Britain baulks at Biden’s £330bn green subsidy package December 23, 2022 Britain has voiced its disapproval of Joe Biden’s extensive US package for green subsidies, warning they are protectionist and could harm UK energy firms. Kemi Badenoch, the UK’s international trade secretary has reached out to her US counterpart, criticising the Biden administration’s £327bn ($395bn) green economy package. In a letter seen by the Financial Times, [...]
Narrow Escape: Sam Bankman-Fried released on $250m bail December 23, 2022 Disgraced FTX co-founder Sam Bankman-Fried avoided prison on Thursday after posting a $250m recognised bond before awaiting trial for charges of fraud and money laundering. The US attorney’s office for the Southern District of New York has charged Bankman-Fried with eight criminal counts, including fraud and money-laundering offences. The previously heralded crypto hero reportedly used [...]
UK inks 10-year deal with Moderna to produce 250m vaccines in event of another pandemic December 23, 2022 The UK government has signed a 10-year deal with Moderna to produce upwards of 250m vaccines a year in the event of a pandemic. The investment will give NHS patients access to UK-made mRNA vaccines while a new innovation and technology centre will be created, with 150 highly skilled jobs. In a major boost for [...]
London flexible office occupancy rates recover to pre-pandemic levels December 22, 2022 Flexible office spaces in central London have seen their occupancy rates recover to pre-pandemic levels, new data shows. A majority (86 per cent) of the world’s top 30 flexible workspace providers have seen now seen occupancy rates in their central London offices surpass levels of 60 per cent, a survey by Knight Frank shows. A [...]
FinTech sector asks UK government for more clarity in 2023 December 22, 2022 A group of UK based FinTech companies have written an open letter to the Financial Conduct Authority (FCA) calling for greater clarity on how open banking will be regulated from 2023 onwards. The letter criticizes the Joint Regulatory Oversight Committee (JROC), a regulatory body established in March by the Competition and Markets Authority (CMA). The [...]
Laws, funds and CEOs: UK tech to see big changes in 2023 December 22, 2022 In 2023, London’s tech sector will see some big changes. From change in Vodafone leadership to the Online Safety Bill, here is a look ahead to the five big City stories to watch out for. Online Safety Bill As part of a move to a safer internet, the UK government is pressing for a comprehensive [...]
Crypto in 2022: It wasn’t all bad December 22, 2022 This year was turbulent, even by crypto standards. If the past twelve months have taught us anything it’s that crypto is still far from a mature asset class and time may be running out for the industry to prove itself as a functional and beneficial cog in our financial system. There are a number of [...]
East London construction firm fined over collapsed floor that left builder injured December 22, 2022 The UK’s health and safety regulator has fined a London construction firm £66,667 over its failure to prevent a builder falling through the floor of a half-built building in Croydon. East London construction firm Lusson Ltd pleaded guilty to breaching health and safety regulations after an overloaded floor collapsed at a building site on Croydon’s [...]
Apology after postal strikes meant just 16 per cent of energy vouchers redeemed December 22, 2022 Royal Mail has apologised after just 16 per cent of energy bill support scheme (EBSS) vouchers were delivered by post this December. The company which has been crippled by strikes this month said sorry after cold Brits were left in the lurch, unable to get hold of energy metre vouchers. Vouchers are claimed by customers [...]
Small businesses suffer with rising costs, Vodafone steps in to help December 22, 2022 Telecom giant Vodafone has announced a free broadband scheme to support UK based small business. Vodafone has said that it will give a year’s free broadband to small businesses signing up for a 24-month contract. This is accounting for the rising costs of living, inflation and impact on small businesses. 10per cent of UK small [...]