Retail sales plummet as Iran war hits consumer confidence May 22, 2026 Retail sales plummeted by 1.3 per cent in April, as Brits cut back on spending amid increasing pressure from the war in Iran. The huge fall in retail sales volumes in April was the largest since May last year and defied economists’ forecasts of a softer drop. This comes after a 0.6 per cent rise in [...]
Losses balloon at Easyjet despite seeing ‘no disruption’ to jet fuel supplies May 21, 2026 Easyjet has played down fears that a jet fuel crisis caused by the Middle East will rip through its low-cost model, saying it has kept price rises to a minimum despite losses at the carrier ballooning to more than half a billion pounds. The London-listed carrier told investors it was “not seeing any disruption” to [...]
As it happened: Stocks jittery as Iran war drags on; Reeves unveil cost-of-living package May 21, 2026 Welcome back to the City PM liveblog. Donald Trump has warned Iran there are two options that could see the US finishing the war in Iran, with one that will “see a few people killed as opposed to a lot”. He added: “We could do it either way.” It’s the latest threat from the White [...]
Top Bank of England officials warn Reeves against supermarket price cap May 20, 2026 Senior Bank of England officials have warned that price controls on essential goods are not an effective long-term tool to lower the cost of living, after it emerged the Treasury was pushing supermarkets to commit to cap prices of consumer staples. Speaking at a Treasury Committee appearance, governor Andrew Bailey told MPs that controlling the [...]
Are we in the calm before the economic storm? May 20, 2026 There is a palpable sense of being in the calm before the storm. Thanks to the backward-looking nature of most economic data releases, we’re being fed glimpses of the gathering gloom. The latest GDP growth data from the ONS covered Q1 and came in at a respectable 0.6 per cent. However, it has been widely [...]
Emergency lifeline for collapsed banks doubled to £3bn May 18, 2026 The emergency credit fund that serves as a lifeline for collapsed lenders has been doubled as a result of “recent regulatory and operational developments”. The Financial Services Compensation Scheme (FSCS) – working in tandem with the Treasury and Bank of England – has hiked its revolving credit facility capacity to £3bn from £1.45bn previously. The [...]
UK businesses stall investments and cut headcount due to Iran war May 18, 2026 Over half of UK firms said they have halted investment and hiring plans due to the economic fallout of the Iran war, contributing to supply chain pressures and higher energy and fuel costs. According to new research from accountancy and advisory firm BDO, 57 per cent of 500 businesses with revenues between £10m and £500mn, [...]
Ryanair warns ‘weak’ airlines will go bust this year as fuel costs soar May 18, 2026 Ryanair’s finance boss has said he “wouldn’t be surprised” if some of the airline’s “weaker” rivals went bust later this year, as the Iran war spikes fuel costs. The Dublin-based budget carrier has insisted it is “confident” despite warnings of a jet fuel crisis, but US carrier Spirit Airlines shut down last month, and Ryanair [...]
Watches of Switzerland shares surge on record revenue as US demand soars May 14, 2026 Watches of Switzerland shares surged after the firm revealed record revenue growth, boosted by wealthy Americans flocking to luxury watches. The UK’s largest luxury watch retailer hailed a 13 per cent jump in revenue to £1.8bn in the year to May, as revenue climbed by 24 per cent to £1.2bn in its US market alone. [...]
UK businesses eyeing shift to ‘more predictable’ tax regimes May 14, 2026 UK businesses are considering relocating abroad for a more stable tax and regulatory landscape, according to new research from consulting and network Baker Tilly International. The group, in its annual mid-market survey conducted earlier this year, found that out of all nine markets and 1,500 business leaders surveyed, including in the US, China, and India, [...]
