Sunak insists he will bring down taxes when inflation cools May 18, 2023 Rishi Sunak has insisted he will bring down taxes when inflation cools and claimed the economy is defying expectations. It comes after economists warned one in five people will be paying the higher rate of tax under his policies. The Prime Minister said the nation’s finances are receiving boosts from the departure from the EU, [...]
Credit Suisse AT1 bondholders force Swiss regulator to publish wipeout decree May 18, 2023 Bondholders burnt by the wipeout of Credit Suisse’s AT1 bonds have secured a small victory after forcing Switzerland’s financial watchdog to reveal the justification for its decision. When UBS acquired Credit Suisse, holders of Credit Suisse’s AT1 bonds were controversially wiped out on the orders of Finma, the Swiss financial markets regulator. An AT1 bond [...]
Why can’t Britain build any infrastructure? Delays, delays, delays… May 18, 2023 Major UK infrastructure projects are taking far longer than they used to despite changes to planning laws, according to a new report authored by consulting group Ankura. Delays to so-called ‘development consent order’ decisions have increased eight-fold since 2016 – despite those orders being in place to turn Britain into an infrastructure powerhouse. DCOs are [...]
Oceandiva London: The sustainable vessel on a mission to change London’s events scene May 18, 2023 Businesses are mobile - and that’s especially true in the case of Oceandiva, an 86m-long events vessel that arrived in London earlier this week.
Aston Martin share price soars after Chinese car giant Geely doubles stake to 17 per cent May 18, 2023 Aston Martin shares soared by more than 12 per cent this morning after Chinese automotive group Geely said it will increase its shareholding to 17 per cent with an investment of £234m. The investment will see Geely almost double its stake in the marque, becoming its third biggest shareholder, just behind Lawrence Stroll’s Yew Tree [...]
Deutsche Bank to pay $75m to settle lawsuit by Jeffrey Epstein accusers May 18, 2023 Deutsche Bank has agreed to pay $75m to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. The accord resolves claims in a proposed class action in Manhattan federal court by Epstein’s accusers, and was confirmed by their [...]
Sunak at G7: Post Brexit ‘vote of confidence’ as Japan firms to invest £18bn in the UK May 18, 2023 Japanese businesses are committing to invest nearly £18 billion in the UK, Rishi Sunak has announced as he meets the bosses of major firms in Tokyo. The Prime Minister said the pledges are a “massive vote of confidence” in the British economy after he painted an optimistic outlook for the national finances. But Mr Sunak [...]
National Grid powers to 15 per cent increase in profits of £4.6bn – but net zero investment still needed May 18, 2023 The National Grid powered a year of profits up 15 per cent to £4.6bn, off the back of major clean energy investments of £7.7bn – but it still isn’t enough to meet net zero goals. The electricity and gas company reported its year results ending March 31, saying it had been 12 months of “significant [...]
BT share price tumbles as firm announces tens of thousands job cuts May 18, 2023 BT has announced plans to slash its workforce by as much as 42 per cent over the next seven years in a bid to slash costs and become a “leaner business”.
Sign of the times: Super Noodles sales boost FTSE 250 outfit May 18, 2023 Premier Foods reported stronger annual profits in its preliminary results this morning, with a 13 per cent jump in pre-tax profits for the year ending in April to £137m, as strong brand performance helped the manufacturer weather supply chain disruption and high costs. The company, the maker of brands such as Mr Kipling, Ambrosia, Custard [...]
