Farage quits to stand in ‘people versus establishment’ by-election July 7, 2026 Reform UK leader Nigel Farage has announced that he will resign as an MP and stand again as a candidate in an upcoming Clacton by-election as part of what he dubbed a battle of “people versus establishment”. In a video statement where he repeatedly attacked Sky News and The Times and Sunday Times for “harassing” [...]
London workers most exposed to AI jobs cull July 7, 2026 Workers in London are more exposed to an artificial intelligence-induced jobs cull than in any other major city, according to the world’s leading economics think tank, while growth in hiring for AI talent has been lower than in the EU, Canada and the US. A new OECD report from the Paris-based Organisation for Economic Co-operation [...]
Kemi Badenoch: AI firms ‘won’t come here’ if Britain overregulates July 7, 2026 Kemi Badenoch has warned Britain risks driving away the next generation of AI giants unless it lowers industrial energy costs or fixes London’s capital markets, arguing the UK cannot regulate its way to becoming a global tech leader. Speaking at the Politics UK Summit in Westminster on Monday evening, the Conservative leader said Britain was [...]
Pension pressure to help swell UK debt to three times size of economy July 7, 2026 The growing cost of pensions is set to help swell UK public debt to three times the size of the economy and will place ‘unsustainable’ pressure on the public finances, the budget watchdog has warned, days after Andy Burnham pledged to retain the expensive triple lock after taking power. In its annual report on the [...]
As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions July 7, 2026 Welcome back to the City AM liveblog. Donald Trump warned the US will “finish the job” in Iran leaving investors unnerved as he renewed military threats following the funeral of Tehran’s former Supreme Leader Ayatollah Ali Khamenei. Brent crude – the international benchmark for oil – traded above $72 per barrel on the news, but [...]
Burnham’s encounter with political and economic reality will be brutal when it comes July 7, 2026 This is turning out to be a very strange summer indeed, and I’m not referring to the football. This week, a Prime Minister with no power will attend the NATO summit in Ankara and next week, a Chancellor with just days left in the job will tell a City crowd at the Mansion House banquet [...]
‘Too much tax, too much regulation’: Fintech chief sounds alarm on UK economy and IPO market July 7, 2026 The boss of one of the UK’s fastest-growing fintech unicorns has warned the country risks “putting founders off” with overregulation and heavy taxation as speculation rises that the Labour government could make a major lurch to the left. Paul Taylor, who founded banking software firm Thought Machine in 2014, told City AM he feared UK [...]
Brits say Burnham should call an election July 7, 2026 Sir Keir Starmer is set to leave Downing Street on 20 July and a majority of Brits believe Andy Burnham should call a snap election when he takes over. Nearly two thirds of voters (65 per cent) believe a new Prime Minister should call an immediate general election as opposed to 29 per cent who [...]
Government ‘mis-sold student loans’ to teenagers, MPs say July 7, 2026 A group of MPs have accused the government of knowingly mis-selling student loans for years to unsuspecting teenagers, after using adverts comparing repayments to mobile phone contracts and failing to properly inform them of certain conditions. The Department for Education (DfE) used a bundle of promotional materials comparing monthly student loans repayments to low-cost monthly items, [...]
Burnham told to launch £100bn tax reform package July 6, 2026 Andy Burnham has been urged to introduce sweeping tax reforms that could generate over £100bn in extra government revenue by a group of influential economists, which includes his own heavyweight adviser Jim O’Neill. A letter signed by O’Neill, who was formerly a Treasury minister and Goldman Sachs executive, urged the next Prime Minister to introduce [...]