Tube and rail strikes THIS WEEK: How will industrial action affect London commuters and hospitality? March 11, 2023 Parts of Britain’s rail network – including London’s underground system – will be closed during next week’s Budget day strikes, bringing the country to a standstill and hitting hospitality hard. Hospitality bosses have warned the impact of the strikes will hit pubs, bars and restaurants hard, with an estimated £2.5bn having already been lost in [...]
Hunt pledges £20bn for carbon capture and nuclear ramp-up in clean energy push March 11, 2023 The government will commit billions of pounds to new energy projects at next week’s budget, in a bid to compete with rival markets.
UK culture sec urges Olympic partners like Coca-Cola and Visa to back Russia athlete ban March 11, 2023 The UK’s culture secretary has written to sponsors of the Olympics including Coca-Cola and Visa urging them to back a ban on Russian and Belorussian athletes. Lucy Frazer addressed the letter to the CEOs of the International Olympic Committee’s (IOC) Worldwide Partners, which include Coca-Cola, Intel, Samsung and Visa. The letter to CEOs comes after [...]
How the UAE has established itself as a global front runner in the race to regulate digital assets March 10, 2023 Max Davis of Charles Russell Speechlys sings the praises of the UAE and its bespoke approach to regulation of the crypto industry.
What’s going on at Silicon Valley Bank and why is it shaking UK banking stocks? March 10, 2023 Silicon Valley Bank (SVB) has built its reputation lending to some of the world’s most innovate start-ups and investors. But the Nasdaq-listed bank has now been rocked by what some fear could turn into a very old-fashioned bank run. Shares in the firm have plunged more than 60 per cent in two days and jitters [...]
Five best read on City A.M.: EY ‘business as normal’, 1,300 Lloyds Pharmacies up for closure, Cameron Smith, F1 ‘marriage’ on the rocks and crypto ban March 10, 2023 EY’s decision to push ahead with mid-year promotions after KPMG called off its April round was this week’s best read story on City A.M. It had some stiff competition with sporting heroes Cameron Smith and Lewis Hamilton vying for readers’ interest, not to mention news of a crypto ban and high street closures. We look [...]
Explainer: On the bad British tourist March 10, 2023 We all have long been acquainted with the concept of the bad British tourist. And alas, it’s not only a concept: it’s very much a reality. If you’re from or have been travelling around the Mediterranean, you’ll have encountered the old trope: big groups of British lads getting sunburnt in the day and rowdy in [...]
Sunak and Macron strike deal: Britain to pay France £500m in bid stop small boat Channel crossings March 10, 2023 Britain will pay France nearly half a billion pounds over the next three years to step up efforts to prevent small boats from crossing the Channel, Rishi Sunak has announced. The Prime Minister committed to sending Paris £478 million (541 million euro) to fund a new detention centre in France and hundreds of extra French [...]
Rules protecting consumers will mean fewer mortgage applications, finance leader warns March 10, 2023 A new consumer duty placed on financial firms could lead to lenders being more cautious and fewer people able to access a mortgage, the chief executive of trade association UK Finance has told an industry gathering. David Postings told UK Finance’s annual mortgage lunch in London that the measure is a “well-meaning idea”. He said: [...]
Last week’s optimism in the crypto markets has all but evaporated March 10, 2023 Jason Deane takes a look back over a curious week in crypto - a period that has quickly seen market confidence fizzle out.
