Ex BAT chief handed £1.5m lump pension payout after exit from Lucky Strike maker June 12, 2023 The former head of British American Tobacco (BAT) will be handed a £1.5m lump pension payout following his surprise exit from the cigarette company last month. Jack Bowles departed the Luck Strike maker last month following four years at the helm – he was replaced by former finance director of the group Tadeu Marroco. At [...]
Knight Frank revenues soar as it shrugs off ‘considerable market disruption’ June 12, 2023 Estate agency Knight Frank has posted a surge in revenues for the year despite having tackled “considerable market disruption” over the last 12 months due to the impact of the Truss-Kwarteng mini-budget. Revenues for the year ending 31 March 2023 reached £670m up from £665m in the same period last year as the opening of the [...]
Oaknorth boss: Immigration barriers are threatening the UK’s fintech sector June 12, 2023 A lack of talent is threatening to choke off growth in UK fintech and ministers must do more to open up borders to workers, the boss of digital lender Oaknorth said today.
EU carmakers could lose £3.69bn due to post-Brexit tariffs June 12, 2023 European automakers have said they could lose €4.3bn (£3.69bn) and cut production of nearly 500,000 vehicles, if the EU does not delay putting in place tariffs between the EU and UK. According to the Financial Times, the European Automobile Manufacturers Association (Acea), has said that China would benefit if the EU does not agree to [...]
London trial: Ukraine’s bank accuses former owners of ‘fraud on epic scale’ and money laundering June 12, 2023 Ukraine’s biggest bank has accused two former owners of “fraud on an epic scale” covered up by “money laundering on a vast scale” at a High Court trial in London. JSC Commercial Bank Privatbank says former owners Igor Kolomoisky and Gennadiy Bogolyubov misappropriated more than £1.5 billion (nearly two billion US dollars). A judge began [...]
Government price tag for making tax digital has ballooned, report warns June 12, 2023 The credibility of the government’s plans to allow people to file their tax bills digitally has been undermined by repeated delays and a bill that has increased about sixfold, the National Audit Office (NAO) has said. The official auditors said that the final bill is currently expected to be £1.3bn, an increase of more than [...]
Eurowag boss: UK should remain open to alternative green fuels June 12, 2023 The founder and CEO of FTSE 250 firm Eurowag has said that the UK should remain open to synthetic fuels, amid impending bans on petrol and diesel vehicles and an ongoing wider debate over alternative fuels’ role in decarbonising. Speaking to City A.M. Martin Vohanka said he would like the UK to “stay open” to [...]
AI can help capital tackle climate threat, Sadiq Khan says June 12, 2023 Artificial intelligence (AI) can be deployed to help London tackle the threat from climate change, Sadiq Khan has said. The mayor of London has launched a review exploring how data and technology can help the capital thrive in a changing environment. At the opening of London Tech Week on Monday, Khan outlined how blistering heatwaves [...]
Amazon warehouse workers accuse tech giant of ‘dirty tricks’ as staff strike again June 12, 2023 Amazon workers commence three days of industrial action at the firm’s Coventry warehouse today as a dispute over pay drags on and continues to disrupt its operations. This is the fifth time this year that members of the GMB Union have walked out over low pay, with strikes taking place nearly every month since the [...]
UK burns coal for first time in 46 days as Brits turn on the air conditioning June 12, 2023 Britain has started burning coal for electricity for the first time in a month and a half as demand for air conditioning spiked.