Time to Aim higher: ‘No visible effect’ of flagship pensions overhaul a year on, industry chief warns May 14, 2026 Britain’s embattled small-cap companies have not yet felt any positive impact from the Mansion House Accord, the boss of an influential industry body has warned, a year on from the UK’s largest pension providers agreeing to plough more cash into unlisted and private assets. In a letter sent to all 17 of the pact’s signatories, [...]
Ministers to be handed ‘statutory powers’ to steer regulator’s growth agenda May 13, 2026 Ministers will be handed new “statutory powers” to steer UK watchdog’s growth agenda and define what it means in different “regulatory contexts“. In the King’s Speech, the government revealed its Regulating for Growth Bill – a cross-sector piece of legislation designed to beef up the UK’s regulatory system’s fostering of growth. The government’s report takes [...]
Labour leadership turmoil to cost Reeves up to £12bn May 13, 2026 Labour’s political infighting could cost Chancellor Rachel Reeves up to £12bn, analysis by a Wall Street bank has suggested. Hot-tempered bond markets and stunted growth – a consequence of further political instability – would knock around £12bn off the Chancellor’s fiscal headroom, Goldman Sachs warned. While the £12bn hit to public finances would not erase [...]
JP Morgan chief threatens to pull £3bn investment if Labour becomes ‘hostile to banks’ May 13, 2026 The chief executive of JP Morgan has threatened to pull a major investment from the UK if Labour government policy turns “hostile to banks”. Jamie Dimon – the influential American banker – revealed plans for a £3bn square feet tower in Canary Wharf last year, which is projected to inject as much as £10bn over [...]
As it happened: Market jitters as Streeting set to make bid against Starmer May 13, 2026 Good morning and welcome back to the City AM liveblog. UK borrowing costs are taking a modest breathe this morning after settling much higher yesterday after a session jam-packed with political turmoil. The 10-year yield on UK gilts spiked ten basis points to over 5.1 per cent on Tuesday. Meanwhile, the 30-year yield soared to [...]
Going for growth? Labour groups set out competing visions for economic strategy May 12, 2026 Competing groups of Labour MPs have published contrasting growth plans on Tuesday, just as Sir Keir Starmer’s leadership stood on the brink. Both the left-wing Tribune group of MPs and the more centrist Labour Growth Group published pamphlets setting out a number of ideas for growth and tax reform. Tribune’s report, led by former transport [...]
Life after Starmer: What could a new Labour prime minister mean for your money? May 12, 2026 It could soon be time to face the music for Keir Starmer after dozens of MPs called for the Prime Minister to throw in the towel, which could unleash months of speculation and uncertainty. Leading frontrunners for the top job include the Manchester mayor Andy Burnham, former deputy PM Angela Rayner and health secretary Wes [...]
Wealth managers shares fall amid Starmer political storm May 12, 2026 A host of the City’s top listed wealth managers suffered sharp sell-offs on Tuesday morning as questions over Starmer’s future caused government borrowing costs to soar. Investors have been on alert since fears of a rebellion against Starmer began after last week’s local election results, with the spike in gilt yields now triggering a sell [...]
‘Twenty years of caution’: Banking industry ramps up efforts to fix ‘anaemic’ UK growth May 11, 2026 The UK’s industry body for banking has stepped up its lobbying efforts for the government to improve “anaemic” growth figures and bolster the financial services sector. A new report published by UK Finance – the body representing around 300 firms that provide UK banking services – has issued a nine-point plan, which calls for “clear [...]
Starmer to nationalise British Steel in bid to save premiership May 11, 2026 Keir Starmer has promised to nationalise British Steel and prioritise closer ties with the European Union in a make or break speech to save his premiership after a bruising set of local election results. Speaking after a weekend of frenzied speculation on his future in Number 10 Downing Street, the Prime Minister rejected calls for [...]