UK will miss net zero target if it fails chips industry, says Cognizant exec October 20, 2022 The government will miss its net zero target by 2050 if it fails to prioritise its semiconductor industry, the UK boss of US tech giant Cognizant has warned. Chips, used in most of today’s electronics, are critical in the green transition – from smart metres to windfarms – but are currently in short supply worldwide [...]
Truss government in complete chaos as she vows to fight on October 19, 2022 After vowing she was a “fighter” today, Liz Truss’ premiership looked more unstable than ever following the resignation of a senior cabinet minister and chaotic scenes in parliament earlier tonight. Home secretary Suella Braverman was sacked earlier in the day for a security breach, sparking an attack from the right-winger on the embattled PM. Braverman, [...]
Crypto has ‘serious deficiencies in governance’, warns Bank of England official October 19, 2022 A Bank of England official warned there are “serious deficiencies in governance” in the crypto ecosystem today as she laid out a vision for the industry to win back trust from investors.
‘The year of easy money is over’ for science and tech firms, says Edison director October 19, 2022 “The year of easy money is over” for listed science and technology firms, the executive director of investment research group Edison has said, six months after a global tech selloff rattled industries. Investors shed stakes in science and technology firms throughout March and April of this year, following an investment boom during the height of [...]
Government puts bank windfall tax on table to help plug fiscal hole October 19, 2022 The government has put a windfall tax on the UK’s largest banks on the table, sending their shares plummeting today. London-listed Lloyds Bank, which is Britain’s biggest mortgage lender, plunged to the bottom of the FTSE 100 index today, shedding 4.11 per cent. Previously state-owned NatWest trailed closely behind on the biggest losers’ table, dropping [...]
London’s FTSE 100 dragged down by windfall tax rumours hitting UK banks October 19, 2022 London’s FTSE 100 was dragged lower today by investors ditching UK banks on fears they will be hit by a windfall tax by new chancellor Jeremy Hunt. The capital’s premier index fell 0.17 per cent to 6,924.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Truss and Kwarteng did not brief BoE on mini-budget, dep governor Cunliffe says October 19, 2022 Liz Truss or former chancellor Kwasi Kwarteng did not tell the Bank of England of their plans to slash taxes £45bn in last month’s botched mini-budget, one of the central bank’s executives said today. Sir Jon Cunliffe, the Bank’s deputy governor of financial stability, told the treasury select committee today the government did not brief [...]
Energy prices will not return to normal this decade, warns Cornwall Insight October 19, 2022 Energy prices will not return to pre-crisis levels by the end of the decade, according to the latest data from Cornwall Insight.
Miner success: BHP and Antofagasta post bullish trading updates October 19, 2022 Two FTSE 100 mining groups groups have posted bullish production updates, despite challenging headwinds.
More than a quarter of a million people visit new Battersea Power Station in opening weekend October 19, 2022 Over a quarter of a million people visited the new Battersea Power Station last weekend, providing a much-needed boost to the new South London hotspot. Nearly forty years after the lights were switched off in one of London’s most defining landmarks and following an eight-year restoration project, visitors were able to enjoy the first of its [...]
