UK sinks to bottom of G7 growth league amid global economic downturn July 26, 2022 The global economy could be hurtling toward one of the sharpest slowdowns in recent memory, with the UK plummeting to the bottom of the G7 growth league, the International Monetary Fund (IMF) warned today. A full shut off of Russian gas flows to Europe and more upside inflation shocks would plunge growth into among the [...]
Tory leadership debate: Members back Truss over Sunak in latest poll July 26, 2022 A new poll of Tory party members has found a majority believe Liz Truss convincingly beat Sunak in last night’s BBC debate in another setback for the ex-chancellor’s chances of becoming Prime Minister. A YouGov poll today found 50 per cent of members thought Truss won and 39 per cent though Sunak won the fiery [...]
City grandee says Boris Johnson told him he wants to stay as PM July 26, 2022 Boris Johnson told a City grandee and Tory peer that he wants to stay on as Prime Minister and does not want to resign. Lord Peter Cruddas, who is a major Conservative donor, is running a “bring back Boris” campaign to keep Johnson in Number 10 through a vote of Tory grassroots members. Cruddas told [...]
Rishi Sunak vs Liz Truss: Last night’s Tory leadership debate fact-checked July 26, 2022 Last night Tory leadership hopefuls Rishi Sunak, a former chancellor, and Liz Truss, the current foreign secretary, went head to head in a live TV debate on the BBC. Following the debate, City A.M. caught up with Will Moy, chief executive of Full Fact, to fact check the various statements that were made during the [...]
MPs sound the alarm as number of women in British prisons simply refuses to come down July 26, 2022 The Government’s lack of progress in cutting the number of women in prison has come under fire by various MPs. In fact, there are fears this could rise by more than a third in the next three years. The Commons Justice Committee said there has not yet been “significant” change in addressing problems when holding [...]
No pressure? Gazprom cuts gas flows into Europe as cold winter months loom July 25, 2022 Gazprom plans to further cut gas flows into Europe, raising the chilling prospect of rationing and blackouts this winter.
Tory leadership: MPs call for an end to ’embarrassing’ attacks July 25, 2022 Tory MPs called for an end to bruising personal attacks in the party’s leadership race today as the battle between Liz Truss and Rishi Sunak became even nastier. Culture secretary and Truss supporter Nadine Dorries launched an attack on Sunak’s immense wealth earlier today, tweeting that the ex-chancellor visited “Teesside in Prada shoes worth £450 [...]
Business rates: Thousands of businesses go bust whilst waiting for rebates July 25, 2022 Thousands of business sites have foundered in while waiting for rebates over property taxes, according to new data. Research by real estate advisory firm Altus Group has showed that 3,165 business premises, including offices, factories, shops, pubs and restaurants, entered insolvency whilst they were awaiting the result of a business rates challenge. Business rates are [...]
OneWeb takeover by Chinese state-backed rival raises national security concerns July 25, 2022 The proposed takeover of British satellite darling OneWeb by French rival Eutelsat has caught scrutiny over national security. The joint company, estimated to be worth around $6bn (£4.9bn), would create a satellite and communications powerhouse to compete against Elon Musk’s SpaceX and Starlink – which currently dominates the satcoms industry. Eutelsat, which is partly owned [...]
Drought Council to meet tomorrow with hosepipe bans on the table if hot weather continues July 25, 2022 The National Drought Council is set to meet this week amid a possible hosepipe ban in wake of one of the hottest and driest summers on record. The Environment Agency body will gather to discuss options should the hot weather and lack of rainfall continue into August. This comes after the UK recorded its hottest [...]