Reeves’ Spring Statement gave us little to be cheery about March 4, 2026 Rachel Reeves put on a brave face when she stood up at the dispatch box yesterday afternoon to unveil her Spring Statement. And although we were subjected to the usual staccato delivery, the Chancellor’s performance was more confident than usual. But a cursory glance at the latest Office for Budget Responsibility (OBR) projections show there [...]
Spring Statement: Reeves’ pro-growth message ‘at odds’ with reality, say retailers March 4, 2026 The pro-growth message delivered by the Chancellor at the spring statement is at odds with the high-cost reality faced by businesses, retail and hospitality leaders have said. Leaders in the sector have called on the Labour government to deliver urgent reform to the business rates system and slash tax and policy barriers to hiring to [...]
Reeves to meet North Sea oil bosses amid inflation ‘uncertainty’ March 3, 2026 Chancellor Rachel Reeves has revealed she will meet North Sea oil and gas bosses on Wednesday in London, with a market price surge putting the UK economy’s path towards lower inflation in jeopardy. Reeves told MPs during her Spring Statement that she would meet energy bosses from companies operating off Scotland as the government looks [...]
Construction recovery remains fragile amid high costs March 3, 2026 The construction sector is recovering but its growth remains fragile as developers contend with high wages, planning delays and labour shortages. The industry will grow over the next year due to major infrastructure projects but confidence in the housebuilding and commercial sectors remains shaken, according to a report by construction firm McBains shared exclusively with [...]
Spring Statement: Reeves defends Labour’s agenda as growth forecast slashed March 3, 2026 Chancellor Rachel Reeves has defended Labour’s high tax and expenditure policies as new economic forecasts provided a bleaker outlook on growth and unemployment this year. In a statement to the House of Commons, Reeves said updated forecasts by the Office for Budget Responsibility (OBR) showed her decisions as Chancellor were “starting to pay off”. Her [...]
Thousands of Tesco staff to pocket £134m windfall March 3, 2026 Thousands of staff at retail giant Tesco could pocket proceeds from a £134m windfall as part of its employee investor scheme. The supermarket group said more than 22,000 of its staff are eligible for significant payouts from the pot, which is part of its save-as-you-earn investor scheme. The pay boost for frontline workers follows Tesco’s [...]
Fresnillo shares slide as shining profit fails to offset fears in production March 3, 2026 Mining company Fresnillo saw its share price sink in morning trading, as lowered guidance took the shine off soaring profits. The group’s share price fell 5.1 per cent to 3,910 pence, bringing its staggering 419.3 per cent year-long rally to a halt, as investors became wary of a drop in production. The Mexico-based group reported [...]
Borrowing costs spike as Middle East conflict rages March 3, 2026 The cost of UK government borrowing spiked on Tuesday morning, while the pound plummeted as markets continued to digest the impacts of the intensifying conflict in the Middle East. The yield on the 10-year Gilt jumped 0.15 percentage points to 4.46 per cent while 2-year Gilt yields, which closely track interest rate expectations, spiked 0.16 [...]
Aberdeen shares slide as outflows widen March 3, 2026 Aberdeen shares slid as its Interactive Investor performance failed to offset persistent outflows elsewhere. The firm’s share price fell 7.3 per cent to 204p in early morning trading, as persistent outflows from its Adviser business dampened overall investor sentiment. Total assets under management and administration (AUMA) grew nine per cent to £556bn from £511.4bn, off [...]
UK gas prices spike over 90 per cent amid US-Iran war March 3, 2026 Gas prices in the UK have nearly doubled as the war between US and Iran ramped up since the weekend. The price of UK wholesale gas prices – which reflect the costs energy suppliers pay to producers for natural gas before selling to household and businesses – has rocketed by 93 per cent in just [...]