Bank of England: UK economy risks ‘large and overlapping’ shocks April 1, 2026 The Bank of England has issued a major warning that the financial system is facing increasing risks of “large, frequent and potentially overlapping shocks” amid the volatility from the Middle East war‘ and ongoing market risks’s impact on energy and global markets. In the latest meeting of the central bank’s Financial Policy Committee top officials [...]
Trump tells Starmer to ‘go get your own oil’ March 31, 2026 President Donald Trump has told Sir Keir Starmer that the UK will have to “fight for yourself” as the US would not provide any support in fuel supplies. In another threat targeted at Starmer posted on his own social media platform, the US president mocked the UK’s struggles in obtaining jet fuel because of a [...]
Fuel crisis grounds thousands of flights as Iran war sends oil prices soaring March 31, 2026 Thousands of flights have been cancelled, and more are planned, as global airlines struggle with surging fuel costs in the wake of the war in Iran. According to data by aviation analytics company Cirium, more than one in 20 flights scheduled to take off on Monday were cancelled. Jet fuel, which is generally more expensive [...]
FTSE 100 Live: Stocks inch up; Fuel shortage fears hit airlines; Unilever nears food deal March 31, 2026 Good morning and welcome back to the City AM liveblog. Oil prices are on track for its biggest monthly gain on record for March following the outbreak of war in Iran. It comes as the war in Iran continues to cause ripples through the market, with Brent crude – the international benchmark for oil prices [...]
How high will Starmer let fuel prices climb? March 31, 2026 Petrol station forecourts were gripped by panic buying, industry groups warned of the crippling economic impact, supermarkets began rationing bread and milk, hospitals were cancelling appointments, schools closed, the army was on standby and Labour ministers appeared on the brink of losing control of the country. That was just over 25 years ago, when truckers [...]
Starmer urges Brits to ‘act as normal’ as fuel shortage fears grow March 30, 2026 Sir Keir Starmer has urged Britons to “act as normal” despite energy chiefs’ warning that there could be fuel shortages within days. The Prime Minister’s spokesman said that the UK had a “resilient and diverse” supply of energy sources as he played down the prospect of a fuel crisis. “We will always plan for all [...]
Exclusive: Mordaunt suggests only death of Brits would get UK to ‘wake up’ on defence March 30, 2026 Former defence secretary Penny Mordaunt has suggested that only the death of serving British soldiers would get the Prime Minister to “wake up” and fund extra defence spending. In an interview with City AM, the senior Tory figure said the current government’s spending plans for defence were “out of kilter” with reality given immediate threats [...]
Why high oil prices could plunge world into recession by the summer March 30, 2026 The world economy is heading for a “rare” recession in the middle of this year as a prolonged war seems likely amid the prospect of US troops heading to the Middle East. Economists have warned that activity will fall in the middle of the year if oil prices surge to $150 per barrel and remain [...]
Top energy and City bosses called for summit with Starmer as oil surges March 29, 2026 A number of senior leaders from the likes of HSBC, Goldman Sachs and Shell will meet with Prime Minister Sir Keir Starmer on Monday as the government scrambles to help ease the unfolding energy crisis from the war in Iran. Top officials from the energy, finance and logistics sectors will attend the roundtable on Monday, [...]
Reeves and Miliband to call on G7 to follow UK’s energy lead March 29, 2026 Rachel Reeves is set to call on fellow G7 nations to follow the UK’s lead in the transition to renewable and nuclear power as the unfolding energy crisis ripples through global economies. The Chancellor is expected to urge G7 partners to commit to long-term energy security as she meets fellow finance ministers, energy ministers and [...]