AGP Executive Report

Politics & Markets: Keir Starmer resigned as Labour leader and PM, setting up a rapid handover with Andy Burnham tipped to take over, while investors weighed the political shift alongside US-Iran talks that lifted European shares. Media Regulation: The UK unveiled plans to force YouTube and TikTok to boost public service content from the BBC, ITV and Channel 4, aiming to curb misinformation. Business & Finance: Louis Taylor will step down as British Business Bank CEO in September; the SFO also opened a fraud probe into collapsed telecoms firm IMC. Security & Tech: Five Eyes warned AI-driven cyber threats are accelerating “in months,” and the UK is pushing AI/tech governance and investment. Justice & Crime: A man jailed after shaking a baby who later needed lifelong care; and police continue investigating a boy allegedly thrown into a crocodile enclosure at a zoo, now stable. Trade & Economy: UK borrowing rose sharply, with debt interest costs hitting new highs amid Iran-war pressures and wider uncertainty.

Labour Leadership Shock: Keir Starmer has resigned as UK prime minister and Labour leader, saying he will step down within weeks and back an orderly handover before parliament returns in September; the party’s leadership contest is set to start with nominations opening July 9. Markets & the Pound: Sterling slid toward a one-year low after the announcement, with investors focused on what an expected Andy Burnham premiership could mean for borrowing and fiscal rules. Burnham’s Rise: Burnham’s Makerfield by-election win has cleared the path for him to be the frontrunner, though he’s still yet to spell out clear plans on economy, defence and foreign affairs. Brexit’s Long Shadow: Multiple reports tie the political churn to the decade-long fallout from the 2016 Brexit vote, with voters still blaming it for living-cost pressure. Business & Tech Watch: Atom Bank says it has rolled out Flowable automation to speed commercial lending, while Jet2 confirmed a new app feature showing flight updates from 72 hours ahead. UK-Global Links: Starmer’s exit also raises questions about the future of UK ties with India, as well as broader trade and investment relationships.

Labour Leadership Shake-up: Multiple UK outlets report Prime Minister Keir Starmer could announce his intention to resign as early as Monday, with Labour’s setbacks in local elections and Andy Burnham’s by-election win boosting pressure for a leadership change. Immigration Policy: Labour has been forced to rewrite its “one in, one out” migrant deal with France after a loophole let deported people return to Britain illegally, extending the scheme until October. Rail Disaster: A Bedford-area collision left a driver dead and about 100 injured, with nine in critical condition, as investigators examine how two East Midlands Railway services collided. Royal Transparency: Buckingham Palace says King Charles will publish his personal tax bill in a first for a modern monarch. Brexit After 10 Years: New polling suggests most Britons think Brexit has harmed the economy, with two-thirds citing higher living costs and worse prospects. Maritime Security: UKMTO reports an attempted tanker boarding off Yemen, with the crew safe and authorities investigating. Heat Risk: The Met Office has issued amber warnings as temperatures could reach 38C next week.

Royal Transparency: King Charles will publish his personal tax bill in a historic first, aiming to boost clarity on royal finances. UK Politics: Keir Starmer is widely reported to be preparing a statement on Monday about his future after mounting Labour pressure and Andy Burnham’s by-election win. Rail Safety: Investigators continue probing the Bedford train crash, with focus likely on signal failures and possible human error as the injury toll rises. Public Order: Police Scotland charges a man over Edinburgh attacks that left five injured, with Starmer saying the suspect appears driven by anti-Muslim hatred. Cost of Living & Transport: HMRC confirms £300 Winter Fuel Payment clawbacks for some pensioners over 80, while drivers face new scrutiny over fuel and EV-related charges. Business & Jobs: UK fashion retailer Quiz will shut its final 20 stores after administration, and Greater Manchester sees a wave of firms forced into insolvency. Trade & Economy: New polling suggests Britons and EU citizens are increasingly open to closer ties a decade after Brexit. Security: A Border Force officer jailed for Hong Kong spying targeted pro-democracy campaigners for Chinese authorities.

