Nuclear deterrent strategy ‘no longer fit for purpose’ February 5, 2026 The UK’s nuclear deterrent strategy is outdated and a lack of expertise has left the country with an “awful lot of ground to make up”, a report backed by the former head of the civil service has warned. Lord Simon Case, who was cabinet secretary until shortly after Labour returned to government, has joined academics [...]
Payments watchdog won’t be abolished ‘any earlier than 2027’ February 4, 2026 The boss of the payments watchdog has said he doesn’t expect the regulator to be officially abolished any earlier than the first quarter of 2027 as criticism grows over the slow progress of reforms in the sector. David Geale, managing director at the Payment Systems Regulator (PSR), said he had “not seen the outcome” of [...]
Service sector sees longest run of job losses in 16 years February 4, 2026 A new survey suggests that the UK service sector has endured its longest sustained period of job losses in 16 years, despite rising business activity at the start of the year. Employment in the service sector has decreased in each month since October 2024, according to S&P’s purchasing managers’ index (PMI), with the pace of [...]
Starmer admits he knew of Mandelson’s enduring links with Epstein – but appointed him ambassador anyway February 4, 2026 Sir Keir Starmer has admitted that he knew Peter Mandelson continued a relationship with Jefrrey Epstein after his first conviction before appointing the Labour grandee as UK ambassador to the US. During Prime Minister’s Questions, Starmer said he was aware that Mandelson maintained relations with Epstein after he pleaded guilty for soliciting prostitution of minors [...]
Mandelson branded a ‘naive sucker’ as he tried to build career post-government February 4, 2026 Peter Mandelson was branded “naive” and a “sucker” in new revelations from the Epstein files that shine a light on Mandelson’s efforts to build a career post-government. The Labour veteran told convicted paedophile Jeffrey Epstein that he had sought the advice of financier Nathaniel Rothschild as he weighed up a role at advisory and investment banking [...]
FTSE 100 Live: Beazley seals $15bn Zurich deal, Santander in $12bn takeover February 4, 2026 Good morning and welcome back to the City PM liveblog. Shares in Europe’s biggest data, publishing and legal software groups slumped on Tuesday after AI giant Anthropic unveiled a new tool aimed directly at in-house lawyers. The move rattled investors who had long viewed the sector as an AI winner. In London, Relx fell close [...]
Voters think defections help Reform UK – and harm the Tories February 4, 2026 Voters believe that political defections made by the likes of Robert Jenrick and Suella Braverman will help Reform UK in elections – and damage the Conservatives. The latest City PM/Freshwater Strategy poll of UK voters has found that 44 per cent think the recent defections will increase Reform’s chances at the next general election, compared [...]
Britain’s growth slumps and the Business Secretary scratches his head February 4, 2026 Having spent another day wading through the Epstein-Mandelson email traffic I was going to write another column about how unbelievably grubby the revelations are, but it’s too depressing. So, I thought I’d focus on something more cheerful; the latest downgrades to the UK’s economic growth forecasts. On his visit to China alongside the PM, the [...]
The Debate: Should student loan debt be forgiven? February 4, 2026 Student loans are under the spotlight, with those who took out plans between 2012 and 2023 feeling the bite. Should student debt (or some of it) be forgiven?
New Years optimism wears off as economic expectations drop February 4, 2026 New Year’s optimism is beginning to fall away with the number of people expecting the economy to improve this year falling at the start of February. According to the latest City PM/Freshwater Strategy poll of UK voters, the number of people expecting the economy to improve in the next 12 months has fallen by four [...]
