Investec profits set for £100m hike with bank latest to enjoy a boost from rising interest rates March 16, 2023 Banking and wealth management group Investec said it would report a significant increase in profit compared to last year, with rising interest rates boosting the firm’s bottom line. Releasing a statement ahead of the bank’s year-end on 31 March, Investec expects to report an adjusted operating pretax profit of between £782.8m and £833.6m. Last year’s [...]
Vodafone Business CEO steps down as mobile giant battles European sales slowdown March 16, 2023 The chief executive of Vodafone Business will leave the mobile giant at end of this year, it has been announced. Vinod Kumar will continue to run the business until 31 December before pursuing a portfolio career. This comes after the dramatic stepping-down of Vodafone Group’s former CEO Nick Read in December 2022, with Margherita Della [...]
Dominic Raab claims staff ‘relish’ ambitious agenda as bullying inquiry continues March 16, 2023 Justice secretary Dominic Raab has said the “overwhelming majority” of his staff “relish” working on his “very ambitious agenda”, as an ongoing inquiry into bullying claims continues. Adam Tolley KC is investigating bullying claims and considering a number of formal complaints made by senior civil servants against Raab, who is also deputy prime minister. Asked [...]
Energy bosses urge Hunt to bring in social tariff to support vulnerable households March 16, 2023 Energy bosses have called for a social tariff to ease pressure on households facing record bills, with Hunt extending support in the Budget.
Coal for Christmas? National Grid to pursue emergency supplies for next winter March 16, 2023 National Grid has been requested by the government to explore the procurement of coal power plants for next winter.
Rail strikes: Hospitality says it has lost £3bn as it becomes ‘collateral damage’ in rail dispute March 16, 2023 London retail and hospitality bodies have said that the sector is “suffering” due to ongoing tube strikes as the disruptions continue to take a large bite out of the sector’s earnings. As Tube and rail strikes grind London to a halt this week, trade body UKHospitality has claimed that pub and restaurant businesses are expected [...]
Defence spending given £11bn boost as former minister warns of new Cold War March 16, 2023 Defence spending is set to increase by £11bn over the next five years amid fears over the UK’s “hollowed out” armed forces. Chancellor Jeremy Hunt confirmed in Wednesday’s budget that the Ministry of Defence’s finances would receive an £11bn boost over the next half-decade. But Tobias Ellwood, defence committee chairman, said the Chancellor has left [...]
Grant Shapps backs nuclear power in net zero push March 16, 2023 Nuclear must form part of a decarbonised portfolio of energy production, argued Grant Shapps, energy and net zero secretary.
Businesses were hunting among the slim pickings for fresh cash to boost growth across the UK March 16, 2023 There wasn't much fresh cash for businesses in yesterday's Budget. But it certainly showed a calmer approach after the political upheaval of only months ago, writes Tim Sarson
New chancellor, same story: London is always left out of Whitehall’s plan for growth March 16, 2023 London won’t always keep growing if it is continually ignored by government. What will the Chancellor have to say then?
