Data watchdog takes action against Virgin Media and six public bodies over information request failings September 28, 2022 The UK’s information watchdog has taken action against Virgin Media and six public bodies over their repeated failures to respond to members of the public when asked to hand over personal information. The Information Commissioner’s Office (ICO) said the seven public and private sector bodies had repeatedly failed to respond to Subject Access Requests (SAR) [...]
Bank of England launches £65bn emergency care package to tame UK market carnage September 28, 2022 The Bank of England today scrambled to head off a “material risk to UK financial stability” driven by higher UK borrowing costs. In a mid-morning statement to the City, the Bank said it is launching an emergency, time-limited bond buying scheme amid market chaos triggered by investor concerns over the UK’s fiscal and economic credibility. [...]
Labour’s more corporate 2022 conference shows it’s closer to power September 28, 2022 An increasing sense of triumphalism descended on the Labour party conference the longer it went on. While the government’s mini-budget rattled financial markets, and the Tory party descended into factional warfare again, Labour leader Sir Keir Starmer delivered an impressive conference speech that electrified the party faithful. Every Labour staffer and activist I spoke to in [...]
France pulls out of Channel migrant deal over Truss ‘friend or foe’ comments September 28, 2022 France has reportedly pulled out of a deal to try and stop Channel migrant crossings, after comments made by Liz Truss on Emmanuel Macron. Truss said during the Tory leadership campaign that the “jury’s out” over whether the French President was “a friend or foe”. French government sources told the Daily Mail that the comments [...]
Government has a second chance – it can’t fluff its lines yet again September 28, 2022 The UK Economy: Apocalypse Now? Black Wednesday, Mark 2? Not quite. But if social media’s hot takes on the state of the UK economy are wide of the mark, the pressure on Kwasi Kwarteng and the Bank to restore credibility is now immense. The good news is that will not be as difficult as some [...]
City minister says government not at fault for markets turmoil September 28, 2022 City minister Andrew Griffith has said the past week’s financial markets turmoil is not the government’s fault as a Tory backlash against the Prime Minister builds. Griffith told Sky news that “every major economy is dealing” with market volatility, after the Bank of England made a stunning decision today to start buying up UK gilts [...]
Twindemic warning: 30m Brits urged to get ‘potentially life-saving’ flu and covid jabs September 28, 2022 30 millions Bris have been urged to have flu and Covid boosters before the winter sets-in to avoid a “twindemic”. The UK Health Security Agency (UKHSA) said people should protect themselves against H3N2 – a subtype of influenza type A – and coronavirus, before expected resurgences of both happens in colder months. H3N2 is currently [...]
Kwarteng tells bank execs he is ‘working closely’ with BoE to calm markets September 28, 2022 Kwasi Kwarteng has told a group of investment bank executives that he is “working closely” with the Bank of England to calm markets. The chancellor and City minister Andrew Griffith said during a roundtable that the government has a “clear commitment to fiscal discipline” and outlined coming post-Brexit changes to financial services regulations, according to [...]
Government has until November to end barristers’ strike before judges will be justified in releasing prisoners September 28, 2022 Judges acted unlawfully by releasing prisoners awaiting trial because of the barristers’ strike, a High Court has ruled, after warning the government has just two months to sort the situation out before courts will be justified in letting out those awaiting hearings. Crown Court judges in Bristol and Manchester who released prisoners on bail, on [...]
Rates on UK debt surge higher and pound slumps against US dollar September 28, 2022 Rates on UK debt surged higher today and the pound trailed the US dollar again driven by investors sweating over the government’s tax and borrowing splurge. The yield on the 30-year UK gilt jumped six basis points to 5.048 per cent, the highest since 1998. Investors were demanding a greater return ahead of the government [...]