John Healey returns to a City that has outgrown his mid-2000s rulebook July 29, 2026 As Chancellor John Healey returns to the Treasury, he must recognise that the City’s competitive landscape has fundamentally shifted from the exchange-focused concerns of the mid-2000s toward a modern model where investment banks increasingly rely on shared, industrialised infrastructure, says Joe Channer As John Healey arrives at the Treasury – this time, to everyone’s surprise, [...]
As it happened: Stocks jump as oil drops; Unilever shares soar on decade-best sales July 28, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday and the UK’s blue-chip index has made strong gains following a peaky start to the day. The markets took a boost yesterday after oil dropped back after reaching two-month highs of more than $100 per barrel last week when the Iran backed-Houthis took responsibility for tanker [...]
Burnham and Healey face investor fury over summer of tax speculation July 27, 2026 Andy Burnham and John Healey are contending with a growing backlash from investors after another summer of tax speculation looks set to leave financial managers on edge. The chief executive of one of the UK’s biggest investment platforms, AJ Bell, urged Chancellor Healey to take a more emphatic approach on ruling out tax hikes across [...]
AI, drones and data: Defence giants splash record $4.1bn on tech start-ups July 27, 2026 Investment in defence tech start-ups has reached a record high this year as the world’s biggest arms companies step up spending on new military technology. New figures from Dealroom show defence contractors including BAE Systems, Lockheed Martin and Airbus have participated in $4.1bn (£3bn) of venture capital funding rounds so far this year, the highest [...]
Burnham vows to ‘get serious’ about slashing welfare bill July 27, 2026 Andy Burnham has vowed that he will “get serious” about slashing the welfare bill, as the Prime Minister hunts savings to boost defence spending. “We’ve got to get really serious as a country [about] getting the welfare bill down,” Burnham told the BBC in his first full interview since becoming Prime Minister last week. He [...]
Burnham ‘aware’ of Healey’s extra £9bn spending demands July 26, 2026 Andy Burnham has said he was “very aware” of John Healey’s demand to spend at least £9bn more a year on defence when he appointed him as Chancellor. The Prime Minister has said he would ensure Sir Keir Starmer’s Defence Investment Plan (Dip) was “fully funded” in an interview with the BBC as his “first [...]
A beginner’s guide to appeasing the bond market – and why it matters July 24, 2026 Britain’s enormous debt pile means the bond market now has the power to decide the fate of a government. Ali Lyon spoke to gilt investors to see how our new Chancellor can keep them happy. When John Healey was last in the Treasury, the world was a very different place. Britain’s economy was growing at [...]
Healey: Squeezed businesses also need ‘breathing space’ July 23, 2026 Chancellor John Healey has said he is “just as concerned” by costs facing businesses as those facing households, adding that bosses also required “breathing space” to manage burdens from energy, labour and supply chains. Echoing Andy Burnham’s pledge to provide “breathing space” on the cost of living, Healey said he would aim to ease cost [...]
Will Burnham take the pressure off business? Don’t bank on it July 23, 2026 Andy Burnham’s big ambitions come with a big price tag. Our analysis shows a £22bn black hole of unfunded commitments, including the costs of honouring decisions announced in the dying days of Keir Starmer’s government, such as NHS pay rises and the Defence Investment Plan. If you add in the new PM’s other great ideas, [...]
Business will be the judge on whether Andy Burnham can “regain stability” July 23, 2026 If Andy Burnham is serious about being a friend to business he should commit to no new business taxes, says Alan Vallance When every new government begins – and there have been a few in recent years – the goodwill they start with is already a diminishing return. Businesses understand that no Prime Minister can [...]