George Osborne: Manchesterism is a real thing but Burnham ‘only part of the story’ June 10, 2026 Former Chancellor George Osborne has said that mayor Andy Burnham should take some credit for Manchester’s high growth, defending Manchesterism as a “real thing”. Speaking to the House of Lords Economic Affairs Committee, he defended his move to begin devolving fiscal powers to Manchester during the Coalition government years under his “Northern Powerhouse” initiative. He [...]
GSK says AI is reshaping drug pipeline as Nuvalent deal hits shares June 9, 2026 GSK has said agentic AI is already affecting every asset in its pipeline, as pharmaceutical firms race to use the technology to cut the cost and risk of developing new medicines. Speaking at London Tech Week in Tuesday, Eyal Itskovits, GSK’s director of AI and machine learning, said that the technology has officially become a [...]
VodafoneThree enters race for TalkTalk customers with takeover bid June 9, 2026 Vodafone has tabled a bid for TalkTalk’s consumer broadband business, joining a crowded auction as the UK’s largest mobile operator pushes into the home internet market. The FTSE 100 telecoms giant has emerged as a late entrant into the sale process, after initially declining to participate, the Financial Times first reported. Sources close to the [...]
Liz Kendall hails ‘Brit-maxxing’ as Labour bets £1.1bn on AI chip race June 9, 2026 Britain must stop listening to the “doubters, doom-mongers and naysayers” and double down on its strengths in AI, Liz Kendall said as she unveiled a £1.1bn package aimed to turn the UK into a global AI hardware powerhouse. Addressing London Tech Week attendees on Tuesday, the tech secretary embraced the conference’s now-familiar “London maxxing” mantra, [...]
Private equity-backed Ryan breaks with billable hour tradition as AI reshapes sector June 9, 2026 Private equity-backed tax specialist Ryan says its value-based pricing is built for the age of AI, unlike competitors that depend on traditional hourly billing. Most of the professional services sector operates under the billable-hour system, in which the specific amount of time spent working on client tasks can be invoiced. But the rise in AI [...]
‘Course correction’: UK economy to contract as ‘energy shock catches up’ June 9, 2026 The UK economy is expected to contract despite a boost at the start of the year, with economists warning that the war in Iran’s energy price shock will now show up in fresh data. Economists believe that the UK economy declined by 0.1 per cent in April. Official figures will be published on Friday. The [...]
Britain to offer visa refunds to woo tech scale-ups June 9, 2026 The government will reimburse visa fees for high-growth firms hiring overseas talent as ministers step up efforts to turn Britain’s most promising scale-ups into global tech champions. Business secretary Peter Kyle is set to unveil a package of measures aimed at helping fast-growing companies “start, scale and stay” in the UK, including a new concierge-style [...]
Molten Ventures shares surge as it offloads Revolut stake June 9, 2026 Shares in Molten Ventures surged on Tuesday morning after the startup investor confirmed it had sold down its stake in Revolut. The FTSE 250 firm said it made £63m from the share sale, adding that it still had a stake in the company worth more than £100m following the disposal. Molten was an early investor [...]
As it happened: FTSE 100 and Wall Street hit by stock sell-off; CBI cuts UK GDP June 9, 2026 Welcome back to the City AM liveblog. Rachel Reeves is staring down another bruising growth downgrade this morning after the Confederation of British Industry (CBI) slashed the UK’s GDP forecast to 1.1 per cent for the year. The figure is a drop from 1.4 per cent last year and below the previous consensus of 1.3 [...]
‘Nobody’s getting a free pass’: Starmer warns Big Tech as social media ban looms June 9, 2026 Keir Starmer has warned tech firms they face government intervention if they fail to protect children online, as pressure mounts for tougher restrictions on social media access for under-16s. Opening London Tech Week on Monday, the prime minister used a speech focused on artificial intelligence, economic growth and Britain’s tech ambitions to deliver a stark [...]