FTSE Reshuffle: Abrdn head for trap-door from the FTSE 100 August 29, 2022 FUND MANAGER Abrdn is set to exit the FTSE 100 this week as part of a wider FTSE reshuffle. Shares in the asset manager have fallen just shy of 40 per cent since the turn of the year, with analysts blaming global uncertainty and economic troubles. “Huge geopolitical uncertainty, sky high inflation and worries about [...]
Truss tax cuts: Wonk warning on hit to public finances August 29, 2022 LIZ TRUSS’ planned tax cuts would “completely crash the public finances,” warned the boss of one of the UK’s foremost economic think-tanks, the Institute of Fiscal Studies. Prospective new Prime Minister Liz Truss is expected to announce an emergency budget early on in her administration if she, as expected, is made leader of the Tory [...]
Zaporizhzhya nuclear plant: UN team moves in as shelling nearby risks leaks August 29, 2022 A TEAM from the United Nations’ nuclear watchdog touched down in Ukraine yesterday amid ongoing concern that Europe’s largest nuclear power plant in Zaporizhzhya is becoming a hotspot for conflict. The Zaporizhzhya plant sits on the Dnipro River and has been under Russian control since March, though remains staffed by Ukrainians. Shelling in the vicinity [...]
Purplebricks’ top brass spend £1m on shares in a bid to boost shareholder confidence August 29, 2022 The top brass of struggling online estate agent Purplebricks have spent nearly £1m of their own money on company shares. Helena Marston, the new chief executive, and Paul Pindar, the executive chairman, both recently spent £100,000 and £851,000 on shares respectively, The Times reported. Pindar now owns a 5.4 per cent stake in the company. [...]
Carbon dioxide shortage: No taxpayer bailout forthcoming this time August 25, 2022 THERE will be no repeat of a taxpayer-backed financial package to tackle the country’s coming carbon dioxide shortage, City A.M. understands. Ammonia producer CF Fertilisers yesterday announced it would be halting production of the fertiliser at its Teesside plant due to too-high energy costs. Carbon dioxide is produced as a by-product of that process and [...]
Citi to wind up Russia operations as Wall Street giant fails to find a buyer August 25, 2022 Reuters Wall Street giant Citi will close its consumer and commercial banking businesses in Russia starting this quarter and expects to incur about $170 million in charges over the next 18 months as a result, the company said on Thursday. The U.S. bank with the largest presence in Russia announced plans in April 2021 to [...]
Rishi Sunak: UK shouldn’t have ’empowered scientists’ at start of lockdown August 25, 2022 RISHI Sunak has said government “shouldn’t have empowered the scientists in the way we did” at the start of the Covid-19 pandemic. The former Chancellor told The Spectator magazine that there was a failure to “acknowledge trade-offs from the beginning” and that lockdown’s impacts on other health services, as well as schools and the economy, [...]
Supply and demand continue to wreak havoc on London rents, says Foxtons August 24, 2022 Supply and demand constraints have continued to wreak havoc on London rental costs, according to the latest data. Central London produced the highest average weekly rent in the year to date at £627, a rise of more than a third in comparison with last year, research by Foxtons, one of the largest real estate agencies [...]
Thousands more homeowners to be refunded after ground rents doubled August 24, 2022 Press Association Thousands more homeowners who paid a doubled ground rent on their property will receive a refund after the competition watchdog cracked down on “unfair” leasehold practices. More than 5,000 households in the UK will be compensated after being caught in contracts that saw their ground rents double in price every 10 years. Many [...]
Thames Water to probe data centres’ water usage August 23, 2022 Thames Water has said it is investigating the impact of data centres on the water supply in the London area. “We know there is increased demand for data centres and we have started a targeted exercise to understand how much water is used by them,” John Hernon, Thames Water Strategic Development Manager, said in a [...]
