Global trade at risk as insurers suspend cover following Iran conflict March 2, 2026 More than half of the world’s largest maritime insurance firms are set to cease covering war risks for ships entering the Persian Gulf after conflict broke out in the Gulf region, following the US and Israel’s launch of strikes on Iran on Saturday. As of Thursday, seven members of the City-based International Group of Protection [...]
Formula 1: Middle East conflict hits teams’ Australian Grand Prix plans March 2, 2026 The start of the new Formula 1 season has been disrupted by the conflict in the Middle East, with hundreds of team personnel facing a rush to reach this week’s Australian Grand Prix. Strikes and retaliatory attacks involving the US, Israel and Iran have grounded commercial flights across the region, forcing F1 teams to make [...]
What does Rachel Reeves’ ‘low-key’ Spring Statement mean for markets? March 2, 2026 Ahead of Rachel Reeves’ Spring Statement on Tuesday, Investec’s Chief Economist Philip Shaw sat down with City PM’s Rupert Hargreaves to discuss what investors should look out for in the key statement. Rupert Hargreaves: Next Tuesday, the Office for Budget Responsibility publishes updated economic and fiscal forecasts, as required under the 2011 Budget Responsibility Act, [...]
Private sector to decline but City to buck trend March 2, 2026 Activity in the private sector is forecast to decline over the next three months but firms across business and professional services are set to enjoy their best quarter since 2024, the UK’s leading industry group has said. The Confederation of British Industry (CBI) has found that most firms expect activity to fall in the next [...]
Oil prices spike as UK base hit by Iranian missile March 2, 2026 Oil prices spiked this morning as tensions continued to escalate in the Middle East, raising concerns that a key shipping route could be halted and an Iranian missile attack on an RAF base could drag the UK into a regional war. The cost of a barrel of brent crude – the international benchmark for oil [...]
Brewdog bought by US cannabis giant in £33m deal March 2, 2026 Craft beer giant Brewdog has been sold to American cannabis and brewing group Tilray Brands for £33m after co-founder James Watt reportedly walked away from a comeback deal. Tilray Brands, a pharma firm which sells cannabis and alcoholic lifestyle products, has agreed a deal to acquire most of the brand’s assets. The announcement of a [...]
House price growth holds steady in February March 2, 2026 House prices held steady in the year to February and rose slightly from last month, according to Nationwide’s house price index. The average UK house price last month was £273,176, up 0.3 per cent from January, and annual price growth was unchanged at one per cent. A continued improvement in affordability helped drive first-time buyers [...]
FTSE 100 Live: Gas price surge after LNG halt, stocks slide amid Iran conflict March 2, 2026 Good morning and welcome to the City PM liveblog. Global markets were in store for another dose of risk to kick off the new week after tensions in the Middle East reached a boiling point over the weekend. The cost of a barrel of brent crude – the international benchmark for oil prices – climbed [...]
UK considers social media curfew as under-16 ban looms March 2, 2026 The government is considering overnight curfews on social media and tighter restrictions on children’s access to AI chatbots as it prepares to launch what it describes as a “national conversation” on online safety. From Monday, parents and young people will be invited to take part in a consultation exploring measures that could include an Australia-style [...]
Rail fares frozen in first pause for 30 years March 2, 2026 A long-trailed freeze on regulated rail fares has come into effect across England, with ministers claiming the move will save passengers around £600m over the coming year. The move marks the first halt to annual increases in three decades. From this week, peak commuter returns and off-peak returns between major cities will not rise in [...]
