Former Southern Water boss charged with conspiracy to defraud Law The former boss of Southern Water is among four of the water firm’s ex-employees set to face criminal proceedings for conspiracy to defraud. The Environment Agency (EA) alleges that between January 2012 and December 2017 Matthew Wright helped manipulate the operator self-monitoring testing regime by implementing “artificial no-flow events” at wastewater treatment works. The government [...]
As it happened: John Healey named Chancellor as Burnham shakes-up cabinet Politics Welcome back to the City AM liveblog. Andy Burnham has become the UK’s newest Prime Minister, succeeding Sir Keir Starmer just two years after his landslide win at the 2024 general election. Starmer visited the King this morning to give him his resignation. In his farewell speech outside Number 10, the outgoing Prime Minister said [...]
Energy minister says AI must ‘bring down bills’ as data centres squeeze the grid Tech Power-hungry data centres must help bring down bills rather than place further strain on Britain’s squeezed electricity network, the energy minister has said. Michael Shanks warned public support could drop for the rapid expansion of AI infrastructure unless households saw a clear economic benefit. “We need to deliver energy security here at home, but we [...]
Industry bodies call on Burnham to bring down energy bills to fire up growth July 14, 2026 Andy Burnham’s government must slash green levies on companies’ energy bills and bring forward support for energy-intensive industries if it wants to fire up Britain’s economy and win over a sceptical private sector, two of Britain’s largest industry bodies have said. In a joint report published today, the CBI and Energy UK called on the [...]
Grid delays force Starmer-backed AI data centre to seek alternative power July 13, 2026 One of the UK’s flagship AI infrastructure projects is being forced to source its own energy supplies after discovering it would not be granted grid connection in time for its eagerly anticipated opening. Nscale, the British AI unicorn backed by Nvidia, is now looking beyond conventional electricity connections for its flagship £2bn data centre in [...]
Europe has made a ‘major mistake’ on slow electrification, IEA chief warns July 11, 2026 The head of the International Energy Agency has warned Europe made a “major mistake” by failing to end its economy reliance on imported fossil fuels quickly enough since the 2022 energy crunch. Fatih Birol said Europe’s low electrification rate, electricity’s share of the energy consumed in the EU, of roughly 23 per cent is holding [...]
Sizewell B granted 20-year life extension July 8, 2026 The government has granted the Sizewell B nuclear power plant a 20-year lifetime extension, meaning it will now continue to generate electricity until 2055. Majority-owner EDF and investor Centrica said they had agreed terms with the Department of Energy Security and Net Zero, in a deal that will see its owners paid considerably less for [...]
Kemi Badenoch: AI firms ‘won’t come here’ if Britain overregulates July 7, 2026 Kemi Badenoch has warned Britain risks driving away the next generation of AI giants unless it lowers industrial energy costs or fixes London’s capital markets, arguing the UK cannot regulate its way to becoming a global tech leader. Speaking at the Politics UK Summit in Westminster on Monday evening, the Conservative leader said Britain was [...]
As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions July 7, 2026 Welcome back to the City AM liveblog. Donald Trump warned the US will “finish the job” in Iran leaving investors unnerved as he renewed military threats following the funeral of Tehran’s former Supreme Leader Ayatollah Ali Khamenei. Brent crude – the international benchmark for oil – traded above $72 per barrel on the news, but [...]
As it happened: Stocks slide despite tech and data boost; Oil falls after OPEC+ ups output July 6, 2026 Welcome back to the City AM liveblog. Markets are dealing with a double dose of pressures to start of the new week as investors brace for a crucial earnings season in the artificial sector, whilst an increase of supply on the oil market weighs on prices. Over in Asia, stock markets slipped following a week [...]