Controversial £2bn packaging tax could be scrapped as food inflation looms May 5, 2026 The government is reviewing a controversial £2bn sustainable packaging tax as it faces increasing pressure from retailers to prevent food prices from soaring. The Treasury is reportedly looking at potential changes to the Extended Producer Responsibility (EPR) tax, which requires large businesses to pay towards the cost of disposing of their packaging. Retailers have been [...]
UK to join EU Ukraine loan talks in defence push May 3, 2026 The UK is set to begin negotiations to join the European Union’s €90bn (£78bn) loan scheme for Ukraine, as Keir Starmer steps up efforts to deepen defence cooperation with European allies. Speaking ahead of a summit of the European Political Community (EPC) in Yerevan, Armenia, the prime minister is expected to signal Britain’s intention to [...]
Donald Tusk says Nato is falling apart May 2, 2026 Poland’s prime minister Donald Tusk has said Nato is suffering from an “ongoing disintegration” amid pressures on governments to increase defence spending. In a post on X, the former EU council president indicated a war of words between President Trump and Chancellor Merz of Germany, which led to the US taking 5,000 soldiers out of [...]
After a ‘stunning’ update, what does the future hold for long-suffering BP? April 30, 2026 BP wowed shareholders with its first quarter results – doubling profit and bolstering its balance sheet. But with an activist breathing down its neck, its new boss Meg O’Neill isn’t out of the woods yet, writes Ali Lyon As she sat down to pen her first email to BP’s 100,000 staff, Meg O’Neill opted against [...]
Government borrowing costs soar as Iran war drags on April 28, 2026 The government’s borrowing costs have risen to their joint highest level since the 2008 financial crisis, after a sharp jump in the oil price prompted a sell-off in UK debt because of concerns over inflation. The yield on the 10-year gilt – the main benchmark for any government’s long-term ability to borrow – climbed back [...]
Ferrexpo: Miner taps Ukrainian oligarch for $100m equity lifeline April 28, 2026 Cash-strapped London-listed Ukrainian miner Ferrexpo confirmed today that existing investors are prepared to throw it a $100m lifeline as the former FTSE 250 stalwart scrambles to stay in business. It plans to issue new shares to raise the cash. But the time needed for the scheme will delay publication of its annual accounts for last [...]
BP reports highest profits since 2023 off the back of Iran war April 28, 2026 Oil and gas giant BP has reported its highest quarterly profit since 2023 in its latest trading update, as the group capitalised on rising oil prices sparked by the ongoing conflict in the Middle East. In its first results since the war in Iran broke out in February, BP reported a surge in profits to [...]
FTSE 100 Live: Stocks dip as oil edges higher; BP posts profit boom April 28, 2026 Good morning and welcome back to the City AM liveblog. Oil returned to a three-week high comfortably over the $105 mark on Monday and those gains look set to continue today. Brent crude – the international benchmark for oil prices – edged over $110 on Tuesday morning as it once again appeared peace talks in [...]
Bank of England dissenters expected to back interest rate hikes April 27, 2026 Economists have suggested that at least two members of the Bank of England’s Monetary Policy Committee (MPC) could vote for interest rates to be hiked later this week. Analysts at JP Morgan, BNP Paribas and Goldman Sachs have predicted that hawkish policymakers will push back against leaving interest rates unchanged. The Bank’s chief economist Huw [...]
FTSE 100 banks £16bn payday to face economic reality check April 27, 2026 Provisions for sour loans threaten to take a bite out of profit growth as Barclays kicks off FTSE 100 banks earnings season next week whilst economic tensions loom over the wider financial industry. UK banks will give a snapshot of the gathering tensions in the economy next week as the nation’s top lenders update the [...]