Pension fund snaps up cut-price government bonds amid Starmer sell-off May 13, 2026 One of the UK’s largest pension funds has jumped on the turmoil that speculation over Keir Starmer’s future has unleashed on the gilt market, scooping up government bonds at multi-decade low valuations. Standard Life has added to its holding of UK government debt, City AM understands, seizing on a sharp dip in the of the [...]
Ticket tout bill branded as ‘not enough’ as Labour confirms crackdown May 13, 2026 After months of pressure from the music industry and furious fans, Labour has confirmed plans for a sweeping crackdown on ticket touting as part of Wednesday’s King’s Speech. But reforms may still be years away from becoming law. The draft Ticket Tout Ban Bill would make it illegal to resell tickets for live events above [...]
Ministers to be handed ‘statutory powers’ to steer regulator’s growth agenda May 13, 2026 Ministers will be handed new “statutory powers” to steer UK watchdog’s growth agenda and define what it means in different “regulatory contexts“. In the King’s Speech, the government revealed its Regulating for Growth Bill – a cross-sector piece of legislation designed to beef up the UK’s regulatory system’s fostering of growth. The government’s report takes [...]
IEA warns of ‘record’ oil drawdown after ‘unprecedented’ Strait of Hormuz supply shock May 13, 2026 The West’s international energy watchdog has warned that oil stockpiles were being drained at a record rate last month as the US’s war in Iran continues to choke supply in an “unprecedented” supply shock. The International Energy Agency revealed that around 4m barrels of oil a day were tapped from back-up supplies in April, within [...]
Uzbekistan national investment fund lists in London after $604m IPO May 13, 2026 Uzbekistan’s national investment fund has completed the country’s first ever public market debut, raising hundreds of millions of pounds at a valuation of £1.5bn, in London’s first major IPO of 2026. In an update on Wednesday, the National Investment Fund of the Republic of Uzbekistan (Uznif) confirmed it had completed its dual listing on both [...]
King’s Speech: Red tape to be cut to help Britain host Euros and World Cup May 13, 2026 Hosting the Fifa World Cup, Olympics and Euros will become easier after the government promised to legislate to cut the red tape hindering major sports events. A new Sporting Events Bill will deliver a set framework which can be applied to major sporting events and is hoped to keep Britain an attractive – and reliable [...]
Volkswagen Golf R: RIP to the ultimate hot hatch? May 13, 2026 A decade ago, when its Mk7 predecessor roamed the roads, the Volkswagen Golf R faced a plethora of hot hatchback rivals. These included the Ford Focus ST and RS, Honda Civic Type R, Peugeot 308 GTI, Hyundai i30 N and Renaultsport Megane. All have since been quietly euthanised and not replaced. The venerable Audi RS3 [...]
London-listed defence contractors shed light on impact of wartime economy on City firms May 13, 2026 Two major London-listed defence companies shed fresh light on the sector’s performance during the current bout of geopolitical turmoil on Wednesday, offering insight into the reach of the war time economy into the City. FTSE 100 constituent Babcock International made it onto the top-tier share index’s leaderboard after it unveiled plans to return £200m to [...]
‘Dual squeeze’: FCA approvals for e-money licences plummet May 13, 2026 The number of successful applicants for e-money licences has plummeted in the last few years raising further questions over a slow down in market growth. Fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – showed just 35 applicants were able to bag an electric money institution (EMI) [...]
Labour leadership turmoil to cost Reeves up to £12bn May 13, 2026 Labour’s political infighting could cost Chancellor Rachel Reeves up to £12bn, analysis by a Wall Street bank has suggested. Hot-tempered bond markets and stunted growth – a consequence of further political instability – would knock around £12bn off the Chancellor’s fiscal headroom, Goldman Sachs warned. While the £12bn hit to public finances would not erase [...]