As it happened: Petrol prices surge to Iran war record as Kingfisher helps lift stocks higher May 26, 2026 Good morning and welcome back to the City PM liveblog. The City is returning from the Bank Holiday break to find the tensions in the Middle East continuing in a stalemate – or perhaps a further escalation than last week. After days of threats President Donald Trump has issued a strike on Iran, which he [...]
Labour has become the party of welfare, not work May 26, 2026 A generous interpretation of events would be to concede that Labour has avoided any attempt at welfare reform because it’s been waiting for the conclusions of Alan Milburn’s review into the crisis of youth unemployment. Milburn, who served as health secretary under Tony Blair, will publish the first part of his government-commissioned report this week, [...]
End quantitative tightening now May 26, 2026 Ending active quantitative tightening is not monetary loosening. The Bank must stop adding avoidable pressure to the gilt market.
James Reed: UK needs entrepreneurs desperately. So I’m gonna fund them May 26, 2026 My father founded Reed in 1960 with just £75. My new fund will help create the next generation of entrepreneurs, says James Reed.
Former SNP chief admits embezzling £400K of party funds to ‘bankroll lavish lifestyle’ May 25, 2026 The former chief executive of the Scottish National Party, Peter Murrell, who is also Nicola Sturgeon’s estranged husband, has been remanded in custody after pleading guilty to embezzling hundreds of thousands of pounds from the party. Murrell pleaded guilty on Monday morning when he appeared at the High Court in Edinburgh. Murrell admitted using “false [...]
UK should learn from Australia’s pension funds May 25, 2026 Australia's pension funds have a long-term, globally minded investment approach that many countries, including the UK, admire.
Reform UK tax cut pledge raises doubts May 24, 2026 Reform UK’s tax cut pledge for workers doing overtime hours is facing criticism from economists across the political spectrum amid doubts it would boost productivity. The party said it would scrap income tax above a 40-hour week for workers on less than £75,000, costing around £5bn a year and paid for through cuts to welfare [...]
Sunak calls for minimum wage quango to be abolished May 24, 2026 Former Chancellor and Prime Minister Rishi Sunak has said that his decisions to hike the national minimum wage backfired as he called for a quango overseeing low pay to be abolished. Sunak appeared to admit that his decision to increase the national living wage has contributed to job struggles faced by young people. In an [...]
Iran deal is ‘largely negotiated’ as Trump teases Strait of Hormuz re-opening May 24, 2026 President Trump has said that a peace deal with Iran is “near” as the Strait of Hormuz could re-open within days. On Saturday, Trump said the key trading route would be re-opened in the terms of a deal to be “announced shortly”. He wrote on a social media post: “Final aspects and details of the [...]
Businesses brace for more layoffs as redundancy warnings climb to post-Pandemic high May 22, 2026 Last year emerged as the most severe year for redundancy warnings since the height of the Covid pandemic, and early 2026 is already accelerating that trend. According to new data from the Liquidation Centre, sourced via an FOI, 2025 was the most severe year for redundancy warnings since 2020, with 315,605 jobs flagged for potential [...]
