AGP Executive Report
Last update: 9 hours agoServices slowdown: Britain’s services sector shrank again in June, with the S&P Global UK services PMI falling to 48.8 (weakest since Jan 2023) as Iran-war disruption, Middle East uncertainty, squeezed budgets and heatwave footfall hits weighed on demand and new work. Defence pressure: The US NATO ambassador told Keir Starmer’s team the UK defence spending plan is “incomplete”, urging a credible route to 5% of GDP by 2035, adding to scrutiny of Labour’s timetable. AI costs: KPMG says most UK business leaders have only a limited understanding of AI usage costs, with many lacking visibility into spending and struggling to link AI investment to measurable outcomes. Energy & business: Starling plans to cut about 130 roles after profit slipped, while Boro’ Foundry says a smarter cooling control system cut electricity use and runtime. Markets: The FTSE 100 hit a four-month high as hopes of a US-Iran peace deal and softer US jobs data boosted sentiment. Local economy: Halifax branding is set to disappear as Lloyds moves accounts over, with no branch closures promised. Crime: A teen was charged with attempted murder after a Birmingham shooting.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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