UK debt interest payments show the desperate need for economic growth August 18, 2022 Towards the end of the Johnson administration, which still staggers along in zombie-like fashion, it became fashionable to say that the problem was it never really stood for anything. This is true: even now with a degree of distance, Johnsonism remains something of a mystery beyond its defining principle that Boris remain very much in [...]
Norway sovereign fund loses more than $150bn thanks to tech rout August 17, 2022 Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which [...]
Russia has 38 per cent jump in energy export earnings this year: internal document August 17, 2022 Reuters Higher oil export volumes, coupled with rising gas prices, will boost Russia’s earnings from energy exports to $337.5 billion this year, a 38% rise on 2021, according to an economy ministry document seen by Reuters. The jump in revenues, if it materialises, will help shore up Russia’s economy in the face of waves of [...]
Pubs feel pinch of energy and supply chain inflation August 17, 2022 HOSPITALITY businesses renewed calls yesterday for an emergency VAT cut as the sector deals with rampant energy hikes. New research released yesterday suggested that most bars and restaurants are dealing with “significant” energy cost hikes whilst a majority are also seeing dramatic hikes in their food and drink costs. The new data, compiled by consultancy [...]
Pubs are vital parts of our community: they urgently need a tax cut August 16, 2022 If the pandemic taught us one thing, it’s that the City is far more than traders, brokers and bankers. It’s the teams who packed up a host of high-end kit on a Friday and parked it in front rooms in the Home Counties in time for Monday’s open; the insurers and the compliance bods who [...]
Leadership contest doing little to inspire confidence in any plan for growth August 14, 2022 If Queen of Pop Madonna was living in a material world, it is hard to shake the feeling that our prospective Kings or Queens of Westminster are living in something of a fantasy world. After almost a month of this interminable Tory leadership contest, which every day seems to somehow inspire less confidence, we are [...]
Sotheby’s launches bumper auction of Bond memorabilia as Dr. No turns sixty August 14, 2022 AUCTION house Sotheby’s is set to mark sixty years of James Bond on screen with a collection of over 100 pieces of sought-after memorabilia. The ‘Bond on Bond Street’ collection includes a replica of Scaramanga’s pistol from The Man with the Golden Gun as well as a series of so-called transparencies, high-resolution movie images used [...]
Ach Nein! Rhine water level threatens to leave European shipping high and dry August 14, 2022 AMIDST the doom and gloom of recent headlines, there have been some early signs of optimism that the worst of the globe’s supply chain crisis could be passing. A major benchmark of the time taken for a good to get from the factory to its destination port – the Flexport Ocean Timeliness Indicator – has [...]
Yet another ‘housing policy’ designed mainly to frustrate housebuilding July 28, 2022 Pictured in an olive, recently waxed Barbour jacket in front of rolling green hills, Rishi Sunak looked every bit the country gentleman in pictures posted to his social media accounts yesterday. The reason? A commitment to protect the green belt. “We’ve seen too many examples of local councils circumventing the views of residents by taking [...]
Energy bosses must be wise to the coming tide of public anger July 28, 2022 ONE OF a City chief exec’s key jobs is horizon scanning. For those in the energy sector, should they be finding their forecasting glasses a little fogged up, we’ll help: you’re about to become the least popular companies in Britain. It is hard to over-egg how painful energy bills could become this winter, with predictions [...]
