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Chancellor Rachel Reeves has eliminated post-crisis banking rules aimed at enhancing safety in the City to stimulate growth. The changes reduce ring-fencing requirements, allowing retail banks to engage in hedging activities. While the reforms are intended to boost lending and job creation, Labour's internal leadership challenges may impact their implementation. The Treasury claims these adjustments could enable banks to provide an additional £80bn in support to businesses. Industry leaders have welcomed the reforms, emphasizing their potential to enhance the UK's economic competitiveness.

- Chancellor Rachel Reeves has canceled banking rules aimed at enhancing safety in the financial sector post-financial crisis to spur economic growth.  
- The changes will reduce the number of services that must remain segregated and allow retail banks to engage in certain hedging activities, claiming it will support growth and create jobs.  
- The new rules are expected to provide banks with up to £80 billion in additional support for businesses and facilitate more shared operations between retail and investment banking.

The telegraph

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Barclays

Reeves scraps post-crisis banking rules  in scramble to boost growth

UK consumer price inflation decreased to 2.8% in April from 3.3% in March, contrary to economists' expectations of a 3% drop. The Bank of England raised its inflation forecast due to energy price shocks from the US-Israel war, predicting inflation could reach 6.2% by early 2026. Finance Minister Rachel Reeves is set to announce measures to alleviate living costs, including a potential cancellation of a fuel-duty increase. The weak job market may hinder wage growth, impacting inflation dynamics.

- In April, UK consumer price inflation slowed to 2.8%, down from 3.3% in March, with most economists expecting a drop to around 3% due to a previous spike in regulated prices now excluded from annual comparisons.  
- The Bank of England had previously noted the highest inflation among G7 countries and warned that energy price shocks from the ongoing conflict could push inflation to 6.2% by early 2026.  
- The UK government is expected to announce measures to lower living costs, including potentially scrapping a planned fuel tax hike, while concerns remain about the weak labor market hindering wage growth.

Businesstimes News

UK inflation slows to 2.8% in April

UK inflation slowed to 2.8% in April, down from 3.3% in March, aided by a reduction in the household energy price cap. This easing suggests that the impact of rising fuel costs due to the Iran war has not significantly affected UK households as anticipated.

- UK inflation decreased to 2.8% in April, driven by a reduction in the household energy price cap.  
- The Office for National Statistics reported a decline from March’s inflation rate of 3.3%, indicating the effects of the Iran war have not significantly impacted UK households.  
- Economists had anticipated a higher inflation rate due to rising fuel costs.

UK inflation slows to 2.8% as energy price cap softens impact of rising fuel costs

The FTSE 100 recovered from an early decline, rising 0.16% to 10,347.20, supported by strong buying in mining stocks like Fresnillo and Antofagasta. Marks & Spencer saw a 3.7% increase after reporting profit growth. Inflation dropped to 2.8% in April, boosting market sentiment, despite concerns over a U.S.-Iran peace deal. However, Experian's shares fell nearly 5% despite announcing a $1 billion buyback.

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Antofagasta plc

Anglo American plc

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Marks and Spencer Group plc

Babcock International Group PLC

IG Group Holdings plc

Rolls-Royce PLC

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Bunzl plc

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International Consolidated Airlines Group SA

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Melrose Industries PLC

Experian PLC

RELX PLC

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Reckitt Benckiser Group plc

Sage Group plc

Burberry Group plc

Tesco PLC

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ANGLO AMERICAN SPON ADR EACH REP 0.5 ORD (P/S)

Rolls-Royce

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RECKITT BENCKISER GROUP PLC SPON ADR EACH REP 0.20 ORD (P/S)

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Burberry

FTSE 100 Recovers After Weak Start; Miners Move Up

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UK shares saw a slight increase, with the FTSE 100 up 0.13% and the FTSE 250 up 0.29%, following lower-than-expected April inflation at 2.8%. Analysts debate the necessity of rapid rate hikes by the Bank of England, while some caution that inflation may rise again due to higher oil prices. Notable stock movements included a 1.6% rise in aerospace and defense stocks and a 4.2% increase for Marks & Spencer, which anticipates profit growth this year.

Fidelity

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ING Groep

UK shares edge higher as benign inflation data reassures investors

FTSE 100 closed 0.1% higher as bond yields rose and rate hike fears eased, with June hike odds dropping to 29.1%. Weaker UK hiring and higher unemployment influenced market sentiment. Medical equipment and retail sectors saw gains, while miners declined due to lower metal prices; IG Group surged over 10%.

FTSE 100 edges up as bond yields climb and rate hike bets ease

IG Group's share price has surged to an all-time high of 1,717p, driven by strong financial results and improved forward guidance. The company reported a 19% revenue increase in Q1 to £331 million and expects organic revenue growth of 10-15%. With a 53% rise this year, IG Group leads the FTSE 100 Index. However, its Relative Strength Index indicates it may be overbought, suggesting potential profit-taking or a rise to 2,000p.

Invezz

IG Group share price soars to all-time high — But Is It overbought?

UK regular wages grew 3.4% in early 2026, meeting economist expectations, while unemployment rose to 5% in March from 4.9% in February. This marks a 0.5 percentage point increase year-on-year. Ongoing inflation concerns are exacerbated by rising energy prices linked to the Iran war, affecting the Bank of England's policy decisions.

- Regular UK wages increased by 3.4% in early 2026, meeting economist expectations despite a weaker labor market.  
- The unemployment rate rose to 5% in March, up from 4.9% in February and higher than the previous year by 0.5 percentage points.  
- Inflation remains a concern due to rising energy prices linked to the Iran war, affecting the Bank of England's policy decisions.

UK wage growth steady as unemployment rises to 5%

VGOV

The pound fell 0.2% to $1.3502 amid a political crisis in the UK following the resignation of health minister Wes Streeting, increasing pressure on Prime Minister Keir Starmer after local election losses. The currency also dropped to 86.68 pence per euro. Meanwhile, the 10-year UK gilt yield decreased by 4.3 basis points to 5.026%, while London's FTSE index rose by 0.38%.

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Thomson Reuters

Pound dips as political crisis engulfs Britain

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The UK housing market remains subdued due to the ongoing impact of the Iran war, with high mortgage rates and inflation fears dampening buyer and seller demand. The Royal Institution of Chartered Surveyors (RICS) reported a negative buyer index of -34% in April, indicating reluctance among Brits to engage in the market. Average house prices continue to decline, particularly in London and the South East. Experts predict that without clearer inflation and borrowing cost paths, market activity will remain low, with potential political changes adding further uncertainty.

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Housing market ‘still in grip’ of Iran war slump

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Reeves scraps post-crisis banking rules in scramble to boost growth