Ex-Barclays boss: New tech and social media have power to ‘turbocharge’ bank runs May 4, 2023 New technologies and social media have the power to “turbocharge” bank runs, former Barclays boss Antony Jenkins has said, commenting on the collapse of Silicon Valley Bank (SVB). Speaking to City A.M., Jenkins said “technology is a wonderful thing” that has drastically improved the experience for financial services customers in many different ways. But while [...]
Over a million commuters to be hit by Sadiq Khan’s ULEZ expansion, London Tories claim May 3, 2023 More than a million people that commute into London could be hit by Sadiq Khan’s expansion of the City’s ultra low emission zone (ULEZ), City Hall Conservatives have argued. Under the expansion, motorists with petrol and diesel cars that don’t meet emissions standards will face a £12.50 daily charge or a £180 fine for each [...]
Musk relaunches Tesla flagship model at lower price as supply chain backlog lifts May 3, 2023 Tesla Inc has resumed taking orders for its Model 3 long-range version in the United States, the company’s website showed late on Tuesday, after a temporary halt last year due to delivery backlogs. The long-range version of the entry-level Model 3 is priced at $47,240 currently, about 18.5% less than the $57,990 it was priced at [...]
Berkeley Homes to sue Michael Gove for ‘irrational’ decision to block Kent housing development, reports May 2, 2023 Berkeley Homes, one of the UK’s biggest housebuilders, has taken Michael Gove to court over his decision to block one of its developments because he did not like the look of the homes. The housing secretary overruled planning inspectors and refused permission for a 165-home development in Kent over claims about generic properties, according to [...]
Mayoral Elections 2024: Who is in the frame to run against Sadiq Khan? May 2, 2023 London Conservatives are set to agree a candidate by the end of July to face off against Sadiq Khan in next year’s mayoral elections, it has emerged. Tory chiefs met earlier this week and agreed to fast-track the process, as campaigning begins to ramp up ahead of the City Hall vote to be held in [...]
Musk: Media publishers can start charging for one-off articles shared on Twitter May 1, 2023 Twitter will roll out a new feature allowing media publishers to charge users on a per-article basis, the company’s chief executive Elon Musk said on Saturday. Musk said this would allow users who did not want to sign up for monthly subscriptions to pay a higher per article price to read one article. In a [...]
Half of Londoners think Sadiq Khan doing ‘badly’, new poll finds April 27, 2023 Half of Londoners say they think Sadiq Khan is doing “badly” at City Hall, polling has found. Exactly 50 per cent rated him as doing “badly” while almost a third (32 per cent) – think the mayor is doing “very badly”, pollsters at YouGov said. Over a third of Londoners – 35 per cent – [...]
Bank of England interest rate hikes would squeeze Jeremy Hunt’s room for tax cuts by £8bn, City economist claims April 26, 2023 The Bank of England could squeeze Chancellor Jeremy Hunt’s room to cut taxes in the run up to the next general election if it keeps hiking interest rates to tame inflation, a City economist has calculated. Officials at Threadneedle Street would swell Britain’s debt interest bill by around £8bn if they send borrowing costs to [...]
Is the CBI is “finished”? City grandee and AJ Bell chair Baroness Morrissey says so April 25, 2023 The crisis-hit CBI is “finished” after the organisation admitted it failed to sack workers who sexually harassed female colleagues, City boss Baroness Helena Morrissey has said. Firms have deserted the Confederation of British Industry (CBI) in their droves after two rape allegations and a series of claims of a toxic work culture surfaced, reported by [...]
Mark Carney’s climate alliance expands as 23 venture capital funds join net zero group April 25, 2023 Mark Carney’s global alliance of financial firms fighting climate change expanded into the venture capital sector today with the launch of the Venture Climate Alliance (VCA). Consisting of 23 venture capital (VC) firms across the U.S. and Europe, VCA members have committed to supporting a rapid, global transition to net zero or negative carbon emissions [...]