Bank of England urges greater crypto regulation after crash to prevent financial stability risks July 5, 2022 The Bank of England called for a strong regulatory regime for crypto after the recent crash to prevent financial stability risks in the UK. In its Financial Stability Report today, the Bank said the “extreme volatility” in crypto recently exposed several vulnerabilities in crypto markets and was similar to past volatility in traditional financial systems. [...]
Delivery mayhem: Unite confirms Royal Mail manager strike from 20 July July 5, 2022 Over 2,000 Royal Mail managers will strike later this month as the battle over job and pay cuts continue to haunt the company. The Unite trade union said this afternoon that industrial action would immediately impact the postal and parcel service in the UK, with strikes set to take place between 20 July to 22 [...]
First national rail strike since 1995 looms as union ballots members at 10 different train firms July 5, 2022 The country will be brought to an unprecedented standstill if train drivers vote for their first national strike since 1995. Aslef union members are to be balloted over industrial action at 10 different train firms across the country. It was also reported there was similar action proposed by the TSSA union, which represents station and [...]
Boris Johnson’s plan for 50-year mortgages is outright ‘risky’ and solely aimed at inflating the market, warns property guru July 5, 2022 Boris Johnson’s latest proposal for the housing market is “another risky, spontaneous announcement aimed at temporarily inflating the housing market” according to the boss a major property firm. David Alexander, the chief executive officer of DJ Alexander Scotland, part of the Lomond Group, told City A.M. today he believes that the comments from the Prime [...]
Cautious consumers send chill through UK services economy July 5, 2022 Consumers are rolling back spending at pubs, bars and restaurants in response to rampant inflation whacking their budgets, reveals a closely watched survey published today. New business growth in Britain’s services industry, its economic engine, slowed to its worst level in 16 months in June, according to S&P Global’s purchasing managers’ index (PMI). The cool [...]
NHS takes it to the sky with new fleet of drones to drop chemotherapy drugs across UK in first of its kind July 5, 2022 The NHS said this morning it plans to use drones to deliver chemotherapy drugs in a bid to speed up the delivery of vital medicines across the UK. It is hoped that using drone technology will one day enable doctors to make “same-day delivery” orders for drugs and medical equipment from anywhere in the country. [...]
Sainsbury’s boss has grim warning for Brits: The pressure on your budgets will only intensify July 5, 2022 The CEO of Sainsbury’s warned this morning that rising pressure on household budgets “will only intensify over the remainder of the year” as he pledged to invest more money into improving value for shoppers. Simon Roberts, chief executive of the supermarket group, said it is working to reduce costs across its operations amid continued inflation. [...]
Johnson accused of lying over Pincher sexual misconduct scandal by ex-top official July 5, 2022 Boris Johnson and Number 10 have been accused of lying over the Chris Pincher sexual misconduct scandal, with the former head of the Foreign Office claiming the Prime Minister knew about formal complaints against the MP. Lord Simon McDonald today wrote to parliament’s standards watchdog to say that Johnson received an in-person briefing on an [...]
Ikea announces sale in Russia ahead of exit as staff run through store in search of a bargain July 5, 2022 People were seen running through Russian Ikea stores to grab a bargain as the retailer announced it is holding a sale before quitting the country. Footage shared online reportedly showed people sprinting through a store, while the Russian-language site for the Swedish furniture giant reportedly went down under weight of demand. The flat-packing retailer announced [...]
OneWeb wins unanimous approval for ‘historic’ push into Brazil July 5, 2022 Taxpayer-backed satellite giant OneWeb has won unanimous approval from Brazil’s telecommunications watchdog for landing rights in the country, in a “historic” milestone for the company. It means the British communications darling can build satellite hubs known as gateways, critical pieces of infrastructure for solid satellite connection across Latin America and the Caribbean. The 15-year deal, [...]