Labour leadership turmoil to cost Reeves up to £12bn May 13, 2026 Labour’s political infighting could cost Chancellor Rachel Reeves up to £12bn, analysis by a Wall Street bank has suggested. Hot-tempered bond markets and stunted growth – a consequence of further political instability – would knock around £12bn off the Chancellor’s fiscal headroom, Goldman Sachs warned. While the £12bn hit to public finances would not erase [...]
Vistry shares plummet as housebuilder pauses buyback and warns on inflation May 13, 2026 Shares in leading housebuilder Vistry have plummeted on Wednesday’s market open, after it warned of a “significant” profit hit and said the Iran war is spiking building costs. The housebuilding firm was the biggest faller on the FTSE 250 as its share price fell 11.5 per cent to 288p, leaving the stock down more than [...]
‘Languishing share price’: CVS under pressure to turn around performance from activist investor May 13, 2026 One of the UK’s largest veterinary groups is facing increased pressure from an activist hedge fund to improve its performance after competition regulators concluded a probe into high prices in the sector. Canada-based Converium Capital, which holds a two per cent stake in the FTSE 250 group, threatened to rally shareholders to nominate directors to [...]
Trapstar: London clothing brand put up for sale on insolvency marketplace May 13, 2026 A London clothing brand that has been worn by the likes of Jay Z and Rihanna has been put up for sale on an insolvency marketplace, City AM can reveal. Trapstar, which sells luxury streetwear popular with young people, is seeking a buyer to help meet working capital challenges. The brand, which was founded in [...]
Ask the expert: Is £500k enough to retire? May 13, 2026 Fidelity personal finance specialist Marianna Hunt is back to help a reader who wants to know if they have enough in their portfolio to not only retire but to live the lifestyle they want. Q. I’m 55 and have built up a portfolio worth around £500,000 – split across pensions and ISAs. I’ve also paid [...]
As it happened: Ministers resign as gilt yields at 28-year high May 12, 2026 The Westminster political drama rocked the bond markets with gilt yields surging to a 28-year high. The yield on 30-year gilts surged 13 basis points on Tuesday to hit 5.8 per cent. It comes as nearly 80 Labour MPs have now called for the resignation of the Prime Minister and reports suggest numerous members of [...]
Going for growth? Labour groups set out competing visions for economic strategy May 12, 2026 Competing groups of Labour MPs have published contrasting growth plans on Tuesday, just as Sir Keir Starmer’s leadership stood on the brink. Both the left-wing Tribune group of MPs and the more centrist Labour Growth Group published pamphlets setting out a number of ideas for growth and tax reform. Tribune’s report, led by former transport [...]
Life after Starmer: What could a new Labour prime minister mean for your money? May 12, 2026 It could soon be time to face the music for Keir Starmer after dozens of MPs called for the Prime Minister to throw in the towel, which could unleash months of speculation and uncertainty. Leading frontrunners for the top job include the Manchester mayor Andy Burnham, former deputy PM Angela Rayner and health secretary Wes [...]
‘Bond market meltdown’: UK borrowing costs highest since 1998 as Starmer fights for survival May 12, 2026 Warnings of a “bond market meltdown” flashed through the City on Tuesday after government borrowing costs soared as pressure mounted on Sir Keir Starmer’s future in Downing Street. For weeks, City investors have been on high alert as fears mounted that a mass rebellion would be triggered after devastating local election results. Traders fear the [...]
Wealth managers shares fall amid Starmer political storm May 12, 2026 A host of the City’s top listed wealth managers suffered sharp sell-offs on Tuesday morning as questions over Starmer’s future caused government borrowing costs to soar. Investors have been on alert since fears of a rebellion against Starmer began after last week’s local election results, with the spike in gilt yields now triggering a sell [...]