Rosebank: Britain’s future ‘not in more oil and gas’, energy minister warns February 4, 2025 The UK’s future “does not lie in more oil and gas”, an energy minister has told MPs, just days after a court ruled against consent for two new fields in the North Sea. A judge last week upheld a legal challenge by environmental campaigners against the decision to grant consent to two new oil and [...]
Exclusive: Two-thirds of voters have no confidence in Rachel Reeves February 4, 2025 A majority of Brits now have little confidence in Rachel Reeves’ plan to generate economic growth despite a renewed push from the Chancellor to kickstart Britain’s ailing economy, exclusive polling for City AM has found. More than 70 per cent of voters have said they are not confident in the Chancellor’s fiscal plans and around [...]
UK’s pension wealth is being ‘squandered’, Phoenix boss warns February 4, 2025 The UK’s pension wealth is being “squandered” due to the fragmentation of the market and a lack of risk taking among money managers, the investment chief of Phoenix has warned. Writing in City AM today, Mike Eakins, chief investment officer of the FTSE 100 pensions giant, said the UK was an “outlier” compared to similar [...]
Labour optimism evaporates after bruising seven months February 4, 2025 Labour would see its majority wiped out if the country were to head to the polls today as voters turn on Keir Starmer and Rachel Reeves over their handling of the economy, exclusive polling for City AM has found. After romping to victory with a majority of 174 in July, Labour’s vote share has slumped [...]
Starmer accused of ‘fudging the facts’ of his schooling by education expert February 1, 2025 Sir Keir Starmer has faced accusations of “fudging the facts” about his education, from the founder of a social mobility charity. Sutton Trust founder Sir Peter Lampl, who went to the same school as the Prime Minister, Reigate Grammar, made the claim as he attacked the government’s plans to charge VAT on private school fees. [...]
Astrazeneca cancels £450m vaccine plant, blaming state funding cut January 31, 2025 Astrazeneca has cancelled a planned £450m investment in a vaccine manufacturing plant in Merseyside, saying Labour have failed to match the previous government’s offer of funding. It sees the pharmaceutical firm scrap plans to expand its existing facility in Speke, as announced by then-chancellor Jeremy Hunt at last year’s March budget, as first reported by [...]
The Week in Business: is Reeves right to be an optimist? January 31, 2025 Rachel Reeves has been reset, but should we buy into this new optimistic Chancellor?
Rachel Reeves says tax-hiking Budget was needed to stop economic calamity January 30, 2025 Chancellor Rachel Reeves has defended her tax-hiking Budget today, saying that without the changes to national insurance, the government would have lost control of the economy. Speaking on Time Radio this morning, Reeves said she recognises there are “consequences to increasing National Insurance,” but the “consequences of irresponsibility would have been far greater” had the [...]
Politicians should drop their obsession with Silicon Valley January 30, 2025 Successive British politicians have reached for Silicon Valley – or the idea of Silicon Valley – every time they’ve wanted to project a vision of the future. In 2010 David Cameron set out plans to turn East London into “a world-leading tech city to rival Silicon Valley.” Seven years later, Theresa May’s government was still [...]
AIM and Aquis: London’s junior stock markets under threat without ‘urgent action’ from Reeves January 30, 2025 The government must take “urgent action” to revive London’s junior stock markets AIM and Aquis or risk more firms flooding overseas this year, a top City group has warned. In a new report today, The City UK, a trade body representing the UK’s financial services sector, called on the Chancellor Rachel Reeves and financial regulators [...]