Litigation funders warn EU regulation could hinder class-action lawsuits October 6, 2022 UK litigation funders have hit out at EU plans to regulate the sector in arguing the bloc’s proposals to cap fees could prevent class action lawsuits going forwards. The EU’s proposal is clear the litigation funding sector has the potential to support access to justice and help ensure public cases are brought to court, [...]
EXCLUSIVE: Starmer sounds alarm on house price ‘shocks’ as mortgage rates rise October 6, 2022 Sir Keir Starmer has warned about potential housing price “shocks” across the UK in the wake of dramatic mortgage rate rises. The Labour leader today told City A.M. there’s “no market confidence” in the government and that “we are going to see these shocks in mortgages and housing as a direct result of it”. Starmer [...]
Sweden confirms detonation caused ruptures across Nord Stream pipeline October 6, 2022 Sweden's investigation of the Nord Stream pipelines have bolstered suspicions of "gross sabotage" involving detonations.
Pound slumps against US dollar after Fitch sounds alarm on UK finances October 6, 2022 The pound slumped against the US dollar today while UK debt sold off after one of the world’s top credit rating agencies issued a sombre warning to investors about the country’s finances. Sterling weakened 1.55 per cent against the greenback to buy 1.115. It fell by a slightly smaller amount against the euro too. The [...]
FCA slaps City broker with £531,000 fine over missing suspicious transactions October 6, 2022 The Financial Conduct Authority (FCA) has slapped City stock broker Sigma with a £531,000 fine after it failed to identify 97 suspicious transactions. The watchdog also found the firm guilty of inadequately reporting 56,000 contracts for difference – an insurance tool used by market participants – between December 2014 and August 2016. Both former and [...]
£1.5bn Liverpool Street station upgrade sparks conservationists’ concerns October 6, 2022 A £1.5bn proposed upgrade of Liverpool Street station has sparked concern among conservationists. Shard Quarter developer Sellar, alongside Network Rail and Elizabeth line operator RMT, unveiled the plans today. The mixed use blueprint includes plans for up to 10 floors of office space, as well as six floors taken up by the Andaz hotel. Developers [...]
It will (probably) be alright: National Grid says winter blackouts are ‘unlikely’ October 6, 2022 The UK should avoid blackouts this winter, according to the National Grid, with sufficient supplies available to meet Brits' energy needs.
Exclusive: Manufacturing sector lacks clear data for net zero drive October 6, 2022 A lack of shared reporting standards for carbon emissions across industry could jeopardise the UK’s net zero ambitions.
Porsche surpasses Volkswagen as EU’s most valuable car maker October 6, 2022 Porsche has overtaken parent company Volkswagen as Europe’s most valuable car maker as its valuation increased to around €84bn (£73.5bn) a week after its IPO. The luxury car maker’s value was initially pushed up to €85bn as shares surged to €93 earlier this morning. But even though shares stabilised to around €91 by lunchtime, Porsche’s [...]
Exclusive: UK data-driven lender Channel launches £300m plan for fintech SMEs October 6, 2022 A data-driven lending firm has launched a new £300m funding plan for fintechs SMEs. A third of the UK-based Channel Capital Advisors’ £300m shot-in-the-arm will be released immediately, City A.M. can exclusively reveal. The fund, which has backing from global investors, will support digital lending fintech platforms that need cash to finance their loans to [...]