Shell to build Europe’s largest hydrogen plant July 6, 2022 Shell has announced plans to build Europe's largest renewable hydrogen plant in the Netherlands, which will be operational in just three years time.
Rising mortgage costs already eating into a third of annual income, research finds July 6, 2022 The rising cost of a mortgage is already eating into nearly a third of homeowners’ annual income, according to new research, casting even more concern over looming rates rises. UK households are this year facing a historic cost of living squeeze, which is expected to prompt the Bank of England to hike interest and mortgage [...]
Crypto lender Voyager Digital files for bankruptcy amidst crash July 6, 2022 Voyager Digital has filed for bankruptcy as the crypto crash deepens. A week after halting withdrawals, deposits, and trading on its platform, the crypto lender filed for voluntary Chapter 11 bankruptcy in the US on Tuesday. “This comprehensive reorganization is the best way to protect assets on the platform and maximize value for all stakeholders, [...]
Zahawi to review planned Corporation Tax hike as PM clings on July 6, 2022 New chancellor Nadhim Zahawi has vowed to review a planned increase in Corporation Tax for the UK’s largest companies as Boris Johnson tries to cling onto power. Zahawi told the BBC today that “nothing was off the table”, including a potential scrapping of a planned increase in Corporation Tax for the UK’s largest firms from [...]
BBC facing defamation claims over false ‘orgasm cult’ podcast allegations July 6, 2022 A High Court hearing is scheduled for tomorrow involving Nicole Daedone, a relatively well-known American relationships expert motivational speaker and originator of the so-called Orgasmic Meditation practice known as “OM”, together with former OneTaste sales director Rachel Cherwitz and OneTaste Inc itself. They will seek to persuade the High Court to exercise its discretion and [...]
Bank of England will sign off steeper rate hike if inflation persists, chief economist warns July 6, 2022 The Bank of England will ramp up the pace of its tightening cycle if inflation continues to motor ahead, its chief wonk said today. Speaking at the London and Qatar centre for global banking and finance conference at Kings College, Huw Pill, chief economist at the Bank, said its latest forward guidance reflects “my willingness [...]
Wounded Boris Johnson in fight of his life after shock resignations: Westminster numb as UK wakes up with new chancellor July 6, 2022 After a night of high drama in Westminster, which saw a pair of Cabinet resignations and a series of Government exits threaten to force the Prime Minister from Number 10, Boris Johnson fights on this morning to save his premiership, or what is left of it. Rishi Sunak quit as chancellor on Tuesday, alongside Sajid [...]
Chairman of abrdn’s Chinese investment vehicle blames ‘zero-Covid-19’ policy for collapsing returns July 6, 2022 The chairman of abrdn’s Chinese investment vehicle has pinned collapsing returns on Beijing’s controversial ‘zero-Covid-19’ stance and geopolitical woes. While the country is still considered to have significant growth prospects in the long-term, returns on assets in the country have plunged 23 per cent in the six months to 30 April, reversing a nearly 19 [...]
Govt slammed as ‘flat-footed’ as MPs warn famous British goods to suffer under post-Brexit UK-Australia trade deal July 6, 2022 A Commons committee has warned that some famous British goods could lose out under the UK trade deal with Australia. The International Trade Committee Chair criticised “flat-footed” Government negotiating tactics, as cross-party MPs flagged concerns that household-name British products are set to lose out under the first full trade deal to be signed since Brexit. [...]
Abrdn launches £300m share buyback programme July 6, 2022 Asset manager Abrdn announced a £300m share buyback programme this morning as it looks to put excess cash back in shareholders’ pockets.