Joe Biden: Putin ‘not joking’ about using nuclear weapons October 7, 2022 US President Joe Biden has warned Vladimir Putin is “not joking” about using nuclear weapons and the world could face the prospect of “armageddon”. The leader of the free world made his comments at a fundraising event for his Democratic Party in New York, as the battle for eastern Ukraine continues to rage after Putin’s [...]
Avanti operator FirstGroup gets six-month extension from DfT to improve ‘unacceptable’ service October 7, 2022 FirstGroup has struck a short-term deal with the government to continue its contract for the West Coast Partnership (WCP) until Match next year. The Department for Transport placed the operator on a six-month contract and “challenged it to deliver the urgent increase in services required”. The deal includes the operation of Avanti West Coast, which [...]
Superdry back in the black after pandemic-induced loss October 7, 2022 Superdry is back in the black with a profit before tax of £22m, recording from a loss of £12.6m last year. The British clothing giant’s statutory profit was up to £18m following a loss of £36.7m last year, while its revenue was up almost 10 per cent to £609.6m, from April 2021 until 2022. Buoyed [...]
Exclusive: UK data-driven lender Channel launches £300m plan for fintech SMEs October 6, 2022 A data-driven lending firm has launched a new £300m funding plan for fintechs SMEs. A third of the UK-based Channel Capital Advisors’ £300m shot-in-the-arm will be released immediately, City A.M. can exclusively reveal. The fund, which has backing from global investors, will support digital lending fintech platforms that need cash to finance their loans to [...]
Exclusive: Most business managers don’t think it’s their job to help staff with cost of living woes October 6, 2022 Most business leaders do not see it as their responsibility to support staff with financial woes. New figures exclusively shared with City A.M. this morning from financial wellbeing Mintago lifts the lid on a lack of strategy for British firms during the cost of living crisis. Surveying 762 managers, almost 40 per cent said they [...]
Bishopsgate stabbing: Four injured in major incident, two suspects being sought October 6, 2022 Police are seeking two suspects after three people were stabbed stabbing in Bishopsgate this morning. Emergency services rushed to the scene of an incident in the heart of the Square Mile just before 10am. It was reported that three individuals were stabbed and one person was pushed to the floor, as they confronted someone attempting [...]
Dorries: Truss ‘deserting the centre ground’ with ‘unconservative’ benefit cuts October 6, 2022 Nadine Dorries has accused Liz Truss of “lurching to the right and deserting the centre ground” allowing Labour leader Keir Starmer to “place his flag on”. The former culture secretary who supported Truss in her leadership bid and was a staunch supporter of Boris Johnson, said the government’s policies were “cruel” in a time of [...]
Truss facing revolt on real-term benefits cut as she insists ‘no decision has been made’ yet October 4, 2022 Liz Truss has suggested she is undecided on increasing benefits in line with inflation, as she faces a rebellion from backbench Tory MPs over the policy. The embattled PM was probed on the issue during a BBC Radio 4 Today Programme interview, in wake of a testing day on Monday during which she was forced [...]
IFS warns ‘massive spending cuts will still be needed’ despite Kwarteng U-turn October 3, 2022 The Chancellor’s U-turn on his plans to axe the 45p tax rate will do little to ease the pressure on the UK’s public finances and the mammoth spending cuts needed to get borrowing back on track, think tank experts have warned. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said the about-turn on [...]
FTSE 100 falls after dramatic 45p U-turn, as pound erases gains against dollar October 3, 2022 The pound pushed higher on Monday morning after the government said it would scrap its planned 45p income tax cut, while the markets dipped in response to the dramatic news. Sterling leapt by as much as one per cent against the US dollar to $1.12 early on Monday morning while teetering back slightly after a [...]
