14 charts reveal the massive challenges facing UK and NATO defence spending April 7, 2026 Defence spending is casting a shadow over Downing Street. Military officers are in a state of despair. The choices facing Sir Keir Starmer are stark. The political calculus for the Chancellor, Rachel Reeves, has become more complicated than ever as the Iran war puts public finances in danger. Their difficulties go back to February 2025 [...]
Alex Gerko’s XTX paid more than £500m in corporation tax in 2025 April 6, 2026 A London algorithmic trading firm run by billionaire Alex Gerko faced a corporation tax bill of more than £500m last year, the firm’s latest accounts show, making the company one of the largest individual contributors to the exchequer. Kings Cross-based XTX Markets was due to pay around £580m in corporation tax for 2025, according to [...]
Abramovich defies Starmer with new foundation plan for £2.4bn Chelsea funds April 1, 2026 Roman Abramovich has responded to Keir Starmer’s legal threats to claim the £2.4bn sum raised from selling Chelsea by taking steps to set up a new foundation. An application for the creation of the Foundation for Victims of Conflict will be made this week with the Charity Commission, without the permission of the government. No10 [...]
Ukraine is turning West in its economic thinking April 1, 2026 Ukraine and Russia once shared a Soviet system but are now moving in opposite directions. One is becoming more aligned with the economic values of Western democracies; the other remains rooted in a tradition of state control, says Rainer Zitelmann A quiet but consequential shift is underway in Eastern Europe. While geopolitical attention has focused [...]
FTSE 100 Live: Stocks inch up; Fuel shortage fears hit airlines; Unilever nears food deal March 31, 2026 Good morning and welcome back to the City AM liveblog. Oil prices are on track for its biggest monthly gain on record for March following the outbreak of war in Iran. It comes as the war in Iran continues to cause ripples through the market, with Brent crude – the international benchmark for oil prices [...]
Sanctioned Russian oligarch’s charity launches legal action against Barclays March 30, 2026 The Potanin Foundation, a UK charity of its Russian sister organisation, the Vladimir Potanin Foundation, has launched legal action against Barclays Bank in London via advisory firm Forvis Mazars. Founded in 2006 by the former Deputy Prime Minister of Russia, Vladimir Potanin, the organisation has focused on education, culture, and philanthropy. The charity was intervened [...]
NS&I set to fork out millions over huge missing savings scandal March 26, 2026 National Savings and Investments (NS&I) is set to fork out millions of pounds to customers following a missing savings scandal. The government-backed bank is expected to pay out to customers who claim there have been failures in managing their money, with failings dating back years, according to reports in The Telegraph. The bank has been [...]
Here’s how to make energy cheaper March 23, 2026 Tax cuts, radical planning reform and massively expanding nuclear is the answer to the energy crisis, says Sam Richards How do you respond to an energy crisis? That’s the question ministers will be asking officials as war in Iran sends oil and gas prices soaring. I know, because I was sitting in Number 10 being [...]
Summerfolk is a witty, ruthless dissection of the bourgeoisie March 18, 2026 Summerfolk | National Theatre | ★★★★★ Maxim Gorky is a giant of the Russian literary canon, a playwright to be mentioned in the same breath as Gogol and Pushkin and even Chekhov. Yet his work is rarely performed on these shores and I’m a little ashamed to admit I have visited more municipal parks bearing [...]
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 [...]