By: Mauricio Alencar

Politics and Economics Reporter Maurício Alencar is City AM’s Politics and Economics Reporter. He covers the state's relationship with the City of London and UK business, jumping between Westminster and the Square Mile. He picks up all stories on UK economics data ranging from inflation to immigration, as well as the Bank of England, the Treasury, business surveys, and all stories important or interesting to the decision-makers. He used to cover sports, foreign news and home news at various publications – plus investigations, which he plans to continue to pursue.

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Winter fuel payments to return for 9m pensioners in £1.3bn Labour u-turn

June 9, 2025

The winter fuel payment will be handed out to 9m pensioners whose income falls below £35,000 a year, the Treasury has revealed, in a £1.25bn blow to Chancellor Rachel Reeves’ chances of keeping her £9.9bn headroom intact.
London suffering from UK economic malaise, NatWest data suggests

June 9, 2025

Businesses in London saw output decline for the second consecutive month in NatWest’s growth tracker – yet there is some optimism that the capital’s economy could resurge. Firms widely reported Chancellor Reeves’ tax hikes and a rise in energy bills, which kicked into effect in what has been dubbed ‘Awful April’, contributed to a decline [...]
Klarna boss: AI will lead to recession and mass job losses

June 7, 2025

The introduction of AI at firms could lead to a recession due to mass job losses of professionals, Klarna’s chief executive has warned. The use of AI to make work more efficient has been encouraged by leading figures, including the government itself which said it could save civil servants two weeks a year. But fintech [...]
ECB cuts interest rates as UK ‘hesitation’ risks dealmaking strength

June 5, 2025

Interest rates in the eurozone have been cut, taking the deposit facility rate to two per cent as fresh data suggested inflation came in just under the European Central Bank (ECB)’s two per cent target rate in May. The cut means the ECB’s rate now stands at two per cent, a halving of rates set two [...]
ONS blames government figures after revealing April inflation error

June 5, 2025

There was renewed scrutiny over the credibility of figures produced by the Office for National Statistics (ONS) after the government body admitted an error in its inflation calculations for April. According to the ONS, the issue arose after the government overstated the number of vehicles subject to the vehicle excise duty. The UK stats body [...]
End net zero levies raising energy bills, CBI boss to demand

June 5, 2025

Net zero costs which push up energy prices and “anchor” businesses’ ambitions to grow must end, the boss of the Confederation of British Industry (CBI) will tell government officials at an event in London on Thursday evening. Rain Newton-Smith, the chief executive of the Confederation of British Industry (CBI), is set to urge the Treasury [...]
UK to miss out on tourism boom due to ‘layer upon layer’ of taxes

June 4, 2025

UK tourism is at risk of suffering a decline as visitors are deciding against going to Britain due to the Treasury’s stringent tax policies, a key industry official has said, in the latest sign of the toll tax hikes are taking. Julia Simpson, the former British Airways chief who now heads up the World Travel [...]
UK finance salaries drop as workers ‘actively develop’ tech skills

June 4, 2025

UK finance salaries dropped by three per cent in 2025, new data has found, prompting more workers to look for new jobs and develop more tech skills to prop up their pay. Average pay in one of the UK’s richest sectors is now around £102,300, lower than the USA but still higher than Germany and [...]
UK firms turn to AI and automation as they struggle to find skilled workers

June 4, 2025

Nearly three-quarters of British firms are struggling to find talented workers in fears that productivity levels are unlikely to rebound after a bumpy recovery from the pandemic, fresh research has found. Prime Minister Keir Starmer has called on firms to prioritise hiring British workers over sponsoring foreign nationals as part of his plans to boost [...]
UK services jobs decline on ‘longest streak’ since financial crash

June 4, 2025

Sliding employment levels in the UK service sector over the last eight months amount to the “longest streak” since the 2008 financial crash – barring the pandemic – according to S&P Global analysts. UK firms are facing intense pressure to maintain profit margins after a labour costs surge following Chancellor Reeves‘ tax raid on employers’ [...]

IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details

Inside Formula 1’s £10,000 hospitality ticket on the back of a moving lorry

This is Bentley’s first electric car, the Torcal

By: Mauricio Alencar

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