Making Miliband chancellor would be a ‘mistake’, Trump officials warn July 4, 2026 Senior officials in president Trump’s administration have privately warned that appointing Ed Miliband as chancellor would be a “mistake”, as speculation over who will take over from Rachel Reeves grows. US officials told their counterparts in Britain, as well as senior Labour figures, that they were concerned about Miliband’s opposition to new oil and gas [...]
‘That’s reality’: Burnham will have to focus on international affairs, Starmer warns July 4, 2026 Outgoing prime minister Keir Starmer has warned his expected successor that he will have to focus on dealing with global turmoil, arguing the world is “more dangerous and volatile”. In his first interview since announcing his resignation last month, Starmer said Burnham, who is anticipated to enter No 10 in the coming weeks, will be [...]
Richard Desmond puts £1bn Westferry development up for sale July 3, 2026 A £1bn residential development on the doorstep of London’s financial district has been put up for sale by its billionaire owner, City AM can reveal, in the latest twist in a long-running saga over the future of the project. The Westferry Printworks, which is owned by former newspaper baron Richard Desmond and promises to deliver [...]
World Cup boost fails to land UK services sector on front foot July 3, 2026 A World Cup boost failed to drag the UK’s services sector to growth last month after it recorded its fastest rate of decline in three-and-a-half years as businesses braced for the Andy Burnham coronation. The latest Purchasing Managers Index (PMI) from S&P Global showed a reading of 48.8 in June, falling from 49.3 in May. [...]
UK fintech Starling to axe 130 roles in AI-powered simplification drive July 3, 2026 Starling is gearing up to cut some 130 roles in a bid to streamline its operations following a fall in profit over the last year. The London-based fintech told staff this week it would restructure its banking and tech operations as it leveraged AI across operations ahead of an influx of new projects. It said [...]
As it happened: Stocks rise as oil lower; Iran threatens ‘forceful response’ over Strait of Hormuz July 3, 2026 Welcome back to the City AM liveblog. The rate of traffic flowing through the Strait of Hormuz is gradually picking back up in a major boost to the oil market. Brent crude – the international benchmark for oil prices – held steady at near $72 per barrel on Friday morning. It marked a similar level [...]
Tale of two cities: London leaps ahead in global finance but domestic growth stalls July 3, 2026 The City of London has cemented its dominance in international finance ten years on from the Brexit vote but faced sobering domestic growth that failed to match the momentum. The capital sees more international activity conducted than the next eight largest financial centres in Europe combined, according to a new report by New Financial. The [...]
Britain should look to Japan to manage its ageing population July 3, 2026 England's fertility rate has fallen to a rate Japan confronted 30 years ago. Here's the lessons we should take, writes Megan McDonald
Would a Burnham premiership deepen the North-South housing divide? July 2, 2026 The UK housing market remained subdued in June, as fallout from the Iran war and long-running cost and regulatory issues continued to plague the sector, but as we enter what promises to be a sizzling summer all eyes are on a possible recovery. Specifically, Manchester – from where the King in the North has emerged [...]
The Capitalist: Colonel Carns hosts delulu dinner for leadership bid July 2, 2026 Al Carns thinks he's still in with a shot, the Chancellor practices her times tables and City AM get sporty; catch up on the latest gossip.