppost sit-in.
also featuring anti-ULEZ bladerunners, a hardline vicar, flat-earthers, and conspiracy theorists quoting the Magna Carta
www.londoncentric.media/p/anti-ltn-p...
also featuring anti-ULEZ bladerunners, a hardline vicar, flat-earthers, and conspiracy theorists quoting the Magna Carta
www.londoncentric.media/p/anti-ltn-p...
Reposted by Rachel Rees
He's one of Britain's richest men. So why does Asif Aziz's property company keep leasing London gift shops to overseas students based in abandoned offices or flytipped car parks — before vanishing without paying millions of pounds in taxes? www.londoncentric.media/p/asf-aziz-l...
The billionaire and the tax evading gift shops
Asif Aziz's Criterion Capital manages a row of high-profile shops at Piccadilly Circus. So why does his team keeping renting them to students who vanish without paying millions of pounds in taxes?
www.londoncentric.media
July 22, 2025 at 6:48 AM
He's one of Britain's richest men. So why does Asif Aziz's property company keep leasing London gift shops to overseas students based in abandoned offices or flytipped car parks — before vanishing without paying millions of pounds in taxes? www.londoncentric.media/p/asf-aziz-l...
Today on London Centric: those blue jacket knife-crime fundraisers (Inside Success) and why no one seems to be able to get rid of them
www.londoncentric.media/p/inside-suc...
www.londoncentric.media/p/inside-suc...
Why can't anyone stop the fundraisers outside London stations?
Inside Success and WeRBlighty have broken the law with their fundraising activities. So why are they are allowed to continue operating outside the capital's busiest railway stations?
www.londoncentric.media
July 17, 2025 at 10:21 AM
Today on London Centric: those blue jacket knife-crime fundraisers (Inside Success) and why no one seems to be able to get rid of them
www.londoncentric.media/p/inside-suc...
www.londoncentric.media/p/inside-suc...