Tory latest: Javid and Hunt promise tax cuts as Shapps defends decision not to resign from Boris cabinet July 10, 2022 Press Association Sajid Javid has said his tax-cutting plans would cost around £39 billion per year, but this did not include slashing fuel duty further in the short-term. The Tory leadership candidate said he does not “believe in unfunded tax cuts”, adding: “I will be setting out in the next few days a scorecard which [...]
Chancellor Nadhim Zahawi becomes latest bidder in Tory leadership race July 10, 2022 Newly-appointed Chancellor Nadhim Zahawi has become the latest bidder in the Tory leadership race. Zahawi has now thrown his hat in the ring, joining the likes of former Chancellor Rishi Sunak as well as transport secretary Grant Shapps – who made his bid earlier today – and Attorney General Suella Braverman. The former education secretary [...]
Next era is knocking: Possible runners and riders to replace Boris Johnson as Tory leader and PM July 10, 2022 Boris Johnson announced on Thursday he has agreed to step down as Prime Minister in September, following the resignation of Sajid Javid and Rishi Sunak on Tuesday and a wave of government resignations this week. Looking ahead, City A.M. zooms in on potential frontrunners to replace Johnson as Prime Minister. Rishi Sunak The former Chancellor’s [...]
Downfall of a Prime Minister: How handling of Chris Pincher scandal spiralled into Boris Johnson’s worst crisis July 10, 2022 An isolated Boris Johnson has agreed to leave Downing Street this September – following haemorrhaging support across the Tory ranks in the wake of the Chris Pincher scandal. The Prime Minister announced his resignation yesterday. After a dramatic wave of Government resignations this week and a slew of former allies withdrew their backing his political [...]
Calls to criminalise ‘downblousing’ and sharing pornographic deepfakes are gaining momentum July 10, 2022 The sharing of “downblouse” images and pornographic “deepfakes” without consent should be made crimes, according to recommendations to bring laws on intimate image abuse into the smartphone era. The Law Commission said a “patchwork” of criminal offences has not kept pace with technology and is failing to protect all victims, while perpetrators evade justice. It [...]
Musk v Twitter: Legal battle looms after billionaire pulls out of £37bn takeover July 10, 2022 Elon Musk may be gearing up for a lengthy legal battle after Twitter said it would be suing the billionaire for backtracking on his $44bn (£37bn) takeover.Musk accused the platform of breaching the terms of the takeover agreement as well as making “false and misleading representations.” “Sometimes Twitter has ignored Mr Musk’s requests, sometimes it [...]
Transport secretary Grant Shapps launches Tory leadership bid July 9, 2022 Transport secretary Grant Shapps has launched his bid for the Tory leadership. “It is easy to criticise Boris after keeping one’s head down for years while being happy to benefit from his patronage,” he told the Sunday Times. “I am glad that I did not do that. “I have not spent the last few turbulent [...]
Half of Brits in favour of scrapping HS2 July 9, 2022 Half of Britons are in favour of scrapping the HS2 project as costs continue to mount. Around 52 per cent of those who voted Conservatives in the 2019 election are against the project, compared with 17 per cent who think the high-speed rail from London to the Midlands should go ahead, the Telegraph first reported. [...]
Aircraft lessor writes off $1.1bn loss as planes remain in Russia July 9, 2022 Aircraft leasing company SMBC has written off a $1.1bn loss as 34 of its planes remain stranded in Russia following the invasion of Ukraine. The Dublin-headquartered company, one of the biggest in the world, decided to expense the fleet’s value this financial year, as the war in Ukraine is expected to continue for some time [...]
Former minister Steve Baker says Sunak in ‘unfortunate bind’ as he backs Braverman’s leadership bid July 9, 2022 Former minister Steve Baker has said Rishi Sunak is in a “unfortunate bind” as he backed Attorney General Suella Braverman’s Tory leadership bid. “Because Rishi’s record is of saying he wants low taxes, but then putting them up, he’s now got to double down on that record during this campaign,” Baker told BBC Breakfast today. [...]