As it happened: FTSE 100 slide as oil price jumps; Global bond yields higher October 7, 2026 Welcome back to City AM‘s FTSE 100 liveblog. Global markets are swimming in the red as the price of oil trends higher following tensions in the Middle East offsetting a rise in supply. Brent crude – the international benchmark for oil prices – tipped over $101 per barrel on Wednesday following intensified attacks on tankers in the [...]
Will anyone turn Badenoch’s looming battle into a tapestry? October 7, 2026 The Tory party has been enjoying itself in Birmingham, not least thanks to the delightful wheeze of mocking up the Bayeux Tapestry to tell the story of British politics under Labour’s first two years in power. The exhibition may well prove to be among the most popular offerings at the party conference; behind Jeremy Clarkson [...]
‘Serious concern’: City watchdog accused of withholding information in motor finance row October 7, 2026 The City watchdog is coming under pressure to release its communications with the Treasury and modelling data for its controversial motor finance redress scheme, City AM can reveal. The Financial Conduct Authority (FCA) is facing legal challenges from the finance arms of Volkswagen and Mercedes Benz as well as French-owned CA Auto Finance over its [...]
Stages of tax grief: Is it time for bankers to bargain? October 7, 2026 Banks are in the firing line at the Budget and in a meeting with bosses on Tuesday chancellor John Healey played coy on any increased rates. In this week’s column Samuel Norman looks at what trade-off could be made. Also on the cards, fresh data shows fintechs are lurching ahead of the incumbents on customer [...]
Badenoch to offer tax cuts as Tories pitch ‘credible alternative’ to Labour October 6, 2026 Expectations are growing that Kemi Badenoch will announce “multiple” tax cuts in her flagship speech at the Conservative Party conference, with announcements on national insurance and inheritance tax set to take centre stage. The Tory leader is looking to boost her support base among Britain’s middle classes as she warned that an early election would [...]
Reeves beats Kwarteng to ‘worst chancellor’ in new ranking October 6, 2026 Just months after her exit from Number 11, Rachel Reeves has been given the dubious honour of being voted “worst chancellor”, in a new survey. According to an AJ Bell survey, Reeves was the least popular of the last five chancellors, and even ranked below Kwasi Kwarteng, who held the role for just over a [...]
Governments should spend more on welfare to tackle cost of living, says IMF October 6, 2026 Governments across the world should prioritise targeted welfare support for low income households over broader measures like tax cuts to ease the cost of living, the International Monetary Fund has said. Policymakers should do more to protect vulnerable households from surges in inflation caused by geopolitical events like the Iran war, the IMF says in [...]
As it happened: FTSE 100 jumps as oil price eases after crude exports rise October 6, 2026 Welcome back to City AM‘s FTSE 100 liveblog. The oil market is getting some relief as crude exports recover but the price of a barrel is stubbornly holding over the $100 mark. Brent crude – the international benchmark for oil prices – traded near $100 per barrel on Tuesday morning after declining in the previous session. It [...]
Monument Bank boss: Wealthy Brits in ‘fear’ ahead of punishing Budget October 5, 2026 Wealthy Brits are in a state of “fear” ahead of the forthcoming Budget, according to a London bank chief, as economic turmoil and speculation of more punishing tax raids ramp up. Ian Rand, the boss of Monument Bank, said affluent Brits were raising concerns over “certainty” and “getting things wrong” when attempting to protect their [...]
UK bank bosses and John Healey set for tax showdown October 5, 2026 When banking lobbyists geared up for an offensive ahead of the 2025 Budget, a tax cut barely made the wishlist. Modest in their ambitions, advocates were preparing to settle for anything that didn’t see their already eye-wateringly high tax bill rise. That is until, City AM understands, officials advised them to make a cut a [...]