Healey faces £24bn spending squeeze as inflation puts tax rises in play July 29, 2026 Chancellor John Healey is facing a £24bn real terms squeeze on the public purse due to higher inflation and will be forced to hike takes to fund the government’s spending plans, a top think tank has warned. Price growth will peak at 3.8 per cent early next year before a slow return to the Bank [...]
Hold interest rates but ‘sound hawkish’, City AM Shadow MPC tells Bank of England July 28, 2026 The Bank of England should hold interest rates on Thursday, City AM’s Shadow Monetary Policy Committee has said, after a string of economic data prints showed the threat of spiralling inflation had eased. The Shadow MPC – a group of economists compiled by City AM – said a series of economic data releases had suggested [...]
Don’t hike bank taxes, Barclays warns Burnham July 28, 2026 Barclays has warned Andy Burnham not to slap fresh taxes on banks, as fears grow the new prime minister could take advantage of lenders’ bumper earnings to launch a raid on the sector. Speaking after Barclays’ half-year results this morning, executives warned that banks already faced the highest rates of tax globally and saddling them [...]
Keep your politics out of your investments July 28, 2026 I keep telling everyone that you should keep your politics out of your investment portfolio. The market doesn’t care about your politics. That is why I am against ESG investors that exclude certain industries from their portfolio, just like conservative investors who think climate change is a hoax and don’t invest in wind and solar [...]
How can wealthy Scots save £46,000 on income tax? Commute from England July 28, 2026 Higher earners in Scotland could save more than £46,000 in income tax over five years by moving south of the border and commuting to work, according to a new analysis by Rathbones. The wealth management firm found that a resident earning £250,000 could pay £8,900 less income tax in the first year alone by relocating [...]
Man Group shares surge as assets hit record $253bn July 28, 2026 Shares in Man Group surged on Tuesday morning after the group posted record assets under management and a recovery in performance fees. Shares in the FTSE 250 hedge fund increased six per cent to 318p per share. The stock has rocketed 36.5 per cent since January. Core net revenue hit $853m, while core performance fee [...]
Students urged to rethink idea of a ‘safe job’ as Labour pledges major education reform July 28, 2026 A Cabinet minister has warned young people against depending on “safe and secure jobs” as Andy Burnham announced that children as young as 14 will get access to technical education. Pat McFadden, the work and pensions secretary, has said that changes to the education system were “more urgent” given disruption to the jobs market from [...]
Barclays profit surges as equity traders cash in on volatility July 28, 2026 Barclays profit surged ahead of expectations in the second quarter of the year as market turmoil fuelled a bumper performance in its equity trading division. The FTSE 100 giant revealed it would launch a new £1bn share buyback after pre-tax profit jumped 17 per cent from the prior year to £6.1bn across the first half [...]
Number of British millionaires sinks to lowest level since financial crisis July 28, 2026 The number of millionaires in Britain has sunk to its lowest level since the 2008 financial crisis as rich residents flee the country due to punishingly high levels of tax and the removal of non-dom status, a fresh study has claimed. Some 442,000 millionaires were listed as residents in Britain in 2025, a seven per [...]
As it happened: Stocks jump as oil drops; Unilever shares soar on decade-best sales July 28, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday and the UK’s blue-chip index has made strong gains following a peaky start to the day. The markets took a boost yesterday after oil dropped back after reaching two-month highs of more than $100 per barrel last week when the Iran backed-Houthis took responsibility for tanker [...]