Andy Burnham ducks ‘fiscal rules exam’ despite pledge to stick to them Politics Andy Burnham refused to explain Labour’s fiscal rules on Friday, despite insisting he would stick to them if he entered Downing Street, raising questions over the economic strategy underpinning his growing leadership bid. The Greater Manchester Mayor, who has spent months positioning himself as Labour’s most prominent alternative voice, was challenged to explain the government’s [...]
Martin Sorrell calls WPP ‘catatonic’ as Goldman slaps sell rating on its own client Media Sir Martin Sorrell spent 33 years turning WPP from a small Kent-based wire and plastics manufacturer into the world’s largest ad company. He left in 2018 following a dispute over personal conduct that he has consistently denied, and has been a vocal critic of his successors ever since. “I think they are further gone than [...]
Goldman Sachs lands lead role on SpaceX’s record $1.75 trillion IPO Tech SpaceX is preparing to launch what could become the largest stock market flotation in history, after Goldman Sachs secured the coveted lead left underwriting role on a proposed $75bn initial public offering. The Elon Musk-led rocket, satellite and AI group is expected to publish its prospectus as early as Wednesday ahead of a planned Nasdaq [...]
Labour leadership turmoil to cost Reeves up to £12bn May 13, 2026 Labour’s political infighting could cost Chancellor Rachel Reeves up to £12bn, analysis by a Wall Street bank has suggested. Hot-tempered bond markets and stunted growth – a consequence of further political instability – would knock around £12bn off the Chancellor’s fiscal headroom, Goldman Sachs warned. While the £12bn hit to public finances would not erase [...]
Could jet fuel shortages stop fans going on holiday to Fifa World Cup? May 6, 2026 Fans could stay away from next month’s Fifa World Cup as jet fuel shortages cause price hikes and travel uncertainty, experts have warned. The World Cup is being staged across North America with the United States, Canada and Mexico acting as co-hosts, but issues stemming from President Trump’s conflict with Iran could limit the numbers [...]
‘Critically low levels’: UK braces for jet fuel shortage as rationing looms May 5, 2026 The UK is particularly vulnerable to the jet fuel shortages caused by the Iran war, as the risk of rationing looms as supplies fall to “critically low levels” while the summer holidays creep closer. The ongoing closure of the Strait of Hormuz has led to an “extreme tightness” in the supply of jet fuel in [...]
‘Alarming’ lack of private credit understanding in finance bosses May 5, 2026 The elusive nature of the private credit industry has been called further into question with fresh data revealing less than one in five financial services leaders fully understand their exposure to the sector. A fresh report from Big Four firm KPMG has found just 14 per cent of financial services executives believe they are fully [...]
Daily Mail owner sells US data arm for $1bn April 30, 2026 The owner of the Daily Mail has agreed to sell its US property data business in a $1bn (£730m) deal, as it reshapes its portfolio and frees up cash for new investments. Daily Mail and General Trust (DMGT), controlled by Rothermere Continuation Holdings, said it will offload Trepp to Fitch Group in an all-cash transaction [...]
Citadel founder questions understanding of private credit risks April 29, 2026 Hedge fund billionaire Ken Griffin has questioned whether wealthy individuals understand the risks that come with investing in private credit, as the industry wobbles under pressure from investors looking to pull money out. Griffin, who founded $67bn hedge fund Citadel and trading firm Citadel Securities, is the latest in a string of high-profile financial leaders [...]
Government borrowing costs soar as Iran war drags on April 28, 2026 The government’s borrowing costs have risen to their joint highest level since the 2008 financial crisis, after a sharp jump in the oil price prompted a sell-off in UK debt because of concerns over inflation. The yield on the 10-year gilt – the main benchmark for any government’s long-term ability to borrow – climbed back [...]
