As it happened: Choppy finish for FTSE 100 as global markets rocked by AI sell-off May 19, 2026 Welcome back to the City AM liveblog. Businesses have raised the alarm over falling vacancies as new data showed a further weakening in the jobs market. Vacancies remained at a five-year low in April 2026, with a leading industry group saying recruiters were “pausing” plans to hire workers. The British Chambers of Commerce’s head of [...]
Sign of the Dimes: Harry Styles Wembley run to drive £1bn spending frenzy May 19, 2026 Harry Styles’ 12-night Wembley residency is set to rake in more than £1bn in spending in the capital, smashing previous records set by Taylor Swift concertgoers. The Mancunian popstar is expected to attract £88.3m in spending per night, far higher than the £66.5m recorded during Taylor Swift’s UK Eras Tour dates in 2024, according to [...]
Mel Stride: Markets have issued ‘damning verdict’ on Labour May 18, 2026 Shadow chancellor Sir Mel Stride is set to claim that markets have issued the Labour government a “damning verdict” after continual leadership speculation and tax rises, warning that taxpayers will be left on the hook. In a speech at the Centre for Policy Studies, Stride will argue that investors have taken an ill-view of the [...]
Jamie Dimon’s iron grip on JP Morgan threatens investor rebellion May 18, 2026 Jamie Dimon’s iron grip on JP Morgan comes under the microscope at the Wall Street giant’s annual general meeting on Tuesday as the banking exec looks to fend off an investor rebellion. The world’s most influential banker is facing an activist offensive that targets splitting up the chief executive and chair role – two positions [...]
Burnham calls for UK to abandon ‘40 years of neoliberalism’ May 18, 2026 Labour leadership hopeful Andy Burnham has called for the UK to abandon “40 years of neoliberalism” as he claimed that Westminster politics had failed northern communities. In what is being widely interpreted as Burnham’s Labour leadership launch speech, he said that the upcoming by-election in Makerfield was a chance for a “much bigger debate about [...]
Rachel Reeves reforms ring-fencing in boost to Natwest and Lloyds May 18, 2026 Rachel Reeves has handed a major boost to the likes of Natwest and Lloyds with an overhaul of the ring-fencing regime in hopes to free up capital to be invested into the UK. The Treasury has unveiled a shakeup of the 15-year-old legislation, which requires major banks to separate their retail banking operations from their [...]
IMF tells Reeves to drop triple lock pension and make ‘fundamental’ tax reform May 18, 2026 The UN’s global financial fund has called on Chancellor Rachel Reeves to drop the triple lock pension and draw up “contingency” tax measures to ensure that public debt is reduced as a share of GDP. The International Monetary Fund has said that there are “risks” around spending forecasts and tax receipts, criticising the Chancellor for [...]
From pensions to healthcare: UK state spending on old age surges May 18, 2026 Government spending on the elderly has dramatically increased the size of the state, analysis by the official statistics body has shown. Fresh research by the Office for National Statistics has suggested a steady rise in spending on health and old age has contributed to a rise in government consumption as a share of GDP. In [...]
Emergency lifeline for collapsed banks doubled to £3bn May 18, 2026 The emergency credit fund that serves as a lifeline for collapsed lenders has been doubled as a result of “recent regulatory and operational developments”. The Financial Services Compensation Scheme (FSCS) – working in tandem with the Treasury and Bank of England – has hiked its revolving credit facility capacity to £3bn from £1.45bn previously. The [...]
UK businesses stall investments and cut headcount due to Iran war May 18, 2026 Over half of UK firms said they have halted investment and hiring plans due to the economic fallout of the Iran war, contributing to supply chain pressures and higher energy and fuel costs. According to new research from accountancy and advisory firm BDO, 57 per cent of 500 businesses with revenues between £10m and £500mn, [...]