IMF offers UK modest growth upgrade despite fresh Iran war tension July 8, 2026 The UK economy is set to grow just one per cent this year, according to the The International Monetary Fund (IMF), following a modest revision from its previous gloomy prediction. The IMF said the consequences Iran war, which has led to continued disruptions across the economically-critical Strait of Hormuz, would soften momentum across the UK [...]
Andy Burnham will be ‘in hock’ to the bond markets whether he likes it or not June 24, 2026 With the highest gilt yields in the G7, more borrowing is no longer an option for the next Prime Minister. That leaves the traditional options: raise taxes, cut spending or embark on more ambitious supply-side reforms in areas such as planning, says Daniel Mahoney Governments needing money usually have three options: tax more, spend less, [...]
Iran to close Strait of Hormuz as Trump threatens toll June 21, 2026 Iran’s top military command has said it will shut the Strait of Hormuz in response to alleged violations of the ceasefire agreement despite President Trump’s threats to impose a toll if the stretch of water is closed off. The Iranian leadership said the crucial shipping passage will be closed to vessel traffic as the “first [...]
As it happened: Stocks sink after Fed and Bank of England opt for hawkish hold; Oil price tumbles June 18, 2026 Welcome back to the Morning Wire liveblog. Interest rates were left unchanged at 3.75 per cent in Bank of England’s monetary policy committee meeting today as rate-setters wait to find out whether the Iran war peace deal holds up. The Bank’s decision followed Thursday’s inflation data, which stayed below undershot expectations after coming at 2.8 [...]
Industry warns Iran war spike to come as food inflation falls June 17, 2026 The surprise drop in food and drink inflation seen in May is likely to be short-lived, as the impacts of the war in Iran are due to take hold, leading industry figures to warn. The rate of inflation of food and non-alcoholic drinks fell from three per cent in April to 2.2 per cent in [...]
Shipping chief: Hormuz tankers reluctant to leave Gulf despite Iran deal June 17, 2026 Shipping firms remain reluctant to navigate the Strait of Hormuz sea passage despite this week’s peace deal, according to a boss of the industry’s lobby group who warned that trade volumes will not return to full capacity until next year. Peter Aylott, director of policy at the UK Chamber of Shipping, told Morning Wire that [...]
US and Iran agree to peace deal’s text, negotiators say June 13, 2026 The US and Iran have agreed to the wording in a peace deal for the war to end and the Strait of Hormuz to re-open, according to negotiators. Pakistani prime minister Shebaz Sharif, who has hosted peace negotiations, said there was a “final, agreed-upon text@. He also added in a post on X that “peace [...]
As it happened: Starmer dealt defence blow as investors react June 11, 2026 This was the Morning Wire liveblog on Thursday 11 June. John Healey resigned as defence secretary over a lack of funding for the armed forces, heaping pressure on Sir Keir Starmer. Industry officials reacted with regret and paid tribute to Healey. The FTSE 100 also climbed on Thursday to defy fresh tensions between Iran and [...]
Oil prices rise as Trump warns of ‘very hard’ strikes against Iran June 11, 2026 President Trump has escalated his threats against the Iranian regime, announcing on social media that the US will hit Iran “very hard” tonight if a peace deal cannot be reached. In a post on his Truth Social platform, the US President suggested that American forces could take Kharg Island, a crucial oil export artery for [...]
Wizz Air ‘resilient’ after route cancellations wipe out profit June 11, 2026 Wizz Air has insisted its decision to halt operations in Vienna and Abu Dhabi positioned the airline for “long term resilience,” despite causing net profit to drop by nearly 99 per cent. The FTSE 250-listed airline said its slump in net profit from €214m to €1m was due to the “one-off headwinds” of these route [...]