Areas near 2012 London Olympics continue to see economic boost after a decade July 29, 2022 A decade after the London Olympics, areas nearby the event are continuing to feel positive economic impacts. Stratford’s E15 district has seen its economic vitality index score grow by nearly a quarter, according to analysis firm Evaluate Locate, some 15 per cent higher than the average rate seen across the rest of the country. The [...]
Exclusive: OEUK defends windfall tax’s investment relief and calls for domestic energy ramp-up July 28, 2022 The UK's leading industry body for offshore energy has defended the continued inclusion of investment relief within the windfall tax.
UK tech components maker mulls moving out of Sri Lanka amid unrest July 28, 2022 UK electronic components maker DiscoverIE could transfer its Sri Lankan operations to China or India amid political unrest in the country. The London-listed firm, which designs and manufactures computer chips and transformers for the wind energy market, has drawn up contingency plans to ensure output levels remain the same as the company experiences heightened demand. [...]
Kit hits the fan: Retailers running out of England Women’s shirts ahead of Euros final July 28, 2022 Retailers are running out of England Women’s football shirts ahead of the Lionesses’ Euro final against Germany on Sunday. The official England online store, kit maker Nike’s website and a host of high street retailers had sold out of all but extra-small women’s home shirts, which are priced at £75, on Thursday. “We have seen [...]
Dock workers join industrial wave and call for strike at Felixstowe July 28, 2022 Members of the union Unite working at the port of Felixstowe have called for strike over salaries. The dock workers join the wave of industrial action which has led to what many call the “summer of discontent.” The union announced that 92 per cent of workers balloted voted in favour of walking out on an [...]
UK services hamstrung by ‘bizarre’ neglect in trade policy, lobby group says July 28, 2022 The UK’s services sectors are being hamstrung by political neglect and a lack of attention in trade policy, a top City group warned today.
Hefty £1.5bn trading error legal charge erodes Barclays profits July 28, 2022 A £1.5bn legal charge for a trading error has eroded British bank Barclays’s profits, it announced today. Hefty litigation and regulatory costs to deal with selling too many financial products dealt a major blow to Barclays’s first half earnings. Pre-tax profits dropped by a quarter to £3.7bn in the six months to June, down from [...]
Upbeat earnings fail to turn investors’ eyes from steep US technical recession July 28, 2022 A string of upbeat earnings was not today enough to cushion City investor jitters over a slowdown in the US economy. London’s premier FTSE 100 index dipped 0.04 per cent to 7,345.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.1 per cent [...]
Lithium battery maker to build £190m megafactory in the UK in global EV push July 28, 2022 Lithium battery maker AMTE Power is set to build a so-called megafactory in the UK, in a bid to build on “a strong heritage of innovation” in the country as opposed to mainland Europe, which has equally attractive financial incentives. The London-listed firm, which also makes sodium batteries to store renewable energy, saw shares surge [...]
Cost of living crisis prompts almost a third of UK workers to take second job July 28, 2022 Nearly third of workers in the UK are seeking to work two jobs to support themselves as the cost of living crisis sends prices of essentials soaring. 32 per cent of workers are aiming to take on a second job in addition to their current job to make more money, a national survey of 2000 [...]