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Nats chief executive Martin Rolfe is facing mounting calls to resign after another air traffic control failure caused more than 2,000 flight cancellations and disrupted around 330,000 passengers. Transport secretary Heidi Alexander said the outage was not unavoidable and ordered both a rapid Nats review and an independent Civil Aviation Authority investigation. Airline leaders argue the latest failure exposes a recurring lack of resilience following major outages in 2023 and 2025. Ryanair chief Michael O’Leary said: “We don’t need more ‘investigations’,” while Airlines UK demanded a clear contingency improvement plan. Rolfe, who earned £1.5m last year, has retained government backing for now. Nats has ruled out a cyberattack and says the fault involved its flight processing system. Passengers directly affected are unlikely to receive compensation because the disruption may be classed as extraordinary circumstances.

 

The Daily Telegraph

The Guardian

The Independent

The Times

JP Morgan CEO Jamie Dimon met the Prime Minister and the Chancellor in London on Wednesday as the Wall Street chief sought to persuade the Labour Government not to increase taxes on banks. The meeting comes as John Healey looks to find billions of pounds for public services ahead of his inaugural Budget. Andy Burnham is under pressure from the Greens and unions to hike taxes on banks, but Dimon and other bankers, such as Citi boss Jane Fraser, have warned against sector-specific taxes, arguing that they could have "adverse consequences." UK Finance chief David Postings has also written to Healey warning about the consequences of targeting the industry while the FT cites John Godfrey, at the TheCityUK, who says: "Banks already pay a higher tax rate in the UK than in any other major financial centre. It is vital that the UK remains competitive in the face of mobile global capital and talent."

 

Bloomberg

Financial Times

The Daily Telegraph

The Times

City AM

Innovate Finance, representing the UK's fintech sector, has urged the Government to eliminate stamp duty on shares to rejuvenate the struggling IPO market. The group argues that the current 0.5% levy hampers domestic investment and makes capital raising more expensive. Despite a temporary stamp duty holiday introduced by former Chancellor Rachel Reeves, new listings have not surged. Innovate Finance said the tax "exposes UK listed firms to a reliance on overseas capital, takeovers and relocation."

 

City AM

The Times reports that hedge fund billionaire Chris Rokos relocated to Greece due to concerns over a potential exit tax on wealthy individuals. Rokos paid £330m to the Treasury last year. Sources say he was "terrified" by the proposed policy, which could impose a 20% capital gains tax on business assets for those leaving the UK. The hedge fund Millennium Management is also considering opening an office in Athens amid reports that the country is actively courting hedge funds with a new tax regime that offers significant benefits, such as a 5% tax on bonuses and carried interest for qualifying executives relocating to Greece, down from 15%.

 

Financial Times

The Times

Concerns are rising in the UK after Anthropic blocked access to its latest model, Claude Mythos 5.1. This decision, made under President Donald Trump's orders, prevents the UK's AI Security Institute (AISI) from testing the model. Politicians, including former Armed Forces minister Al Carns and MP Danny Kruger, expressed alarm over the implications for national security. Kruger stated: "The UK is losing access to frontier models... This jeopardises British national security." Meanwhile, Jacob Coxon, an Anthropic researcher, has quit over concerns that the company and its rivals are competing to build systems that could wipe out humanity. 

 

Daily Mail

Financial Times

The Daily Telegraph

UK datacentres are projected to create only 10,400 jobs, significantly lower than the 40,000 claimed by TechUK, according to a report by Verdant. The analysis indicates that existing datacentres have generated fewer than 4,400 jobs, averaging 8.6 jobs per megawatt of energy consumed. Verdant's co-director, James Meadway, said: "We're being rushed into supporting a frantic pace of datacentre buildout on very flimsy economic grounds." The government has disputed Verdant's findings, arguing that the report relies on misleading metrics and overlooks the broader economic benefits of digital infrastructure.

 

The Guardian

McLaren, the British supercar manufacturer, will create 1,000 jobs following a £450m investment in its Woking technology centre. This expansion comes after its merger with EV startup Forseven and acquisition by Abu Dhabi's CYVN, which plans to invest £1.4bn over five years for a product overhaul. Despite job cuts announced by rivals like Jaguar Land Rover and Volkswagen, McLaren aims to diversify its offerings, including a new SUV model. Lachlan Buirds, managing director of Edale, said: "McLaren's investment is a welcome reminder that UK manufacturing is a sector with a future."

