As it happened: FTSE 100 rises as easing Iran tensions offset GDP blow; SpaceX set for blast off June 12, 2026 Welcome back to the City AM liveblog. Global equity investors are bracing for Musk’s record-breaking market debut SpaceX is set to begin trading on Nasdaq today after Elon Musk’s rocket, satellite and AI empire pulled off the largest IPO in market history. The company raised $75bn after pricing shares at $135, giving it a $1.77 [...]
Oil prices rise as Trump warns of ‘very hard’ strikes against Iran June 11, 2026 President Trump has escalated his threats against the Iranian regime, announcing on social media that the US will hit Iran “very hard” tonight if a peace deal cannot be reached. In a post on his Truth Social platform, the US President suggested that American forces could take Kharg Island, a crucial oil export artery for [...]
Burnham rows back on £10bn Waspi women offer June 11, 2026 Andy Burnham has rowed back on an apparent offer to consider a £10.5bn payout for Waspi women, a group of female pensioners who argue that they were not told about a rise in the state pension age. Burnham had told activists that he would “stick by the Waspi women – Women Against State Pension Inequality [...]
Burnham hints at payout for Waspi women claiming billions June 11, 2026 Andy Burnham has suggested he would support more than 3.5m women who are seeking compensation, hinting at a billions of pounds spending commitment if he enters Downing Street. The Makerfield by-election candidate has long been an outspoken supporter for the so-called Waspi women, a cohort born in the 1950s who claim they lost thousands of [...]
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 [...]
Starmer dodges questions on funding for defence spending June 10, 2026 Sir Keir Starmer dodged several questions over funding for an uplift in defence spending as he appeared to suggest that the full defence investment plan will take weeks to be published. Starmer refused to confirm the publication date for a 10-year blueprint on defence spending as he stuck to a commitment that it would be [...]
More than 80 retail bosses urge Starmer to tackle youth unemployment crisis June 10, 2026 More than 80 retail bosses have called on the Prime Minister to set out urgent measures to tackle youth unemployment, warning that the “ladder of opportunity for young people is wobbling”. The chiefs of leading retailers including Tesco, Sainsbury’s and John Lewis have called on Sir Keir Starmer to safeguard the position of retail as [...]
As it happened: FTSE 100 see-saws amid global jitters as market outlook turns ‘risky and dangerous’ June 10, 2026 Good morning and welcome back to the City AM liveblog. Markets were not getting too excited at the beginning of this week when Donald Trump said a peace deal with Iran was “very close”. And last night’s exchange of strikes might explain why. The US has said it completed a series of strikes against Iran [...]
Starmer: X is responsible for fake Farage and Bailey fight images June 9, 2026 Sir Keir Starmer has said tech firms must take responsibility for fake images depicting a brawl between Nigel Farage and Bank of England governor Andrew Bailey. Multiple AI-generated images of Farage and Bailey fighting have been spread on X, with the links appearing to lead to a scam. The Prime Minister’s spokesman said “there is [...]
‘Course correction’: UK economy to contract as ‘energy shock catches up’ June 9, 2026 The UK economy is expected to contract despite a boost at the start of the year, with economists warning that the war in Iran’s energy price shock will now show up in fresh data. Economists believe that the UK economy declined by 0.1 per cent in April. Official figures will be published on Friday. The [...]