Elon Musk offloads another £2.9bn of Tesla shares sparking investors’ fury December 15, 2022 Elon Musk has offloaded a further $3.6bn (£2.9bn) worth of Tesla shares, sparking the fury of several investors. The serial entrepreneur announced late last night he relinquished 22 million of the EV giant’s shares between Monday and Wednesday. The $3.6bn sale is the second time Musk has sold part of his stake in the company [...]
Hunt defends new electricity generator levy in Downing Street showdown December 15, 2022 Chancellor Jeremy Hunt defended the introduction of a new tax on legacy electricity generators at a Downing Street roundtable this week.
EXCL – UK investors abandon Sunak and Hunt as only one in four have faith in Tory economic policy December 15, 2022 Just over one in four UK investors have faith in Tory economic policy, with the majority concerned about slowing economic growth, according to new research shared exclusively with City A.M. today. In fact, less than a third believe Jeremy Hunt is the right person to be chancellor. Just 27 per cent have confidence in the [...]
Twitter continues to leak advertisers after Musk jibe at Covid rules boss Fauci December 13, 2022 Twitter is facing an exodus of advertisers after Elon Musk tweeted a call to prosecute the US medical chief over pandemic restrictions – in his latest controversial move since buying the social media giant. The social media site is staring down an estimated loss of UK advertising revenue around £10m, and it could deepen if [...]
Sir Richard Branson: No new investment in Brexit Britain December 13, 2022 Sir Richard Branson has ruled out investing new cash in the UK for the foreseeable future, claiming the economy has been hamstrung by trade barriers and “red tape” brought on by Brexit.
Bank of England calls for tighter rules on LDI market after mini-budget chaos December 13, 2022 Tighter oversight of the pensions industry is needed to ensure it can “withstand severe but plausible market moves” similar in size to those seen in the aftermath of Liz Truss’s disastrous mini-budget in September, the Bank of England said today. The recommendation from the Bank’s financial policy committee (FPC) has been sparked by concerns over [...]
Twitter gaffe: Musk’s site labels Norway, its PM and foreign minister as ‘Nigerian’ December 13, 2022 Twitter was mocked by Norway this morning after its new verification system told users the country was actually Nigeria. Continuing its streak of mishaps, the social media site labelled Norway’s foreign ministry as a “Nigeria government organization”, while Norway’s Prime Minister Jonas Store and Foreign Minister Anniken Huitfeldt were also mischaracterised. This comes after Elon [...]
Twitter to relaunch revamped subscription service with higher cost for iPhone users December 11, 2022 Twitter is to relaunch a refreshed version of its subscription service tomorrow, with a higher price tag for iPhone users. Users can subscribe to the service in order to be able to edit tweets, upload higher quality videos and get a blue checkmark. It comes at a price of $8 per month through the web [...]
Tributes flow in after death of former minister Lord Young aged 90 December 10, 2022 Social media tributes have flown in following the death of former businessman and Conservative cabinet minister Lord Young of Graffham aged 90. Lord Young – who served twice as secretary of state during the 1980s – was considered one of Margaret Thatcher’s right-hand men. He became secretary of state for employment in 1985 while two [...]
Big Bang 2.0: Financial institutions welcome Jeremy Hunt’s Edinburgh reforms December 10, 2022 Leading financial institutions have welcomed Chancellor Jeremy Hunt’s Edinburgh reforms, which set out to “turbocharge” the UK’s growth. Announced yesterday, the plans aim to “seize the benefits of Brexit” by delivering the biggest shake-up in the financial sector for 30 years. According to UK Finance’s chief executive David Postings, the package is “a major step [...]