FTSE 100 Live: Starmer unease rattles markets; Big tech sell-off February 6, 2026 Good morning and welcome back to the City AM liveblog. Speculation over Keir Starmer’s future has unleashed a fresh round of market unease as investors dumped the pound, UK equities and long-dated government bonds amid rising political uncertainty. The gulf in price between the UK’s short- and long-term debt – known as the yield curve – reached [...]
Majority of landlords to hike rent due to Reeves’ tax raid February 6, 2026 The majority of landlords increasing rents blamed Rachel Reeves’ new tax on property income from April next year, a survey has shown. According to the National Residential Landlords Association (NRLA), two thirds of landlords (65 per cent) raising prices over the next year cited the government’s plans to charge a two percentage point tax rate [...]
Mandelson car crash shows Starmer’s Labour has no ideology, only in-fighting February 5, 2026 Peter Mandelson was given the job because he’s from the right faction of the Labour party. Keir Starmer’s government doesn’t believe in anything except fighting itself, says John McTernan Politics is – at its best – a battle of ideas. Successful politicians need to be able to fight and think at the same time. Peter [...]
The Mandelson Epstein scandal: Squalid, brazen and outrageous February 5, 2026 Sex, money, power and influence. Peter Mandelson, once a towering figure in Labour, in the government and in the City, has fallen. He is now the subject of a police investigation into allegations of misconduct in public office after thousands of emails contained in the latest Epstein files released by the US Department of Justice [...]
UK construction ‘exits tailspin’ but job losses persist as housebuilding slumps February 5, 2026 The UK’s struggling construction sector showed signs it was turning a corner at the beginning of the year even as job losses and shrinking order books persisted. The latest construction Purchasing Manager’s Index (PMI) from S&P Global – which serves as a headline index tracking industry activity – edged up to 46.4, up from 40.1 [...]
Starmer’s faith in Mandelson was a catastrophic error of judgement February 5, 2026 If Keir Starmer had hoped that his own indignation, doubtless sincerely felt, would put distance between Downing Street and the Peter Mandelson scandal, he was mistaken. Amid dramatic and at times chaotic scenes in the House of Commons yesterday, the Prime Minister was forced into a humiliating u-turn as opposition and Labour MPs united to [...]
Starmer’s authority in doubt as Labour MPs vent fury over Mandelson February 5, 2026 Sir Keir Starmer was under mounting pressure last night after he admitted he had been warned about Peter Mandelson’s relationship with Jeffrey Epstein prior to appointing him as ambassador to Washington. Starmer’s attempts to handle the release of files relating to Mandelson’s vetting process were then thwarted by furious Labour backbenchers demanding independent scrutiny of [...]
‘Look out for rich individuals’: The deep ties between Mandelson lobbying firm and Epstein February 5, 2026 As one of London’s many eminent lobbying and advisory outfits, Peter Mandelson’s Global Counsel is well versed in what it takes to manage a reputation. Set up by the former deputy Prime Minister and Labour spin doctor Benjamin Wegg-Prosser from the embers of Labour’s 2010 general election loss, it has worked on some of the [...]
Nuclear deterrent strategy ‘no longer fit for purpose’ February 5, 2026 The UK’s nuclear deterrent strategy is outdated and a lack of expertise has left the country with an “awful lot of ground to make up”, a report backed by the former head of the civil service has warned. Lord Simon Case, who was cabinet secretary until shortly after Labour returned to government, has joined academics [...]
Payments watchdog won’t be abolished ‘any earlier than 2027’ February 4, 2026 The boss of the payments watchdog has said he doesn’t expect the regulator to be officially abolished any earlier than the first quarter of 2027 as criticism grows over the slow progress of reforms in the sector. David Geale, managing director at the Payment Systems Regulator (PSR), said he had “not seen the outcome” of [...]