Mark Kleinman on banks, Ocado and London’s IPO market June 29, 2023 Mark Kleinman is City editor at Sky News Politics could push ministers to punish banks This is a cost of living crisis, not a banking crisis: if I had a fiver for every time a senior bank executive had said that to me over the last 18 months, I’d never need another mortgage of my [...]
Revolution v Boohoo: A dummy’s guide to the beauty bust-up June 29, 2023 Why is Boohoo causing tears? Boohoo, which holds a 26.6 per cent stake in Revolution, wanted to boot out Revolution’s chief executive Bob Holt, chairman Derek Zissman and chief financial officer Elizabeth Lake. Boohoo wanted to replace them with three new people – New Look executive chairman Alistair McGeorge, Boohoo executive director Neil Catto and [...]
Thames Water’s woes don’t show the folly of privatisation, but a lack of competition June 29, 2023 Thames Water has got itself into this position not because it's in private hands, but because it isn't subject to the improving forces of the market
Hunt unveils measures to ensure customers get fair pricing June 28, 2023 Chancellor Jeremy Hunt has drafted an action plan with authorities to ensure customers are being facing fair prices during the cost of living crisis. Hunt sat down with the Competition and Markets Authority (CMA), and the regulators for the energy, water and communications sectors, early on Wednesday 28 June at 11 Downing Street. He was [...]
‘Get the companies under control!’: Microsoft president tells UK to get AI safety in order June 28, 2023 Microsoft president Brad Smith has reiterated that the UK needs to prioritise AI safety in its quest to become a global leader in new technologies. “Let’s get the companies under control”, Smith said, speaking at a packed Chatham House event on Wednesday afternoon, where he argued that a licensing regime is necessary on both a [...]
Andrew Bailey, Christine Lagarde and Jerome Powell warn inflation fight not yet done June 28, 2023 Andrew Bailey and the cream of the global central banking crop today warned they may need to keep heaping pressure on the global economy before they can declare victory over high inflation. Speaking at the European Central Bank’s (ECB) annual monetary policy conference in Sintra, Portugal, the chiefs of the Bank of England, Federal Reserve [...]
Uber announces new offerings from Majorca to Mykonos due to record tourism June 28, 2023 Uber has announced a host of new upgrades in European holiday hotspots from Spain to Greece, ahead of what is expected to be a record period of tourism demand in Southern Europe. Popular destinations from Croatia’s Split to Portugal’s Algarve will benefit from a swathe of new improvements, with Uber-users in the popular Greek island [...]
One Media reports revenue jump as copyright detection tool takes off June 28, 2023 One Media today reported a 15 per cent jump in revenue as its new copyright detection technology proves increasingly popular. The AIM-listed digital media rights group saw its revenue increase to £2.7m in the first half of last year, up from £2.4m for the same period last year. Some £2.5m of this revenue were driven [...]
UK aviation could be put at a ‘competitive disadvantage’ by looming transit fee June 28, 2023 A new transit fee for passengers travelling through UK airports could put the country’s aviation sector at a “competitive disadvantage” as passengers opt to travel via other countries, airline groups have warned. Under the incoming changes, visa-exempt travellers passing through Britain will be required to pay £10 fee and apply for an online permit, known [...]
Brands in London “suffering”: Fresh calls to scrap ‘tourist tax’ amid Mulberry losses June 28, 2023 Fresh calls have been made to reinstate VAT-free shopping for international tourists, after the chief of Mulberry warned its profits have been hit hard by it as they ditch London for Paris and Milan. Pre-tax profit at the British handbag maker fell to £13.2m in the year to April, down from £21.3m the prior year. [...]