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 [...]
Tom Kerridge: No good restaurant has ever been run by accountants July 14, 2026 No good restaurant or pub has ever been run by accountants, celebrity chef Tom Kerridge told Morning Wire as he pushes for a VAT cut for hospitality firms. The TV personality and restaurateur has spearheaded lobbying efforts for the government to slash VAT for hospitality companies, a move which he says would offer the struggling [...]
Sadiq Khan urges tougher Ofcom action as UK prepares social media ban rules July 14, 2026 Sadiq Khan has called on social media companies to change algorithms that promote violent and misogynistic material, as London launches a £5m programme to tackle the effect of online harms on young people. The mayor of London also believes the state should be ready to intervene where platforms cannot or will not change their recommendation [...]
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.
Andy Burnham pressured to safeguard jury trials after legal backlash July 14, 2026 The country’s criminal barristers have demanded an urgent guarantee from incoming Prime Minister Andy Burnham to save jury trials. The Criminal Bar Association (CBA) has ramped up pressure on Burnham to officially drop “misguided” clauses in the Courts and Tribunals Bill that would curb the historic right to a trial by your peers. The controversial [...]
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”. [...]
As it happened: FTSE 100 recovers after oil surge dampens mood; Strikes in the Strait of Hormuz July 14, 2026 Welcome back to the Morning Wire liveblog. Oil prices are marching higher after the latest wave of military action in the Middle East following the US reinstating its blockade on imports from Iran. Brent crude – the international benchmark for oil prices – surged above $84 per barrel on Tuesday, bringing gains for the week [...]