Film and TV trade body says plunging pound doesn’t guarantee booming sector October 4, 2022 Although the plunging value of the pound could mean big bucks for the UK film and TV sector, the trade association Pact warned that the industry must do more to keep up with this demand. It comes after Adrian Wootton, the chief executive of the British Film Commission (BFC), told the Guardian that demand for [...]
Kwarteng trashes market bets on earlier OBR report and fiscal plan October 4, 2022 The pound today climbed to its highest level against the US dollar in two weeks despite chancellor Kwasi Kwarteng trashing market expectations of a sooner-than-expected fiscal plan. Sterling surged 0.78 per cent against the greenback to buy $1.141. It has now regained all its losses since Kwarteng’s mini-budget rocked the currency last month. UK borrowing [...]
Government chases gas deals with Norway amid supply crunch fears October 4, 2022 The Government is chasing gas deals with Norway, as it looks to ramp up supply security and ensure the lights stay on this winter.
Rolls-Royce boss calls on aviation to ramp up use of biofuels October 4, 2022 Rolls-Royce’s chief executive Warren East has called on aviation to ramp up the use of biofuels to deliver its 2050 net-zero pledges. East – who will step down from the engine manufacturer at the end of the year – said the industry needs transitional technologies like sustainable aviation fuels (SAFs) while it develops greener aircraft. [...]
Goodwin to move staff from Hong Kong to set up in shop in Singapore October 4, 2022 Goodwin Procter has become the latest law firm to set up in Singapore, after outlining plans to relocate staff from Hong Kong. The Boston founded law firm’s new Singapore offices will become its second location in Asia, after Goodwin opened its Hong Kong office in 2008. The launch is set to see two Goodwin partners, [...]
Badenoch plays down hopes of greater access to India for UK services in trade deal October 4, 2022 New trade secretary Kemi Badenoch has warned that any UK-India trade deal is unlikely to vastly increase access to the Indian market for City services firms. Badenoch today confirmed she was sticking to Boris Johnson’s deadline of striking a deal with India by Diwali, 24 October, but watered down expectations about how comprehensive it will [...]
Channel migrants face ban from claiming asylum in Britain in new govt crackdown on illegal arrivals October 4, 2022 Under plans due to be announced by the Home Secretary, migrants crossing the Channel will reportedly face a ban from claiming asylum in Britain. At the Conservative Party conference, Suella Braverman will use her first major speech since taking on the role to set out the proposals, according to The Times. The new laws – [...]
North Sea industry must focus on training offshore workers for green roles October 4, 2022 The North Sea energy sector needs to focus more on training people for green jobs and shifting workers in the oil and gas industry.
Chip designer Arm’s workforce nearly halves despite SoftBank promise October 4, 2022 British semiconductor darling Arm has lost 40 per cent of the workforce built up through a pledge by its owner SoftBank. Japanese investment giant SoftBank promised the UK government that it would help support the chipmaker in becoming a wafer-powerhouse, when it first bought the company in 2016. At the time, SoftBank said it would [...]
Sweden suspect “gross sabotage” of Nord Stream pipelines in the Baltic Sea October 4, 2022 Sweden closed the area around the ruptured Nord Stream pipelines yesterday as their prosecution authority called it a “crime scene” amid speculations of foul play. “Suspected gross sabotage” led Swedish prosecutor Mats Ljungqvist and the coast guard to ban divers and marine vessels, including underwater vehicles, from being within 5.8 miles of the leaks. On [...]