Environment Agency: Water firms fined TOO MUCH for sewage leaks March 15, 2023 The Environment Agency (EA) should not be issuing penalties of £250m to water companies which dump sewage, its chairman has said.
First floating offshore wind farm approved off Welsh coast March 13, 2023 Consent for a floating offshore wind farm has been granted off the Pembrokeshire coast, the Welsh government has announced.
‘Down to the wire’: Treasury and Bank scramble for Silicon Valley Bank UK package March 12, 2023 Treasury and Bank of England officials are locked in discussions over the future of Silicon Valley Bank’s (SVB) UK arm – with leading tech figures across London suggesting the bank’s collapse could be an extinction-level event for thousands of firms. The UK-owned subsidiary of Silicon Valley Bank was placed into insolvency earlier this evening, with [...]
Saudi Aramco unveils record profits of £133.9bn after oil price surge March 12, 2023 Saudi Arabian oil giant Aramco reported a record annual profit of £133.7bn ($161.1bn) for 2022 - powered by higher energy prices.
Aldi to lift restrictions on fresh produce as shortages ease March 11, 2023 Aldi said it will remove all customer limits on buying fresh produce as supply issues which led to widespread shortages begin to ease. The supermarket joins Lidl and Asda in lifting restrictions. Aldi said in a statement on Saturday: “From Monday (March 13), Aldi will remove all purchasing restrictions on fresh produce – including limits [...]
Collapse of Silicon Valley Bank UK ‘could have big impact on tech start-ups’ March 11, 2023 The collapse of Silicon Valley Bank UK (SVBUK) could have a significant impact on tech start-ups, it has been warned. The Coalition for a Digital Economy (Coadec), a non-profit campaigning for policies to support digital start-ups, responded to the overnight announcement from the Bank of England that it would apply to put SVBUK into a [...]
Chancellor Hunt says he can’t rush into tax cuts before economy gets back to growth March 11, 2023 British finance minister Jeremy Hunt said he wanted to lower tax rates for individuals and especially businesses in the longer term but warned it would take time because the economy needed to grow more quickly first. Hunt, who is due to present his budget on Wednesday, said in an interview broadcast on Saturday that lower tax [...]
Silicon Valley Bank’s demise began with downgrade threat March 11, 2023 In the middle of last week, Moody’s Investors Service delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular collapse of the startup-focused lender, the biggest bank [...]
Health Secretary invites junior doctors for pay talks ahead of 72-hour strike March 11, 2023 The Health Secretary has invited junior doctors for pay talks in an attempt to avert next week’s three-day strike amid a bitter dispute over pay. Steve Barclay said he had proposed negotiations “on the same basis other health unions accepted”, after planned industrial action by tens of thousands of key workers was suspended when the [...]
Silicon Valley Bank UK says it will be put into insolvency this weekend March 11, 2023 Silicon Valley Bank UK has said it will be put into insolvency from Sunday evening. The announcement came after Silicon Valley Bank (SVP) was put under US government control on Friday afternoon, the biggest failure of a US bank since the 2008 financial crisis. The Bank of England said it would apply to place SVPUK [...]