Reeves warned Iran war oil shock will lead to government borrowing spike June 2, 2026 Chancellor Rachel Reeves has been warned that government borrowing is set to spike as a result of the Iran war as the Office for Budget Responsibility admitted it had underestimated the effects of the last energy price shock. In a review of its forecasting models, the OBR suggested it had learned lessons from Russia’s full-scale [...]
Borrowing costs fall as interest rate hike fears ease June 2, 2026 Government borrowing costs fell sharply on Tuesday, after a dovish speech from Bank of England governor and revived hopes of a Middle East peace deal led traders to pare back bets on central bank interest rate hikes. Gilts rebounded across the curve, outperforming their European peers. The UK’s two-year and 10-year government bonds fell as [...]
IMU Biosciences announces oversubscribed financing round, bringing its Series A to over $53M as it accelerates its work to decode the immune system with unprecedented resolution and scale, to transform how we understand, diagnose and treat disease June 2, 2026 IMU has built the world’s largest immune dataset and can use a simple blood sample to measure over 100 million immune data points, providing precise actionable insights for patients and healthcare providers Proceeds from the latest round will support IMU’s operational expansion and development of clinical platform and infrastructure, alongside advancing the Company’s clinical programmes
‘Be more Trumpian’ – Mandelson discussed dire economy and ‘lack of verve’ with key Starmer ally June 1, 2026 One of Keir Starmer’s closest allies hit out at Downing Street’s thinking on economic policy as he complained about the government’s push to tax people to pay for more benefits, the latest Mandelson files have revealed. Pat McFadden told Peter Mandelson in May last year that meetings he attended centred on questions about hiking taxes [...]
House prices will fall by two per cent this year – the most since the financial crisis June 1, 2026 House prices will fall by two per cent for the first time since the financial crisis this year, according to Savills, which warned mortgage hikes as a result of the Iran war had “fundamentally changed the outlook for the housing market”. The property giant was forced to revise down its property price forecast for 2026 [...]
I’m 50 – but I feel young dining at Simpson’s in the Strand May 29, 2026 Happy birthday to our top columnist – 50 years young and still eating out every night, especially at Simpson’s in Strand where he feels half his age As I turned 50 this weekend, with a solid celebration at Quaglino’s, a friendly journalist advised me that when it comes to writing, less is more. Or in [...]
Bank of England’s Bailey: Interest rates hike may not be needed May 29, 2026 The Bank of England may not raise interest rates in response to the Iran war and has already effectively tightened monetary policy by taking the prospect of future rate cuts off the table, governor Andrew Bailey has said. In a speech in Iceland, the central banking chief said that inflation is “likely to go higher” [...]
Reeves’ savings package to have minimal impact on inflation rise May 29, 2026 A discount campaign launched by Chancellor Rachel Reeves will “shave off” an expected rise in inflation, analysis has suggested, as economists have raised concern over Britons’ inflation expectations. Reeves’ move to delay a hike in fuel duty beyond September and offer VAT relief for businesses giving families reduced prices could strip 0.2 percentage points off [...]
Natwest and Barclays sweeten mortgage costs as Iran peace hopes ease interest rate fears May 29, 2026 Natwest and Barclays have become the latest lenders to sweeten up their mortgage deals, as hopes remain high that a peace deal will be reached in the Middle East that would bring calm to the interest rate environment. Both lenders have unveiled reductions in mortgage rates, with Barclays cutting its rates across the board by [...]
Reeves’ summer of fun won’t deliver growth May 29, 2026 Instead of attempting to stimulate demand, Reeves should focus on helping hospitality from the supply-side, writes Matthew Bowles.