Gordon Brown returns to government as Starmer shrugs off resignation calls May 9, 2026 Former Prime Minister Gordon Brown has returned to government in a new role as Sir Keir Starmer has scrambled to save his premiership amid discontent among Labour MPs. Brown will serve as the government’s special envoy for global finance. He will likely be tasked with sorting finance for defence ahead of the publication of the [...]
Brent Hoberman: We need a ‘British dream’ – and more talented immigrants May 7, 2026 The UK needs to welcome many more business founders from abroad to rejuvenate the economy, one of Britain’s best-known entrepreneurs has said, as he issued a rallying cry to renew faith in the future of the country. In a wide-ranging speech at the City AM Awards ceremony at the Guildhall last night, Brent Hoberman, who [...]
FTSE 100 Live: Stocks down on election day; oil back below $100 as Iran deal hangs in balance May 7, 2026 Good morning and welcome back to the City AM liveblog. It’s local election day in the UK and Keir Starmer’s premiership is hanging in the balance as his Labour Party prepares to take a drubbing in council boroughs across the country. Gilt yields rose at their fastest rate earlier this week as the market prepares [...]
Local elections 2026: City awaits ‘significant’ event for Labour leadership May 7, 2026 City giants have warned today’s local elections will be “significant” for market pricing, with traders keeping a close eye on possible leadership moves made by the likes of Angela Rayner and Andy Burnham. Several financial behemoths have lined up to warn investors that results across the country over the coming days could be unusually important [...]
‘Frightening’: Middle-earning grads could end up paying nearly triple the student loan they took out May 6, 2026 Graduates earning a middle income are the most likely to end up paying the most for their student loans, as UK grads continue to buckle under mounting uni debt. Those starting their careers or salaries ranging from roughly £45,000 to £50,000 can end up repaying more than other graduates, according to analysis from Rathbones, as [...]
Exclusive: OBR calculations suggest Reeves set for borrowing spree May 6, 2026 The Office for Budget Responsibility’s own calculations on the impact of a war in the Middle East suggest that Rachel Reeves is set to oversee a surge in borrowing, City AM has found. Sir Keir Starmer and Reeves have said that the government’s focus on “stability” has added protections to public finances and helped the [...]
‘Political choice’: Retailers urge government to act on rising costs May 6, 2026 Retailers have urged the government to cut tax and red tape to counter soaring energy costs caused by the Iran war. The British Retail Consortium (BRC), an industry trade body, has accused Labour of making a “political choice” not to cut energy taxes and delay costly regulation to avoid the worst shop inflation. The effective [...]
A bank tax hangs in the balance at the local election ballot May 6, 2026 As speculation of a leadership challenge – or sweeping reshuffle – surrounds the forthcoming local elections, in this week’s column Samuel Norman looks at what a change in Chancellor would mean for the banking sector. It is no secret that Thursday’s local elections carry a weight far heavier than the fate of a few neighbourhood [...]
‘Clear risk signal’: Gilt yields hit 28-year high as investors weigh Starmer’s future after local elections May 5, 2026 Gilt yields have risen to their highest rate since 1998 as investors weigh the odds of Keir Starmer being ousted following what is widely expected to be a major defeat for Labour at the local elections. The yield on 30-year government bonds rose 11 basis points on Tuesday to hit 5.76 per cent, topping the [...]
Rachel Reeves battled Scott Bessent over Iran war May 5, 2026 Chancellor Rachel Reeves sparred with Donald Trump’s Treasury secretary Scott Bessent over the US’s attacks on Iran, it has been reported. During her stay in Washington DC for meetings at the International Monetary Fund last month, Reeves hit out at the Trump official for “how he had spoken to her.” The two sparred over the [...]