Private equity firms eye valuation gap as City falls to takeovers July 20, 2026 The London Stock Exchange has seen a sharp uptick in takeover premiums this year as a deals spree from led by private equity firms and foreign buyers accelerates. The average price paid by acquirers relative to companies’ share prices has hit 45 per cent, according to data from AJ Bell. Foreign buyers account for 86 [...]
Victory wasted: The cautionary tale of Keir Starmer July 20, 2026 Keir Starmer sold himself as a non-politician, and proved again and again why political skills matter, writes Eliot Wilson.
‘Pro-business’ Burnham eyes Reynolds return to top business job July 18, 2026 Andy Burnham is planning to bring Jonathan Reynolds back as business secretary as the incoming prime minister moves to deliver on his pledge to lead a “pro-business” government. Reynolds, who served as business secretary until last September before becoming chief whip, is expected to return to the department when Burnham unveils his cabinet this week, [...]
Thames Water creditors expect Burnham talks despite legal contigency plans July 18, 2026 The creditors bidding to rescue Thames Water remain confident they will be able to present a revised takeover proposal to Andy Burnham’s government, despite preparing for the possibility ministers reject the deal, a source told Morning Wire. People close to the London & Valley Water (L&VW) consortium said they expected to engage with the new [...]
Octopus tells Burnham to ‘cut bills’ with £189 energy plan July 18, 2026 Octopus Energy has urged incoming prime minister Andy Burnham to overhaul Britain’s electricity market, saying the changes could cut the average household bill by up to £189 a year. The supplier said reforming wholesale electricity pricing would save households around £114 a year, and also called for energy levies to be moved from electricity bills [...]
Burnham to approve North Sea oil and gas drilling in policy blitz July 17, 2026 Incoming prime minister Andy Burnham is set to announce new drilling for oil and gas in the North Sea within days of taking office as part of a policy blitz, according to reports. Burnham’s team has asked the civil service to draw up plans to approve drilling projects at the Jackdaw gas field and Rosebank [...]
Thames Water in the dark as Burnham mulls embattled utility’s future July 17, 2026 Thames Water and the group of creditors vying to buy it have had no engagement with Andy Burnham’s team as the incoming prime minister weighs whether to take full public control of the struggling utility, Morning Wire understands. Burnham said earlier this year that Thames Water should be nationalised and has repeatedly called for greater [...]
Mahmood called for banker bonus tax to fix youth unemployment July 17, 2026 Shabana Mahmood has previously called for a tax on banker bonuses to fix youth unemployment in a move that will renew fears the sector could be targeted for a cash grab. The front-runner to be Andy Burnham’s Chancellor was a staunch supporter of a bill set out by Labour in opposition that sought to levy [...]
As it happened: Stocks rise despite IEA warning of ‘critical’ oil issue July 17, 2026 Welcome back to the Morning Wire liveblog. Oil is on track to gain around 12 per cent for the week after the continued escalation of strikes between the US and Iran. Brent crude – the international benchmark for oil – is holding steady around the $85 per barrel mark after US’ multiple strike offensives against [...]
City sizes up mystery Mahmood July 17, 2026 Executives and business groups have begun sizing up Shabana Mahmood and her past policy positions as they search for ways to engage the woman tipped to become Andy Burnham’s Chancellor next week. The emergence of Mahmood, who hails from the right of the party and cracked down on immigration in her role as home secretary, [...]