Summertime sadness: 2022 heatwave leaves insurers with £219bn subsidence bill March 21, 2023 Insurers are set to pay out £219m to Brits whose houses sunk into the ground due to the heatwave last year, new figures from the Association of British Insurers (ABI) show. The summer heatwave, which saw temperatures in the Lincolnshire town on Coningsby hit record highs of 40.3 degrees Celsius, led to a surge in [...]
Rail strikes: Pubs and bars breathe sigh of relief – but walkouts are still planned March 21, 2023 London’s hospitality sector has welcomed RMT trade members’ vote to accept a pay offer from Network Rail, after the strikes and disruptions cost restaurant and pub business up to £3bn. Kate Nicholls, chief executive at UKHospitality, described the decision as “encouraging news” for hospitality businesses. She said: “There’s plenty still to be done, of course, [...]
Panic, just a little bit of panic, was enough to drive Credit Suisse off a cliff March 21, 2023 After the collapse of SVB, investors and the bank's customers were on high alert for signs of shakiness and Credit Suisse was an obvious target as fears mounted over a wider, 2008-style banking crisis, writes Comment & Features Editor Sascha O’Sullivan
Credit Suisse failed time and time again to learn the importance of risk management March 21, 2023 The Credit Suisse saga should provide a warning for the whole sector: to be a good bank, you need patience and prudence more than sheer ambition and appetite for risk, writes Eliot Wilson
In the absence of fresh cash, it will be trade which drives further growth in the UK March 21, 2023 Jeremy Hunt's Budget almost ignored trade. But when cash is short, trade is the ultimate lever to unleash growth in our economy: that's why we must support companies to trade more, writes Chris Southworth
Met Police is ‘institutionally’ racist, misogynistic and homophobic, new review concludes March 21, 2023 The Metropolitan Police is “institutionally” racist, misogynistic and homophobic, while officers like killer Wayne Couzens and rapist David Carrick could still be in uniform, a damning review has found.
“Damning”: Seven key findings from the Casey Review of the Met Police March 21, 2023 The Met Police has been slammed as “institutionally racist, homophobic and misogynist” in a report triggered by the murder of Sarah Everard by a serving police officer. Louise Casey said the Met Police needed a “complete overhaul” to restore public trust and confidence. Here are the ten things you need to know: The Met is [...]
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 [...]
