Financial services bankruptcies rise as MFS collapse ripples through sector July 13, 2026 The number of financial services companies entering administration spiked sharply in the first half of 2026 on the back of rising costs and the ripple effects of the collapse of mortgage provider Market Financial Solutions, according to a risk advisory firm. A total of 649 companies across sectors went under across the UK between January [...]
Rachel Reeves to unveil next steps for ring-fencing reform at Mansion House July 13, 2026 Rachel Reeves will outline the next steps of her ring-fencing reforms at Mansion House on Tuesday, Morning Wire can reveal, in what is expected to be one of her last acts in the Treasury. The Chancellor will launch a consultation to seek industry input on the implementation of a package of reforms announced in May, including the [...]
‘Brutal onslaught’: Brewery McMullen’s takes aim at Reeves’ tax hikes after pub sell-off July 13, 2026 One of the UK’s biggest family-owned brewers has taken aim at Chancellor Rachel Reeves’ tax hikes after it sold off more than a quarter of its pub estate. Hertfordshire-based McMullen’s, which owned over 100 pubs before offloading 30 of them in January, has warned it is likely to struggle to stay profitable in the years [...]
Former Virgin Money chief set to lead Financial Reporting Council July 13, 2026 The former chief executive of Virgin Money has been selected as the government’s preferred candidate to lead the UK’s accountancy regulator following the expected departure of Sir Jan du Plessis. Dame Jayne-Anne Gadhia was named by Business and Trade Secretary Peter Kyle to replace du Plessis for a four-year term overseeing the Financial Reporting Council [...]
Andy Burnham is utterly delusional July 13, 2026 Andy Burnham has pledged to “value and respect” every member of the PLP and to favour consensus building over point scoring. We’ll see how long that attitude lasts once he faces his first backbench rebellion, says Eliot Wilson Andy Burnham’s premiership is only a week away. By Friday last week, he had received the backing [...]
As it happened: Choppy day for FTSE 100 after Iran closes Strait of Hormuz as strikes ramp up July 13, 2026 Welcome back to the Morning Wire liveblog. Markets are returning from the weekend to face another geopolitical shock after Iran confirmed it had closed the Strait of Hormuz once more. The narrow waterway that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea had slowly seen a pick up in traffic [...]
Sadiq Khan lobbies Burnham to appoint Miliband as Chancellor July 11, 2026 London mayor Sadiq Khan has weighed into the debate over who should be the next chancellor, lobbying Andy Burnham to select Ed Miliband for the job. In a private discussion with Burnham, Khan argued that Miliband had both the political skills and economic expertise to deliver Burnham’s agenda, including devolving powers to city regions, people [...]
The devastating prognosis for the UK’s public finances July 11, 2026 While much of the media obsesses over Nigel Farage’s fight with a man dressed as a bin, I have something more sobering to discuss as we kick off the weekend. The Office for Budget Responsibility’s report into fiscal risks and sustainability, published this week, is comfortably the most alarming yet. This is an annual review [...]
Rachel Reeves’ legacy of tinkering with the City is not enough, says Mel Stride July 9, 2026 Sir Mel Stride has branded Rachel Reeves’ legacy in government as mere “tinkering” with City reform as the top Tory predicted her successor will create a “hostile” environment for the banking sector. In an interview with Morning Wire, the shadow Chancellor branded Reeves’ two-years in the Treasury as “managerial incrementalism,” adding it was “not enough”. [...]
Burnham’s cheerfulness could turn the economy around July 9, 2026 Confidence is an elusive but essential determinant of the course of the economy ignored by Reeves' doomsterism. Burnham could change that.