Miliband opponents pour cold water on Chancellor hopes July 15, 2026 Opponents of Ed Miliband believe that they have quashed his bid to become Chancellor, according to reports, in a sign of division within Andy Burnham’s camp just days before he is due to take over as Prime Minister. While the former Manchester Mayor has refused to be drawn on his Cabinet picks, Miliband, a key [...]
Thames Water to run out of money by end of the year July 15, 2026 Thames Water is set to run out of cash by the end of the year as the UK’s largest private utility company struggles to secure a finalised rescue deal. The embattled water firm – which serves around 16m customers, mostly in London and the South East – said in its latest financial report that it [...]
As it happened: Stocks reverse losses after Trump threatens harder strikes on Iran; Oil at four-week high July 15, 2026 Welcome back to the Morning Wire liveblog. Oil prices have reached a four-week high after the Strait of Hormuz became too unsafe for ships travel through following the exchange of strikes between the US and Iran. Brent crude – the international benchmark for oil prices – tipped over the $87 per barrel mark on Tuesday [...]
Argentina’s already beating England… on economic freedom July 15, 2026 Javier Milei’s free market reforms are turning the Argentinian economy around. The UK could learn a few lessons from this Margaret Thatcher fan, says Alys Denby When Britain took on Argentina in the Falklands war, we were fighting a brutal military dictatorship which tortured its citizens and invaded the sovereign territory of ours. Tonight, England [...]
Bank of England governor opens door to ‘simplifying’ financial rulebook July 14, 2026 Andrew Bailey opened the door to simplifying the UK’s financial rulebook as he joined Rachel Reeves for the Chancellor’s third and final Mansion House speech on Tuesday evening. The Bank of England governor distanced himself from capping taxes on banks and financial institutions, but said existing rules should help “flush out supranormal profits” by “reducing [...]
City watchdog eyes rules overhaul for UK asset managers July 14, 2026 The UK’s financial watchdog has proposed a host of reforms aimed at simplifying reporting for asset managers and end industry confusion over complicated regulations. The Financial Conduct Authority (FCA) said the modernisation of the rules will tailor requirements for asset managers, cut costs for firms and provide better data for the sector, saving managers £128m [...]
JP Morgan bags record profit – but Dimon warns of risks shifting ‘below the surface’ July 14, 2026 JP Morgan secured the highest quarterly profit in US banking history in its second quarter but chief executive Jamie Dimon tempered the celebration with a warning that risks in the global economy were “shifting below the surface like tectonic plates”. The Wall Street giant recorded a 41 per cent jump in net income to $21.2bn [...]
Tax online businesses more to save Britain’s struggling high streets July 14, 2026 Labour promised to reform business rates to level the playing field between online and physical businesses. It's time to make true.
Bank of England warns Burnham of UK economy’s ‘big issue’ July 14, 2026 The Bank of England has warned Andy Burnham that economic growth remains the “big issue” facing the UK economy as he prepares to take the keys to Number 10. Andrew Bailey, the central bank governor, told policymakers on Tuesday that the UK has had “low growth for the best part of 16 to 17 years”. [...]