Government ‘must not delay’ over Abramovich’s £2.5bn Chelsea funds, Tories say March 18, 2026 Shadow chancellor Mel Stride has insisted the government “must not delay taking further action” against Roman Abramovich to unlock £2.5bn held after his sale of Chelsea. The Russian was forced to offload the Premier League club in 2022 after Vladimir Putin’s invasion of Ukraine, with the proceeds of the sale to a consortium led by [...]
It’s not the oil price, it’s the government response that matters March 18, 2026 Like most commodities, oil has fluctuated in price very substantially over time with regrettable effects on household incomes. But the biggest mistake would be to try to protect living standards as a whole when the country has been made worse off, says Paul Ormerod Shock, horror, the oil price is over $100 a barrel. The [...]
Energy bills bailout speculation sparks bond sell-off fears March 17, 2026 An unfunded government intervention to subsidise household energy bills would trigger a gilt market rout likely to push the UK’s long-term borrowing costs to the highest they have been since 1997, bond investors and economists have warned. David Zahn, head of European fixed income at Franklin Templeton, told City AM that the prospect of ministers [...]
Iran war: Independent pubs face ‘devastating’ energy costs March 17, 2026 Independent pubs could be left vulnerable to spikes in energy costs caused by the Iran war, while their larger competitors enjoy the security of fixed energy deals. Landlords across the UK could face “devastating” costs if energy prices continue to rise, trade body UKHospitality has warned. Blockages to the Strait of Hormuz, a crucial shipping [...]
Why this oil shock isn’t like the last one March 17, 2026 The new surge in oil prices will be shaped more by political responses than by monetary policy, due to a crucial shift in the economic backdrop from the tight labor markets of 2022 to the current looser conditions, says Helen Thomas This week, six major central banks meet in quick succession, including the big four: [...]
Sinner breaches major prize money barrier with $1m Indian Wells haul March 16, 2026 Jannik Sinner’s victory at Indian Wells took his career prize money to $60m, with the Italian averaging $142,000 per career match. The Italian beat Russia’s Daniil Medvedev to win Indian Wells on Sunday and become the youngest man to win all six ATP Masters 1000 hard-court titles. Australian Open semi-finalist Sinner, 24, won 7-6 7-6 [...]
Reeves vows ‘greater support’ for poorer Brits as Iran oil island hit March 14, 2026 Chancellor Rachel Reeves has suggested poorer households will receive “greater support” in an energy subsidy package as oil supply worries intensified after a key Iranian island was attacked. Reeves has said she “found the money” to announce a support package for people not supported by the energy price cap, including rural communities which use heating [...]
Fuel duty rise ‘under review’ as Iran war response sparks tensions March 11, 2026 Sir Keir Starmer has said a rise in fuel scheduled for September is “under review” hours after Rachel Reeves hinted an energy support package could be drawn up. Starmer said fuel duty would remain frozen until September and the policy would be kept “under review in light of what’s happening in Iran” when he was [...]
Mortgage lenders pull deals at fastest pace since mini-Budget March 11, 2026 Mortgage lenders are pulling deals at the fastest rate since Liz Truss infamous mini-Budget amid growing agitation around the economic consequences of the Iran war. Nearly 500 homeowner mortgages have disappeared from the market in mere days, according to finanical information platform Moneyfacts, as average mortgage rates breeze past the five per cent mark. Moneyfacts [...]
Reeves hints at ‘scope’ for energy package amid inflation rout fears March 11, 2026 Rachel Reeves has indicated that the government can afford to provide a heavy subsidy package protecting Brits from soaring energy prices. Appearing before the Treasury Committee on Wednesday, the Chancellor warned the war in Iran was “certainly not good” for the UK economy but suggested that the government was prepared to respond to the crisis [...]