Wall Street banks’ $40bn haul overshadowed by economic threats April 15, 2026 Wall Street’s top banks are toasting a record revenue haul this week, but industry chiefs also struck a note of caution after bumper profits were driven by market volatility. JP Morgan led the pack with a net income of $16.5bn in the first-quarter of the year, up 13 per cent from the same period in [...]
Housebuilding stocks recover as industry reaches ‘rock bottom’ April 15, 2026 The UK’s biggest housebuilder kept to the well-rehearsed tone of gloom which has loomed over the sector in recent months, when it became the latest to pull back on spending amid the market uncertainty caused by the Iran war. FTSE 100 firm Barratt Redrow said its financial targets hold firm, but warned that the blockage [...]
UK asset managers pile into record gilt auction April 15, 2026 Asset managers have piled into a landmark UK gilt auction after the Middle East war forced the government to fork out the highest interest rate on its 10-year bond since the global financial crash. City AM understands that Aberdeen and Schroders bought up some of the record £15bn of 10-year securities issued by the Debt [...]
Supermarkets ‘taking mickey’ on pricing, says olive oil boss April 15, 2026 A leading retail trade body has taken on big olive oil over claims supermarkets are “taking the mickey” over their pricing of the product. The British Retail Consortium (BRC) has hit back at the boss of olive oil maker Filippo Berio after he accused grocers of failing to pass falling prices onto consumers. The price [...]
Bank of England could cut interest rates ‘if war ends’ April 15, 2026 The Bank of England could cut interest rates this year if the war in Iran ends and the Strait of Hormuz opens up within weeks, an economist at a City broker has said. Peel Hunt’s chief economist Kallum Pickering’s current assumption is that the Bank makes two interest rate cuts at the end of this [...]
‘Entirely avoidable’: Build-to-rent housebuilding slows as London planning wait doubles April 15, 2026 The construction of build-to-rent homes in Britain is in danger of grinding to a halt as the planning wait for London homes has almost doubled in this decade. The number of build-to-rent homes under construction has fallen for the ninth consecutive quarter, according to data shared exclusively with City AM. The government has pledged to [...]
IMF downgrade Reeves is gaslighting voters on energy crisis April 15, 2026 Rachel Reeves is set to urge other countries to “follow her plan” for the energy crisis, but international analysts expect Britain to perform the worst among comparable nations thanks to decisions she has made, says Alys Denby The war in Iran has come at the worst possible time for a government already struggling to command [...]
The OECD is right about the £100k dead zone where work doesn’t pay April 15, 2026 A household with two young children could be more than £13,000 worse off next year for accepting a routine pay rise that pushes them over the £100,000 threshold, says Michael Healy The OECD delivered a blunt message to the UK last week: simplify the tax system or accept weaker growth. That should not be ignored, [...]
Britain is far poorer than people think April 15, 2026 Most Brits do not realise they are poorer than the average Americans, Swiss, Australians or Singaporeans. When asked to rank the UK among 50 US states on GDP per capita, on average people placed the UK 7th, richer than 43 states. The truth is far more miserable – we are last, says Callum Price There’s [...]
Tesco nears crucial update as Iran war threatens food inflation April 15, 2026 As the bosses of the country’s biggest supermarkets crowded into the chancellor’s office earlier this month, no voice will have been as loud as that of Ken Murphy, chief executive of Tesco. Rachel Reeves summoned grocery executives to discuss how the Iran war will impact Brits’ weekly shops, and Tesco’s results tomorrow will pull back [...]