Elon Musk becomes world’s first trillionaire after SpaceX mega float June 13, 2026 Elon Musk is never far from the headlines and now the Tesla and X owner is making history once again after the blockbuster float of his SpaceX company has made him the world’s first ever paper trillionaire. The 54-year-old’s net worth was estimated at 982.6bn US dollars (£733bn) before the float, according to Forbes, which has swelled [...]
Starmer clings on as defence spending plan in disarray after resignations June 12, 2026 Sir Keir Starmer’s premiership has been dealt another major blow as defence ministers quit the government over a lack of funding for security. It was confirmed on Friday that the Defence Investment Plan had still not yet been completed after months of wrangling and delays. But on Thursday, John Healey resigned as defence secretary in [...]
The best places to eat sandwiches in Lisbon, from bifanas to pregos June 12, 2026 Most people have their own markers of summer. Elderflower trees blossom into white spidery nets, parks fill up and tops come off, the Premier League finally ends. But for sandwich lovers, the sign of supposedly warmer days ahead comes in the form of an Instagram post by Farringdon-favourite Quality Wines. Word quickly spreads: The bifana [...]
Truth bomb: Defence secretary John Healey resigns over funding battles June 11, 2026 John Healey has resigned as defence secretary after months of tension with Sir Keir Starmer over funding for an uplift in spending on the armed forces. In a letter to the Prime Minister, Healey said the government’s draft for the Defence Investment Plan (DIP) “falls well short of what is required for defence and the [...]
Reeves aims to lure US workers through tax reform June 11, 2026 Chancellor Rachel Reeves is considering a tax break for US workers by introducing fresh reform, reflecting her drive to lure more wealthy migrants despite a wider crackdown on immigration. The government has launched a consultation on the double taxation for investors who may be based in the UK but who work for US firms that [...]
Burnham hints at payout for Waspi women claiming billions June 11, 2026 Andy Burnham has suggested he would support more than 3.5m women who are seeking compensation, hinting at a billions of pounds spending commitment if he enters Downing Street. The Makerfield by-election candidate has long been an outspoken supporter for the so-called Waspi women, a cohort born in the 1950s who claim they lost thousands of [...]
WH Smith shares crater after outlook slashed on Iran war travel chaos June 10, 2026 WH Smith shares have cratered after the retailer slashed its profit forecast amid the prolonged slowdown in global travel and slump in consumer confidence caused by the Iran war. Shares in the FTSE 250 retailer slumped by 16 per cent on Wednesday’s market open to 415p, leaving the stock down more than 35 per cent [...]
Asian markets sink again as tech sell-off reignites on Wall Street June 10, 2026 Asian markets have plunged into the red during Wednesday trading, as the widespread tech sell-off reignited once more on Wall Street. Chipmakers and companies tied to the AI investment boom dragged US stocks down on Tuesday, as last week’s tech jitters came back to plague the market just days before SpaceX’s anticipated listing. The Nasdaq [...]
Fuller’s slams ‘unprecedented government interference’ in pub sector June 10, 2026 The boss of Fuller’s has slammed Labour for “unprecedented government interference” into the pub sector, which he says is to blame for 5,800 pubs closing in a decade. Simon Emeny, executive chairman of Fuller, Smith and Turner, has launched a broadside against the government’s hikes to business rates, national insurance contributions and alcohol duty. “When [...]
As it happened: FTSE 100 see-saws amid global jitters as market outlook turns ‘risky and dangerous’ June 10, 2026 Good morning and welcome back to the City AM liveblog. Markets were not getting too excited at the beginning of this week when Donald Trump said a peace deal with Iran was “very close”. And last night’s exchange of strikes might explain why. The US has said it completed a series of strikes against Iran [...]