What does new City minister Rachel Blake have in store for the Square Mile? May 15, 2026 The Westminster drama has hit the City in more ways than one. After Wes Streeting’s resignation triggered a mini-reshuffle, Felix Armstrong and Samuel Norman take a look at what the new City minister might have in store. In just under two years, the City has its fourth minister. Tulip Siddiq resigned in January 2025 after [...]
On this day in 1940: McDonald’s is born in a strange kitchen in California May 15, 2026 On this day in 1940, Mac and Dick McDonald opened an octagonal kitchen in San Bernardino and changed food forever, writes Eliot Wilson.
Allica lands £350m in British Business Bank scheme aimed at fintechs May 15, 2026 Allica Bank has bagged lending backing from the UK’s state-owned economic development bank, in a scheme designed to bolster high-growth challengers that lend to small businesses. The London-based fintech – which sealed its status as a $1bn unicorn earlier this year – has landed £350m in the British Business Bank’s ENABLE Guarantee scheme, Morning Wire [...]
Watchdog rules Heathrow third runway could be built by rival bidder May 15, 2026 Heathrow will lose its decades-old monopoly over building and operating new projects at the airport under new proposals tabled by the aviation watchdog, paving the way for a rival operator to build the third runway and new terminal. As part of a review of the airport’s red tape conducted by the Civil Aviation Authority, the [...]
British Gas to cough up £20m for ‘unfair treatment’ of vulnerable customers May 15, 2026 British Gas is set to cough up £20m after the watchdog closed an investigation into the energy giant and found it “fell short in its treatment of an unacceptable number of vulnerable customers”. The investigation looked into British Gas’ treatment of customers who had prepayment meters (PPMs) installed without permission, with consumers set to benefit [...]
David Beckham becomes Britain’s first billionaire sportsman May 15, 2026 David Beckham has become Britain’s first billionaire sportsman after his wealth doubled in the last year, according to the Sunday Times Rich List. The former captain of the England football team and his wife, Victoria Beckham, are now estimated to be worth almost £1.2bn. Beckham has benefited from the surging valuation of Inter Miami, the [...]
Sunday Times Rich List: Bath and Man United owners Dyson and Ratcliffe lose £10bn May 15, 2026 Manchester United and Bath Rugby investors Sir Jim Ratcliffe and Sir James Dyson have lost £10bn in the last year, according to the Sunday Times Rich List. Dyson, who earlier this year purchased 50 per cent of Prem Rugby club Bath, saw his and his family’s wealth fall £8.8bn, from £20.8bn to £12bn between 2025 [...]
Rich List reveals scale of wealth exodus from Britain May 15, 2026 Revolut chief executive Nik Storonsky and quant house luminary Alex Gerko have both featured in the top 10 of The Sunday Times Rich List for the first time, in a year its author warned laid bare the scale of Britain’s wealth exodus. As many as one in six of the individuals and families who appeared [...]
As it happened: UK borrowing costs rattled by Burnham’s Parliament bid May 15, 2026 Welcome back to the Morning Wire liveblog. Andy Burnham has made his move – and it has left markets on edge. On Thursday evening, after markets had closed, a Labour MP sensationally announced their intention to stand aside to allow Burnham to make his way back into Parliament. And this morning it’s left gilt yields [...]
England Red Roses are great for rugby, but are they bad for business? May 15, 2026 Should the dominant England rugby team beat France on Sunday in the final round of this year’s Women’s Six Nations they will notch up their 38th consecutive Test victory. It is an amazing feat by one of the most incredible sports teams in the world, but is it good for business? For England, yes. For [...]