Snow chaos: Disruption across London continues with severe delays on tube lines December 12, 2022 Disruption across London’s transport network continued throughout the day following last night’s heavy snow. Services across the wider tube network were affected by severe delays, especially on the Central, Jubilee and Piccadilly lines. Minor delays were reported on the District, Hammersmith & City, Victoria and Northern lines as well as on the Overground between Euston [...]
Investors take risk off approach to open busy data and rates week December 12, 2022 Investors ditched risky assets yesterday ahead of a bumper week of global economic announcements before the Christmas break, weighing on London’s FTSE 100. The capital’s premier index shed 0.41 per cent to close at 7,445.97 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell [...]
EU to push for greater sanctions compliance with new special envoy December 12, 2022 The EU is set to put one of its top civil servants to the task of pushing for greater compliance with sanctions against Russia, in third-countries including Turkey, Serbia, and the United Arab Emirates (UAE). David O’Sullivan, the bloc’s former ambassador to the US, is set to take up a new role in January, in [...]
Kwarteng was warned by Treasury boffins about market reaction to mini-Budget December 12, 2022 Kwasi Kwarteng was warned by senior civil servants about a potential adverse market reaction to measures announced in the catastrophic mini-Budget, it has been revealed. Beth Russell, second permanent secretary at the Treasury, today said she told the former chancellor that financing £50bn of tax cuts through borrowing could spook the markets. Financial markets reacted [...]
Microsoft becomes shareholder in the London Stock Exchange Group December 12, 2022 Microsoft snapped up a stake in the London Stock Exchange Group this morning, as big tech continues to disrupt the world of trading. As part of the deal, Microsoft will buy a four per cent stake in the exchange worth about £1.5bn from Blackstone, Thomson Reuters, Canada Pension Plan Investment Board and Singapore’s sovereign wealth [...]
EU faces €100bn bill to stave off blackouts next winter, warns IEA December 12, 2022 The European Union faces a €100bn bill to stave off supply shortages next winter, warned the International Energy Agency.
Network Rail Christmas strike to go on as workers reject pay offer December 12, 2022 The strikes planned on Network Rail over the Christmas period are set to go on as members of the union RMT have rejected the company’s latest pay offer. Thousands of rail workers will walk out between 6pm on Christmas Eve and 6am on 27 December, disrupting planned engineering works. This will be in addition to [...]
New York law firm ups pay for newly trained London lawyers to £165,000 a year December 12, 2022 New York law firm Weil, Gotshal & Manges has become one of the City’s highest paying firms after hiking salaries for its newly-qualified lawyers to heights of £165,000 a year. Weil Gotshal’s £5,000 pay hikes for NQs in its London office puts the New York headquartered firm in fourth place in the ongoing pay battle [...]
Crypto AM Spotlight: Advances in economic transformation with Convex December 12, 2022 Crypto AM shines its spotlight on the Convex Foundation as it looks to make monetary and value exchange services available to all.
Cleverly says ‘comfort blanket allies’ not enough as he vows wider UK engagement December 12, 2022 Britain cannot rely on its traditional “comfort blanket allies” and must expand its engagement with developing countries, foreign secretary James Cleverly has said. Cleverly said the UK’s relationships with western countries were “rock solid”, but not enough to “sustain the international order”. The speech, Cleverly’s first major intervention as foreign secretary, signalled a move away [...]
