The operator of the London Stock Exchange has taken the significant step of cancelling hundreds of corporate subscriptions to the Financial Times, according to sources familiar with the matter. This decision marks a potential end to a decades-long relationship between two of the City of London's most prominent institutions.
A Strategic Shift in Editorial Focus
LSEG is understood to have made this move in direct response to the Financial Times' gradual retreat from comprehensive coverage of the London markets. In recent years, the newspaper has been redirecting more of its resources towards political reporting and international affairs, leaving its traditional focus on the Square Mile's financial activities diminished.
Both LSEG and the Financial Times declined to comment on the subscription cancellations or the reasoning behind this development. This silence underscores the sensitivity of the situation between these long-standing City partners.
Historical Context and Changing Priorities
Since its establishment as the London Financial Guide in 1888, coverage of the London stock market has been the cornerstone of the Financial Times' identity. The newspaper's influence is so profound that London's premier stock index, the FTSE 100, derives its name from this publication.
However, analysis reveals a dramatic shift in editorial priorities. The pink broadsheet has systematically reduced its reporting on London-listed businesses, choosing instead to expand its political commentary and coverage of overseas markets.
Quantifying the Coverage Decline
A detailed examination of Financial Times reporting indicates that the frequency of coverage for large-cap London-listed businesses has plummeted by approximately 70 per cent since 2010. This represents a substantial departure from the newspaper's historical commitment to City reporting.
Specific examples highlight this trend:
- Barclays bank, which previously featured more than 2,000 times annually in FT reporting before 2015, saw mentions tumble to below 750 in 2025
- BP coverage fell from 1,900 mentions in 2010 to just 384 in 2025
- Tesco mentions slumped from nearly 1,000 in 2014 to merely 144 in 2025
The Rise of Political Reporting
Concurrently with this corporate coverage decline, political reporting has seen substantial expansion. During the 2024 election year, terms like "Labour Party" and "Conservative Party" appeared almost twice as frequently compared to 2010 levels.
Notably, Reform leader Nigel Farage received more mentions in 2025 than during the pivotal 2016 Brexit referendum year, indicating the newspaper's increased political focus.
Industry Perspectives on the Shift
A communications chief from a FTSE 100 company offered this assessment: "The quality of political coverage at the FT has never been better and more pertinent... but its corporate coverage has never been weaker, particularly in London."
The executive further noted: "Senior editors increasingly seem more comfortable speaking at international forums like Davos than they do engaging with the City community."
Impact on Core Readership
A former Financial Times journalist with extensive experience observed: "A sustained retreat from daily coverage of global asset markets at the FT has left its core City readership having to seek information elsewhere, both in print and online."
The journalist added: "While occasional analysis pieces maintain some value, the everyday habit-forming price stories that once defined the FT are now conspicuously absent. This absence is deeply felt by traditional readers, as demonstrated by LSEG's landmark decision, which would have been unthinkable in previous decades."
This development represents a significant moment in the evolving relationship between financial institutions and media organisations in London's business district. The subscription cancellations signal growing dissatisfaction among corporate readers who rely on comprehensive market coverage that the Financial Times appears to be deprioritising in favour of broader political and international reporting.
