Think-tank: Kwarteng budget “less out of control than the market thinks” September 30, 2022 ONE of the country’s leading economic think-tanks has described estimates that Kwasi Kwarteng’s package of tax cuts in last week’s mini budget could cost £45bn as a “gross exaggeration.” The package has gone down badly with both markets and politicians, with the cost of UK borrowing spiking due to concerns over runaway government spending. However [...]
Letters: All eyes on the high streets September 30, 2022 [Re: Kwasi Kwarteng’s mini-budget, September 23] Retailers and the hospitality sector will be wondering whether the chancellor’s creation of more than 40 new “investment zones” in England does anything more than scratch the surface to revitalise the high street. The “factsheet” issued by the government confirms the zones will apparently be allowed to relax planning [...]
Under the hammer: Why Dalmore is doubling down on limited edition whisky September 30, 2022 Historic Scotch distillery The Dalmore is set to double down on a growing reputation for luxury single malts in a growing sign of the industry’s growth as an asset class. The Dalmore will send one of three rare 48 year old whiskies to auction at Sotheby’s, with the golden liquid housed in a sculpture conceived [...]
‘Safe home’ app gets support as cost of living puts night-owls off taxis and Ubers September 30, 2022 The cost of living is set to increase the number of women walking home from a night out rather than getting a taxi or a minicab home, according to new research. A fifth of women told pollsters that they were walking more and taking few taxis at the end of a night out. The safety [...]
Burberry creative chief Tisci steps down as Brit Daniel Lee takes over September 28, 2022 The creative brain behind iconic British fashion brand Burberry is set to step down from his role at the end of this month after five years at the helm, the firm announced today.
Former City minister: Scrapping bonus cap could have waited ‘a little longer’ September 27, 2022 John Glen, the former City minister, has said the decision to scrap the bankers’ bonus cap should have waited amid a cost of living crisis. Glen told the Following the Rules podcast that the removal of the cap, announced last week by new Chancellor Kwasi Kwarteng, “was something that I would have deferred for a [...]
Domino’s appoints former Burger King executive as interim chief September 27, 2022 Domino’s has announced today that Elias Diaz Sese will take over as interim chief of the firm in October as it hunts for a permanent replacement for outgoing boss Dominic Paul.
Avanti asks ministers for relief with train service performance targets September 25, 2022 London to Manchester train operator Avanti has begged ministers to relieve it from performance target deadlines, after struggling with driver shortages. The ailing operator has asked the Department for Transport to greenlight a “force majeure” declaration on its West Coast line, according to The Sunday Times. This would mean Avanti would not have to hit [...]
Outgoing TfL chief: No Khan split and Elizabeth Line a career highlight September 22, 2022 LONDON’S transport chief has moved to silence talk of a split with Mayor Sadiq Khan after he announced his departure from the top job. Conservative London Assembly transport spokesman Nick Rogers said the departure was a sign that Khan’s Mayoralty was “in chaos.” But Byford told City A.M. that Khan had been “extremely supportive” throughout [...]
Citigroup to wind down UK retail bank under renewed strategic vision September 22, 2022 Citigroup has said it intends to wind down its retail bank in the UK, as its chief executive pursues a more streamlined strategy. The bank has said it would like to bolster its offer to services for affluent clients, and has asked some retail clients to turn to its private bank. As this division in [...]
