As it happened: Stocks rally as defence shares surge on John Healey as Chancellor July 21, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday and the markets have been adjusting to the first full day of Andy Burnham’s Labour government. Burnham shocked Westminster and the City on Monday evening when he appointed John Healey as his Chancellor, just weeks after he had resigned in protest as defence secretary. [...]
UK fintech Pockit recruits founder of Burger King Kazakhstan July 21, 2026 A top British fintech has hired the founder of Burger King’s Kazakhstan franchise in an eye-catching board appointment. The Cardiff-based business, which offers prepaid accounts to customers without a credit score, has recruited Kazakh businessman Anuar Utemuratov to become a director, according to company filings seen by City AM. Utemuratov worked as an analyst for [...]
Dimon threatens to ditch JP Morgan tower in tax warning to Burnham July 21, 2026 The boss of JP Morgan has refused to commit to the future of the bank’s planned £10bn tower in Canary Wharf as he warned Andy Burnham’s new government against penalising the banking sector with a raft of new taxes. Jamie Dimon, the chief executive of the US financial behemoth, said he hoped that London would [...]
John Healey becomes Chancellor as Andy Burnham names top Cabinet appointments July 20, 2026 John Healey has been appointed Britain’s new Chancellor as Andy Burnham unveils a major shake-up of key Cabinet roles. The Rawmarsh and Conisbrough MP, who had served as defence secretary under Keir Starmer before resigning earlier this year amid a spat over spending commitments, marks a surprise appointment for the top Treasury role, defying Westminster [...]
Wealthy Brits fear Burnham tax consequences July 20, 2026 Wealthy Brits are bracing for a major shake-up of the tax system, as the UK’s new prime minister looks for ways to fund fresh spending commitments. Prior to taking office, Andy Burnham had already hinted at plans over how the country should be taxed. The Makerfield MP has so far refused to rule out a [...]
Burnham risks ‘big mistake’ on AI with tech department shake-up July 20, 2026 Andy Burnham has been warned that breaking up the government department behind Britain’s artificial intelligence strategy could unsettle global investors and damage the country’s standing as a technology hub. The incoming prime minister is reportedly considering abolishing the Department for Science, Innovation and Technology (DSIT) and splitting its responsibilities between the Department for Business and [...]
Burnham promises to ‘build new economy’ July 20, 2026 Andy Burnham has said he will “build a new economy” during his tenure as Prime Minister, promising a raft of measures to help households with the cost of living will be announced as soon as tomorrow. Speaking on the steps of Downing Street, the new Labour leader said his government would put “life’s essentials back [...]
Top business group pitches Burnham for role as ‘delivery partner’ July 20, 2026 One of Britain’s top business groups is pitching itself as a delivery partner for Andy Burnham’s economic plans as the incoming Prime Minister pledges to deliver “growth in every postcode”. The British Chambers of Commerce, which has a presence in every region of the UK and represents some 50,000 businesses, is presenting itself as a [...]
Big Yellow slashes staff and turns to automation after Reeves’ business rates blow July 20, 2026 Big Yellow continued to trim its headcount and hike investment into automation in a bid to cut staff costs, as the company continues to deal with the fallout of Reeves’ decision to hike business rates. The Chancellor’s decision to increase both national insurance and minimum wage in the 2024 Autumn Budget, caused the group to [...]
London-listed healthcare services firm hit by cyberattack July 20, 2026 Shares in Craneware tumbled in early trading on Monday as the healthcare services firm revealed it had been hit by a cyberattack. The AIM-listed business said the incident involved “unauthorised access to a subset of its data environment”. Early investigations suggest “a significant volume of file names were viewed and exfiltrated”. Employee data as well [...]