Ex-minister Harriett Baldwin elected as Treasury Committee chair November 9, 2022 Tory MP Harriett Baldwin has been elected as the new chair of the Treasury Select Committee, after prevailing in a cross-party ballot. Baldwin, a former Treasury and defence minister, defeated former cabinet ministers Andrea Leadsom and Kit Malthouse in the vote. Baldwin will begin the role immediately, after previous chair Mel Stride was recently appointed [...]
UK government to examine pros and cons of blockchain technology and NFTs November 9, 2022 The UK government’s Department for Digital, Culture, Media & Sport is accepting evidence for its inquiry into blockchain and NFTs.
Tesco nudges 2m shoppers to spend £13m of expiring vouchers before Christmas rush November 9, 2022 Tesco has reminded 2m of its customers to spend up-to £13m in unclaimed vouchers before they expire in a bid to battle the cost of living crisis this Christmas. The retail giant’s friendly nudge to almost 2 million people comes as the cost of living continues to bite, and many look to save money ahead [...]
Venture Capital funds reverse as private firms are hit by headwinds November 9, 2022 Private equity and venture capital funds have reversed and begun losing investors cash in the past quarter as the market is buffeted by a cocktail of interest rate hikes and a looming recession, according to a new report.
City workers surprised by golden state coach in pre-dawn rehearsal for Lord Mayor’s Show November 9, 2022 City workers getting to the Square Mile in the early hours of this morning were surprised by a golden State coach during a rehearsal for the Lord Mayor’s show this weekend. The Lord Mayor’s golden coach made its way through the dimly-lit streets of the City of London pulled by six horses, and followed by [...]
Nigel Farage backs Simpson’s Tavern campaign railing against City becoming ‘corporatised and homogenised’ November 9, 2022 Brexit campaigner Nigel Farage has thrown his weight behind the campaign to save the historic Simpson’s Tavern, as a crowdfunding campaign approached £80,000. The former UKIP and Brexit Party leader, who worked in the city before entering politics, penned an op-ed this week blaming the ‘work from home culture’ as a contributing factor to the [...]
EQT Ventures eyes UK investment spree with £970m fund November 9, 2022 Sweden’s EQT Ventures said it was eyeing up a UK investment spree today after it bucked a downturn in the market to raise $1.1bn (£970m) to pump into early-stage tech firms across Europe.
Novavax dials back revenue expectations despite Covid-19 jab success November 9, 2022 Novavax, an American biotech firm, has dialled back its revenue expectations, despite roaring success from its Covid-19 vaccine. In a statement last night, the company announced that it now forecasts full year revenue to be on the low end of its previously forecast range of between $2bn (£1.7bn) and $2.3bn (£2bn). The company, which was [...]
UK at greater risk of mortgage default wave than international counterparts November 9, 2022 The UK is at greater risk of being jolted by an uptick in mortgage defaults during the global economic slowdown, a top Wall Street bank has warned. Goldman Sachs reckons the country will undergo a bigger unemployment surge compared to other English speaking countries, dealing a heavy blow to households’ capacity to pay off home [...]
Barclays told to pay £1m to more than 1,000 mortgage customers over PPI breaches November 9, 2022 The UK’s competitions watchdog has ordered Barclays to pay up to £1m in compensation to at least 1,000 of its mortgage customers, over its failure to comply with rules around Payment Protection Insurance (PPI) policies. The UK’s Competition and Markets Authority (CMA) said Barclays should pay compensation to as many 1,306 of its mortgage customers, [...]
