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 [...]
Petrol retailers pull out of Reeves meeting over ‘abuse’ of staff March 13, 2026 Petrol retailers have pulled out of a meeting with Chancellor Rachel Reeves, claiming the government’s warnings against “price gouging” have led to forecourt staff being abused. The head of the Petrol Retailer’s Association (PRA) called off the meeting at late notice on Friday, after Reeves’ office allegedly refused to hold the tete-a-tete behind closed doors. [...]
Oil crisis to ‘push UK into recession’ after growth flatlines March 13, 2026 Fears that the ongoing crisis in the Middle East will plunge the UK into a recession have been amplified after fresh figures revealed the economy flatlined in January. The price of oil closed above $100 for the first time since 2022 last night as interventions from the global energy body failed to calm markets amid [...]
Iran war ‘heavily’ affecting property confidence, developer says March 13, 2026 Property developer Berkeley Group has said the Iran war is “weighing heavily” on market confidence and could push up inflation. The FTSE 100 firm told shareholders on Friday: “The emerging situation in the Middle East is weighing heavily on risk sentiment and we await to see the impact of this on the market.” “While reaffirming [...]
‘Taxed to a standstill’ – UK economy grinds to a halt with no growth in January March 13, 2026 The UK economy saw zero growth in the first month of the year – before global markets were rocked by the outbreak of war in the Middle East. Fresh figures from the Office for National Statistics (ONS) have handed a major blow to Rachel Reeves with the economy flat in January, compared to the 0.2 [...]
Oil surges again as industry faces ‘largest disruption in history of the market’ March 12, 2026 The global energy body has warned the current oil crisis triggered by the war in the Middle East marks the “largest disruption” in history of the commodity’s market. The International Energy Agency (IEA) made a record intervention in the market on Wednesday, with the release of 400m barrels from the strategic reserves. But the move [...]
Middle East war ‘could plunge UK into a recession’ March 12, 2026 The crisis in the Middle East could plunge the UK into a recession in the worst case scenario where oil prices surge higher over the next two months, analysis has shown. Oxford Economics research has indicated that a continued surge in oil prices would rattle “parts of the global economy”, with the UK set to [...]
John Lewis reinstates staff bonus but remains ‘cautious’ March 12, 2026 John Lewis has returned its staff bonus after years of its suspension, as the retail titan turned a profit but remains “cautious” in a testing retail environment. The partnership, which also owns Waitrose, made a £134m profit in the year to January 2025, up six per cent from the year before, and notched growing sales [...]
Horse racing came together to fight tax hikes. Now it must unite again March 12, 2026 The Jockey Club’s chief executive’s recent rallying cry to British horse racing was bang on, writes Ed Warner. All successful sports have tentpole events, the occasions that attract attention well beyond hardcore fanbases and which drive profits that may (although not always) provide financial scaffolding for its lesser players and promoters. The Cheltenham Festival is [...]
FTSE 100 Live: Stocks drop as oil returns to near $100 after tankers attacked March 12, 2026 Good morning and welcome back to the City AM liveblog. The price of oil shot back above triple digits this morning, rising as much as nine per cent in Asian trading following the news two tankers were struck in the Gulf. An Iraqi news agency broke the news that 38 crew members have been rescued [...]