Starmer refuses to commit 3 per cent defence spending despite ‘battle-ready’ claim June 2, 2025 Keir Starmer has been criticised for failing to commit to increasing defence spending to 3 per cent of GDP. The Prime Minister vowed to put in place the “largest sustained increase in defence spending since the Cold War,” with a 2.5 per cent share of GDP going to defence. However, the PM maintained that hitting [...]
Business growth expectations fall to weakest since 2022 June 2, 2025 Growth expectations among private sector firms continue to decline rapidly, fresh figures suggest, with forecasts reaching their lowest since September 2022. According to the CBI’s recent Growth Indicator survey, 30 per cent more private sector firms are expecting activity to fall than to grow over the next three months. “There is little sign of summer [...]
HSBC accelerates private credit pivot with $4bn injection June 2, 2025 Europe’s biggest lender has continued its pivot into private credit funds with a $4bn investment into its asset management arm. HSBC has used its asset management business to spearhead a transition into the booming $1.6tn private credit market. The firm said it will invest the new cash into its alternative credit funds, with the goal [...]
M&S: FTSE 100 share price growth helps swell CEO’s pay before cyber attack June 2, 2025 The rise in Marks & Spencer’s (M&S) share price before the FTSE 100 giant was hit by a major cyber attack has helped its chief executive’s pay swell to more than £7m, it has been revealed. Stuart Machin took home just over £7m for the retailer’s latest financial year, up from the £5m he received [...]
Tottenham Hotspur director Cullen steps down after 30 years’ service June 2, 2025 Tottenham Hotspur have announced further boardroom change this summer with the resignation of highly regarded executive director Donna-Maria Cullen after more than 30 years’ service. Cullen, 62, began working for the club as an adviser in 1992 before joining the board in 2006 and has been a key member of chairman Daniel Levy’s operation. Her [...]
Reeves’ tax raids and tariff woes strain UK manufacturers June 2, 2025 British manufacturers continued to struggle in May, despite a surprise minor uptick, as tax hikes and tariffs weighed on firms. S&P Global’s latest PMI survey, which asks around 600 industrial companies about their performance, revealed manufacturers were still battling a tirade of challenges. The latest figure edged up to 46.4 in May, compared to 45.4 [...]
Andy Haldane: Reeves ‘not even close’ on growth after ‘rookie errors’ June 2, 2025 The Bank of England’s former Chief Economist has slammed Rachel Reeves’ first near-full year as Chancellor as “disappointing”, with the government “not even close to doing enough” on growth. Less than two weeks out from the 11 June spending review, Andy Haldane told LBC’s Nick Ferrari that there have been “mistakes, rookie errors” that have [...]
Lazard relocates UK headquarters after 20 years June 2, 2025 Financial services firm Lazard has opened a new UK headquarters in Marylebone as it looks to extend its presence in London. The new, larger site at 20 Manchester Square will become one of its three major global offices alongside New York and Paris. CEO Jeremy Taylor said the site was “more than just a new [...]
Can Cazoo go from collapse to Auto Trader’s ‘undisputed’ rival? June 2, 2025 Cazoo can double in size over the next couple of years and become the undisputed number two to FTSE 100 giant Auto Trader, the man charged with its phoenix-like recovery has said. Barry Judge, who helped rescue the brand after it collapsed in May 2024, added that the company is working on winning back the [...]
UK must be prepared for conflict in Europe or Atlantic, defence review to conclude June 2, 2025 The UK plans to build up to 12 new nuclear-powered attack submarines, it will be announced on Monday as the government unveils its strategic defence review. The 130-page document will conclude UK must prepare for conflict in Europe or the Atlantic and move to “war-fighting readiness” as a countermeasure to Russian aggression. But Sir Keir [...]