As it happened: Stocks jump on defence and metals boost; Oil on track to shed a fifth on US-Iran peace hopes June 30, 2026 Welcome back to the City AM liveblog. Oil’s speed of decline has taken a hit this week as investors were forced to pause at the renewal of strike action between the US and Iran. Brent crude – the international benchmark for oil prices – was steadying above $73 per barrel, holding onto some of the [...]
Starmer to unveil hotly debated Defence Investment Plan in final act June 29, 2026 Sir Keir Starmer will unveil the highly-anticipated Defence Investment Plan in one of his final acts as Prime Minister. Starmer will publish full funding plans for the Defence Investment Plan (Dip), the government’s 10-year blueprint for armed forces, on Tuesday. He will say that more than £5bn over four years will be invested into drones, [...]
Healey condemns Reeves: ‘Our adversaries do not follow timetables set by the Treasury’ June 16, 2026 John Healey has delivered a stinging criticism of Rachel Reeves’ handling of defence spending, warning that the UK’s enemies “do not follow timetables set by the Treasury”. In his resignation speech in parliament, the former defence secretary took aim at Sir Keir Starmer and Reeves for failing to fully fund the Defence Investment Plan (DIP), [...]
Truth bomb: Defence secretary John Healey resigns over funding battles June 11, 2026 John Healey has resigned as defence secretary after months of tension with Sir Keir Starmer over funding for an uplift in spending on the armed forces. In a letter to the Prime Minister, Healey said the government’s draft for the Defence Investment Plan (DIP) “falls well short of what is required for defence and the [...]
UK defence chief: Adopt AI or lose future wars June 11, 2026 Britain’s most senior military officer has warned that the UK risks losing future conflicts unless it dramatically accelerates the adoption of AI across its armed forces. Speaking at London Tech Week, chief of the defence staff Air Chief Marshall Sir Richard Knighton said AI would be as transformative for warfare as the internet was for [...]
One in three defence firms ‘can’t find graduates to hire’ June 11, 2026 Nearly one in three defence firms can’t find graduates to hire despite a youth unemployment crisis, a new report has found, as universities have been urged to work more closely with businesses. Research by the University of Manchester and CBI Economics has suggested that skills shortages among young people has made it more difficult for [...]
Banks call for ‘political mandate’ to bolster European defence June 8, 2026 The banking industry has issued a rallying call for a “political mandate” from the UK and EU in a bid to get regulators to open the taps to a fresh flood of defence financing. A new report from UK Finance – which represents the nation’s financial services giants from Lloyds to Revolut – has called [...]
Defence spending plan delay undermines UK credibility, MPs say June 7, 2026 The delay in publishing Keir Starmer’s long-awaited plan on defence spending has undermined the UK’s credibility and left the country less safe, a parliamentary committee has warned. In a new report critisising the long delay in publishing Starmer’s Defence Investment Plan (DIP), the Public Accounts Committee said this “has undermined the UK government’s credibility with [...]
NATO military chief presses UK to accelerate defence pledges May 31, 2026 Nato’s military chief has urged Britain and other allies to speed up the delivery of their defence pledges. Admiral Giuseppe Cavo Dragone, Nato’s military committee chair, said he is “frustrated” by the UK and its allies’ commitments to spend on defence which he said do not stand if there is no equipment to show for [...]
Top spook says Russia ‘relentlessly targeting’ UK infrastructure May 27, 2026 One of Britain’s top spooks is set to warn that Russia is “relentlessly targeting” the country’s critical infrastructure as businesses have been urged to take action on cyber security. GCHQ director Anne Keast-Butler will deliver a speech on Wednesday where she will warn the public about cyberattacks by Russia and other hostile actors targeting the [...]