UK wealth managers tumbled after a US fintech launched an AI planning tool seen as a threat to fee-based advice. St James’s Place fell about 13%, while Quilter, abrdn, AJ Bell and Rathbones also slid. Bosses said regulation and client trust mean technology will augment, not replace, human advisers.

Allies say the PM will not dismiss Health Sec Wes Streeting after leadership plot speculation. Streeting pledges support as a fragile truce holds, and ministers are told to focus on delivery. A dismissal is viewed as likely to deepen internal instability within government.

The PM rejected calls to resign amid a Labour leadership crisis, moving to calm MPs as cabinet ministers rallied round. Allies accused Wes Streeting of exacerbating tensions, which he denied. A setback from the Scottish leader added pressure on No 10.

Morgan McSweeney, a top No 10 aide and close ally of Peter Mandelson, has resigned to take the blame for controversy over Mandelson’s role and past associations. His exit intensifies scrutiny of the PM’s judgment and authority, as Labour figures move to contain the fallout.