Rachel Reeves oversees borrowing spike as benefits spending offsets tax haul May 22, 2026 Rachel Reeves oversaw a surge in borrowing in the first month of the financial year as April’s figures hit the highest since 2020 on higher benefit spend. Government borrowing – which marks the difference between total public sector spending and income – topped £24.3bn in April 2026, according to the Office for National Statistics (ONS). [...]
As it happened: Stocks jump on peace hopes; Reeves hit by falling retail sales and surge in borrowing May 22, 2026 Good morning and welcome back to the City AM liveblog. Oil prices remain volatile and heightened as peace talks in the Middle East continue to run into stumbling blocks. Brent crude futures were up to $104 this morning following reports that Iran’s Supreme Leader was ordering for the nation’s enriched uranium reserves to remain in [...]
‘Exceptionally challenging’: Starling puts climate target under review May 21, 2026 Starling has placed its target to reduce carbon emissions by one-third by 2030 under review after it cited “exceptionally challenging” roadblocks in its mission. The UK fintech – which published its annual report on Thursday – had targeted achieving net zero across the financial services group by 2050. On the road to this goal, the [...]
Losses balloon at Easyjet despite seeing ‘no disruption’ to jet fuel supplies May 21, 2026 Easyjet has played down fears that a jet fuel crisis caused by the Middle East will rip through its low-cost model, saying it has kept price rises to a minimum despite losses at the carrier ballooning to more than half a billion pounds. The London-listed carrier told investors it was “not seeing any disruption” to [...]
BT overhauls dividend policy as it vows ‘enhanced distributions’ for shareholders May 21, 2026 BT has refreshed its dividend policy as the telco giant vowed to deliver “enhanced distributions” for shareholders. The FTSE 100 member declared a final dividend of 5.87p, increasing its full-year dividend by 2 per cent to 8.32p. BT said its new policy would be to “grow the dividend by low to mid single digit percent [...]
As it happened: Stocks jittery as Iran war drags on; Reeves unveil cost-of-living package May 21, 2026 Welcome back to the City AM liveblog. Donald Trump has warned Iran there are two options that could see the US finishing the war in Iran, with one that will “see a few people killed as opposed to a lot”. He added: “We could do it either way.” It’s the latest threat from the White [...]
Curve swings to £9m loss as Lloyds takeover remains incomplete May 20, 2026 Curve has swung to a loss as the Apple Pay rival’s future faces uncertainty ahead of its takeover by Lloyds Banking Group. The digital wallet provider suffered a £9.5m loss in the 2024 financial year, a major drawback from its £3m profit the 12 months prior. The tide turned on Curve’s balance sheet as revenue [...]
As it happened: FTSE 100 rises as oil slips; Analysts warn of ‘short-lived’ inflation drop May 20, 2026 Good morning and welcome back to the City AM liveblog. The City has welcomed news of undershooting inflation this morning, but warning signs already suggest it’s a temporary blip. The Consumer Price Index rose 2.8 per cent in the 12 months to April, that’s under the three per cent pencilled in and a major drop [...]
Tortilla Mexican Grill admits multi-million accounting blunder May 19, 2026 Shares in Tortilla Mexican Grill tumbled in early trade on Tuesday after the firm admitted to a multi-million pound accounting blunder. The AIM-listed business said it identified £2.5m of spending in its French arm which was “not expensed through the profit and loss account,” meaning it previously overstated its profits for 2025 and in doing [...]
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 [...]