UK economy to emerge from recession 10 per cent smaller than pre-Covid path November 8, 2022 The UK economy will be 10 per cent smaller compared to its pre-Covid growth path after the Bank of England’s forecasted two year recession, a top Wall Street bank has warned. JP Morgan said in a note to clients Britain is on course to miss out on a large chunk of much needed economic growth [...]
Brexit: Fresh setback for UK plan to ditch all EU legislation by end of 2023 November 8, 2022 The UK government’s post-Brexit plan to ditch all EU laws by the end of next year have fallen further into jeopardy, after civil servants discovered 1,400 more pieces of retained legislation. Prime Minister Rishi Sunak is reviewing his pledge to review or replace all 2,400 pieces of retained EU legislation by the end of 2023 [...]
Nvidia seeks to maintain chip relationship with China despite US export ban November 8, 2022 Nvidia, one of the largest American chipmakers, has sought to maintain its trade relationship with China despite the US’ export ban with a new graphics chip. The company has started production on a computer processor for China, known as A800 GPU, which abides by the new rules that aim to limit the country’s access [...]
Across the pond: Transatlantic travel booms following US border reopening November 8, 2022 Transatlantic travel has boomed over the last 12 months following the US border’s reopening last November. Data published today by aviation analytics firm Cirium showed that flights from the UK to the US have increased 79 per cent on last year’s level, going up to 92 per cent of pre-pandemic times. Heathrow was the UK’s [...]
The Electronic Trade Documents Bill: The problem, solution and potential benefits November 8, 2022 Five years after his report on blockchain in the Upper House, Lord Holmes spoke in the second reading debate for the Electronic Trade Documents Bill.
JP Morgan settles with trader fired over wrongful allegations of market spoofing November 8, 2022 JP Morgan has settled with a trader, who was wrongly fired from his job for market spoofing, after the bank failed to pay a £1.58m sum awarded to him by an employment tribunal in January. Ex-trader Bradley Jones was awarded £1.58m after an employment tribunal ruled he was wrongly fired from his £220,000 a year job [...]
Judge blames Baker McKenzie lawyers charging £800 an hour for ‘disproportionate’ costs budget November 8, 2022 A High Court judge has told Associated Newspapers Ltd to lower a “disproportionate” legal costs budget, in suggesting the Daily Mail owner should reconsider its use of “expensive” lawyers from US law firm Baker McKenzie paid more than £800 an hour. Judge Roger ter Haar KC told Associated Newspapers to revise its £3.18m legal costs [...]
Bank of England not to blame for looming record recession, chief economist stresses November 8, 2022 The Bank of England is not to blame for the UK fumbling into the longest recession since records began and rate setters are not “inflation nutters,” its chief economist said today. Huw Pill, who replaced Andy Haldane last year as Threadneedle Street’s top wonk, said the UK’s slowdown is being “driven by other forces” beyond [...]
Barry’s: Office return to City comes ‘hand in hand’ with thriving fitness industry November 8, 2022 The return of office workers and recovery of the fitness sector come “hand in hand”, according to Barry’s Bootcamp London co-founder Sandy Macaskill. Gym-goers’ routines were set off course during the pandemic with “stop-start” closures hitting the fitness industry hard over the past three years. For the head of Barry’s, which has seven studios in London [...]
Beximco Pharma warns of ‘little to no revenues’ from Covid-19 jab deal with Bangladesh November 8, 2022 Beximco Pharmaceutical shares have slipped after the company warned of “little to no revenues” from its deal with the government of Bangladesh for Covid-19 vaccines. The London-listed company, which last year sealed the deal for a majority stake in Sanofi’s Bangladeshi business, had been supplying the AztraZeneca/ Oxford vaccine to the government of Bangladesh (GOB). [...]
