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, [...]
M&C Saatchi bats away yet another takeover bid May 17, 2022 The investment vehicle spearheaded by tech tycoon Vin Murria has launched a fresh takeover bid for M&C Saatchi today which values the advertising giant at £253.6m.
Don’t try and call a bottom to the crypto crash, warns UBS investment chief May 17, 2022 Investors should prepare for crypto to continue cratering after a market rout wiped more than $400bn from the market last week, a top investment chief warned today.
Rare items from personal collection of legendary Radio1 DJ John Peel to be auctioned off May 17, 2022 Rare items from the extensive personal archive of pioneering DJ John Peel will be up for auction, including by John Lennon, the Rolling Stones, Pink Floyd and a hand-written note from Queen’s Freddie Mercury. The legendary BBC Radio 1 host, who died in 2004, had an enormous musical collection of 120,000 albums estimated to be [...]