Brexit 10 years on: Business does not want a referendum rerun, says CBI chief June 23, 2026 British businesses are focused on the future and do not want a rerun of the Brexit referendum, the leader of the UK’s largest business lobby group has warned. Speaking to the FT, CBI director-general Rain Newton-Smith, on the tenth anniversary of the referendum, stated that despite the economic pain of leaving the EU, businesses don’t [...]
Burnham to lay out economic plan, but markets fear Miliband as Chancellor June 23, 2026 With more than three weeks to go before he can formally clinch the keys to 10 Downing Street, leadership challenger Andy Burnham is planning to make a major speech on the economy next week. It’s part of an effort to reassure the bond markets – to which he once said we shouldn’t be “in hock” [...]
As it happened: Stocks recover after markets rocked by tech-sell off; US claims ‘good foundations’ of Iran deal June 23, 2026 Welcome back to the City AM liveblog. Markets have shrugged off the latest developments in US-Iran peace with the FTSE 100 falling at open as London got swept up in the wider sell-off that rocked Asia and Wall Street overnight. This comes despite some progress in the Middle East, with Trump’s Vice President JD Vance [...]
Five graphs that reveal Burnham’s fiscal headache June 23, 2026 Andy Burnham was not shy with his spending pledges in the run up to victory in Makerfield last week. At various points, the former Manchester Mayor has pledged his party will nationalise water companies, including Thames Water; “stick with” the Waspi women, signalling a potential multi-billion pound payout to aggrieved pensioners; slash rail fares; kick [...]
Speed or stability? Bond markets strap in for Andy Burnham coronation June 22, 2026 City bond traders are strapping in for a “jumpy” ride as Andy Burnham looks set to cruise into Downing Street uncontested – even if a coronation helps head off the worst volatility, analysts have said. The former Manchester Mayor’s bid for the top job won a major boost today as former health secretary Wes Streeting [...]
Streeting backs Burnham as ‘King of the North’ calls for ‘orderly’ transfer of power June 22, 2026 Wes Streeting has backed Andy Burnham to become Prime Minister as the former Manchester mayor formally announced his leadership bid. The former health secretary said Burnham “can win the fight of our lives against the forces of nationalism”. Streeting said he had spoken “at length” with Burnham and said the former Manchester mayor was “committed [...]
Nigel Farage calls for General Election after Starmer replacement June 22, 2026 Reform UK leader Nigel Farage has called for a general election after Sir Keir Starmer announced his resignation today. In a Substack essay, Farage hit out at Andy Burnham – the likely successor to Starmer – and said that the UK could not “afford to waste another week drifting from crisis to crisis”. “To men [...]
As it happened: FTSE 100 finishes higher as US-Iran talks progress and Starmer resigns; Space X shares fall after bond sale June 22, 2026 Welcome back to the City AM liveblog. Markets are set to start off the new week facing renewed threats on both the domestic and geopolitical front. Over the weekend, fractures that were forming in the US-Iran peace deal burst wide open after Iran’s top military command said it shut the Strait of Hormuz after “violations” [...]
Brexit 10 years on: Labour’s EU reset deal is ‘no growth strategy’ June 22, 2026 The Labour government’s “reset” deal with the EU is not delivering substantial gains on growth, trade specialists and economists have warned on the anniversary of the Brexit referendum’s polling day. The government’s first deal with the EU struck in May last year, which will be ratified by parliament in a bill over the course of [...]
Iran to close Strait of Hormuz as Trump threatens toll June 21, 2026 Iran’s top military command has said it will shut the Strait of Hormuz in response to alleged violations of the ceasefire agreement despite President Trump’s threats to impose a toll if the stretch of water is closed off. The Iranian leadership said the crucial shipping passage will be closed to vessel traffic as the “first [...]