|
| A review of last week’s UK economic headlines. |
ISSUE Nº 33 · MONDAY, 22 June 2026 · WEEK 31
|
|||
| THE EDITOR | |||
| Matthew Burrows | |||
|
|||
|
|||
| THE BRIEFING | |
|
|
|
The Bank Got Dovish. London Got Lighter. Britain Got the Bill.
The Macro Work
This week, the rate trade flipped — and Britain's borrowing tab kept climbing. Interest Rates to Hold at 3.75% as Inflation Climbs took stock of the BoE's hold and the two-hawk split inside the MPC. Nationwide's Mortgage Rate Cuts: Second in 7 Days got ahead of the move entirely — the lender cutting twice before Threadneedle Street even budged. UK Unemployment Drops, But the Jobs Market Cracks shone a light on the 4.9% headline that hides a cracking jobs market — vacancies down 19,000, payrolls at a five-year low. UK Interest Rates: Next Move Down, Not Up made the case for the dovish pivot, with a chorus of economists now expecting a cut rather than a hike. UK Retail Sales Jump 1.2% as Heatwave Hits circled the heatwave bounce as Brits flocked to the high street — though groceries still fell, so the lift may not last. And Why UK Government Borrowing Spells Tax Pain Ahead laid out May's £23.3bn print and the record debt-interest line — fiscal strain pointing straight at autumn tax pain.
The Corporate Calls
On the corporate desk, the global tape ran on while London quietly lost another name. Another FTSE 100 Giant Falls: Intertek's Takeover panned across the £10.6bn EQT deal at £60 a share — the latest blue-chip name lost from London to private equity. Asian Stocks Roar Back From Last Week's Halt lit up the session, with record highs after a US-Iran deal cut oil prices and SpaceX's IPO lifted tech. Rolls-Royce Shares Ride the Nuclear Renaissance punched out a ~4% lift to 1,353.60p as the SMR arm landed Sweden's first new nuclear plants in 40 years. Manchester United's Brand Lands Record Amazon Deal carved out a record eight-figure fee for the All Or Nothing series — more than the £10m Arsenal, Spurs and City each banked. Is Marvell Stock the Next $1 Trillion Giant? pitched in on the AI optical chipmaker's S&P 500 entry, with Nvidia's CEO floating the trillion-dollar call. And Why the Crypto Fear and Greed Index Is Your Friend read between the lines on the index stuck at 24 — extreme fear, a contrarian's signal not a panic one.
The Bank got dovish. London got lighter. Britain got the bill. Now to the rest of the issue…
| THE LEAD | |
|
|
|
Someone has to pay for the Iran war — and the bill just landed on the Treasury‘s desk. UK government borrowing jumped to £23.3bn in May, billions above what the official forecasters expected, with the interest on the national debt hitting a record high for the month. Here’s the uncomfortable part: with the Chancellor’s fiscal rules creaking, that gap has to be closed somehow. And the usual answer is your taxes.

|
|
In partnership with Decentralized Masters
|
|
The ones showing up in LLMs convert 3× better than Google
They optimized for LLMs, not just Google.
FAQs. Comparison pages. Transparent pricing. LinkedIn presence. These aren't vanity plays. They're what gets you cited in ChatGPT, Gemini, and Claude when your buyers are researching, your investors are looking, and your future hires are deciding where to work.
Download the free AEO Playbook for Startups from HubSpot and get the exact checklist. Five minutes to read.
|
|
| THE BUSINESS FEATURE | |
|
|
|
Forget jet engines — Rolls-Royce (LON: RR)’s hottest new export is nuclear reactors. Once a byword for British industrial decline, the FTSE 100 group has just sold Sweden its first new nuclear plants in over 40 years, and the market loved it: the Rolls-Royce share price surged nearly 4% to 1,353.60 on Monday. This is no one-off — it’s proof the engineer has reinvented itself as a front-runner in the global nuclear renaissance.

| THE MARKETS FEATURE | |
|
|
|
Green screens, jittery nerves. European stocks edged higher on Friday, with the STOXX 600 up 0.2% — but look at what’s leading the charge and the optimism starts to wobble. Investors are piling into safer healthcare and energy names, not betting boldly on growth. The trigger? US-Iran peace talks just stalled, with the US vice-president scrapping his trip. This is a market rising out of caution, not confidence.

|
|
Supported by Greenfield Robotics
|
|
Physical AI is coming to agriculture.
Everyone talks about AI software. Few are paying attention to AI machines operating in the real world. Greenfield Robotics is building autonomous machines that remove weeds at commercial scale, targeting one of agriculture's largest recurring costs.
Greenfield Robotics is Testing The Waters under tier 2 of Regulation A. No money or other consideration is being solicited, and if sent in response will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement filed by the company with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification. An indication of interest involves no obligation or commitment of any kind. “Reserving” shares is simply an indication of interest. There is no binding commitment for investors that reserve shares in this manner to ultimately invest and purchase the shares reserved of the company, or to purchase any shares of the company whatsoever.
|
|
| THE CRYPTO FEATURE | |
|
|
|
The best time to buy crypto feels terrible — and that’s exactly when you should pay attention. When everyone’s sure Bitcoin is heading to zero, the patient money starts buying. There’s even a gauge for that mood: the Crypto Fear and Greed Index, stuck at a jittery 24. It won’t tell you what to buy, but used well it’s a mirror — showing when the crowd has lost its head, so you don’t lose yours.

|
|
Supported by Wati
|
|
You ship worldwide. Your follow-up doesn't.
International Shopify customers don't check email. They're on WhatsApp. Wati connects your store directly to WhatsApp, Instagram DM, and SMS — set up automated cart recovery, order updates, and follow-up flows that reach customers wherever they are. Every conversation tracked in one place, nothing missed.
|
|
|
| The MJBurrows Briefing — published every Monday, 8am London time. Plain-English UK finance for the people it actually affects. |
| Liked this? Forward it to one person who'd thank you for it. | |
| |
| You're receiving this because you subscribed at mjburrows.com. © 2026 MJBurrows. All rights reserved. | |




