Barclays profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live
Posted on Thursday October 22, 2026

French risk premium over German bonds widest since 2011 as oil prices climb above $111 a barrel

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

Barclays’ profits jumped in the last quarter and it handed more cash to shareholders as further bank taxes looms in John Healey’s budget next Wednesday.

I am pleased with the ongoing momentum of Barclays’ operational and financial performance.

With one quarter to go before the end of our original three-year plan, we have either achieved or are on track to achieve all of our 2026 group targets. We are confident in and committed to the 2028 targets that we laid out earlier in the year.

A UK bank tax risk is now a base case. If it is confirmed on 28 October, it’ll be the size and timing that will be key. If Healey does go ahead, shares of Lloyds and NatWest, which are almost entirely exposed to the UK, would likely be impacted most, and you are seeing this already in the share price reaction today. Barclays is partly exposed. HSBC is least exposed in the mix.

10am BST: UK index-linked gilt 2031 action

11am BST: UK CBI Industrial tends survey

11.50am BST: Bank of England governor Andrew Bailey speech

1.30pm BST: US Initial jobless claims for week of 17 October

3pm BST: Eurozone consumer confidence flash for October

3m BST: US Conference Board leading index for September

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AI firms say UK has a year to head off datacentre protests before construction is threatened
Posted on Thursday October 22, 2026

Exclusive: Nvidia, Microsoft and Cisco taskforce urges ministers to offer areas greater benefits from tech infrastructure amid fears of US-style opposition

AI companies have told ministers they have 12 months to head off public opposition to datacentres in the UK or risk US-style protests that could threaten their construction.

Successive dry summers and rising energy bills are increasing public scrutiny of plans for the huge computer warehouses that are used to train and run AI models, says a submission to the Labour government from a group including the AI infrastructure companies Nvidia, Microsoft and Cisco.

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Waitrose opens first new supermarket in eight years in north London
Posted on Thursday October 22, 2026

Grocer launches Cricklewood store as part of £1bn investment plan, with Hale Barns, Greater Manchester, to follow next month

As part of a £1bn investment plan, Waitrose has chosen Cricklewood in north London as the location for its first supermarket in eight years.

The upmarket grocer will open the store on Thursday and another supermarket in Hale Barns, Greater Manchester, next month. It also plans four smaller stores next year, including a supermarket in Oakham, Rutland, and three convenience stores in Bedminster (Bristol), Chalk Farm (London) and Springstead Village (Cambridge).

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Everyone hates Oxford Street. Will pedestrianisation save it?
Posted on Thursday October 22, 2026

In a few days the busiest shopping street in Europe will be closed to traffic. The hope is that an unloved and polluted thoroughfare will turn into somewhere that people actually want to spend time

In February, the mayor of London, Sadiq Khan, announced that Britain’s best-known thoroughfare, Oxford Street, would be pedestrianised. To the surprise of every Londoner that I have spoken to in the past few months, it is actually happening. On Monday 26 October, the busiest shopping street in Europe – or, precisely, half of its 1.2-mile stretch – will be closed to traffic, putting an end to several decades of bitter arguments, obstructions and delays. Cars, lorries, vans, taxis, buses, bicycles, ebikes, scooters will be banned. Nothing but pedestrians (and emergency vehicles) will be allowed in.

This change will mark the most remarkable transformation to the streetscape of central London since at least 2003, when Trafalgar Square was turned from a glorified roundabout into one of London’s most recognisable public spaces. It will also form the most visible part of the mayor’s legacy, whether or not Khan runs for a fourth term in 2028. Three years ago, Khan published a memoir and manifesto, Breathe, attributing his asthma to growing up inhaling London’s polluted air. For the mayor, pedestrianising Oxford Street is the culmination of a mission to create a greener city that is oriented around public health, walking and cycling.

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UK watchdogs urged to tackle suicide social media content after death of girl, 14
Posted on Wednesday October 21, 2026

Adriana Retyte took her own life after viewing ‘high-risk’ material on the video-sharing platform TikTok

A 14-year-old schoolgirl’s death after TikTok served her suicide content has prompted renewed calls for UK watchdogs to crack down on “toxic” social media feeds.

Adriana Retyte, a pupil at Langley school in Norfolk, took her own life after she viewed videos and images related to suicide on the video-sharing platform, according to a coroner who last week found her access to the material on TikTok “may have played a significant part in her decision to take her life”.

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New prize launches for books co-written with AI
Posted on Wednesday October 21, 2026

After months of controversy over the possible use of AI by winners of prestigious awards, the Prix Pascal de Littérature IA is rewarding fiction written with the help of LLMs

A prize for AI-written books has launched this week.

The Prix Pascal de Littérature IA invites submissions of manuscripts co-written with AI tools, with the winner promised publication.

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‘Angry’ Carrick on the brink as Fernandes hits out at Manchester United tactics
Posted on Wednesday October 21, 2026

• Manager apologises to fans after 4-1 defeat in Como

• Captain criticises ‘decision from the staff’ not to press

Michael Carrick’s future as Manchester United manager is in the balance after a humiliating 4-1 Champions League defeat by Como on Wednesday night.

Before Bournemouth’s visit to Old Trafford on Sunday his future may be discussed by Jason Wilcox, the director of football, Omar Berrada, the chief executive, and Sir Jim Ratcliffe, the co-owner who controls sporting policy.

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‘It doesn’t look good’: Arteta concerned as Saka limps off against Bayern Munich
Posted on Wednesday October 21, 2026

• ‘A player off with really sharp pain is never good news’

• Winger forced off 10 minutes into Arsenal’s 2-2 draw

Mikel Arteta made no attempt to conceal his concern over the quad injury that forced Bukayo Saka out of Arsenal’s 2-2 Champions League draw at Bayern Munich, saying it did not “look good at all”.

The manager was delighted with the fight that his players showed, Declan Rice earning a deserved point with an 82nd-minute equaliser. Arsenal had led through Eberechi Eze, who came on in the 10th minute for the stricken Saka, before Harry Kane took centre stage. The Bayern striker set up Alphonso Davies for 1-1 before giving his team the lead from the penalty spot.

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