Consumer confidence slips in latest setback for Labour February 27, 2026 Consumer confidence slipped slightly in February despite hopes of a turnaround, adding to fears the UK economy could slump this year. A closely-monitored survey conducted by the research firm GfK said consumer confidence dropped by three points to -19. The reading reflects dampened spirits among British consumers in what will likely worry Labour strategists keen [...]
On this day: The collapse of Barings Bank February 26, 2026 On 26 February 1995, 31 years ago today, Baring Bank, one of the City’s most venerable institutions, was declared insolvent after a massive fraud by one of its employees, Nick Leeson, recalls Eliot Wilson In the 1990s, following the wake of Big Bang and the influx of brash but wealthy, “Greed is good, greed is [...]
Why Rachel Reeves’ low-key Spring Statement still matters February 26, 2026 This is the Spring Statement that Chancellor Rachel Reeves has long been waiting for in opposition: a moment of sheer insignificance. In May 2023, six months after the mini-budget debacle, Reeves offered a speech in opposition to Washington DC’s top independent think tank, the Peterson Institute, exalting her core economics philosophy of ‘securonomics’. She summarised [...]
Tory MP accuses Starmer of ‘blatant lie’ over energy bills claim February 25, 2026 A Tory backbencher has lashed out at Sir Keir Starmer for a “blatant lie” after he praised a drop in the energy price cap set by Ofgem. Katie Lam, who has weighed in on issues ranging from growth to immigration, said energy bills under Labour had spiked since it took to power in mid-2024. She [...]
Revolut investors eye $100bn price tag in push for new share sale February 25, 2026 Revolut is weighing a fresh secondary share sale in the second half of 2026 as investors at the fintech giant hope to secure the $100bn price tag ahead of its highly-anticipated public debut. The London-born digital bank is in early talks over a transaction that would give new investors the opportunity to buy into the [...]
Bank of England chief: Interest rate cut is an ‘open question’ February 24, 2026 The governor of the Bank of England has said that an interest rate cut in March was an “open question” as policymakers suggested the jobs market would remain weak over the coming months. Appearing before the Treasury Select Committee on Tuesday, Andrew Bailey said he had not seen enough evidence to back an interest rate [...]
Retail investors become largest UK investment owners as wealth managers look elsewhere February 24, 2026 Retail investors solidified their place as the largest group of investment trust owners last year, as wealth managers and institutional investors decreased their holdings. As of 2025, retail investors hold a combined £50.5bn, equivalent to a 37 per cent stake, according to the latest state of the nation report from Warhorse Partners. This was up [...]
‘I see people doing dumb things’: Jamie Dimon warns of crisis-style AI reckoning February 24, 2026 The world’s most influential banker has drawn parallels to the time before the global financial crisis amid inflated asset prices and peers doing “dumb things”. Jamie Dimon, the top boss of Wall Street behemoth JP Morgan, said: “Unfortunately we did see this in ‘05, ‘06, ‘07, almost the same thing. “The rising tide lifts all [...]
Lack of trust in AI tempers Starmer’s tech push February 24, 2026 Britain’s AI sector has entered the year with continued momentum, with its leading heavyweights raising over £20bn in private capital over the past year. According to Startup Coalition’s latest AI index, British AI firms command a combined valuation north of £45bn. Business services accounted for roughly 400 AI startups, attracting £8.3bn, while financial services and [...]
UK unemployment will surpass pandemic high, says JP Morgan February 24, 2026 UK unemployment will brush past its peak in the Covid-19 pandemic, Wall Street’s biggest bank has predicted, as employer’s still feel the brunt of Rachel Reeves’ cash grabs. The rate of unemployed Brits is tipped to reach 5.5 per cent by the late spring, according to a forecast by JP Morgan, which would mark an [...]