British Business Bank cuts jobs in automation push July 21, 2026 The British Business Bank slashed its headcount in the last year as the government-owned economic development bank underwent a major restructuring. The bank – which backs loans from financial institutions in a bid to drive up UK small business lending – said in its annual report “a number of colleagues were placed at risk under [...]
Dimon threatens to ditch JP Morgan tower in tax warning to Burnham July 21, 2026 The boss of JP Morgan has refused to commit to the future of the bank’s planned £10bn tower in Canary Wharf as he warned Andy Burnham’s new government against penalising the banking sector with a raft of new taxes. Jamie Dimon, the chief executive of the US financial behemoth, said he hoped that London would [...]
John Healey becomes Chancellor as Andy Burnham names top Cabinet appointments July 20, 2026 John Healey has been appointed Britain’s new Chancellor as Andy Burnham unveils a major shake-up of key Cabinet roles. The Rawmarsh and Conisbrough MP, who had served as defence secretary under Keir Starmer before resigning earlier this year amid a spat over spending commitments, marks a surprise appointment for the top Treasury role, defying Westminster [...]
Wealthy Brits fear Burnham tax consequences July 20, 2026 Wealthy Brits are bracing for a major shake-up of the tax system, as the UK’s new prime minister looks for ways to fund fresh spending commitments. Prior to taking office, Andy Burnham had already hinted at plans over how the country should be taxed. The Makerfield MP has so far refused to rule out a [...]
Borrowing costs jump after Burnham ‘fiscal flexibility’ remarks July 20, 2026 The government’s borrowing costs climbed sharply on Monday afternoon after Andy Burnham said he planned to juice government borrowing by taking advantage of “flexibility” in the current fiscal rules. The new Prime Minister told reporters that his administration would use all potential room within the self-imposed spending straitjacket, which he had promised not to loosen [...]
Burnham risks ‘big mistake’ on AI with tech department shake-up July 20, 2026 Andy Burnham has been warned that breaking up the government department behind Britain’s artificial intelligence strategy could unsettle global investors and damage the country’s standing as a technology hub. The incoming prime minister is reportedly considering abolishing the Department for Science, Innovation and Technology (DSIT) and splitting its responsibilities between the Department for Business and [...]
Warehouse tax could threaten high street businesses, Burnham warned July 20, 2026 Andy Burnham‘s plans to hike taxes on warehouses to pay for business rates cuts for pubs and shops could backfire and raise costs for high street businesses, industry figures have warned. The UK Warehousing Association (UKWA), a trade body representing retailers including Amazon, Co-op and John Lewis, has written to the new Prime Minister urging [...]
Exclusive: Rugby World Champions Cup set to be mothballed July 20, 2026 Plans for a rugby World Champions Cup are this week expected to be mothballed over calendar constraints and costs, Morning Wire can reveal. Plans for a World Champions Cup – akin to the Fifa Club World Cup – were announced in 2025 with an inaugural competition set to be held in 2028. But a board [...]
Burnham promises to ‘build new economy’ July 20, 2026 Andy Burnham has said he will “build a new economy” during his tenure as Prime Minister, promising a raft of measures to help households with the cost of living will be announced as soon as tomorrow. Speaking on the steps of Downing Street, the new Labour leader said his government would put “life’s essentials back [...]
Mega-rich Hundred franchise owners in London for start of competition July 20, 2026 The mega-wealthy owners of London’s two Hundred franchises will be in the capital this week as the franchise cricket competition gets underway at the Oval. One of Asia’s richest family dynasties – the Ambanis – are expected to be at the Vauxhall cricket ground this afternoon as the newly branded MI London – formerly Oval [...]