‘Taxed to a standstill’ – UK economy grinds to a halt with no growth in January March 13, 2026 The UK economy saw zero growth in the first month of the year – before global markets were rocked by the outbreak of war in the Middle East. Fresh figures from the Office for National Statistics (ONS) have handed a major blow to Rachel Reeves with the economy flat in January, compared to the 0.2 [...]
The end of the tax year is approaching: Here are the key allowances to use March 12, 2026 The end of the tax year is fast approaching with April 5 just weeks away. Many people will be awaiting the opportunity to renew their ISAs to manage their tax bill, but others will be prioritising making the use of key tax allowances. Many of these allowances cannot be carried forward into the new tax [...]
Oil surges again as industry faces ‘largest disruption in history of the market’ March 12, 2026 The global energy body has warned the current oil crisis triggered by the war in the Middle East marks the “largest disruption” in history of the commodity’s market. The International Energy Agency (IEA) made a record intervention in the market on Wednesday, with the release of 400m barrels from the strategic reserves. But the move [...]
John Lewis boss: Labour must keep pledge to reform business rates March 12, 2026 Labour must honour its manifesto promise to fundamentally reform the business rates system, John Lewis boss Jason Tarry has said. The retail chairman said the changes at last year’s Budget were positive for retail but offered a “short-term” fix to a system which unfairly disadvantages physical retailers as opposed to online shops. Chancellor Rachel Reeves [...]
Middle East war ‘could plunge UK into a recession’ March 12, 2026 The crisis in the Middle East could plunge the UK into a recession in the worst case scenario where oil prices surge higher over the next two months, analysis has shown. Oxford Economics research has indicated that a continued surge in oil prices would rattle “parts of the global economy”, with the UK set to [...]
M&G continues road to recovery as net inflows rise March 12, 2026 M&G reported a reserve to outflows in its latest annual results after a return to growth in its Life business and asset management gained momentum. The investment manager reported net inflows of £7.8bn in the last financial year, up from net outflows of £1.9bn the prior year, which the company pinned on “challenging market conditions” [...]
FTSE 100 Live: Stocks drop as oil returns to near $100 after tankers attacked March 12, 2026 Good morning and welcome back to the City AM liveblog. The price of oil shot back above triple digits this morning, rising as much as nine per cent in Asian trading following the news two tankers were struck in the Gulf. An Iraqi news agency broke the news that 38 crew members have been rescued [...]
Revolut is now a bank. Raise a glass to this stellar British success story March 11, 2026 It has been a painfully long wait for Revolut. But at last, the patience of Europe’s most valuable fintech has paid off. Its British banking licence has arrived. This is the final step in Revolut’s decade-long journey to become a fully-fledged bank. That means it is no longer – by any yardstick – a startup. [...]
Fuel duty rise ‘under review’ as Iran war response sparks tensions March 11, 2026 Sir Keir Starmer has said a rise in fuel scheduled for September is “under review” hours after Rachel Reeves hinted an energy support package could be drawn up. Starmer said fuel duty would remain frozen until September and the policy would be kept “under review in light of what’s happening in Iran” when he was [...]
UK economic rebound to be short-lived as Iran war shock looms March 11, 2026 The UK economy is predicted to have seen modest growth at the start of the year while the labour market appeared to be easing and interest rates were very much on a downward path. Forecasters agreed the outlook for the UK economy looked reasonably promising, if not exciting. That was until President Trump spoiled the [...]