Budget 2021: Thames Estuary one of eight new freeports March 3, 2021 The Chancellor has today used the Budget to announce the locations of England’s eight new “freeports”, including one on the Thames Estuary. The new economic zones, which offer tax advantages and customs relief to businesses, will provide an “unprecedented economic boost across the UK”, Rishi Sunak said. In addition to the Thames port, the other [...]
Budget 2021: Fuel duty freeze to continue for another year March 3, 2021 Chancellor Rishi Sunak has extended the freeze on fuel duty for another year, he announced at this afternoon’s Budget. It is the 11th straight year in which taxes on fuels have stayed the same price – 57.95p a litre. Motorists had feared that the decade-long freeze, which dates back to the days of the coalition [...]
Ryanair to launch own vaccine passport tool over delay fears March 3, 2021 Ryanair chief executive Michael O’Leary said this morning that the budget carrier is adding a tool to its app to allow passengers to upload vaccine certificates and negative coronavirus tests to get travel going again. Speaking to the parliamentary transport select committee this morning, the Irishman said that the airline had done so because it [...]
UK PMIs: Services activity stabilises after lockdown plunge March 3, 2021 UK services activity continued to contract last month, but bounced back from January’s dramatic tumble on optimism about a potential end to the pandemic. The IHS Markit/Cips purchasing managers (PMI) index for services registered 49.5 in February, with any score below the 50 mark indicating contraction. It came in just below analyst expectations of a score of [...]
Persimmon profit falls as spring site closures dent builder March 3, 2021 Housebuilder Persimmon said that its profit fell about a quarter in 2020 as a result of the coronavirus pandemic. The FTSE 100 firm reported profit of £783.8m over the last 12 months, down from £1.04bn in 2019. Despite the fall, shares in the firm rose 2.9 per cent after the open, as traders welcomed optimistic [...]
Precious metal price surge boosts Russian miner Polymetal March 3, 2021 Russian miner Polymetal today said that earnings hit a record high in 2020 as surging precious metal prices boosted the firm’s profit. The FTSE 100 firm said that earnings reached $1.1bn last year, up from $483m in 2019. In addition, revenue jumped 28 per cent to $2.9bn. A combination of higher production volumes, higher commodity [...]
Sadiq Khan urges Rishi Sunak to extend vehicle payment deferrals for taxi drivers March 2, 2021 Sadiq Khan has written to Chancellor Rishi Sunak ahead of tomorrow’s Budget to urge him to extend payment deferral for motor finance agreements so that private hire and taxi drivers can keep their vehicles. Many drivers lease or purchase their cars using financing options. When the pandemic struck, a six month deferral for payments was [...]
Global emissions surge back in December despite record annual fall March 2, 2021 Global carbon emissions have already returned to pre-Covid levels due to surge in energy usage driven by the global economic recovery to the crisis. According to data from the International Energy Agency (IEA), emissions were 2 per cent, or 60m tonnes, higher in December than they were in the same month a year earlier. That [...]
Taylor Wimpey reinstates dividend as profit falls two-thirds March 2, 2021 Housebuilder Taylor Wimpey today said that it would reinstate its dividend after a year in which profit before tax at the firm fell 68 per cent. Having cut its dividend when the coronavirus forced it into site closures in the second quarter, the FTSE 100 company said it would pay out a final dividend of [...]
Volvo joins race to quit petrol and diesel cars March 2, 2021 Volvo has this morning announced that it will switch to an all-electric range by the end of the decade. The Swedish automaker joins a host of other car makers in announcing a sweeping transition away from petrol and diesel vehicles in recent months. It said that 50 per cent of its global sales should be [...]
