Starmer hits out at PM over speculation he will cut bankers’ bonus cap June 22, 2022 Sir Keir Starmer has accused Boris Johnson of “rolling over” and making plans to cut the cap on bankers’ bonuses, after reports suggesting the move is being considered in Number 10. Starmer said in Prime Minister’s Questions (PMQs) that Johnson’s “new approach” is “pay rises for bankers, pay cuts for district nurses”. Number 10 yesterday [...]
Supply chain issues will last throughout 2023 according to Boeing June 22, 2022 Supply chain issues will last throughout 2023, according to Boeing’s chief executive David Calhoun. The plane manufacturer said woes were exacerbated by a faster-than-expected return of demand. “The shift from demand to now supply issues … is remarkable, the speed with which it happened,” the chief executive said during Bloomberg’s Qatar Economic Forum today. “It’s [...]
Equinor pushes for UK funding to build 1.2GW hydrogen plant June 22, 2022 Equinor has submitted a funding bid to construct a second major low-carbon hydrogen production facility in the Humber region.
Sam Bankman-Fried offers money to affected crypto platforms amidst downturn June 22, 2022 FTX CEO Sam Bankman-Fried is helping out crypto companies hit by the crash with monetary aid. FTX, one of the world’s biggest crypto exchanges, signed a $250m (£204m) revolving line of credit to crypto lending platform BlockFi, both companies announced on Tuesday. “We take our duty seriously to protect the digital asset ecosystem and its [...]
City watchdog vows to pursue retrial in collapsed insider trading case June 22, 2022 The UK’s financial watchdog has said it will seek a retrial against two men accused of insider trading, after a jury was unable to reach a verdict last month. The UK’s Financial Conduct Authority (FCA) said it will pursue a retrial against plastics company exec Stuart Bayes and his friend Jonathan Swann. The FCA accused [...]
Sunak: BoE will ‘act forcefully’ on inflation and govt will ‘be responsible with borrowing and debt’ June 22, 2022 Rishi Sunak sought to reassure people following a 40-year high in UK inflation to 9.1 per cent, insisting the Bank of England will “act forcefully” to counter the rise. The BoE, which is independent of government, has been criticised for not being quick and decisive enough about rising costs of living, with members of the [...]
Raab: Pensioners need double-digit increase in payments, but striking rail workers don’t June 22, 2022 Dominic Raab has defended the government’s decision to hand out an inflation-linked increase in state pensions next year, while it rallies against similar wage rises for striking rail workers. The justice secretary said old age pensioners were in a “different position” to rail workers, because they were “disproportionately affected by the increase in energy costs [...]
Developing old industrial land to unlock over £460bn worth of new housing, research finds June 22, 2022 Developing brownfield sites, industrial land which is now empty, could unlock more than £460bn worth of new housing, according to new research. The government is already looking to develop these spaces, as part of its Levelling Up scheme, which will form part of its pledge to build 300,000 new homes each year to keep up [...]
UK watchdog fines London insurer JLT Speciality Ltd £7.9m for involvement in bribery scandal June 22, 2022 The UK’s financial watchdog has fined London insurance broker JLT Specialty Ltd (JLTSL) £7.9m over its involvement in a multi-million-dollar bribery scandal. The Financial Conduct Authority (FCA) hit the London broker with a £7.9m fine for failing to prevent financial crime, after an “introducer” working for the firm in Panama paid $3m in bribes to [...]
World’s first EV ‘dark hub’ opens in Leicester Square to help delivery industry go green June 22, 2022 The world’s first “dark hub” for small electric vehicles (EVs) has opened today in London to help the delivery industry reduce its carbon footprint. Launched as a partnership between technology company Port and parking operator Q-Park, the Leicester Square hub will allow delivery firms to rent electric vehicles – including e-bikes, mopeds and scooters – [...]