Author: Blake Anderson

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.London was the only UK region where labour productivity fell below pre-pandemic levels in 2023, official data shows, a trend that has been narrowing the capital’s efficiency lead since before the financial crisis.Output per hour worked in London fell at an average annual rate of 0.3 per cent between 2019 and 2023, according to figures published by the Office for National Statistics on Thursday. The UK as a whole posted 0.7 per cent average growth over the same period, with all other…

Stay informed with free updatesSimply sign up to the UK interest rates myFT Digest — delivered directly to your inbox.The Bank of England has held interest rates at 4.25 per cent, in a widely expected decision after new data this week showed UK inflation remained stubbornly above its target.The Monetary Policy Committee’s decision followed a quarter-point cut by the BoE in May amid concerns over the impact of US President Donald Trump’s aggressive tariff policy. “Interest rates remain on a gradual downward path, although we’ve left them on hold today,” said Andrew Bailey, the BoE’s governor. “The world is highly…

This article is an on-site version of our Inside Politics newsletter. Subscribers can sign up here to get the newsletter delivered every weekday. If you’re not a subscriber, you can still receive the newsletter free for 30 daysGood morning. Westminster and the world are holding their breath to see what Donald Trump will do. Again. You can see why Downing Street prefers to talk about the next UK general election. Some thoughts on that below. Inside Politics is edited by Harvey Nriapia today. Follow Stephen on Bluesky and X. Read the previous edition of the newsletter here. Please send gossip,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Lockheed Martin has approached the UK government to offer assistance in the construction of a new missile defence system for Britain, amid rising geopolitical tensions and moves by the US to invest in a “Golden Dome” project.Frank St John, Lockheed’s chief operating officer, said the US defence group believed it could offer critical capabilities to the UK as the government decides on what approach to take. Labour’s recent strategic defence review highlighted the importance of air defence systems but did not include…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rachel Reeves has appointed Alex Depledge, a champion of female start-ups, as the UK Treasury’s first entrepreneurship adviser, as the chancellor tries to improve her government’s relationship with high-growth companies.Depledge, who has set up a number of businesses including the architectural tech company Resi, will work two days a week at the Treasury, helping to develop policies to boost start-ups ahead of the Autumn Budget.Reeves’ allies admit that while the Treasury has well-established contacts with big companies, the City of London and…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sixty per cent of UK universities featured in a leading global ranking have seen their position slip this year, as the sector struggles to keep up with increasing competition from Asia and mounting financial pressures.The ratings of 54 out of the 90 British universities in the annual QS World University Ranking fell, including almost half of the elite Russell Group of research-intensive institutions.High-ranking universities that registered steep declines included Edinburgh, which dropped seven places to 34th, and the London School of Economics…

Stay informed with free updatesSimply sign up to the Utilities myFT Digest — delivered directly to your inbox.Thames Water’s creditors, who are providing a £5bn backup rescue of the utility, are demanding waivers that would exempt the UK’s largest water company from key environmental laws.The lenders are calling on the government and regulator Ofwat to grant licence changes and even emergency legislation to shield Thames Water from laws and regulations, according to documents seen by the Financial Times.“It is a core requirement of the creditors that the government demonstrates its commitment to creating the conditions for delivery of the transformation…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldSir Keir Starmer has put his cabinet on alert for a possible US attack on Iran, just 24 hours after insisting Donald Trump had given no indication he was about to “get involved in this conflict”.British officials said the situation was “grave and volatile”, while the prime minister’s team discussed whether the president might seek to strike Iran’s nuclear facilities from the joint US-UK air base at Diego Garcia.Britain has so far stayed out of the Israel-Iran war and is…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sir Keir Starmer’s government has made only minor concessions on its controversial welfare bill as he prepares to face what is likely to be the biggest backbench rebellion of his premiership next month.Labour MPs involved in organising rebels ahead of a crunch vote on the welfare reforms, outlined in parliament on Wednesday, said more than 160 disagree with the proposals, with about 70 currently stating they will oppose the measure in the House of Commons. One added there were likely to be MPs…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Australia’s largest infrastructure investor has bought stakes in three UK airports from Ontario Teachers’ Pension Plan, marking the latest deal in the travel industry as investors capitalise on a post-pandemic rebound.Macquarie Asset Management said on Wednesday it had acquired 25 per cent of London City airport, a 55 per cent share in Bristol airport, as well as a 26.5 per cent stake in Birmingham airport. It did not disclose the value of the stakes. The acquisitions come with Macquarie’s ownership of infrastructure…