US Supreme Court rules Trump’s ‘Liberation Day’ tariffs were illegal February 20, 2026 The US Supreme Court has handed down a landmark ruling that the sweeping tariffs President Donald Trump imposed on trading partners last year were illegal. Justices were weighing up a case centred around the Emergency Economic Powers Act that allows a President to regulate imports during a national emergency. The White House had argued the [...]
Private sector axes more jobs amid Reeves’ tax and wage pressures February 20, 2026 The UK’s private sectors culled jobs for the seventeenth consecutive month in February led by a significant drop in the services sector as businesses were still digesting the impact of Labour’s 2024 Autumn Budget. The latest flash Purchasing Managers Index (PMI) from S&P Global described the rate of job shedding in February as at a [...]
Reeves lands £30bn reprieve ahead of Spring Statement February 20, 2026 Rachel Reeves has secured a record-breaking borrowing reprieve in fresh data that comes ahead of the Chancellor delivering her Spring Statement in March. The Treasury has been handed a surplus of £30.4bn in January, new figures from the Office for National Statistics (ONS) show, after a surge in tax receipts. The figure is £15.9bn higher [...]
Antonia Romeo appointed civil service boss February 19, 2026 Sir Keir Starmer has appointed Dame Antonia Romeo to be the first female cabinet secretary to lead the civil service, as part of a reshuffle of the government’s top team. The new civil service chief is currently the most senior civil servant at the Home Office, and was a leading contender for the role when [...]
Andrew Mountbatten-Windsor arrested on suspicion of misconduct February 19, 2026 Andrew Mountbatten-Windsor has been arrested on suspicion of misconduct in a public office, the BBC has reported. It comes after increasing pressure on the former Prince after Prime Minister Sir Keir Starmer this morning said “nobody was under the law”. Police were understood to be weighing up allegations that convicted sex offender Jeffrey Epstein had [...]
Rachel Reeves warned ‘dysfunctional’ fiscal rules are hammering economy February 19, 2026 Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was “watching the speedometer” while ignoring other conditions. The Chancellor is facing calls to scrap the self-imposed fiscal rules that prevent her from borrowing to pay for day-to-day spending and [...]
Starmer sticks to youth minimum wage pledge despite jobs fears February 18, 2026 The government will stick to the Labour party’s manifesto commitment to equalise the minimum wage despite speculation it would row back on the pledge over unemployment fears, the Prime Minister has said. Speaking on Wednesday, Sir Keir Starmer said: “We’ve made commitments to young people in our manifesto, and we will keep to those commitments, [...]
Carmakers to skirt a crash in £11bn motor finance redress February 18, 2026 UK carmakers are set to curb a hefty hit in the City regulator’s forthcoming redress scheme for the motor finance scandal. Captive lenders, in-house lenders of manufacturers, are to be granted some reprieve by the Financial Conduct Authority (FCA) after relentless lobbying that the scheme could hamper investment in the UK. The FCA was forced [...]
Inflation eases to three per cent boosting interest rate cut hopes February 18, 2026 Inflation fell to its lowest level in nearly a year last month, new figures show, giving a further boost to hopes that the Bank of England will cut interest rates in March. The headline rate dipped to 3.0 per cent in January, according to the Office for National Statistics (ONS), down from 3.4 per cent [...]
FTSE 100 Live: Inflation falls to near year-low; BAE leads stock rally February 18, 2026 Good morning and welcome back to the City AM liveblog. Inflation has fallen to a near year-low this morning hitting its slowest pace since March and fuelling hopes that the Bank of England will take the chop to interest rates next month. New data from the Official for National Statistics showed rose the Consumer Price [...]