Legal sector hits back at EU calls for regulation of third-party litigation funders September 14, 2022 Lawyers and litigation funders have hit back at EU plans to regulate the third-party litigation financing industry in claiming new rules could limit access to justice. The clashes come after the EU parliament on Tuesday voted overwhelmingly in favour of adopting a report by German MEP Axel Voss calling for new regulation of Europe’s [...]
Number 10 looks to shorten parliament’s party conference recess September 14, 2022 Number 10 is looking at shortening parliament’s recess for party conference season in a bid to provide more time to pass key legislation. There are plans to make MPs sit for parliament for a day longer next week, before party conferenece season begins, to ensure chancellor Kwasi Kwarteng can deliver a mini-budget. Parliament may also [...]
Von der Leyen sets out £120bn energy windfall plan and says Ukraine may join single market September 14, 2022 The European Union has set out plans to raise more than £120bn with a windfall tax and revenue cap on energy suppliers, as its commissioner reiterated the bloc’s backing for Ukraine. The body announced it would cap revenues for non-gas energy suppliers in a bid to reverse the fuel problem in Europe, sparked in part [...]
Nervous Kremlin faces growing efforts from all sides within Russia to topple Putin as coup rumours swell in Moscow September 14, 2022 Staunch Putin loyalist Kadyrov criticizes Kremlin on Telegram Lawmakers in St Petersburg urge parliament to prosecute Putin for treason Lawmakers in Moscow call for imminent Putin removal Tensions between Kremlin and security service FSB growing fast Social media activity in Russia in overdrive Analysts convinced Kremlin coup may be imminent ‘Siloviki’ group of former FSB [...]
Inflation drops for first time in nearly a year, but BoE still on rate hike path September 14, 2022 Inflation in the UK dropped for the first time in nearly a year, but will do little to stop the Bank of England from continuing to hike interest rates, City economists said today. Prices climbed 9.9 per cent over the year to August, down from a 40-year high rate of 10.1 in July, according to [...]
Kwarteng’s go for growth call shouldn’t be that controversial a message September 13, 2022 Go for growth. That’s the message given to the Treasury by the new Chancellor Kwasi Kwarteng, we are told, with a need to do things differently under fresh leadership. Who are we to argue? Of course, simply ordering the Treasury to deliver 2.5 per cent growth does not make it happen. If there was a [...]
Square Mile lobby urges new City minister to push through Brexit reforms September 13, 2022 New City minister Andrew Griffith must push forward with the government’s plan to reform the UK’s financial services rulebook post-Brexit, the industry’s leading business group has said. TheCityUK today congratulated the ex-Sky executive on his appointment and called on the Treasury to ensure the UK is a “well-regulated, open and competitive place to do business”. [...]
Wave of optimism and excitement across Ukraine as Russian Army suffers defeat after defeat in dozens of villages September 13, 2022 The sombre mood that has dominated Ukraine since the start of the Russian invasion, at the beginning of February, is rapidly making way for a wave of optimism and excitement after days of successes by the country’s army. Reports yesterday from the Ukrainian military stated that home forces successfully freed more than 20 settlements in [...]
Guilty: MP Margaret Ferrier forced to do 270 hours of community service after taking the train while positive September 13, 2022 A member of parliament head today she will have to do 270 hours of community service, after she “wilfully ignored” Covid rules and travelled by train from London to Scotland after testing positive. Margaret Ferrier was told the sentence was a direct alternative to custody and that she will need to carry out the unpaid [...]
Ex-minister says Kwarteng was right to sack Treasury’s top civil servant September 13, 2022 Kwasi Kwarteng was right to sack the Treasury’s top civil servant and his exit was a “cause for celebration”, according to a former Treasury minister. Former fraud minister Lord Theodore Agnew said the sacked Treasury permanent secretary Tom Scholar was the embodiment of “the malign influence of the Treasury orthodoxy”. Kwarteng has immediately tried to [...]