Exclusive: Bank of England is ‘taking money from homeowners to curb inflation’ August 11, 2022 HOUSE prices will soon start to “flatline” following years of double digit rises, a leading property association claims this morning. Property values have continued to soar over the past two years in most regions of the UK – often defying predictions by economists who are convinced a crash is on the horizon. The National Association [...]
100,000 rebel Brits pledge non-payment of energy bills by cancelling their direct debits August 11, 2022 Over a hundred thousand people will soon have added their name to a pledge to cancel their direct debits for gas and electricity on 1 October if the government fails to adequately address the crisis of sky rocketing energy bills. The live tally of number of pledges can be viewed at dontpay.uk – currently at [...]
Sunak or Truss should have ‘backbone’ to strike free movement deal with EU, says Ryanair chief August 11, 2022 The next prime minister should have the “backbone” to secure a deal with the European Union to open up the free movement of labour, Ryanair’s chief executive Michael O’Leary said this morning. He told BBC Radio 4’s Today programme: “I think the first thing they should do to boost the British economy is prioritise a [...]
Four million Russians to lose their jobs due to Western sanctions August 11, 2022 Four million Russians are set to lose their jobs due to the impacts of Western sanctions, according to new research from the Kyiv School of Economics. The sanctions are set to see Russia’s economy contract by up to 9.5 per cent this year, the study shows. High oil and gas prices have shielded Russia from the [...]
Era of 10 euro budget tickets is officially over, says Ryanair boss Michael O’Leary August 11, 2022 Ryanair’s chief said this morning that the airline’s trademark 10 euro fares will not be seen for a “number of years” due to soaring fuel prices. In an interview with BBC Radio 4’s Today programme, Michael O’Leary said he expected Ryanair’s average fare to rise by about 10 euros over the next five years, from [...]
Tense Kenya still waits for new president after cliffhanger election: Ruto and Raila in neck and neck race August 11, 2022 NAIROBI – Millions of Kenyans are nervously awaiting the results of Tuesday’s presidential election, as day three of vote counting across the country gets underway. Since Tuesday evening an extremely close race has unfolded between the two main candidates for the presidency. Opposition leader Raila Odinga, who is backed by the outgoing president and seen [...]
Savills revenue spills into the £1bn mark as boss warns of risk to booming activity August 11, 2022 Estate agency giant Savills has continued to make hay while the sun shines, with revenue spilling over into the £1bn mark. Revenue up over 10 per cent to £1.03bn in the six months to 30 June, up from £932.6m in the same period last year. Like housebuilders, estate agencies have also been reaping the scaling [...]
Covid’s lingering impact drags down Petrofac revenues August 11, 2022 Covid-19’s challenges for the industry are still being felt as Petrofac reported declining revenue in the first half of 2022 at $1.2bn (£0.98), a drop from the $1.6bn (£1.3bn) in the same period last year. The energy services company’s net loss was at $14m (£11.4) with EBIT at $2m (£1.6m), a contrast from the $49m [...]
Coca-Cola bottler details £160.2m hit from Russia sales suspension August 11, 2022 Coca-Cola HBC has revealed it took a hit worth £160.27m after suspending the sale of its beverages in Russia following the invasion of Ukraine. In interim results, the soft drink bottler said it anticipated charges of around £69.17m in the second half of the year after depleting its stocks and suspending production and sales of [...]
Exclusive: Industry body warns against more stringent windfall tax August 11, 2022 Offshore Energies UK has warned against further tampering to the windfall tax, which it believes would hurt investor confidence.