UK bank lending growth to fall to three-year low October 1, 2026 Growth in UK bank lending is forecast to stall in the coming years as borrowers feel the pinch of uncertain economic conditions. Lending growth is expected to slow this year to 2.9 per cent before dropping to a three-year low of 2.2 per cent in 2027, according to figures from EY. The figures mark a [...]
AI voice firm Elevenlabs hits $22bn valuation in fresh boost for UK tech September 30, 2026 London-based ElevenLabs has hit a $22bn (£16bn) valuation after completing a $300m employee share sale, marking another sharp jump in value for one of Britain’s fastest-growing AI firms. The voice AI group’s valuation has doubled since its $11bn Series D in February, when it raised $500m, and is now more than 2,000 times the $9m [...]
Andrew Griffith: Burnham’s only belief is that the state knows best September 30, 2026 Andy Burnham has offered up a ten-year plan for socialism. Conservatives would do things differently, says Andrew Griffith I sat down to watch Andy Burnham’s conference speech on Tuesday with trepidation but a genuine interest in what he was going to lay out for people who create jobs, take risks in starting their own businesses [...]
Lisa Nandy admits ‘problem’ with Ofcom enforcement of online safety rules September 30, 2026 Lisa Nandy has admitted there is “a problem” with Ofcom’s ability to enforce online safety rules as she signalled further regulation of tech firms beyond the government’s under-16 social media ban. “Laws are only as good as the ability to enforce them”, the culture secretary said, as she called for a more active role for [...]
Burnham grid shake-up offers data centres escape from power queue September 30, 2026 Britain’s data centre developers could be handed a new route around years-long waits for electricity under Andy Burnham’s plan to open up the power grid to competition. The prime minister unveiled Great British Grid (GB Grid) on Tuesday, a publicly owned arm of Great British Energy that will aim to challenge existing network operators and [...]
Motonovo hikes motor finance provision as buyers circle Aldermore September 30, 2026 Car finance firm Motonovo has ramped up its provisions for the motor finance scandal as top banks and private equity firms explore a takeover of its parent company Aldermore. The Cardiff-headquartered company recognised a £153.2m charge in its latest accounts for historical motor finance commissions. This was more than double the £60.6m recorded last year. [...]
UK disposable income rises as benefits payouts soar ahead of wages September 30, 2026 The average UK household’s disposable income increased in the second quarter of the year driven by a rise in benefit payouts. Real household disposable income per head – which measures the average spending and saving capacity of Brits – increased by one per cent in the second quarter to £6,577, new figures from the Office [...]
Economists warn of tax hikes after Burnham admits social care funding ‘shortfall’ September 30, 2026 Andy Burnham has admitted there may be a “shortfall” in his ambitious plans to fund a new national care service, as economists warn that taxes will have to rise. Burnham announced plans to adjust the triple lock from 2030, effectively creating a double lock, using the savings to fund the new service. The new mechanism [...]
As it happened: FTSE 100 gives up gains as oil rises despite emergency release; UK GDP revised September 30, 2026 Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: The liveblog has ended.No liveblog updates yet. Load more
Exclusive: Mayors can use tourist tax to ramp up borrowing, Burnham tells business September 30, 2026 Andy Burnham has looked to justify his new uncapped “tourist tax” to business chiefs by claiming it will allow mayors to ramp up borrowing, City AM understands. In various meetings at Labour’s Business Day, top business groups were told by ministers the so-called overnight stay levy will let mayors take on more debt and use [...]