Luxury resort developer jailed for 12 years over £226m fraud September 30, 2022 A “thrice bankrupt fraudster”, who lost investors almost £400m through a “fatally flawed” Caribbean property scheme, was jailed at Southwark Crown Court today. David Ames, 70, a former double-glazing seller from Essex, was sentenced to 12 years in prison today, after being convicted of defrauding investors of £226m. Ames’ Harlequin property development company collapsed in [...]
Putin declares four regions of Ukraine part of Russia as nuclear warnings rumble September 30, 2022 Russian President Vladimir Putin has declared four Ukrainian regions part of Russia, amid renewed warnings the Kremlin may use a strategic nuclear weapon. In a ceremony at the Kremlin, the authoritarian leader announced that Donetsk, Luhansk, Kherson and Zaporizhzhia would be subsumed by Russia, following four ‘referendums’, which were widely declared as illegal and a [...]
Think-tank: Kwarteng budget “less out of control than the market thinks” September 30, 2022 ONE of the country’s leading economic think-tanks has described estimates that Kwasi Kwarteng’s package of tax cuts in last week’s mini budget could cost £45bn as a “gross exaggeration.” The package has gone down badly with both markets and politicians, with the cost of UK borrowing spiking due to concerns over runaway government spending. However [...]
Budget watchdog to deliver forecasts next week after emergency meeting with PM September 30, 2022 The UK's independent fiscal watchdog confirmed it will deliver an initial forecast for the government's so-called mini budget next week after an emergency meeting with the chancellor and prime minister today.
Royal Mint releases new £5 and 50p coins with King Charles’ effigy September 30, 2022 Coins bearing the face of new monarch King Charles III have been unveiled by the Royal Mint. The official effigy of the sovereign appears on a commemorative £5 coin and 50p, marking the life of his mother, the late Queen Elizabeth II. The portrait adorning both coins was created by renowned British artist and sculptor [...]
Govt must decide which ‘unpleasant combination’ of investment and benefit cuts will fuel mini-budget September 30, 2022 The government will have to decide which “unpleasant combination” of investment and benefit cuts will fuel its mini-budget stimulus package. a leading think tank has said. Prime Minister Liz Truss is appearing to stick with to Chancellor Kwasi Kwarteng’s mini-budget plans, despite the Tories sinking in the polls overnight with YouGov saying Labour now has [...]
Aston Martin bags hefty investment from Saudi sovereign fund in £654m raise September 30, 2022 Aston Martin has bagged a major investment from Chinese carmaking giant Geely today in a £654m capital raise to bolster its books.
UK avoids recession with 0.2 per cent growth September 30, 2022 The UK economy grew 0.2 per cent in the second quarter of this year as it bucked initial estimates of a 0.1 per cent contraction in the the three months to June, official figures showed today
Cineworld dials back losses from Covid-hit year ahead of ‘challenging’ period September 30, 2022 Cineworld has managed to dial back some of its losses over the past year amid a “challenging” period for the beleaguered cinema chain, the company said on Friday. The British entertainment behemoth filed for bankruptcy in the US just weeks ago. Admissions in the six month period surged more than 400 per cent to 82.8m [...]
Nike and JD Sports sign transatlantic deal to give UK customers more new shoes September 30, 2022 British and American sports brand giants JD Sports and Nike have shaken hands on a new partnership to give customers access to more products and rewards. The Connected Partnership deal signed this week, the first-of-its-kind in Europe, will give customers the chance to get their hands on a range of exclusive products from the US-shoe [...]