Revolut makes second bid for US banking permit March 5, 2026 Revolut has made its second play for a US banking licence to crack the North American market as efforts for a UK permit continue to drag on. The London-born fintech juggernaut said on Thursday it had filed for a US bank charter as it named its new boss for the North America region. Nik Storonsky, [...]
Greg Jackson urges Labour to exploit North Sea oil as UK ‘stares down barrel’ of energy price shock March 5, 2026 Octopus founder and government adviser Greg Jackson has urged Labour to “use what’s available” in the North Sea and rethink its key net zero policies. Jackson said the county was “staring down the barrel” of an energy price shock in light of the conflict in the Middle East. The Octopus chief executive who is also [...]
Watch: War brings Reeves’ failures into focus March 5, 2026 War in the Middle East rendered the Chancellor’s Spring Statement “irrelevant” according to City analysts as the economic impacts of the Iran conflict become frighteningly clear. Rachel Reeves made just a passing mention of the Iran war when she addressed MPs on Tuesday, referring briefly to global instability while trying to paint a picture of [...]
Construction hit by wet weather as low housebuilding weakens output March 5, 2026 The construction sector was hit by “exceptionally wet weather” in February that caused delays and led to a decline in output, new research has shown. S&P Global’s purchasing managers’ index (PMI) showed the beleaguered sector suffered from an “accelerated downturn” in output last month. The construction PMI dropped to 44.5, below the 50-figure mark for [...]
Barclays set to cash in on market frenzy amid Middle East crisis March 5, 2026 Barclays and its UK banking peers could be set for a cash boost from the brewing crisis in the Middle East as investors quickly dump equities and fears of an inflation spike spread. FTSE 100 giant Barclays has been noted as uniquely shielded by analysts due to its mammoth market divisions. Jefferies analysts said the [...]
Estate agency Foxtons says ‘government-driven’ costs harming bottom line March 5, 2026 Leading estate agency Foxtons has hit out at the “strain” caused by national insurance and minimum wage hikes as it contends with a “challenging” market. The firm said “government-driven” pressures are harming its bottom line, as revenue growth was “offset” by increased external costs. The Labour government is facing increasing pressure from business to address [...]
FTSE 100 Live: Airline shares fall after Wizz Air profit warning; Primark new boss March 5, 2026 Good morning and welcome back to the City AM liveblog. Global markets returned to a touch of stability on Wednesday as energy prices retreated as investors awaited the latest on the events in the Middle East. The FTSE 100 ended the day 0.8 per cent higher at 10,567.65p – still far below it’s level at [...]
The cost of living crisis is the fault of the public sector, not billionaires March 5, 2026 The Green's newest MP was quick to blame billionaires for the cost of living crisis. Has she looked at the public sector, asks Paul Ormerod.
Reeves is outrageously complacent on economic growth March 5, 2026 The dust has settled on the Chancellor’s pointless Spring Statement and, if anything, it looks even worse in the rear-view mirror than it did in real time. Yesterday, top think-tanks and policy wonks chewed over the claims made by Rachel Reeves in her panglossian speech to MPs, and they don’t appear to be overly impressed. [...]
Pub industry ‘screaming for a reset’ amid wave of closures, says Shepherd Neame boss March 5, 2026 The beer and pub industry is “screaming for a reset”, the boss of the UK’s oldest brewer has warned, as companies brace for more venue closures under the strain of sharp tax hikes and minimum wage rises. Jonathan Neame, chief executive of Aquis-listed Shepherd Neame, which traces its roots back to 1698, said the “real [...]