UK automotive industry takes another hit as new car registrations drop to worst June since 1996 July 5, 2022 Registrations of new cars fell by around 24 per cent last month compared with June 2021, according to preliminary figures from the Society of Motor Manufacturers and Traders (SMMT) this morning. This means the UK automotive industry suffered its worst June for new car sales since 1996. In fact, only around 800,000 new cars were [...]
Bank of England orders lenders to strengthen reserves amid ‘deteriorating’ economy July 5, 2022 The Bank of England yesterday ordered lenders to fortify their defences in preparation for the looming economic downturn, warning the City against “excessive” cuts in lending to households and businesses. The central bank, which oversees Britain’s banking sector and the country’s monetary policy, doubled the proportion of money lenders need to keep in reserve to [...]
UK enters minerals race with new data centre July 5, 2022 The UK has waded into the supply scramble for critical minerals, with the launch of a new centre for analysis and research.
Fresh poll puts Channel 4 at bottom of Tory voters’ wish list July 5, 2022 New polls show that Channel 4 privatisation has the least support out of ten Tory policies that the government want to deliver between now and the next election. According to polling from WPI Strategy, privatisation of the broadcaster as the least support from those who voted Conservative back in 2019.Just 16 per cent of voters [...]
Exclusive: ‘Government must give clarity on Venture Capital Trusts’ or risk jeopardising start-up growth, says industry chief July 5, 2022 The government risks jeopardising funding for early-stage UK startups if it fails to provide clarity on the future of the venture capital trust (VCT) regime, an industry chief has warned today.
Germany registers first trade deficit since 1991 on surging energy prices July 5, 2022 Surging European energy prices caused by Russia’s invasion of Ukraine has left Germany with its first trade deficit in over three decades, official figures released today revealed. German imports outstripped exports for the first time since 1991, generating a €1bn (£862m) trade deficit in May, according to the country’s statistics agency. Exports dropped 0.5 per [...]
Global Britain spreads its Brexit wings as UK retailers plan to expand overseas with EU and Australia favourites July 5, 2022 A range of British retail giants is eyeing to expand internationally as they are seeking to spread their wings amid a bounce-back in activity following the pandemic. Experts at real estate advisory firm Colliers said demand for UK locations from international firms has also lifted higher as shopper demand remains resilient despite fears over cost-of-living [...]
EU most powerful EV charging hub opens in Oxford July 5, 2022 Europe’s most powerful electric vehicle (EV) charging hub opens in Oxford. The £41m project will initially provide ultra-fast charging for 42 electric cars, reaching up to 400 cars when at full capacity. Transport minister Trudy Harrison said: “Electric vehicles form a key part of our strategy to decarbonise transport, so I’m pleased to see Europe’s [...]
Online platforms could have ‘legal obligation’ to fight state disinformation as part of amendment to Online Safety Bill July 4, 2022 Online platforms now have the legal obligation to take “proactive, preventative action” against any state-sponsored disinformation, under a new government amendment. The change will link the National Security Bill and the Online Safety Bill by adding a new Foreign Interference Offence to the list of priority offences within the new internet safety rules. “We cannot [...]
After EU passes crypto rules, lawyers ask whether the UK will follow suit July 4, 2022 The EU’s landmark Markets in Crypto-Assets (MiCA) regulation, decided last week, will be the world’s first regulatory framework for crypto and could serve as a “benchmark” for the UK’s own legislation, according to legal experts. The MiCA regulation, which will come into force at the end of 2023, will apply to crypto-asset issuers and service [...]