Why high oil prices could plunge world into recession by the summer March 30, 2026 The world economy is heading for a “rare” recession in the middle of this year as a prolonged war seems likely amid the prospect of US troops heading to the Middle East. Economists have warned that activity will fall in the middle of the year if oil prices surge to $150 per barrel and remain [...]
For FSCS sake: Meet the body that protects Britain’s savers in a financial crisis March 30, 2026 As echoes of 2008 percolate through the banking system, the body that serves to protect Britain in a financial crisis says it’s ready to weather any storm. A combination of fears around private credit, the “stretched” value of artificial intelligence firms and more recently, concerns around a global energy shock, have made top bankers sound [...]
Arbuthnot chief: High street banks’ push into wealth is no threat March 30, 2026 One of London’s oldest private banking institutions has sounded off on the influx of the British banking giants looking to grab a slice of the wealth management pie. Andrew Salmon, the boss of Arbuthnot Latham, told City AM that when big bank rivals attempt to go “stratospheric” with their thresholds, it would benefit from its [...]
Reeves and Miliband to call on G7 to follow UK’s energy lead March 29, 2026 Rachel Reeves is set to call on fellow G7 nations to follow the UK’s lead in the transition to renewable and nuclear power as the unfolding energy crisis ripples through global economies. The Chancellor is expected to urge G7 partners to commit to long-term energy security as she meets fellow finance ministers, energy ministers and [...]
Top energy and City bosses called for summit with Starmer as oil surges March 29, 2026 A number of senior leaders from the likes of HSBC, Goldman Sachs and Shell will meet with Prime Minister Sir Keir Starmer on Monday as the government scrambles to help ease the unfolding energy crisis from the war in Iran. Top officials from the energy, finance and logistics sectors will attend the roundtable on Monday, [...]
OpenAI investor calls for tax overhaul as AI reshapes jobs market March 29, 2026 An early investor in OpenAI has called for a radical overhaul of the US tax system in anticipation that the rise of AI will necessitate a shift from taxing labour to taxing capital. American businessman and venture capitalist Vinod Khosla has said that as the accelerated automation of the workforce fuels public anxiety over job [...]
‘No need to take action’ on fuel duty, says Labour minister March 29, 2026 A Labour cabinet minister has pushed back against rallying calls for the government to hand petrol retailers some reprieve, stating there is “no need” to axe the planned hike in fuel duty. Education secretary Bridget Bridget Phillipson said on Sunday the government would “take a view closer to the time” on whether to press ahead [...]
Kemi Badenoch to call for oil drilling to be maximised March 28, 2026 Kemi Badenoch is to launch a campaign calling for Britain to maximise the use of its oil and gas reserves. The Conservatives will put a “get Britain drilling” campaign at the heart of their proposals for bringing down the spike in energy prices caused by the war in the Middle East. Iran’s blockade of the [...]
Reeves’ energy bill crackdown prompts industry backlash March 28, 2026 Chancellor Rachel Reeves’ push to crack down on “profiteering” among retailers has led to backlash across industry as suppliers are warning of shortages on the horizon. Reeves has been warned by industry bosses that the focus on profiteering lacked justification and was part of a political ploy ahead of crucial elections in May. Asda boss [...]
Sadiq Khan to be handed peerage March 27, 2026 Sadiq Khan is poised to be handed a peerage as part of an effort from Keir Starmer to placate one of the loudest Labour party critics of his stuttering administration. According to reports, the London mayor is one of several contenders in line to be elevated to the UK’s second chamber after May’s local elections, [...]