European Commission urges EU to be ready for cut-off in Russian gas supplies May 17, 2022 The European Union should prepare for Russia to switch off gas supplies into Europe, the trading bloc's executive arm will warn tomorrow.
Buzzfeed runs out of buzz as losses swell and time spent on sites dwindle May 17, 2022 Losses continue for media giant Buzzfeed as the firm struggles to gain momentum following its market debut last year.
Petrol firms defend ‘nauseating prices’ as business minister implores retailers to pass on fuel duty cut May 17, 2022 Retailers have defended forecourt prices as politicians call for costs to be slashed after a fuel duty cut earlier this year. Business minister Kwasi Kwarteng has written to businesses to implore them to pass on the savings from a 5p per litre cut in fuel duty introduced in March. It comes after motoring group the [...]
Business travel is back as card spending recovers from pandemic May 17, 2022 Business travel recovery is on its way back as card spending has recovered following the easing of Covid travel restrictions. According to American Express Global Business Travel (Amex GBT), in the last three weeks of April card spending reached 72 per cent of 2019 levels, going up 11 percentage points compared with the last week [...]
Tory MP arrested for rape and asked to stay away from Parliament May 17, 2022 A Conservative MP has been arrested on suspicion of rape and asked to stay away from the parliamentary estate. The Metropolitan Police said the alleged sexual offences were committed between 2002 and 2009 in the capital. A statement from Scotland Yard stated: “A man was arrested on suspicion of indecent assault, sexual assault, rape, abuse [...]
PM calls on industry to build Crossrail 2 following Elizabeth line opening May 17, 2022 Prime Minister Boris Johnson has called on the industry to build Crossrail 2 on the same day he attended the Elizabeth line’s opening. Johnson said the government would back the project but businesses would need to come up with a plan to pay for it. “The real thing for us now is to think about [...]
Coalition of football clubs file lawsuit against insurers in wake of landmark Axa ruling May 17, 2022 A coalition of football clubs have filed a multi-party lawsuit against six major insurers seeking a larger payout for money lost during Covid-19, after the UK’s Supreme Court said businesses are allowed to reclaim losses suffered due to the impacts of the pandemic. A consortium of 20 separate claimants – including Arsenal, Liverpool, and Aston [...]
Tiger Global slashes bets on big tech amid global sell-off May 17, 2022 Prolific tech investor Tiger Global has slashed its bets on big tech firms in the first quarter of the year after suffering heavy losses amid a global tech rout.
Pubs and restaurants battle to keep prices competitive amid ‘intense pressure’ on margins May 17, 2022 The hospitality sector has warned of “intense pressure” on margins while shoppers have been told food prices could surge as much as 10 per cent. Marks & Spencer chairman Archie Norman cautioned that shoppers could see an even pricey weekly shop amid historic levels of inflation. Speaking to the BBC Radio 4’s Today programme on [...]
Allianz told to pay $6bn after SEC charges three execs with fraud over Structured Alpha funds scandal May 17, 2022 The US financial watchdog has told German financial services behemoth Allianz to pay $6bn (£4.8bn) after charging three of its senior executives with fraud in relation to the $11bn collapse of the firm’s Structured Alpha funds. Allianz agreed to pay $1bn to the US Securities and Exchanges Commission (SEC) and a further $5bn to investors, [...]