Chancellor to discuss food prices with CMA May 23, 2023 Today the Chancellor Jeremy Hunt will meet with food manufacturers to discuss the cost of food and explore ways to ease pressure on households. The government says Hunt will raise concerns about high prices of food in the UK and discuss measures the government and industry could put in place to help households. Hunt said: [...]
Heathrow: ‘Doomed’ third runway plans under attack from London politicians May 23, 2023 Heathrow Airport’s plans to reduce the impact of noise are “not ambitious enough,” the London Assembly said this morning, in a letter urging the airport to provide more clarity on the current status of its third runway expansion. The letter, addressed to Heathrow boss John Holland Kaye, said that the “lack of clarity” over the [...]
City businessman on the run after being convicted of fraud in £70m forex scam May 22, 2023 A businessman who ran a ponzi-style investment scam worth in excess of £70m was found guilty today following a seven week trial.
History shows AI will create more jobs than it destroys, Deutsche Bank analysts argue May 22, 2023 Analysts at Deutsche Bank have become the latest experts to argue that AI will create more jobs than it destroys. In a note examining the history of technological advancement, Deutsche Bank’s Henry Allen and Jim Reid investigate the historical response to technological breakthroughs. Looking at long-term unemployment data, the analysts point out that changes in [...]
US could default in just a couple weeks unless debt ceiling is raised, Goldman Sachs warns May 22, 2023 The US could run out of cash to pay its lenders as soon as 8 June unless policymakers agree to lift the debt ceiling, top Wall Street economists have estimated. It is expected that the emergency measures the US Treasury has been leaning on to meet its short-term debt obligations could run dry in just [...]
Atome Energy shares leap after Baker Hughes snaps up stake May 22, 2023 Atome Energy’s share price jumped over 10 per cent this morning after US oil services company Baker Hughes snapped up a 6.6 per cent stake
FTSE 100 close: NatWest lifts after government stake sale as Burberry and JD Sports bump London index May 22, 2023 London’s FTSE 100 started what will be a quiet week in decent style today, driven higher by investors piling into Britain’s largest retailers. The capital’s premier index jumped 0.21 per cent to 7,773.49 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged lower to [...]
JP Morgan expects $3bn income boost from acquisition of First Republic May 22, 2023 JP Morgan predicts a $3bn boost to its interest income as a result of its acquisition of First Republic, revealing how the Wall Street giant benefitted from the regional banking crisis. According to a presentation made at its investor day, the US’s largest bank said it expects its net interest income to increase to $84bn, [...]
Train passengers could lose free wifi amid cost cuts May 22, 2023 Train passengers face losing access to free wifi under cost-saving measures. The Department for Transport (DfT), which controls the finances of most operators in England, has said it is reviewing whether the service “delivers the best possible value for money”. Most train services on Britain’s railways offer free wifi, enabling people to connect their electronic devices to the [...]
London Heathrow: Passengers will face ‘no cancellations’ during half term strikes May 22, 2023 London Heathrow airport has assured passengers not to worry about upcoming half-term strike action by security officers, stating that “no flights” will be cancelled as a result. The airport said it remained confident of its ability to handle this weeks walk-outs, having delivered “excellent passenger service throughout the previous strike periods,” with most passengers waiting [...]
