‘Why single out banks?’: Santander chief hits out at UK tax regime June 8, 2026 The boss of Santander has branded the UK’s tax regime on banks as making “no economic sense” as speculation mounts that the industry could be turned to for a quick cash grab if the Labour government lurches to the left. Ana Botín, the chief executive of the Spanish banking giant, has said the UK tax [...]
As it happened: Stocks and oil recover as Iran declares end to strikes; tech rally rocks markets June 8, 2026 Good morning and welcome back to the City AM liveblog. The FTSE 100 edged into the green on Monday lunchtime and US futures pointed to gains, as the markets looked to claw back early jitters caused by fresh Middle East strikes and a tech stock sell-off. An exchange of fire from Iran and Israel left [...]
Food inflation: First signs of energy cost surge feed through to supermarket shelves as discounts fail to stem price growth June 8, 2026 Supermarket food inflation has risen significantly for the first time this year, a City AM analysis has found, flashing an early warning sign that the surge in energy and freight costs triggered by war in Iran is reaching shelf prices in the UK. City AM reporters gather data on around 200 prices of products across [...]
Jobs slump as economy ‘held up by uncertainty’ June 8, 2026 The UK jobs market has been handed another blow as businesses ditch permanent hires as the economy battles against domestic and international uncertainty. The latest jobs report from KPMG and REC, the professional body for recruiters, showed hiring for permanent places dropped to a reading of 44.1 in May, which sits below the neutral 50 [...]
Starmer scrambles to make savings in bid to boost defence spending June 7, 2026 Keir Starmer is planning on making cuts across the government in a bid to fund his long awaited Defence Investment Plan. The prime minister will make targeted slashes to transport and net zero spending by 1 per cent in a bid to raise approximately £6bn for defence costs by the end of this parliament. Starmer [...]
Peter Kyle vows state will take bigger stakes in Britain’s next tech giants June 6, 2026 The government is preparing to take larger stakes in Britain’s fastest-growing companies as Peter Kyle ramps up Labour’s efforts to turn the state into a more active backer of private enterprise. Ahead of London Tech Week, the business secretary said ministers would become more willing to deploy taxpayer money alongside private investors, arguing that government [...]
Starmer urged to press ahead with under-16 social media ban as decision nears June 6, 2026 Keir Starmer has been urged to press ahead with a social media ban for under-16s after a group of leading doctors warned ministers not to mistake early attempts by children to bypass restrictions as evidence that such policies do not work. The intervention comes as the government prepares to decide whether Britain will introduce some [...]
Starmer weighs cut to EU student fees in bid for Brexit reset June 6, 2026 Keir Starmer is considering cutting university fees for European students as part of a broader package designed to deepen Britain’s economic ties with the EU, in what could become one of the most politically sensitive concessions of his post-Brexit reset. Ministers are weighing whether to lower tuition costs for EU students attending British universities as [...]
Burnham vows to cut the price of a pint as he turns on Labour tax rises June 6, 2026 Andy Burnham has launched a major policy intervention of the Makerfield by-election campaign with a pledge to cut business rates for pubs and ease the tax burden on small businesses, marking a clear break with Keir Starmer’s government. The Greater Manchester mayor said Labour had “got it wrong” on small businesses as he unveiled plans [...]
William Hill owner Evoke shares rocket as it braces for £243m takeover from Bally’s Intralot June 5, 2026 Betting group Evoke shares rocketed in early morning trading, after gambling firm Bally’s Intralot on the terms and conditions for a takeover, as UK businesses brace for an online gambling tax hike. Shares soared 16.2 per cent to 46.4 pence per share, with shares up 24.2 per cent since January. The Greek company’s board has [...]