All of the London mayoral election candidates we deserve, but won’t get May 24, 2023 As candidates to be the new Mayor of London pile in, I have some non-political suggestions to make. They include Stormzy and Adele among others who deeply care about our capital, writes Michael Martins
Windfall taxes, like speeding fines, can’t be a plaster solution for losing tax revenue May 24, 2023 Speeding fines are effectively becoming a tax for councils, a way to raise revenues. But it's a short-term fix for a long-term problem exactly like windfall taxes, writes Paul Ormerod
Gaucho owner posts record-breaking results ahead of new Covent Garden opening May 23, 2023 The business behind leading Argentinian Steak Restaurant Gaucho has posted “record-breaking” earnings for the year as the group shrugged off inflationary pressures and strike action that disrupted business during the year. Rare Restaurants, which also owns the M and Crane Tap restaurants, posted turnover of £73.5m for the year, up 38 per cent from 2022, [...]
Boeing boss warns sustainable aviation fuels will ‘never achieve the price of jet fuel’ May 23, 2023 Boeing’s boss David Calhoun has warned that new sustainable biofuels will “never achieve the price of jet fuel,” downplaying widespread hopes for the technology in the sector. According to reports in the Financial Times today, Calhoun said he believes sustainable aviation fuels (SAF) have the potential to become more economical. However, he also said: “I [...]
TRG: Nearly half of shareholders vote against chief’s hefty pay as tension with investors grows May 23, 2023 Shareholders dealt a major blow to The Restaurant Group (TRG) chief Andy Hornby today after large numbers voted against bosses latest pay packets. Hornby was stung by shareholders in the Wagamama’s owner after 46 per cent voted against the company’s pay report for last year at the firm’s annual general meeting in London. Hornsby received [...]
South West Water facing Ofwat probe into leakage data accuracy May 23, 2023 The water watchdog is set to probe the accuracy of leakage data from one of England’s biggest providers. Ofwat will investigate South West Water (SWW) over the accuracy of its information on water consumption and leakages, in the wake of an apology from firms over sewage issues. Owned by the FTSE 100 listed Pennon Group, [...]
FTSE 100 close: Stress over US debt ceiling talks drag London index as IMF ditches UK recession forecast May 23, 2023 London’s FTSE 100 nipped lower today as investors zeroed in on the latest developments in talks between Republicans and Democrats about raising the debt ceiling. The capital’s premier index slipped 0.1 per cent to 7,762.96 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]
Drax looks to expand in the US as it takes advantage of Inflation Reduction Act May 23, 2023 Drax is looking to expand its operations in North America as it looks to take full advantage of the benefits on offer under the Inflation Reduction Act.
Bank of England governor Andrew Bailey and chief wonk Huw Pill admit they botched inflation forecasts May 23, 2023 Top officials at the Bank of England today admitted they have undershot the strength of inflation, with governor Andrew Bailey confessing the central bank has some “very big” lessons to learn over how it sets interest rates. MPs on the influential treasury select committee slammed members of the monetary policy committee (MPC) for failing to [...]
Leg up for UK listings as Labour backs £50bn pension ‘growth fund’ May 23, 2023 A Labour government would push pension funds to pump cash into UK start-ups and growth firms as part of plans to boost the City and keep homegrown firms in Britain, Rachel Reeves has said. Speaking in New York today, the shadow chancellor said her party aimed to rocket-launch investment in the UK by accelerating consolidation [...]