Politics & Power: UK Prime Minister Keir Starmer is expected to resign on Monday, with the Observer reporting he’ll set out a timetable after concluding his role is “no longer tenable,” following talks with cabinet, advisers, donors and union leaders. Public Safety & Hate Crime: Counter-terror detectives are investigating Edinburgh attacks that left five men injured, with police and Muslim groups saying the incidents appeared to target Muslims after reports near a mosque and online videos of a shirtless man carrying a weapon. Rail Disruption & Investigation: A fatal train collision near Bedford is under investigation, with British Transport Police saying the driver died and nine people remain in critical condition, after dozens were taken to hospital. Cost of Living & Welfare: HMRC is warning some teenagers may be missing out on unclaimed Child Trust Fund money worth up to £2,200, urging eligible families to check accounts. Climate & Emergency Response: Britain is boosting wildfire defences with a £97m investment to place specialist firefighter teams across key regions for faster response. International Trade: Dubai Chambers met Canadian partners in Toronto to strengthen trade and investment ties, including in innovation and AI. Sport: Newcastle rejected Tottenham’s £80m bid for Sandro Tonali, holding out for a higher price.

Medication Shortages: GPs and pharmacists warn of worsening UK supply problems for key drugs, including codeine/co-codamol, antidepressants, epilepsy medicines, HRT products like Estradot and oxybutynin, plus cancer and cystic fibrosis treatment Creon, with calls for an emergency taskforce and for pharmacists to be allowed to adjust prescriptions. Rail Disaster: Two East Midlands Railway trains collided near Bedford, killing the driver and leaving 89 injured (11 very seriously, 22 seriously), as police and transport officials investigate the cause and services were suspended. Politics & Leadership: Labour’s Andy Burnham won the Makerfield by-election and signalled he will challenge Keir Starmer for the Labour leadership and No.10, while markets watched borrowing costs and political uncertainty. Public Finance: HMRC says inheritance tax changes will hit 10,500 more estates, with receipts rising and thresholds frozen, as pension-linked wealth draws more families into liability. Crime & Security: Two men were jailed over Russia-linked arson attacks targeting properties linked to UK PM Starmer, allegedly recruited via Telegram. Local Life: A free First Light beach festival returns to Lowestoft this weekend, billed as a “giant family playground.”

Cost-of-living strain: New research says 21% of UK workers only plan their finances for the next few weeks, while 64% have no plan beyond a year—fuelled by inflation and rising worries about money. Labour leadership showdown: Greater Manchester mayor Andy Burnham won the Makerfield by-election and says it’s a “last chance” to change Britain, setting up a potential challenge to PM Keir Starmer. Retail rebound: UK retail sales volumes rose 1.2% in May, beating forecasts, with hot weather and promotions helping non-food and department stores. Public finance pressure: Markets and investors are watching borrowing and bond yields closely after Burnham’s win, with UK borrowing figures also coming in above expectations. Transport disruption: Two trains collided north of London near Bedford, with one death reported and multiple injuries as emergency services responded. Middle East trade row: Norway plans to ban trade with illegal Israeli settlements, while UK debate continues over whether sanctions should go further. Data centre push: Plans were filed for a large data centre campus in Northumberland, aiming to support AI growth and create jobs.

Politics: Labour mayor Andy Burnham has won the Makerfield by-election, clearing a path to challenge Keir Starmer and raising fresh questions about UK leadership timing and stability. Public Finance: UK borrowing hit £23.3bn in May, with debt interest costs at a record high for the month, pushing pressure onto public finances and markets. Economy & Retail: Retail sales volumes rose 1.2% in May, helped by hot weather and early World Cup spending, with online and household goods among the standouts. Housing Market: Labour unveiled reforms to speed up buying and selling homes, cut delays and digitalise paperwork, aiming to reduce sales falling through. AI & Regulation: The UK’s information commissioner John Edwards has resigned after a workplace investigation, with the ICO also overseeing AI regulation. Cybersecurity: Investment platforms report rising cyber attacks, with firms pointing to AI-powered phishing and third-party risks. Business & Trade: PD Ports is investing £5.4m in a new crane at Teesport to boost capacity, while the pound faces pressure after Goldman flagged it as the most overvalued G10 currency. Culture & Media: BBC has scrapped an Ashley Cain documentary after sexist social media posts surfaced. Crime: Police are investigating after a toddler was allegedly thrown into a crocodile enclosure at a Cambridge zoo; a man has been arrested.

