Half of Brits in favour of scrapping HS2 July 9, 2022 Half of Britons are in favour of scrapping the HS2 project as costs continue to mount. Around 52 per cent of those who voted Conservatives in the 2019 election are against the project, compared with 17 per cent who think the high-speed rail from London to the Midlands should go ahead, the Telegraph first reported. [...]
Aircraft lessor writes off $1.1bn loss as planes remain in Russia July 9, 2022 Aircraft leasing company SMBC has written off a $1.1bn loss as 34 of its planes remain stranded in Russia following the invasion of Ukraine. The Dublin-headquartered company, one of the biggest in the world, decided to expense the fleet’s value this financial year, as the war in Ukraine is expected to continue for some time [...]
Former minister Steve Baker says Sunak in ‘unfortunate bind’ as he backs Braverman’s leadership bid July 9, 2022 Former minister Steve Baker has said Rishi Sunak is in a “unfortunate bind” as he backed Attorney General Suella Braverman’s Tory leadership bid. “Because Rishi’s record is of saying he wants low taxes, but then putting them up, he’s now got to double down on that record during this campaign,” Baker told BBC Breakfast today. [...]
Defence secretary Ben Wallace pulls out of Tory leadership race July 9, 2022 Defence secretary Ben Wallace has pulled out of the Tory leadership race. Wallace announced his decision via Twitter, saying he would continue focusing on his job at the Ministry of Defence. “After careful consideration and discussing with colleagues and family, I have taken the decision not to enter the contest for leadership of the Conservative [...]
BA axes almost one in five flights as travel chaos drags on July 9, 2022 British Airways (BA) has reportedly axed 20 per cent of its summer schedule as travel chaos drags on. According to an analysis by the Times, when compared with what was announced in April, BA cancelled around 18 per cent of flights for July, August and September. That is 5 per cent more than what was [...]
Twitter plans to sue following Musk’s withdrawal from $44bn takeover July 9, 2022 Twitter has announced it will sue Elon Musk if he refuses to go ahead with his $44bn takeover. Chairman Bret Taylor said the company’s board was “committed to closing the transaction” agreed upon with the serial entrepreneur and it would plan “to pursue legal action to enforce the merger agreement.” Under the agreement’s terms, Musk [...]
80 per cent of all Brits have less than £500 in their account as hordes of people are slipping into debt July 9, 2022 The number of customers with persistent debt problems has jumped by almost a third as the cost-of-living crisis bites further, the boss of Lloyds said this morning. Charlie Nunn, who took over at the finance giant, said customers are “concerned” about the economy but said he believes many are talking “too negatively” about the financial [...]
Boris Johnson vs Michael Gove: A long but rocky relationship that ended with a desperate sacking July 9, 2022 Not long ago, Michael Gove quipped that his 2016 sabotage of Boris Johnson’s Tory leadership bid had been like an “unexploded bomb going off in my hands”. He was speaking from a position of safety last October, while still in charge of the Prime Minister’s levelling up agenda, but the joke highlighted the enduring uneasiness [...]
Solvency II reforms will not be a ‘free lunch’ for insurance sector, Bank of England says July 8, 2022 The Bank of England (BoE) has said its post-Brexit shakeup of the rules that govern the UK’s insurance industry will not be a “free lunch” for the sector, that puts policyholders at risk. In a speech on Friday, Sam Woods, chief executive of the BoE’s Prudential Regulation Authority (PRA) said policyholders must be protected as [...]
Tesco and Heinz resolve pricing war with products set to return to shelves July 8, 2022 Tesco and Heinz announced they had resolved a pricing war today and said “lorries full of Heinz products” will “hit the road shortly”, after the grocer pulled the firm's products from shelves at the end of last month.