Government debt continues to balloon as Rishi Sunak promises stability October 28, 2022 Government debt ballooned in the second quarter of this year, making up 101.9 per cent of gross domestic product (GDP). New figures released by the ONS show that gross debt was £2,436.7bn between April and June in the UK. At 101.9 per cent of GDP, this puts the UK 15.5 percentage points above the EU [...]
Airbus raises free cash flow to £3.8bn but supply chain remains ‘fragile’ October 28, 2022 Airbus has raised its free cash flow outlook to €4.5bn (£3.8bn) – up from the €3.5bn previously forecast – due to a strong dollar. In the third quarter, the EU plane maker’s revenue went up 27 per cent to €13.3bn, reaching €38.1bn for the nine months to the end of September. On the other hand, [...]
Premier League eyes £30m NFT deal with Sorare October 28, 2022 The Premier League is weighing up £30m-a-year digital tokens deal with Sorare, as the sport pushes into the world of non-fungible tokens (NFTs). According to reports from Mark Kleinman for Sky News, the top English clubs are set to meet with the French start-up later today to discuss a multi-year agreement. It is understood the deal [...]
Shapps’ shale shutdown: Fracking group ‘frustrated and disappointed’ by U-turn on moratorium October 28, 2022 A fracking advocacy group has said it is “deeply frustrated and disappointed” by a government U-turn reintroducing the moratorium for the practice. Grant Shapps confirmed to Parliament this week the UK would “not support shale extraction” unless science can show “categorically that it can be done safely”. The U-turn on Liz Truss’ decision to lift [...]
Ex Chancellor Hammond criticises Sunak for sluggishness on Crypto October 28, 2022 Former Tory Chancellor Lord Philip Hammond has criticised Rishi Sunak for sluggishness on Crypto regulation. Theresa May’s money man hit out at Boris Johnson’s former chancellor calling on him to turn Britain in to a world leader in Crypto. Speaking to FN, he said he was a “little disappointed” the UK was so “far behind” [...]
British Airways owner IAG’s profits soar as leisure demand booms October 28, 2022 British Airways owner IAG is back in the black with a profit after tax of €853m (£736m), as leisure revenue has recovered to pre-pandemic glory. The London-listed firm swung into profit in its third quarter results – ahead of market expectations – after posting a 2021 loss of €574m. IAG’s overall passenger capacity plans are [...]
Outrage grows as UK urges LGBT football fans to ‘compromise’ their sexuality during World Cup in Qatar October 28, 2022 James Cleverly, this week re-appointed as Foreign Secretary, is increasingly under fire for comments he made about how British LGBT football fans should behave while in Qatar for the World Cup. A range of celebrities and thousands of people have taken to social media to express their dismay about Cleverly’s stance. The Foreign Secretary urged [...]
Centrica reopens Rough storage site at reduced capacity in supply security bid October 28, 2022 The UK's largest gas storage site has been reopened by British Gas owner Centrica in a bid to boost supply security this winter.
Kanye West escorted from Skechers HQ after turning up ‘unannounced and without invitation’ October 28, 2022 Kanye West was escorted from the headquarters of trainer firm Skechers after arriving “unannounced and without invitation”. The comfort technology giant issued a statement saying it was not intending to team up with the controversial rapper who was dropped by Adidas earlier this week over racist remarks. Adidas announced it was pulling out of a [...]
Grafton names Eric Born as new chief October 28, 2022 DIY retailer Grafton has appointed Eric Born as its new chief executive officer, it announced on Friday morning. Born will take on the job on 28 November, succeeding Gavin Shark at the helm of the Woodie’s owner. Born has previously served a five year stint running global aviation services giant Swissport International AG, as well [...]