Labour’s plan to wind down oil and gas extraction is ‘naive’ and risks ‘cliff edge’ for production, union chief warns Energy row Labour’s energy plans have been branded “naive” amid warnings the party risks creating a “cliff edge” for production, a union chief has warned. GMB general secretary Gary Smith said Labour’s policies “are going to create a cliff edge with oil and gas extraction from the North Sea”. Speaking on Sky News’ Sophy Ridge on Sunday [...]
Barclays, Lloyds, Halifax and Bank of Scotland to shut 63 more branches – including in London Branch closures Two of the country’s biggest banking giants have announced they are slashing another 63 branches, taking away services from local communities around the UK. Barclays and Lloyds Banking Group between them announced a series of closures which are due to take place later this year or early next year. Barclays said on Friday it was [...]
HSBC leads banks’ plans to hike savings rates – and analysts say they could go up even further Savings rates HSBC UK is boosting the interest rates on some savings accounts with increases of up to 0.75 percentage points, the bank has announced. The increases will come into effect next week, on Thursday June 8. They include a 0.75 percentage point increase on the bank’s mysavings and premier savings youth accounts, taking rates to 5.00 [...]
Sunak ‘putting tackling legal migration top of the agenda’ at European summit June 1, 2023 Rishi Sunak is seeking to put “tackling illegal migration top of the international agenda” at a gathering of European leaders in Moldova. The Prime Minister is stressing the need for collaboration on the “global issue” at a meeting of the European Political Community. While there, he is expected to announce the start of negotiations on [...]
Ex-JP Morgan executive wrote Epstein ‘should not be a client’ in 2011 email June 1, 2023 A former JP Morgan Chase executive wrote in a 2011 email that the late financier and sex offender Jeffrey Epstein should not be a client of the bank, according to a transcript of a deposition of chief executive Jamie Dimon seen by Reuters. Dimon said in the deposition he was not aware of the email at [...]
FTSE reshuffle: British Land booted off premier index while Ocado dodges demotion June 1, 2023 Online grocer Ocado has dodged relegation from London’s FTSE 100 while property firm British Land lost its coveted spot among the blue-chip stocks. Fashion retailer Asos also faced demotion from the FTSE 250 ranks, according to the annual review by data firm FTSE Russell. Ocado was expected to drop off the UK’s top index after [...]
Mining giant BHP admits underpaying workers for 13 years in leave error June 1, 2023 London-listed mining giant BHP has admitted it underpaid nearly 30,000 workers across Australia after miscalculating public holiday leave for 13 years. The Australian group, which is listed in Sydney and London, said it it was facing a hit of up to $280m (£225.5m) for the error, which dates back to 2010. It said about 28,500 [...]
LME launches consultations to restore confidence after nickel crisis May 31, 2023 The London Metal Exchange launched two consultations on Wednesday on possible reforms in the wake of last year's nickel crisis.
Purplebricks bidder Lecram pulls out, claiming finances ‘worse than expected’ May 31, 2023 An 11th-hour rival bidder for Purplebricks has withdrawn its takeover approach, claiming the troubled estate agency’s financial condition is “significantly worse than expected”. It emerged last Friday that investor Lecram – the vehicle of property investor Adam Smith and a major shareholder in Purplebricks – was looking to muscle in with a proposal valuing the [...]
Labour: Just Stop Oil backer Dale Vince ‘perfectly legitimate’ party donor May 31, 2023 British businessman Dale Vince is a “perfectly legitimate person” to take money from despite his donations to Just Stop Oil.
