UK gas prices spike over 90 per cent amid US-Iran war March 3, 2026 Gas prices in the UK have nearly doubled as the war between US and Iran ramped up since the weekend. The price of UK wholesale gas prices – which reflect the costs energy suppliers pay to producers for natural gas before selling to household and businesses – has rocketed by 93 per cent in just [...]
Greggs profit flakes as baker faces lukewarm start to year March 3, 2026 Profit at Greggs is flaking away as the chain bakery faces a lukewarm 2026, with sales slowing already this year. The chain’s underlying profit before tax fell nine per cent to £171.9m in the financial year to December 2025, though total sales were up seven per cent, the bakery’s preliminary results show. The baker is [...]
Spring Statement Live: UK growth cut for 2026 but Reeves touts future forecasts March 3, 2026 Welcome back to the City AM liveblog. Rachel Reeves delivered her Spring Statement today, as the Office for Budget Responsibility published its updated forecasts for the years ahead. The Chancellor was handed quite a hefty blow with the UK’s growth estimate for 2026 slashed to 1.1 per cent from 1.4 per cent the year prior. [...]
Reeves delivers Spring Statement as war rages and markets tremble March 3, 2026 Spare a thought for Rachel Reeves. She had hoped to make a Spring Statement that nobody noticed and yet today she has to deliver it as war rages in the Middle East, triggering warnings of energy price shocks, instability and inflation. There is a very real prospect that the economic forecasts to which the Chancellor [...]
Greens close gap with Labour in polls after historic by-election win March 3, 2026 The Greens are now biting at the heels of the Labour Party in national polling after its candidate Hannah Spencer stormed to a historic by-election win in Gorton and Denton last week. The latest City AM/Freshwater Strategy poll puts the Greens on 15 per cent, with Labour ahead of them by three points, a smaller [...]
AI-fuelled plumbing boom is luring in private equity March 3, 2026 AI has made trades like plumbing alluring not just to jobseekers, but private equity investors, writes Susannah Streeter.
Meet Reeves’ outsider tasked with steering the City to growth March 3, 2026 The City has rolled out the red carpet for the banking watchdog’s new chief after Katharine Braddick, a seasoned veteran of the financial trenches, was named on Friday as the successor to Sam Woods. For a cool £314,000 a year, she’s set to take on the brief of steering the UK’s banking sector. Chancellor Rachel [...]
Cadillac to leverage US identity to grow F1 sponsorship portfolio March 3, 2026 Formula 1 newcomers Cadillac are harnessing their status as the only “truly” American team to power their sponsorship strategy ahead of the season opener this weekend. Cadillac will be the 11th team on the grid after General Motors and Chelsea co-owner Mark Walter’s TWG paid a reported $450m anti-prize money dilution fee to expand the [...]
Reeves to deliver ‘stability’ Spring Statement amid turmoil in Iran March 3, 2026 Chancellor Rachel Reeves is set to deliver a Spring Statement trumpeting the UK’s economic stability against the backdrop of a war in the Middle East, with official forecasts expected to touch on lower growth, falling inflation and higher unemployment over the coming months. In an address to the House of Commons around 12.30pm today, Reeves [...]
Oil price surge pushes investors to bet against interest rate cut March 2, 2026 Investors have pared bets that the Bank of England will cut interest rates in March, as analysts worry that the surge in oil and gas prices could prop up inflationary pressures in the economy. European gas prices were up over 40 per cent on Monday while oil prices gained seven per cent to hover around [...]