‘False dawn’: June inflation falls to 2.6 per cent but analysts say rises ahead July 22, 2026 Inflation remained stuck above the Bank of England’s target rate despite government promises to tackle the cost of living. The Office for National Statistics said consumer price index (CPI) inflation was 2.6 per cent in the year to June. Analysts predicted the price growth reading to be 2.7 per cent, lower than the 2.8 per [...]
As it happened: Stocks rise but oil tops $95; inflation eases July 22, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Wednesday and new Chancellor John Healey secured an early boost after the Office for National Statistics (ONS) revealed that inflation slowed in June. Headline CPI inflation dipped from 2.8 per cent in May to 2.6 per cent in June. Grant Fitzner, chief economist at the [...]
Layoffs and an executive exit: What’s going on at London’s first listed law firm? July 22, 2026 Gateley, the City’s first listed law firm, is set to lose its chief executive and axe dozens of jobs as it grapples with a swelling cost base and fears of a slowdown in client spending. The group, which is listed on the London Stock Exchange’s Alternative Investment Market (AIM), informed shareholders on Tuesday that chief [...]
‘We are going to run out’: Mitie marks eleventh mega takeover of 2026 July 22, 2026 Mitie’s takeover by rival facilities management group OCS marks the London Stock Exchange’s eleventh £1bn takeover so far this year, as the market continues to serve as a hunting ground for private buyers. OCS agreed to pay 218.5p per share and a final dividend of up to 3.1p. The offer price comes at a 44.7 [...]
Can the City make friends with Healey? July 22, 2026 For the second time in history, the Labour party has recruited a former defence secretary by the name of Healey to become chancellor. The first, Denis Healey, ended up going cap-in-hand to the IMF for a bailout in 1976 after the UK endured rocketing inflation, soaring borrowing and surging unemployment. So the bar has been [...]
Tax rises ‘guaranteed’ as Healey faces £22bn black hole from Burnham spending plans July 22, 2026 Chancellor John Healey will be forced to launch another round of major tax rises in the autumn, leading economists have warned, after a City AM analysis found £22bn of spending pledges are not accounted for in official forecasts. Less than 24 hours after becoming Prime Minister, Andy Burnham has already announced plans to end rough [...]
‘Phenomenal waste of time’: Burnham slammed over plans to dismantle tech department July 21, 2026 Andy Burnham faced immediate questions over his decision to abolish the tech department on Tuesday, as peers warned the move risked disrupting Britain’s AI strategy. Ministers were hauled before the House of Lords less than a day after the machinery of government changes to the Department of Science, Innovation and Technology (DSIT) were announced, where [...]
Healey challenges Cabinet to find cuts July 21, 2026 Chancellor John Healey has challenged Cabinet ministers to find savings in budgets hours after Andy Burnham was criticised for making an “unfunded” tax cut. In the first meeting between Cabinet ministers under Burnham’s government, Healey urged ministers to “look harder” at spending priorities across departments. Burnham also urged ministers to consider “how we are going [...]
Brazen Burnham should call an election and put his ten year plan to the voters July 21, 2026 Plenty of people were staring at their phones outside the Calais terminal of the Eurotunnel on Monday afternoon, but I sensed I was the only one watching Andy Burnham’s Downing Street address. We left for France under one Prime Minister and came back under another. That’s just how it is these days. My first reaction [...]
‘Fantastic news’ as Burnham brings Britain’s AI minister into Cabinet July 21, 2026 Andy Burnham has promoted Kanishka Narayan to a Cabinet position as Britain’s AI minister as part of his first major government reshuffle, handing artificial intelligence its first dedicated seat at the Cabinet table. Narayan will attend Cabinet for the first time after surviving Burnham’s sweeping reshuffle, which saw several senior ministers leave government and the [...]