Public Health Push: The Royal College of Physicians says air pollution should be treated as a public health emergency, warning it kills tens of thousands and costs the economy about £50bn a year, and criticising weaker UK targets and moves that could cut EV sales. UK-Trade & Investment: Britain’s High Commissioner in Bangladesh proposes deeper technical training links and stronger trade and investment ties, including aviation. Labour & Human Rights: Unison says it will lobby Labour for a full trade ban with illegal West Bank settlements and to suspend arms trade until international law is respected. Crime & Safety: Cambridgeshire police arrested a 30-year-old on suspicion of attempted murder after a 3-year-old was found in a crocodile enclosure at a zoo and taken to hospital in critical but stable condition; the zoo’s tropical house is closed. Economy Watch: Public sector borrowing rose 25% in April to £24.3bn, with debt interest hitting a record £10.3bn, while retail sales and consumer confidence are in focus. Business: Aldi unveiled plans for a £7m new store in Wirral, aiming to create up to 40 jobs. Heat Risk: UKHSA issued an amber heat health alert for parts of England, warning of significant impact on health and care services. Foreign Policy: The UK announced a £752m Ukraine aid package including 150,000 drones and air defence, funded via an ERA loan.

UK-India Trade Deal: Keir Starmer and Narendra Modi cleared the way for the UK-India CETA to start on July 15, after India said UK steel concerns were addressed; the UK expects £4.8bn added to GDP and £25.5bn more trade over time, with tariff-free access for much of India’s exports and steel duty-free access expanded. Business & Tech: The CMA ordered Google to make search rankings fairer and more transparent and to let users share search data with approved third parties. AI Adoption: Google Cloud says UK AI use has hit a “tipping point” as firms move from trials to production, but warns skills and trust are key. Economy Watch: The Bank of England is expected to hold rates as unemployment falls to 4.9% and wage growth beats forecasts. Digital Rights: A new bill targets anonymous bots scraping UK websites without identifying themselves. Defence: Dan Jarvis meets Nato allies in Brussels without a Defence Investment Plan as the row over UK defence spending continues. Local Growth: Hexaware plans a £25m UK expansion creating about 1,200 jobs in AI, digital services and quantum.

UK-India Trade Deal: India and the UK say the CETA free trade pact and the Double Contribution Convention will kick in on July 15, with 99% of Indian exports entering the UK duty-free and social security exemptions for Indian professionals extended from 3 to 5 years. Tech & Competition: The UK competition watchdog orders Google to make search rankings fairer and more transparent, with rules on objective ranking criteria and advance notice of major changes. AI Adoption: A Google Cloud executive tells Reuters the UK has hit an “AI tipping point,” shifting from trials to large-scale rollouts that are starting to deliver real returns. Energy & Transport: The government is moving ahead with a £219m fund to grow advanced sustainable aviation fuel, but airlines warn supplies may not meet targets. Business & Finance: Siemens Healthineers is investing $30m in a new UK radiopharmaceutical facility to expand capacity and secure NHS supply. Politics: Andy Burnham ramps up his Makerfield by-election push with a “change is coming” message and celebrity support. Crime & Courts: A former Nigerian oil minister, Diezani Alison-Madueke, is cleared of bribery charges in a UK trial. Public Safety: A man is in critical condition after a fall from height at a Salford high-rise.

World Cup Cybercrime: Malwarebytes warns that dozens of “free” World Cup streaming sites are built as scam and malware traps, often using near-identical pages and pushing malicious ads/downloads. Cost of Living Watch: UK inflation held at 2.8% in May, with higher petrol offset by easing food costs, keeping pressure on the Bank of England’s next move. Russia-UK Tensions at Sea: The MoD is investigating reports a Russian warship fired warning shots near a UK-registered yacht in the English Channel, with both sides trading navigation claims. Child Abuse Inquiry Row: A new Reform UK MP report reignites debate over grooming gangs, including a controversial estimate of 250,000 potential victims. Drugs Crackdown: Border Force seized about 12 tonnes of cannabis worth £139m at Southampton; three people from South Wales were arrested. Business & Jobs: Hays sold operations across six countries, banking £4m and flagging a non-cash loss; markets also tracked more UK jobs-market caution. Tech & Finance: Equiniti launched “Real Time Analytics” to show share-ownership changes between reporting cycles. Retail & Investment: John Lewis plans a £20m Glasgow store revamp, while Caledonia is investing £60m in garden centre operator Blue Diamond.

