UK economy falters as deeper damage to growth to come June 12, 2026 The UK economy lost momentum in April, official data has revealed, as the energy price shock from the Iran war took its toll on businesses and consumers. The Office for National Statistics said GDP declined by 0.1 per cent in April. The services sector contracted by 0.2 per cent while manufacturing output did not post [...]
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 [...]
Reeves aims to lure US workers through tax reform June 11, 2026 Chancellor Rachel Reeves is considering a tax break for US workers by introducing fresh reform, reflecting her drive to lure more wealthy migrants despite a wider crackdown on immigration. The government has launched a consultation on the double taxation for investors who may be based in the UK but who work for US firms that [...]
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 [...]
UK defence chief: Adopt AI or lose future wars June 11, 2026 Britain’s most senior military officer has warned that the UK risks losing future conflicts unless it dramatically accelerates the adoption of AI across its armed forces. Speaking at London Tech Week, chief of the defence staff Air Chief Marshall Sir Richard Knighton said AI would be as transformative for warfare as the internet was for [...]
What should we make of Makerfield? June 11, 2026 Much analysis of the Makerfield by-election focuses on what it means for Keir Starmer and the Labour party’s national fortunes – but how should we assess it on its own terms? Asks Steve Akehurst It can be stated without much hyperbole that when the people of Makerfield go to the polls next week it will [...]
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 [...]
Reform UK vows to raise VAT threshold to £150,000 June 10, 2026 Reform UK has announced it would raise the VAT threshold for small businesses from £90,000 to £150,000 despite long-running debates over the cost and benefits of reforming the tax. Reform announced on Wednesday it would create a “fair deal for the White Van man” by increasing the VAT registration threshold to £150,000. The party said [...]