Citi chief’s cowed Trump comments reveal corporate America’s tightrope Banking Citi has become a favourite of President Trump during his second term. Chief executive Dame Jane Fraser’s comments in London yesterday may show why, writes Charlie Conchie I sat across the table from Citi’s boss Dame Jane Fraser yesterday as she delivered a blistering warning to Andy Burnham and the new Labour government. For an [...]
UK debt ‘hits £3 trillion’ milestone Economics The size of the UK’s national debt has now risen above £3 trillion, analysis has suggested, reflecting the burden facing taxpayers across the country. A tracker by a rightwing campaign group and think tank has suggested that national debt had reached the long-awaited milestone after an explosion in spending since 2020. The Taxpayers’ Alliance based [...]
‘Social value’ procurement rules are an absurd waste of time and money Economics Procurement is not a sexy topic, but stay with me here. The public sector spends around £400bn a year buying goods and services from the private sector. You can imagine the scale: NHS equipment and Ministry of Defence gear, police cars and IT infrastructure, immigration processing centres, security guards, construction projects and fax machines. It’s [...]
Give London power to level up the rest of the country August 6, 2026 If Andy Burnham is to make a success of his devolution agenda he must give London more powers and money to invest in the main drivers of the whole country’s international competitiveness, says Patrick Diamond The new prime minister, Andy Burnham, has put devolution and economic growth at the heart of his government’s narrative. London [...]
Citi boss fires warning at government over banking tax August 5, 2026 The boss of Citigroup has warned the government that “money votes with its feet” and there are “very viable” alternatives to London should Andy Burnham decide to hit the banking sector with higher taxes. Dame Jane Fraser, a Scot credited with turning around the third largest bank in the US, said she was “concerned” at [...]
Watch out, Burnham August 5, 2026 Looking for an insight into the kind of person Andy Burnham really is? You could do a lot worse than checking his wrist, says Andy Blackmore. If you think it’s been a long time since we had a hip PM, think no longer, for the new inhabitant of No10 wears his credentials on his wrist. [...]
David Brent was supposed to be a satire, now he looks like a model for political leaders August 5, 2026 Attention-seeking, self-absorbed and desperate to be liked, David Brent was meant to embody everything a leader should not be – but today’s media landscape rewards the very qualities Ricky Gervais satirised, says Tim Focas A Tiktok clip has gone viral for comparing Andy Burnham to David Brent. His cheesy mannerisms, dad dancing and guitar playing [...]
What Burnham could learn from BP’s pragmatism August 5, 2026 In 2020, BP unveiled a “major, necessary step in support of our purpose to reimagine energy for people and our planet.” The new strategy – “performing while transforming” – would see the firm “significantly scale-up our low carbon energy business” as part of a commitment “to become a net zero company by 2050 or sooner [...]
Where are Andy Burnham’s economic advisers? August 5, 2026 Andy Burnham’s allies boasted that highly-regarded economists had been lured as advisers. Mauricio Alencar and Ali Lyon report on the non-appointments of some of Britain’s best economists – and what the Prime Minister and Chancellor’s new teams look like. In the end, all it took was a few rumours. In the weeks leading up to [...]
Big bank bosses on alert as tax noise gets louder under Burnham August 5, 2026 Banks have delivered booming profits for the first half of the year. In this week’s column Samuel Norman takes a look at how the calls for a tax rise on the sector will get louder under the new Prime Minister. “The saxophones are getting louder” is the internet’s new saying to depict growing anxiety. If you [...]