Mandelson car crash shows Starmer’s Labour has no ideology, only in-fighting February 5, 2026 Peter Mandelson was given the job because he’s from the right faction of the Labour party. Keir Starmer’s government doesn’t believe in anything except fighting itself, says John McTernan Politics is – at its best – a battle of ideas. Successful politicians need to be able to fight and think at the same time. Peter [...]
Banks ombudsman complaints slump after Treasury overhaul February 5, 2026 Complaints to the banks ombudsman fell to the lowest level in two years in the last quarter of 2025 as changes from regulators and Treasury ease the caseload. Between October and December the Financial Ombudsman Service (FOS) received 47,300 complaints – a major drop from the 68,400 lodged the year prior. It also maintains a [...]
Bank of England raises alarm on unemployment as interest rates unchanged February 5, 2026 The Bank of England has held interest rates but policymakers warned that the spiralling unemployment rate and weak growth was weighing down on price growth. In its decision on Thursday, the Bank’s Monetary Policy Committee voted 5-4 to leave interest rates at 3.75 per cent. But economists warned that unemployment could jump higher over the [...]
The Mandelson Epstein scandal: Squalid, brazen and outrageous February 5, 2026 Sex, money, power and influence. Peter Mandelson, once a towering figure in Labour, in the government and in the City, has fallen. He is now the subject of a police investigation into allegations of misconduct in public office after thousands of emails contained in the latest Epstein files released by the US Department of Justice [...]
UK construction ‘exits tailspin’ but job losses persist as housebuilding slumps February 5, 2026 The UK’s struggling construction sector showed signs it was turning a corner at the beginning of the year even as job losses and shrinking order books persisted. The latest construction Purchasing Manager’s Index (PMI) from S&P Global – which serves as a headline index tracking industry activity – edged up to 46.4, up from 40.1 [...]
Bank of England Live: Interest rates held in narrow 5-4 call February 5, 2026 Good morning and welcome to the City AM liveblog. The Bank of England’s monetary committee has decided to hold rates in its first meet of the year. Markets – and City AM‘s own Shadow MPC – had placed their bets on a hold as the Bank continues its gradual chop to the base rate. In [...]
Ageing workforce puts London’s specialty insurance sector at risk February 5, 2026 London’s specialty (re)insurance market employs around 61,000 people, but despite this, the sector is facing a ‘critical’ talent shortage. According to data from the trade body, the London Market Group (LMG), that headcount is up 3 per cent since 2022, but the sector is expected to require around 82,200 by the end of 2034. The [...]
Starmer’s faith in Mandelson was a catastrophic error of judgement February 5, 2026 If Keir Starmer had hoped that his own indignation, doubtless sincerely felt, would put distance between Downing Street and the Peter Mandelson scandal, he was mistaken. Amid dramatic and at times chaotic scenes in the House of Commons yesterday, the Prime Minister was forced into a humiliating u-turn as opposition and Labour MPs united to [...]
Starmer’s authority in doubt as Labour MPs vent fury over Mandelson February 5, 2026 Sir Keir Starmer was under mounting pressure last night after he admitted he had been warned about Peter Mandelson’s relationship with Jeffrey Epstein prior to appointing him as ambassador to Washington. Starmer’s attempts to handle the release of files relating to Mandelson’s vetting process were then thwarted by furious Labour backbenchers demanding independent scrutiny of [...]
Nuclear deterrent strategy ‘no longer fit for purpose’ February 5, 2026 The UK’s nuclear deterrent strategy is outdated and a lack of expertise has left the country with an “awful lot of ground to make up”, a report backed by the former head of the civil service has warned. Lord Simon Case, who was cabinet secretary until shortly after Labour returned to government, has joined academics [...]