OBR blames optimistic economic forecasts on ‘volatile’ environment March 20, 2023 Overly optimistic economic forecasts are down to the “very volatile” nature of the UK in recent years, the Office for Budget Responsibility (OBR) chairman has said. The official Treasury watchdog was warned by Deutsche Bank analysts that it may have repeated its mistake of over-estimating growth figures and wiping out spending power. Speaking at a [...]
Sadiq Khan: Climate deniers will be ’emboldened’ if ULEZ expansion fails March 20, 2023 London’s ultra-low emissions zone (ULEZ) expansion is now a “key frontier” in the global fight against climate change, Sadiq Khan has said. The mayor of London has called on the environmental lobby to come out more strongly in favour of the controversial policy, saying climate change deniers will be “emboldened” if it fails. Speaking at [...]
FTSE 100 closes up as investors hope Credit Suisse deal will contain banking crisis March 20, 2023 Markets managed to shrug off turmoil in the banking sector to finish the day higher despite huge turmoil in the financial sector. The FTSE 100 closed 0.93 per cent higher at 7,403.85 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.13 per cent [...]
Going green: Harvest London set to build ‘vertical farm’ in the Croydon suburbs March 20, 2023 A LISTED investment manager has injected funds into vertical farming firm Harvest London to build a cutting-edge site near Croydon. Harvest has built two farms in the capital so far and partnered with brands including Pizza Pilgrims to deliver locally-grown produce with minimal environmental impact. Harvest has secured investment from Foresight to build a 140,000 [...]
UBS and Credit Suisse face legal threats after bond wipeout and shareholder bypass March 20, 2023 UBS and Credit Suisse are facing potential legal action from investors after the controversial tie-up between the two banks bypassed a vote by shareholders and wiped out $17bn of Credit Suisse bonds.
Credit Suisse set to pay bonuses and boost salaries despite UBS takeover March 20, 2023 Credit Suisse is reportedly set to pay out bonuses and go ahead with planned salary increases for its staff despite the dramatic acquisition of the bank by UBS over the weekend. In an internal email sent to members of staff and seen by the Financial Times, the beleaguered lender said it “will continue to allocate [...]
Explainer: The DUP won’t back Rishi’s Brexit deal – but does it matter? March 20, 2023 The DUP said today that it will vote against Rishi Sunak’s Windsor Framework Brexit plans. Party leader Sir Jeffrey Donaldson is concerned about the so-called ‘Stormont brake’, which allows the assembly to block new incoming rules from Brussels from applying in Northern Ireland. “Whilst representing real progress, the ‘brake’ does not deal with the fundamental [...]
Newcleo announces plans for €1bn fundraiser as it targets UK nuclear industry March 20, 2023 A potential nuclear power player with ambitions for the UK market is working to raise up to €1bn equity in an upcoming equity raise.
Window of opportunity to preserve liveable climate rapidly closing, UN warns March 20, 2023 There is a rapidly closing window of opportunity to lower greenhouse gas emissions and secure a safe and liveable future, says the UN.
‘Nothing changed since Stephen Lawrence’s murder’: Backbench Tory MP calls for Met to be ‘abolished’ March 20, 2023 The Met Police should be “abolished” after failing to change since the murder of teenager Stephen Lawrence, a Conservative MP has suggested in the wake of a blistering report. Baroness Louise Casey branded the Met “institutionally racist, misogynist and homophobic” and warned cops like killer Wayne Couzens and rapist David Carrick may still be in [...]
