Bank of England chief: Interest rate cut is an ‘open question’ February 24, 2026 The governor of the Bank of England has said that an interest rate cut in March was an “open question” as policymakers suggested the jobs market would remain weak over the coming months. Appearing before the Treasury Select Committee on Tuesday, Andrew Bailey said he had not seen enough evidence to back an interest rate [...]
Retail investors become largest UK investment owners as wealth managers look elsewhere February 24, 2026 Retail investors solidified their place as the largest group of investment trust owners last year, as wealth managers and institutional investors decreased their holdings. As of 2025, retail investors hold a combined £50.5bn, equivalent to a 37 per cent stake, according to the latest state of the nation report from Warhorse Partners. This was up [...]
‘I see people doing dumb things’: Jamie Dimon warns of crisis-style AI reckoning February 24, 2026 The world’s most influential banker has drawn parallels to the time before the global financial crisis amid inflated asset prices and peers doing “dumb things”. Jamie Dimon, the top boss of Wall Street behemoth JP Morgan, said: “Unfortunately we did see this in ‘05, ‘06, ‘07, almost the same thing. “The rising tide lifts all [...]
Lack of trust in AI tempers Starmer’s tech push February 24, 2026 Britain’s AI sector has entered the year with continued momentum, with its leading heavyweights raising over £20bn in private capital over the past year. According to Startup Coalition’s latest AI index, British AI firms command a combined valuation north of £45bn. Business services accounted for roughly 400 AI startups, attracting £8.3bn, while financial services and [...]
UK unemployment will surpass pandemic high, says JP Morgan February 24, 2026 UK unemployment will brush past its peak in the Covid-19 pandemic, Wall Street’s biggest bank has predicted, as employer’s still feel the brunt of Rachel Reeves’ cash grabs. The rate of unemployed Brits is tipped to reach 5.5 per cent by the late spring, according to a forecast by JP Morgan, which would mark an [...]
Louise Haigh doubles down on demand for OBR overhaul February 24, 2026 Former transport secretary and vocal soft-left backbencher Louise Haigh has issued another plea for Chancellor Rachel Reeves to overhaul the Office for Budget Responsibility a week before the Spring Statement. In a swipe at the Chancellor’s management of the UK economy, Haigh argued that mandating the watchdog to produce five-year forecast windows “risks entrenching decline”. [...]
The era of cheap money is coming to an end – markets aren’t ready February 24, 2026 The era of historically cheap money is ending, forcing a potentially permanent adjustment to higher equilibrium interest rates that will challenge financial markets and government finances built on past assumptions, says Damian Pudner For almost a decade until the pandemic, financial markets priced money as if it would remain cheap indefinitely. Governments borrowed freely, financial [...]
Revolut: Inside Nik Storonsky’s $75bn fintech empire still waiting for its crown February 24, 2026 In Revolut’s shiny new Canary Wharf headquarters, the command ‘Get Sh*t Done’ is bolted onto the walls. The unconventional office mantra is a stark reminder of co-founder Nik Storonsky’s acerbic, straight-talking manner that has kept the gas pumping at the UK’s most valuable fintech since it opened for business in 2015. “Whenever a target is set, [...]
Reform vow to create new ‘wealth fund’ using pension schemes February 23, 2026 Reform UK has pledged to create a new “British Sovereign Wealth Fund” using local government pension schemes as part of Richard Tice’s first policy package as the party’s spokesman for business, trade and energy. Reform has vowed to wrap various arms of government, including housing and energy, into one office that focuses on growth, job [...]
Economy bogged down by low-performing firms February 23, 2026 The UK economy is suffering from an ever-lengthening tail of low productivity businesses, according to a new report from BCG. Between 1997 and 2023, the number of firms below the 25th productivity percentile nearly doubled, rising from 444,500 to 873,000, while the total number of firms increased by 70 per cent. At the other end [...]