Barclays mortgage subsidiary makes £5bn balance sheet whoopsie May 12, 2026 Don’t you just hate it when you mix up millions with billions? No one is immune from such mistakes. Including, as it turns out, one of Britain’s biggest banks. A subsidiary of Barclays, the Kensington Mortgage Company, last week published its accounts. While revenue was up slightly to £83.4m, pre-tax profit fell by 90 per [...]
Going for growth? Labour groups set out competing visions for economic strategy May 12, 2026 Competing groups of Labour MPs have published contrasting growth plans on Tuesday, just as Sir Keir Starmer’s leadership stood on the brink. Both the left-wing Tribune group of MPs and the more centrist Labour Growth Group published pamphlets setting out a number of ideas for growth and tax reform. Tribune’s report, led by former transport [...]
Life after Starmer: What could a new Labour prime minister mean for your money? May 12, 2026 It could soon be time to face the music for Keir Starmer after dozens of MPs called for the Prime Minister to throw in the towel, which could unleash months of speculation and uncertainty. Leading frontrunners for the top job include the Manchester mayor Andy Burnham, former deputy PM Angela Rayner and health secretary Wes [...]
‘Bond market meltdown’: UK borrowing costs highest since 1998 as Starmer fights for survival May 12, 2026 Warnings of a “bond market meltdown” flashed through the City on Tuesday after government borrowing costs soared as pressure mounted on Sir Keir Starmer’s future in Downing Street. For weeks, City investors have been on high alert as fears mounted that a mass rebellion would be triggered after devastating local election results. Traders fear the [...]
On the Beach shares slide as Brits delay booking holidays May 12, 2026 On the Beach has suffered one of its biggest-ever single-day stock selloffs amid investor fears over a slowdown in holiday bookings. Shares in the Manchester-based business plunged 17 per cent to 140p after the London-listed business said it saw a more than 12 per cent fall in sales to £52.2m for the six months to [...]
Wealth managers shares fall amid Starmer political storm May 12, 2026 A host of the City’s top listed wealth managers suffered sharp sell-offs on Tuesday morning as questions over Starmer’s future caused government borrowing costs to soar. Investors have been on alert since fears of a rebellion against Starmer began after last week’s local election results, with the spike in gilt yields now triggering a sell [...]
Voters – and markets – fear a lurch to the left under new Labour PM May 12, 2026 A majority of voters are worried that a change of Labour leadership would drag the government further left, as support grows for lower taxes and less public spending. The latest Morning Wire/Freshwater Strategy poll of UK voters, conducted after the devastating council election results for Labour, also found 29 per cent of voters preferred Manchester [...]
British Land and RLAM secure robotics AI firm for London ‘innovation’ cluster May 12, 2026 London’s AI property boom is gathering pace after British Land and Royal London Asset Management secured another major tech occupier at Regent’s Place, Morning Wire can reveal. Robotics startup Humanoid has signed for 42,000 sq ft at One Triton Square, pushing the building to 94 per cent let just six months after completion, as demand [...]
London’s prime property market isn’t collapsing May 12, 2026 Contrary to popular belief, London's prime property market isn't failing. But it is fundamentally changing, writes David Austin.
Changing the leader won’t save Labour – or the country May 12, 2026 The well-intentioned but hapless Labour backbencher, Catherine West, spent the weekend warning that if she didn’t like Keir Starmer’s speech she’d launch a leadership challenge in a bid to flush out more serious candidates. In the end, she backed down, but has called for a transition of power to a leader in September. She has [...]