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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Steel mogul Lakshmi Mittal leaves UK for Switzerland and Dubai

November 23, 2025

Lakshmi Mittal, the steel mogul who was one of Britain’s richest people, has now left the country and become a resident in Switzerland for tax purposes, it has been reported. Mittal has long been one of the billionaires rumoured to be leaving the UK in response to Rachel Reeves’ tax plans. In March this year, [...]
UK economy flatlines in November as Labour growth push fails

November 21, 2025

The UK economy flatlined in November, researchers have suggested, as pre-Budget nerves have hit growth across the private sector. S&P Global’s initial estimate for its purchasing managers’ index (PMI) has shown the UK economy just inching up, with firms pausing orders and investment plans before Chancellor Rachel Reeves announces sweeping tax hikes and possible spending [...]
PM set to formally approve new Chinese embassy

November 21, 2025

Sir Keir Starmer is expected to give his formal seal of approval to a controversial new Chinese mega-embassy at Royal Mint Court, with the backing of the security services. According to a report in The Times, the approval is set to be a ‘formality’. The Home Office and Foreign Office – and, by extension, MI5 [...]
UK government borrowing overshoots in Budget blow

November 21, 2025

UK government borrowing exceeded expectations in October, with benefits and public sector wages intensifying pressures on the public purse ahead of Rachel Reeves’ Budget next Wednesday. The Office for National Statistics showed that public sector net borrowing had reached £17.4bn in the last set of public finances data that government officials will see before Wednesday’s [...]
FTSE 100 Live: Asos shares tumble, retail sales drop, Babcock sinks

November 21, 2025

Good morning from the City AM liveblog team. With just days to go before the Budget, there is increasing investor nervousness about what surprises could be in-store for businesses. Few are expecting those surprises to be pleasant. Speaking to the paper yesterday, the boss of the world’s biggest platinum group metals recycler warned Rachel Reeves [...]
Consumer confidence is ‘bleak’ ahead of Budget

November 21, 2025

Consumer confidence has cratered ahead of the Budget according to a leading survey closely monitored by policymakers at the Treasury and Bank of England. The GfK consumer confidence barometer has shown the overall index falling to -19 in November, slightly lower than at the same time a year ago. The survey of around 2,000 individuals [...]
High earners and entrepreneurs to get immigration rule carve-out

November 20, 2025

High earners and innovators are set to be handed softer rules on settled status despite an immigration crackdown led by home secretary Shabana Mahmood. Under sweeping reforms to the legal migration system, Mahmood has revealed she is planning on only letting people arriving in the UK from 2021 to gain settled status, formally known as [...]
Manufacturing output plummets at fastest pace since pandemic

November 20, 2025

Manufacturing output in the three months to November dropped at the fastest pace since the pandemic, a new survey has found. Researchers at the Confederation of British Industry (CBI) said that the balance reading for output volumes across industry was at the lowest level since the quarterly period to August 2020. The weighted balance reading [...]
OBR questioned on Reeves’ flip-flopping and forecast changes

November 20, 2025

The Office for Budget Responsibility (OBR)’s chief has been questioned on whether he dramatically upgraded forecasts midway through the Chancellor’s Budget planning, affording Rachel Reeves as much as a £10bn swing in headroom projections and allowing her to abandon plans to raise income taxes. Shadow Chancellor Mel Stride has written to Richard Hughes, chair of [...]
FTSE 100 Live: AI boom continues, JD Sports update

November 20, 2025

Good morning from the City AM liveblog team. Among the least-desired accolades for a company chief executive is to see their firm’s share price rise the moment they announce their departure. Unfortunately for him, the latest exec to have been dealt this honour is the boss of WH Smith, Carl Cowling, who yesterday watched the [...]

Trump says he is raising global tariffs after Supreme Court ruling

Six Nations in-game ads pave way for football to be split into quarters

London Sports Festival Returns to the Capital

By: Mauricio Alencar

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