Sunak’s net zero tsar: I’ll vote against my party – but we can’t let the left lead on climate policy May 15, 2023 Net zero tsar Chris Skidmore has said he “will be voting against the government” on amendments to a landmark piece of energy legislation, but warned that climate change policy can not be allowed to become “the home of the left.” Former energy minister Skidmore – who led a key review of the UK’s net zero policy, which criticised [...]
Calls for a social tariff obscure wider energy issues May 15, 2023 Energy bills will finally fall this summer after nearly 18 months of sustained hikes, softening a painful cost of living squeeze for millions of Brits. This year’s drop in wholesale gas prices on the spot market, thanks to Europe’s successful scramble for supplies last winter and China’s flagging economic growth, will soon be reflected in [...]
Cost of card payments slammed as ‘startling’ after Mastercard exec defends fees May 15, 2023 A lobby group has today warned of the “startling rise in the cost of accepting cards” for small businesses after the European chief of Mastercard defended the fees it levies on merchants over the weekend. Interchange fees, which are charged to merchants and paid to the card issuing bank and payment network, have climbed sharply [...]
Fraud warning as insolvency surge sees more directors investigated for corporate misconduct May 15, 2023 The Insolvency Service last year launched 36 per cent more investigations into the alleged misconduct of directors of insolvent companies than the year before, data from international law firm RPC shows. According to RPC, the number of investigations increased from an average of 142 per month between April 2021 and March 2022 to 193 between [...]
Burberry hopes to be back in fashion thanks to China reopening May 15, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Kemi Badenoch backs the City as she travels to Bern for UK-Swiss trade deal talks May 15, 2023 Trade secretary Kemi Badenoch has pledged her government “gets the City” as she launches trade deal talks with Switzerland. Speaking exclusively to City A.M., the business and trade secretary said the free trade deal’s (FTA) “potential is limitless” as she hopes to unlock investment in tech, digital and data. The former Tory leadership contender will [...]
Banks set to ramp up lending as UK economy dodges recession May 15, 2023 Banks are expected to ramp up their lending this year as the UK economy dodges the gloomiest recession predictions and the housing markets shows signs of some revival, according to a panel of top economists. Total UK bank loans are now expected to rise 1.2 per cent this year, a net increase of £29bn, upgraded [...]
UK state pension scheme has ‘no current plans’ to back nuclear in blow to Sizewell C May 14, 2023 The UK’s flagship state pension scheme says it has “no current plans” to invest in nuclear infrastructure such as Sizewell C, marking a major setback for the government’s mission to grow the country’s future nuclear power output. Following a change to its energy policy last year, there had been hopes from inside the governmentthat the [...]
M&G calls bosses back into the office – and they can’t be TWaTs about it May 14, 2023 Investment firm M&G has called on its managers to get back in the office for three days a week in a bid to boost the morale and development of its junior staff - but they won't be allowed to simply swan in on Tuesdays, Wednesdays and Thursdays.
Wetherspoon chief’s solution to labour shortage – ‘Get the b******s back to work!’ May 14, 2023 JD Wetherspoon chief Tim Martin has called for firms and the government to do more to stop people retiring early, demanding “we should get the b******s back to work.” UK labour shortages have been exacerbated by Britons leaving the workforce before the State Pension age of 66, increasing the number of economically inactive in the [...]