UK retail sales plunged in December as Budget fallout spread January 17, 2025 UK retail sales dropped during December, despite expectations of a Christmas bounce as consumers pulled back on spending. In a worrying sign for the economy, retail sales fell 0.3 per cent in December. Analysts had pencilled in growth of 0.4 per cent. November’s retail sales growth was also revised down by the Office for National [...]
Chinese embassy: ‘Alarm bells’ over security fears for London mega-site January 16, 2025 MPs have warned of “serious alarm bells” for the UK’s security over reports senior cabinet ministers have intervened on a Chinese planning application for a huge new London embassy. Foreign secretary David Lammy, who visited China last year, and home secretary Yvette Cooper have indicated their support for the proposed new 20,000 square metre mega-site [...]
No need for City minister to recuse herself over past lobbying, No10 says January 16, 2025 There is no need for new City minister Emma Reynolds to recuse herself from any duties because of her lobbying past, Downing Street has said. The Wycombe MP has taken over the Treasury minister role from Tulip Siddiq, who stepped down over allegations linked to her aunt’s political movement in Bangladesh. Questions had been raised [...]
Former BBC Dragons’ Den star backs UK AI action plan January 16, 2025 Former Dragon’s Den investor Piers Linney has backed the UK’s recently announced ‘AI Opportunities Action Plan’, calling it a necessary step to position Britain as a global hub for the technology. The government’s plan, announced by Keir Starmer on Monday but developed under the leadership of tech entrepreneur Matt Clifford, set out a strategy to [...]
Malaysian firm YTL to invest £4bn in UK and former Concorde development January 15, 2025 The Malaysian firm YTL has announced plans to invest £4bn in its UK businesses and a brownfield housing development in Bristol at the site of the former Concorde hangars. The firm will spend £2bn on redeveloping the former Filton airfield in South Gloucestershire into an arena and housing development north of Bristol, the UK government [...]
No 10 won’t confirm new City Minister’s role in China policy January 15, 2025 Downing Street has declined to confirm whether new City minister Emma Reynolds will be able to make decisions about the UK’s relationship with China. She was appointed to the post of economic secretary to the Treasury yesterday, after Tulip Siddiq resigned over allegations of corruption linked to the former government in Bangladesh. Bloomberg reported that [...]
PMQs: Starmer insists Reeves will be Chancellor for ‘many years to come’ January 15, 2025 Sir Keir Starmer has insisted Rachel Reeves will be Chancellor for “many years to come” as Kemi Badenoch lambasted her for losing the confidence of the markets. During Prime Minister’s Questions in the House of Commons, the Conservative leader hit out at Reeves, arguing: “The Prime Minister claims he has full confidence in the Chancellor, [...]
AI can slash government red tape – unless red tape gets in its way January 15, 2025 The Prime Minister has said he wants to “go for it” with AI, so let’s get these tools into the hands of frontline workers, get them out from behind their desks and save taxpayers money, says Alex Stephany The Prime Minister was right to give a stark warning on AI to the public sector this [...]
Tulip mania was only ever going to end one way January 15, 2025 Yesterday, I asked whether Tulip Siddiq would still be the City minister by the end of the day, and just as the sun went down we got an answer: nope. Here in the City AM newsroom we shall miss the standing agenda item in our editorial meetings, checking the latest twist of an international corruption [...]
Tulip Siddiq resigns as City minister January 14, 2025 Tulip Siddiq has resigned as City minister, Downing Street has confirmed, amid allegations over her links to the former government in Bangladesh. The Labour MP for Hampstead and Highgate wrote to the Prime Minister Sir Keir Starmer to say that while she had “not breached the ministerial code” continuing in her role as a Treasury [...]