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 [...]
‘Budget hasn’t worked’: Reeves defends China trip as Stride says Brits ‘deserve better’ January 14, 2025 Rachel Reeves has defended her trip to China amid economic turmoil in the UK as MPs argued her Budget “hasn’t worked” and insisted: “The British people deserve better.” The Chancellor appeared in the House of Commons for the first time since last week’s bond market shock threw her public spending plans and fiscal rules into [...]
‘Nothing off the table’: Public spending cuts to be ‘ruthless’, cabinet warned January 13, 2025 Public spending cuts are set to be “ruthless”, the Treasury has reportedly warned cabinet ministers. Departments will have to make “difficult” decisions on their budget priorities, according to an internal letter from No11 about the spending review, the Telegraph reported. While the Prime Minister’s official spokesman confirmed “there’s nothing off the table when it comes [...]
Starmer declines to confirm Reeves will be Chancellor at next election January 13, 2025 Sir Keir Starmer has declined to confirm that Rachel Reeves will be Chancellor at the next general election. The Prime Minister was asked about Reeves’ role following a speech in London on artificial intelligence (AI) and insisted he was “completely confident” in her. However, he declined to guarantee she would still be in post at [...]
Starmer positions the UK as a trailblazer in AI innovation January 13, 2025 Keir Starmer has thrown the weight of Whitehall behind AI in a bid to boost growth and position the UK as a world leader in the sector. On Monday morning, Keir Starmer revealed the UK’s ‘AI Opportunities Action Plan’, a transformative strategy to establish the UK as a global leader in AI. He said: “The [...]