London City launches 10-week consultation to increase passenger capacity June 30, 2022 London City airport launched today a 10-week consultation over its existing planning permission to increase passenger capacity to 9 million by 2031. Following the end of travel restrictions, the east London hub has forecast that 3 million passengers will pass through its gates this year, with numbers set to increase to pre-pandemic levels – 5 [...]
Lights Out: Bulb boss finally exits lucrative role months after supplier entered administration June 30, 2022 Hayden Wood finally announced plans to step down from his lucrative role as chief executive of collapsed supplier Bulb Energy at the end of July.
Blair urges Labour to adopt his institute’s policy agenda June 30, 2022 Sir Tony Blair has today urged the Labour party to adopt his institute’s policy agenda for the next General Election in order to defeat the Tories. Blair said “one of the reasons” he was holding the inaugural Future of Britain conference, hosted by the Tony Blair Institute for Global Change, just a couple years out [...]
FATF tells countries to quickly implement its Travel Rule to detect suspicious crypto activity June 30, 2022 The Financial Action Task Force told countries to speed up with implementing its Travel Rule for crypto, a key requirement to comply with sanctions obligations and to detect suspicious transactions. The global watchdog found that most jurisdictions have not applied its anti-money laundering and counter-terrorist financing standards to virtual assets and virtual asset service providers. [...]
‘Principle driven’ approach is slowing down regulators, Revolut boss says June 30, 2022 The boss of fintech giant Revolut said UK regulators were bogged down by a “principle driven” approach today as he called for a stricter “rules-based” model to be adopted by watchdogs. Speaking at the CityUK summit today, Nikolay Storonsky said the firm had chosen to set up shop in the UK in 2015 due to [...]
Bitcoin falls below $20,000 as it moves towards biggest quarterly drop since 2011 June 30, 2022 Bitcoin plunged below $20,000 today as it hurtles towards its biggest quarterly drop in more than a decade. The world’s biggest cryptocurrency plummeted 4.35% to about $19,160 and is down 58% in the second quarter of 2022. It tumbled around 68% in the third quarter of 2011 during its very early stages when its price [...]
Staffing agencies slam govt’s plans to use agency staff as strikebreakers June 30, 2022 Staffing agencies have hit out at the government’s plans to lift a ban on using agency staff as strike breakers. In a letter to the government seen by City A.M., a group of the world’s biggest staffing agencies slammed the plans, put forward by business secretary Kwasi Kwarteng, to overturn laws banning agency staff from [...]
Government hosts roundtables with industry leaders as it pushes for carbon capture expansion June 30, 2022 Kwasi Kwarteng hosted a roundtable with industry leaders and investment groups today amid a Government push for carbon capture technology.
Landmark day: Essex ‘scale-up’ unveils first hydrogen HGV to be mass-produced in UK June 30, 2022 Essex-based “scale-up” Tevva made automotive history today when it unveiled the first hydrogen HGV mass-produced in the UK. Fitted with a hydrogen-fuel cell system in addition to its electric battery, the 7.5-tonne lorry is able to carry heavy loads over long distances, driving as far as 310 miles. “By embracing hydrogen, we are futureproofing ourselves, [...]
British staycations under threat as hotels ‘turning away guests’ due to staff shortages, BCC boss warns June 30, 2022 The British staycation is under threat as hospitality firms struggle with staff shortages this summer, the director general of the British Chambers of Commerce (BCC) warned yesterday. Shevaun Haviland said the country was “already seeing a drag on economic growth due to the lack of people in our labour market.” Hotels had been “turning guests [...]