Short sellers pile into UK firms amid political turmoil September 6, 2022 Short sellers piled into bets against UK firms in August as political turmoil and a looming recession continue to drag on London’s markets, new data has revealed. The UK made up 23.46 per cent of all short positions in Europe at the end of August, up from 22.6 per cent in July, followed by Germany [...]
Going Nuclear: France to name new EDF boss within days September 6, 2022 France will select the new boss of state-controlled power giant EDF in the next few days, revealed the country's Finance Minister.
UK chips sector can compete with Taiwan with a US-style strategy, says IQE boss September 6, 2022 A strategy to rival the US’ Chips Act would allow the UK to compete with the likes of Taiwan, China and the States, the CEO of chipmaker IQE has told City A.M. today. “It would really position IQE and the UK as a world leader of compound manufacturing,” Americo Lemos said. “It would allow the [...]
EnQuest rebounds with massive profits powered by commodities boom September 6, 2022 North Sea operator EnQuest has raked in pre-tax profits of $416m fuelled by soaring oil and gas prices and robust production.
EXCLUSIVE: New PM Liz Truss will protect ‘crown jewel’ City of London September 6, 2022 Liz Truss will “empower the City to drive economic growth” through tax cuts and regulatory reform as Prime Minister, she exclusively told City A.M.. The newly-appointed Conservative leader said, who will be appointed formally by Her Majesty the Queen at Balmoral today, she wanted to maintain the Square Mile’s competitive edge and “supercharge growth and [...]
Liz Truss set to outline £40bn package to help businesses with energy bills September 6, 2022 Liz Truss is reportedly set to outline a £40bn support package for businesses struggling with soaring energy bills in the coming weeks. The incoming Prime Minister is mulling over two options – setting a fixed energy price for businesses or a flat percentage discount that energy suppliers must offer to companies. Bloomberg reports that the [...]
Construction sector shrinks for second month in a row as recession signals brighten September 6, 2022 Construction activity shrank for the second month in a row in a sign the UK economy’s malaise is spreading to every sector, a closely watched survey published today showed. S&P Global and the Chartered Institute of Procurement and Supply’s purchasing managers’ index (PMI) edged higher to 49.2 last month, up from 48.9 in July. Despite [...]
Tullow merger target Capricorn weighs up alternative bidders September 6, 2022 Capricorn Energy has confirmed it is holding talks with other bidders, following investor concerns over its Tullow merger.
Inland Homes shares plummet as it suspends shareholder buy-backs September 6, 2022 Inland Homes has announced it expects to make a heavy loss this year and has suspended its announced share buy-back programme.
Housebuilder Berkeley on track for £600m profit despite spiralling costs September 6, 2022 Berkeley, one of the biggest housebuilders in the country, is on track to hit £600m in pre-tax profit this financial year and £625m the next despite spiralling costs. The FTSE housebuilder said that current levels of demand for homes in the UK is “sufficient to cover the cost increases”, as inflation hits energy, raw materials [...]