MPs launch crypto inquiry to shore up defence against market crash July 13, 2022 The influential Treasury select committee has launched an inquiry into the role of crypto-assets in the UK today as lawmakers look to shore up the UK's financial system against another crypto crash.
Oil prices tumble below $100 milestone as hawkish Fed spreads its wings July 13, 2022 Oil prices have slumped below $100 amid fears of reduced demand and interest rate hikes from the Federal Reserve.
Exclusive: Tory leadership hopefuls’ income tax cut pledges will not support poorest July 13, 2022 Tory leadership hopefuls’ promises to bring forward the planned income tax cut will not help “those in real financial need”. That’s according to Tim Sarson, head of tax policy at KPMG UK, who shared his thoughts exclusively with City A.M. on what the eventual winner of the contest and the long-term chancellor need to prioritise. [...]
Tory leadership: Zahawi and Hunt knocked out after first vote July 13, 2022 Nadhim Zahawi and Jeremy Hunt have been knocked out of the Tory party leadership race in the first round, with Rishi Sunak attracting the most votes from his fellow Conservative MPs. Sunak got 88 votes, with Penny Mordaunt second on 67, Liz Truss in third on 50 and Kemi Badenoch fourth on 40. Zahawi and [...]
‘Did you hear that?’ Astronomers stunned by strange but persistent ‘heartbeat’ from far-off galaxy July 13, 2022 A strange and persistent radio signal from a far-off galaxy that appears to be flashing in a pattern similar to a heartbeat has been detected by astronomers. It has been classified as a fast radio burst (FRB) – an intensely strong burst of radio waves of unknown astrophysical origin that typically lasts for a few [...]
Naftogaz asks creditors to defer debt payments as Russian invasion takes its toll on energy giant July 13, 2022 Ukraine's state-owned energy giant is struggling for cash, with many of its customers unable to pay their bills following Russia's invasion.
Gatwick crowned UK’s worst airport, as 3.2 per cent of flights axed July 13, 2022 Gatwick was crowned the UK’s worst airport for cancellations. Flights from the south London hub are 10 times more likely to be axed compared with Stansted, according to data shared with Sky News by intelligence company OAG. Figures revealed that Gatwick’s cancellations were 3.2 per cent of total flights in 2022, compared with Heathrow – [...]
‘Stop Sunak’: Downing Street denies running smear campaign despite fierce attacks from Boris Johnson allies July 13, 2022 Downing Street this afternoon denied running an anti-Rishi Sunak smear campaign as Boris Johnson’s allies singled out the former chancellor for criticism in an increasingly bitter leadership contest. The caretaker Prime Minister’s press secretary insisted on Wednesday that Johnson is “staying neutral” despite his remaining loyalists throwing their support behind Liz Truss. Sunak, who currently [...]
Taiwanese iPhone maker snaps up stake in China’s top chip firm amid geopolitical storm July 13, 2022 Taiwanese iPhone manufacturer Foxconn has reportedly bought a stake in China’s top chip maker, amid escalating geopolitical tensions between both nations. The deal, which will require approval from Taiwan’s investment commission, forms part of an effort to increase its chip shareholdings in recent months after demand soared during the pandemic. It comes as state-backed Tsinghua [...]
UKH Hacker Young sanctioned after Laura Ashley audits July 13, 2022 UKH Hacker Young has been “severely reprimanded” and slapped with a £350,000 fine by the accounting watchdog over its audit of Laura Ashley. The Financial Reporting Council has imposed serious sanctions on the firm for its audit of the fashion retailer for the 2018 and 2018 financial years. The retailer, which had 155 UK stores [...]