Bank of England set to overshadow Healey’s Budget with interest rate hike Economics The Bank of England is expected to overshadow John Healey’s maiden Budget with a “done deal” interest rate hike aiming to tame soaring inflation while risking economic growth. Top City economists predict the central bank’s Monetary Policy Committee (MPC) will raise the base rate at its November meeting, just one week after the Autumn Budget. [...]
Healey’s ‘mixed messages’ on bank tax leave City blindsided Economics The City was left reeling on Friday following reports that John Healey was drawing up plans to tax banks in the forthcoming Budget. Industry heavyweights across the UK have fired warning shots as Healey weighs up different options to target the banking industry with a hefty cash raid. One City figure told City AM a [...]
British retail sales defy forecasts with surprise August rise Retail UK retail sales unexpectedly rose in August, defying forecasts of a decline. Despite renewed pressure from higher fuel prices, hot weather drove a strong rebound in both online shopping and department store sales. Economists had expected sales to fall 0.2 per cent but sales volumes rose 0.5 per cent during the month, reversing a 0.5 [...]
‘Calm before the storm’: City warns Healey growth spurt won’t last September 11, 2026 The UK economy’s surprise summer growth spurt is set to be “blown away” by a spike in energy prices and a recent surge in the cost of borrowing, economists have warned the government. Fresh figures revealed on Friday that the economy expanded 0.4 per cent in July, ahead of initial forecasts that predicted flat growth. [...]
UK at risk of £290bn finance industry ‘being governed overseas’ September 8, 2026 The UK is at risk of its booming financial services industry being governed overseas after lagging behind international rivals in digital asset innovation, a new report has warned. Banking industry body UK Finance has issued a rallying call to policymakers to move at pace in developing the infrastructure to power tokenisation, or see the country [...]
UK jobs seekers rise despite recovery in permanent hiring September 7, 2026 Rising redundancies and heightened employment insecurity drove a sharp increase in UK job seekers in August despite the permanent hiring market showing its first signs of recovery in nearly four years. Total staff availability rose at its fastest rate in three months as Brits hunting for roles flooded the market. This influx was triggered by [...]
Oil price climbs above $90 as Iran says US diplomacy ‘isn’t possible’ August 31, 2026 The price of oil is creeping higher after the US launched strikes at Iranian rocket launchers that were reportedly preparing to lay mines in the Strait of Hormuz. Brent crude – the international benchmark for oil prices – climbed towards $91 per barrel after strikes from the US marked the first exchange of fire in [...]
As it happened: FTSE 100 rallies after JD Sports drags on blue chips; oil jumps again August 20, 2026 Welcome back to the City AM liveblog. The FTSE 100 has slipped to a week low on Thursday, as JD Sports dragged on the index after warning on profit. The blue-chip index fell to 10,693 around midday, marking a 0.46 per cent drop on Wednesday’s close and a 0.7 per cent fall in the week [...]
As it happened: Stocks jittery as oil nears $90; Trump ‘semi-negotiating’ with Iran August 11, 2026 Welcome back to the City AM liveblog. Oil prices are marching higher for the fourth consecutive session, supported by new uncertainty between the US and Iran and continued agitation over the reopening of the Strait of Hormuz. Brent crude – the international benchmark for oil prices – was holding above $87 per barrel on Tuesday [...]
Four charts revealing scale of Andy Burnham’s economic challenge July 21, 2026 Andy Burnham has harboured ambitions to be Prime Minister for over a decade. But the economy he is inheriting will take the shine off his lofty hopes – just look at these four charts. As he stepped out onto Downing Street for the first time as Prime Minster, Andy Burnham allowed himself to break out [...]