Truss mulls another tax cut U-turn after bruising day for PM October 14, 2022 Rumours that Liz Truss could U-turn on her tax cut plans intensified yesterday, with the Chancellor telling journalists “let’s see” when asked about the possibility of a change of course. Number 10 held crisis talks over whether to scrap more of the mini-budget as speculation over the Prime Minister’s future reached fever pitch in Westminster. Many [...]
Battersea Power Station opens doors to the public after decades since landmark closed October 14, 2022 After four decades out of action, London’s iconic Battersea Power Station is opening to the public today, as owners of the Grade II listed landmark hope to cement it as one of the capital’s top retail and leisure destinations. More than 60 shops and bars are opening today at the Art Deco development, including a [...]
Tony Matharu: Meet the hotelier on a mission to get London back in full force October 14, 2022 From the floor-to-ceiling glass of suite 725 at Tony Matharu’s Tower Suites hotel on a sunny October morning, one can see flocks of tourists heading towards the Tower of London and Tower Bridge. It looks for all the world like London is back on its feet, and for Matharu, that’s no surprise. “Where we sit [...]
Hotelier: Rail strikes cost me half a million – it’s time to get round the table October 14, 2022 As if life wasn’t tough enough for the hospitality industry as it recovers from the pandemic and battles through economic headwinds, for Tony Matharu – owner of three hotels across London – there is another growing concern – rail strikes. “Strikes are difficult for all businesses, especially rail strikes which negatively impact most businesses.” We [...]
Legal woes weigh on GSK despite ‘exceptional’ trial for landmark RSV jab October 14, 2022 GlaxoSmithKline (GSK) shares slipped into the red yesterday despite “exceptional” results from the latest trial of its RSV vaccine as legal woes dampen investor confidence. The jab’s overall efficacy of 82.6 per cent was hailed as “pivotal” in finding a vaccine against RSV, which is a major cause of morbidity in toddlers and the elderly, [...]
Computer chip supply could be recovering as inflation weighs on demand October 14, 2022 There are signs of a potential recovery in the supply of computer chips, as a handful of the world’s largest semiconductor firms caution weaker demand. The supply of semiconductors, microchips used in most of today’s electronics, is “gradually improving” following several years of trickling quantities and rampant demand, British electronic components manufacturer DiscoverIE said yesterday. [...]
Labour would ban fracking ‘for good’ if Starmer gets into power October 13, 2022 Labour has committed to ban fracking “for good” if it was to get into office, while condemning a plan for a price cap on renewables. Keir Starmer’s party called of the Prime Minister to call of plans to block renewable energy projects, while calling fracking “expensive, dirty, and dangerous” Since the Russian invasion of Ukraine [...]
Investors scramble to dump UK property funds as valuations dive amid widening Kwarteng mini-budget chaos October 13, 2022 Following last week’s bond market turmoil, which sent shockwaves through the City, investors are now scrambling to exit UK property funds. Since the new chancellor, Kwasi Kwarteng, presented his Mini-Budget at the end of September, the pace at which investors are pulling out of UK commercial real estate funds has accelerated. In the 10 days [...]
Exclusive: Government has botched Bulb crisis, says Westminster chair October 13, 2022 The Government has wasted Bulb protracted and pricey stint in administration, driving up costs for consumers.
UK borrowing costs drop as Kwarteng hints at mini budget U-turn October 13, 2022 UK borrowing costs collapsed today driven by chancellor Kwasi Kwarteng sending the strongest signal yet he will roll back elements of last month’s mini budget. Rates on UK gilts dropped across the curve after they yesterday climbed to their highest level since the day the Bank was forced to step in. Yields on the 30-year [...]