Budget: Why a high-tax country is still dealing with fraying public services March 14, 2023 Britain is on course to shoulder a tax burden that has “never been sustained before in its history” but is still grappling with fraying public services, a top economist has told City A.M. ahead of Chancellor Jeremy Hunt’s budget tomorrow. Carl Emmerson, deputy director of the Institute for Fiscal Studies (IFS), said the UK has [...]
UK to respond with “swift and robust action” to any Chinese aggression March 13, 2023 Russia’s invasion of Ukraine and Chinese posturing over Taiwan risk creating a world “defined by danger, disorder and division”, Prime Minister Rishi Sunak has warned today. Britain is committed to “swift and robust action” to counter any threat to UK national interests from China, according to an updated blueprint for the UK’s foreign and defence [...]
Ukraine war: Top UN officials host Russian envoys in bid to extend grain export deal March 13, 2023 Senior UN officials have hosted Russian envoys in Geneva in a bid to extend an export agreement amid Moscow’s invasion of Ukraine and to prevent a potential new spike in world food prices. Despite being at war, Ukraine and Russia struck a deal last July that allows Ukraine – one of the world’s key breadbaskets [...]
“Project Yeti”: Inside the scramble to save Silicon Valley Bank UK March 13, 2023 “It’s going down to the wire.” That was the view of Coadec CEO Dom Hallas at 11pm on Sunday evening after hours of meetings had failed to produce a deal on the future of Silicon Valley Bank – with the tech industry warning it would be an existential threat to thousands of firms across the [...]
<strong>SNP leadership ballot opens as Forbes, Yousaf and Regan vie to replace Sturgeon</strong> March 13, 2023 Voting in the SNP leadership election to choose Nicola Sturgeon’s replacement has opened as the race gathers pace. Candidates Kate Forbes, Humza Yousaf and Ash Regan are running to become Scotland’s next first minister, following Sturgeon’s shock resignation last month. Scottish National Party (SNP) members will choose between the finance secretary, health secretary and ex-communities [...]
MI5 spies to help firms counter China tech threats, says Sunak March 13, 2023 China poses the biggest “state-based” threat to Britain’s economic security, prime minister Rishi Sunak has said, as MI5 spies are set to help firms counter tech threats. UK organisations and businesses will receive expert security advice from the new National Protective Security Authority within MI5 to help them counter risks from hackers. It comes as [...]
Budget: 350,000 small firms at risk of ‘shrinking, restructure or closure’ unless energy bill help extended – FSB March 13, 2023 Companies on fixed-term energy contracts are at risk of being exposed to ultra-high prices, warned a leading industry group.
Sunak to challenge Biden over US green subsidy package at upcoming talks March 13, 2023 The UK and US will “work through” concerns about green subsidies, Rishi Sunak revealed ahead of talks with President Joe Biden.
Sunak says there’s ‘no chance’ of law change over Elgin Marbles as ex chancellor Osborne explores options March 13, 2023 Rishi Sunak has said there are “no plans” to change a law which blocks the Elgin Marbles from being given to Greece. The Prime Minister said the UK had “cared for” the sculptures in the British Museum for generations and they were “shared with the world” at the London site. Athens has long demanded the [...]
Clock ticks down for Tiktok as UK reportedly prepares to ban app on government devices March 13, 2023 Amid reports the UK is set to recommend a ban on Tiktok from government devices, City A.M. looks at how the app went from viral dance videos to data security threat.Every Sunday, whatever the weather, groups of teenagers gather on a raised platform outside City A.M. HQ to film themselves dancing against the glittering backdrop [...]