Cold wind of reality exposes Britain’s myths…and mistakes March 10, 2026 Crises reveal, and the illuminating effects of the latest Middle East war should leave us shuddering and ashamed. The nature of Keir Starmer’s government has been revealed; obsessing over the finer points of international law when our principal ally asked for our help. Starmer’s position has been exposed, too, with briefings suggesting he was more [...]
UK growth downgraded as firms measure hit from Iran turmoil March 9, 2026 The UK economy will suffer from sluggish growth this year, a leading industry body has warned, with further tax rises on the horizon remaining as a “risk”. Business chiefs have warned that the services sector is set to keep the UK economy afloat this year, with contractions expected to come across construction and manufacturing. The [...]
Reeves warns oil price shock to fuel higher inflation for Brits March 9, 2026 Chancellor Rachel Reeves has warned that a recent spike in oil prices will translate into higher inflation in the UK, with her economic approach centring on calls for the US, Israel and Iran to de-escalate the conflict in the Middle East. In a statement to MPs, Reeves said she called on G7 finance minister, which [...]
Iran war wipes £4.5 trillion from global stock markets March 9, 2026 The war in the Middle East has knocked £4.5 trillion off the value of global stocks since its start, as the financial impact continues to cause shockwaves around the world. The value of listed businesses has nosedived since the start of the US and Israeli campaign from $157.5 trillion (£117.6 trillion) to $151.5 trillion (£113.1 [...]
Will the Bank of England raise interest rates amid Iran war energy crisis? March 9, 2026 Traders are betting on interest rate hikes this year as Rachel Reeves and Sir Keir Starmer have consulted analysts at the Bank of England to monitor the impact of spiralling oil prices on the UK economy. Investors believe interest rates are more likely to rise than fall by the end of the year, with a [...]
Government borrowing costs mount on fears of inflation spike March 9, 2026 Government borrowing costs have climbed on escalating fears that the war in the Middle East will push up inflation and leave interest rates higher. The 10-year gilt yield jumped by some 14 basis points on Monday morning as traders continue selling off their gilt holdings over mounting fears that interest rates could rise. Longer-term gilt [...]
FTSE 100 Live: US stocks sink on open; Iran warns oil price could hit $200 March 9, 2026 Good morning and welcome back to the City AM liveblog. The chaos in global markets of last following the breakout of conflict in the Middle East is poised to continue as tensions in the Gulf showed no sign of slowing down over the weekend. The price of oil notched its highest gains in a single [...]
UK jobs market ‘facing sustained shocks’ March 9, 2026 The Labour government is facing a rallying cry to ease the cost burden on businesses to avoid derailing a recovery in the jobs market. The latest jobs report from KPMG and the REC, the professional body for recruiters, showed hiring for permanent roles reaching a stabilising point in February with the pace of declines the [...]
Borrowing costs climb most since mini-Budget on inflation fears March 6, 2026 The government’s borrowing costs rose dramatically on Friday and were on track to have their worst week since Liz Truss’s fateful mini-Budget, amid fears the escalating war in the Middle East will unleash another bout of high inflation. The interest rate on UK bonds – known as gilts – rose across the board, to reach [...]
Middle East war could ‘bring down the economies of the world’ March 6, 2026 The war in the Middle East could “bring down the economies of the world” as oil prices could surge to $150 per barrel if Gulf energy exporters shut production, Qatar’s energy minister has warned. Saad al-Kaabi said that restarting the production of liquified natural gas (LNG) – after it shut down the largest plant in [...]