No ‘capacity’ for Ed Miliband’s warm homes plan, says British bank boss June 2, 2026 A UK banking chief has warned the government does not have the “capacity” to meet its ambition to transition millions of homes to low carbon-heating technologies. Nigel Terrington, the boss of specialist lender Paragon Bank, said Labour faced an “operational capacity constraint” in its bid to implement its warm home plan. The £15bn initiative, which [...]
London luxury property at mercy of Labour chaos, not Iran war June 2, 2026 Labour party infighting, not the Iran war, is the primary factor shaping the ongoing slump in London’s luxury property market, experts have said. While inflation fears caused by the Iran war had been blamed for the capital’s stagnant prime property market, speculation around the tax regime of a potential successor to Starmer is emerging as [...]
Borrowing costs fall as interest rate hike fears ease June 2, 2026 Government borrowing costs fell sharply on Tuesday, after a dovish speech from Bank of England governor and revived hopes of a Middle East peace deal led traders to pare back bets on central bank interest rate hikes. Gilts rebounded across the curve, outperforming their European peers. The UK’s two-year and 10-year government bonds fell as [...]
Lime trialled fast-food lane that let Deliveroo riders bypass speed limits June 2, 2026 Lime has scrapped a trial that allowed Deliveroo riders to bypass speed restrictions on its rental e-bikes after questions were raised over the policy. The scheme, first reported by London Centric, gave riders using Lime’s new Delivery Pass access to areas where ordinary users would automatically be slowed down by the company’s “turtle mode” system. [...]
Surging military spending boosts London-listed defence sales June 2, 2026 Two London-listed manufacturing contractors are reaping the benefits of a surge in defence spending as the period of geopolitical turmoil boosts sales across the sector. FTSE AIM-listed firm Gooch & Housego’s saw its profits before tax surge by nearly 16 per cent in the first half of the financial year, up to £3.3bn, driven by [...]
Is Zack Polanski’s honeymoon over? June 2, 2026 Green Party leader Zack Polanski’s approval ratings have dived as scrutiny over his past experiences has put him in an awkward position. City AM/Freshwater Strategy polling has shown that Polanski’s approval ratings have dropped from a high of -5 in March to as low as -23 in this month’s data. On a monthly basis, his [...]
British American Tobacco shares slide as cigarette volumes decline June 2, 2026 British American Tobacco suffered a fall in share price in early morning trading, as investors opted to take profits despite updated revenue growth for the full financial year. Shares slipped 2.9 per cent to 4,447.3p, as investors ignored growth in its new category business and US momentum for declining cigarette volumes. Global cigarette industry volume [...]
Liverpool have the most valuable front-of-shirt deal in the Premier League June 2, 2026 Liverpool have the most valuable front-of-shirt sponsorship deal in the Premier League, a new fair market report has revealed. The Reds’ reported £50m-per-season deal with financial services group Standard Chartered is actually undervalued by over £10m and should be worth £61m, according to The Sponsor’s “Premier league Fair Market Sponsorship Values 2026” report. It sees [...]
As it happened: Stocks shrug off stalling Iran peace talks; OBR warns Reeves June 2, 2026 Good morning and welcome back to the City AM liveblog. Markets were rocked yesterday after reports emerged from Iranian state media that Tehran was pulling out of peace talks with the US. A proposal that included a 60-day cessation of violence and a play to re-open the Strait of Hormuz has hung in the balance [...]
Replace Reeves if Starmer goes, voters tell Labour June 2, 2026 Rachel Reeves should be replaced as Chancellor if Sir Keir Starmer is ousted in a Labour leadership contest, the majority of voters believe. Reeves’ team had told newspapers that she should stay on in order to maintain some stability if Starmer were defeated by Wes Streeting, Andy Burnham or another Labour leader contender in a [...]