Channel Tensions: The UK says it is investigating reports that a Russian frigate fired warning shots near a UK-registered yacht in the English Channel, with Russia claiming the yacht took a “dangerous approach” and that flares and signals were used before shots were fired; no injuries or damage were reported. Shadow Fleet Crackdown: The incident comes days after UK commandos boarded and detained a sanctioned Russian “shadow fleet” tanker in the same area, as London presses sanctions pressure tied to Russia’s war economy. Defence Funding Pressure: Britain’s top military chief warned training and operations may need to be “dialed back” without more defence funding, as the Defence Investment Plan remains under strain. Energy Security Push: At the G7, Keir Starmer announced £1bn in French and Indian investment for battery storage and flexible energy capacity, aiming to strengthen the UK’s energy system and protect households. Drugs Enforcement: Border Force seized nearly 12 tonnes of cannabis at Southampton from Canada, worth about £139m, in what is described as the biggest ever haul. Online Safety: Starmer unveiled a sweeping ban on under-16s using social media, with extra restrictions on gaming and livestreaming and tighter rules for AI “romantic companion” chatbots.

Sanctions & Security: The UK has imposed new sanctions targeting Russia’s “shadow fleet”, Yandex’s banking arm, other lenders and a covert defence procurement network, as Starmer attends the G7 and pushes pressure on Putin’s war economy. Economy Watch: New data says UK GDP shrank 0.1% in April, with services hit hardest as the Iran war bites. Energy Supply Risk: A Norwegian strike by oil-industry maintenance workers could disrupt crude and gas supplies to Britain, with Norway supplying about a third of UK crude and most gas. Retail Crime Crackdown: The Home Office plans longer closure orders for premises linked to organised retail crime, doubling maximums from six to 12 months. Green Aviation Push: Government launches a £93m Low Carbon Fuels Fund to speed up sustainable aviation fuel production, aiming for higher SAF shares by 2030 and 2040. Housing & Cost Pressures: Rightmove data highlights house-price growth hotspots, while reports also point to affordability strain in London driving an EU worker exodus. Industry & Investment: Make UK and Make UK Defence will co-host a joint pavilion at Advanced Engineering, while Mubadala backs UK-Ireland power links via Greenlink investment.

Under-16 Social Media Crackdown: UK PM Keir Starmer announced a sweeping ban on social media for under-16s, plus tighter rules on gaming and live-streaming where strangers can contact children, with enforcement and effectiveness questions still hanging over the plan. Russian Shadow Fleet: UK authorities charged the captain of the sanctioned tanker Smyrtos after a Channel interception by Royal Marines and the NCA; the vessel is formally detained off Weymouth and now barred from leaving UK waters. G7 & Iran Deal: Leaders opened the G7 in Evian as the US-Iran memorandum raised hopes for stability and shipping through the Strait of Hormuz, with UK officials watching knock-on effects for energy and growth. UK Fraud Pressure: UK Finance said payment fraud theft rose to £1.28bn last year and urged tech platforms to take stronger action, arguing ad systems are helping scammers. UK-Japan Investment Push: Starmer and Japan’s PM backed a major £18bn package spanning infrastructure, financial services and offshore wind, alongside defence and tech cooperation. Business & Takeovers: Frasers launched an all-cash bid to fully take over Australia’s Accent Group, valuing the deal at about £166m. Courtroom Security: Ukrainian men were convicted over arson attacks linked to Starmer’s properties, with reporting tying the plot to an “EL Money” Telegram handler.

Sanctions Crackdown: UK Royal Marines and the NCA boarded and seized the Russian-linked “shadow fleet” tanker Smyrtos in the English Channel in the first UK operation of its kind, with an Indian suspect arrested and the vessel held off the south coast while investigations continue. Middle East & Energy: A US-Iran peace breakthrough is set to reopen the Strait of Hormuz, and UK bond yields slid to a two-month low as oil prices fell; the RAC Foundation says the Iran crisis has already cost UK drivers about £4bn at the pumps. EV Policy: Keir Starmer is set to water down 2030 EV sales targets after industry and union pressure, risking a hit to Labour’s net-zero push. Household Money: HSBC is offering £220 cash for eligible current-account switches, paid within 60 days, as banks keep competing with incentives. Fraud Warning: UK Finance reports investment fraud losses topped £220m last year, with AI helping scammers scale up. Online Safety: Starmer confirmed plans to ban under-16s from social media, with age-verification enforcement expected to follow. Local Economy: Poundstretcher won court approval for restructuring after creditor backing, while Argyll Holidays’ collapse has triggered a staffing surge as administrators hunt for a buyer.