 

Financial Times

The Guardian

The I

Rising economic inactivity among people aged 50-64 is becoming a significant workforce challenge, despite unemployment in the group remaining relatively low. Long-term sickness, musculoskeletal conditions, age discrimination and inflexible working practices are contributing to experienced employees leaving work early. Sir Charlie Mayfield, lead author of the Keep Britain Working review, said older workers bring “skills, knowledge and professional relationships built up over decades”. Employers are being encouraged to intervene earlier on health problems, redesign roles rather than lose staff completely, offer flexible working and ensure equal access to training. Age-inclusive recruitment could also help older jobseekers return, while retaining workers longer could strengthen pensions, company skills and wider economic growth.

 

The Times

Scottish companies are experiencing a rise in employment, according to the Royal Bank of Scotland's latest Growth Tracker. The report indicates a third consecutive monthly increase in job creation, attributed to company expansions and new projects. Judith Cruickshank, Scotland board chair, said: "Sustained job creation, despite challenging demand conditions, suggests that firms' improved confidence is feeding through to hiring activity." However, Scotland recorded a contraction in output, with new orders declining for nearly two years. The inflationary environment remains challenging, but cost pressures are easing.

 

The Scotsman

The hospitality sector could gain £2.3bn by employing young people seeking work, according to a report by Hilton and WPI Economics. The analysis reveals that hiring a young person not in education, employment, or training (Neet) could generate over £152,000 in economic value annually. However, 85% of hospitality leaders cite high taxes as a barrier to offering entry-level roles.

 

Daily Mail

Daily Mirror

The Times

Restrictive non-compete clauses are limiting career mobility for employees in fast-growing companies, the Times reports. Research from the Organisation for Economic Co-operation and Development indicates that 15% to 28% of private-sector workers are affected, impacting wage growth and innovation. In the UK, enforcement perceptions influence behaviour more than actual enforceability, the study found.

 

The Times

Retail shareholder groups are opposing the Government's proposal for virtual-only AGMs. The consultation, launched by the Department for Business, Innovation, Science and Trade, suggests that public companies could hold virtual AGMs with shareholder consent. Mark Northway, director of ShareSoc, stressed the need for in-person meetings to hold directors accountable. Concerns arise that institutional shareholders may dominate voting power over retail investors. Lord Lee of Trafford advocated for hybrid AGMs, allowing both virtual and physical attendance, to ensure shareholder rights are upheld.

 

The Times

Todd Sisitsky will join CVC Capital Partners as co-chief executive in Q1 2028, succeeding Rob Lucas. Sisitsky, previously TPG's second-in-command, will work alongside Peter Rutland, CVC's president. Lucas, who has led CVC since its IPO in 2024, will remain with the firm as a key figure in its private equity funds.

 

Financial Times

The I

Lisa Jacobs, the CEO of Funding Circle, will step down by next September after leading a successful turnaround. Under her leadership since early 2022, the small business lender reported pre-tax profits of £24.1m for the first half of the year, up from £6m the previous year. Despite this, shares fell 8.7% to 210p following the announcement of her departure. Jacobs' tenure saw the stock rise approximately 88%.

 

The Times

Swiss luxury group Richemont has promoted Anton Rupert to non-executive co-deputy chair, advancing succession planning as the family prepares for future leadership amid governance concerns.

 

Financial Times

Suppliers for Jaguar Land Rover (JLR) are seeking defence and aerospace contracts due to concerns over potential job losses from cuts at the carmaker. A group of 15 manufacturers, including Evtec and Sovereign Industrial Group, is exploring ways to shift production lines to these sectors as JLR plans to cut 4,000 jobs and save £1.7bn. David Roberts, founder of Evtec, noted that JLR's status as an anchor customer is crucial for many suppliers, and losing it could impact their ability to serve the wider industry, including brands like Bentley and Aston Martin.

 

The Daily Telegraph

SThree, a recruitment company with a market capitalisation of £367m, has received an unsolicited takeover offer from US rival Circle8. The company stated that the approach is "preliminary and highly conditional" and did not disclose the offer's value. Under City rules, Circle8 must announce a firm intention by October 7. SThree's shares rose by 10.2% to 303½p, their highest since 2024. Despite this interest, SThree warned shareholders to take no action, noting that there is "no certainty" a deal will occur. Timo Lehne, SThree's CEO, remains cautiously optimistic about future growth.

 

The Times