By: Maurício Alencar

Politics and Economics Reporter Maurício Alencar is City AM’s Economics and City Reporter. He covers 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 City of London. He used to cover foreign news and sports at various publications – plus investigations, which he plans to continue to pursue.

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Starmer dares Labour rebels to trigger contest if they want him out

May 12, 2026

Sir Keir Starmer has told his Cabinet that challengers need to step up and trigger a contest if they want him to quit. Starmer said he took responsibility for the local election results but refused to resign in a statement to senior government ministers on Tuesday. He told ministers: “As I said yesterday, I take [...]
Voters – and markets – fear a lurch to the left under new Labour PM

May 12, 2026

A majority of voters are worried that a change of Labour leadership would drag the government further left, as support grows for lower taxes and less public spending. The latest City AM/Freshwater Strategy poll of UK voters, conducted after the devastating council election results for Labour, also found 29 per cent of voters preferred Manchester [...]
London to be hit hardest as jobs market struggles through 2026

May 11, 2026

The jobs market is set to worsen throughout the year, with UK employment forecast to suffer a net loss of 163,000 jobs. That’s according to research from the ITEM Club, which has found that London is set to bear the largest absolute decline, shedding an estimated 25,000 positions as its retail and hospitality sectors slow. [...]
Gordon Brown returns to government as Starmer shrugs off resignation calls

May 9, 2026

Former Prime Minister Gordon Brown has returned to government in a new role as Sir Keir Starmer has scrambled to save his premiership amid discontent among Labour MPs. Brown will serve as the government’s special envoy for global finance. He will likely be tasked with sorting finance for defence ahead of the publication of the [...]
London local election results LIVE: Brown returns as Labour bruised in five-party split

May 9, 2026

Good morning and welcome back to the City AM liveblog. Former Prime Minister Gordon Brown has returned to support Sir Keir Starmer’s premiership as a special envoy for global finance. The appointment was made after bruising election results across the country, particularly in Wales and Scotland where Labour lost control. Starmer resisted calls for his [...]
UK borrowing costs waver as Starmer insists he will not ‘walk away’

May 8, 2026

Government borrowing costs – which are reflected in changes in gilt yields – have edged lower as City traders were calmed by Sir Keir Starmer’s insistence that he would not “walk away”. Gilts were the best performing government bonds out of any G7 nation on Friday morning as 10-year yields dropped by around eight basis [...]
Exclusive: Ajax tank maker handed £12m from MoD despite trial pause

May 7, 2026

The company behind the failed Ajax tank was paid more than £12m in the period trials were paused, City AM can reveal, laying bare the scale of dysfunction inside national defence procurement. General Dynamics continued to receive taxpayer cash in the period between late November and this week, the time where the government intervened to [...]
Local elections 2026: City awaits ‘significant’ event for Labour leadership

May 7, 2026

City giants have warned today’s local elections will be “significant” for market pricing, with traders keeping a close eye on possible leadership moves made by the likes of Angela Rayner and Andy Burnham. Several financial behemoths have lined up to warn investors that results across the country over the coming days could be unusually important [...]
Oil price pulls back and FTSE 100 rebounds after ‘TACO’ Trump post

May 6, 2026

Oil prices took a step back from a gradual climb on Wednesday after President Trump announced he would pause his military escort operation through the Strait of Hormuz, prompting analysts to joke that the “TACO” president was back. The Brent crude oil price slipped below $100 per barrel amid hopes of a peace deal being [...]
London local election results 2026: Labour lose Westminster as Tories take control

May 6, 2026

CLICK HERE to view all the latest London election results The Conservatives have gained Westminster City Council from Labour after losing in 2022. The Tories pinched nine seats from Labour, who slumped to 22. No surprise now that, as earlier reported, the atmosphere among Tory campaigners in Westminster was jubilant. CLICK HERE to view all the latest [...]

On this day: Concorde first breaks the sound barrier

Manchester City appointed new CFO just days before Premier League guilty verdict

Chef’s Table: Victor Garvey interviews top Japanese actress Yoh Yoshida

By: Maurício Alencar

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