House prices may tumble a fifth if Bank of England hikes rates steeply, economists warn September 27, 2022 House prices could tumble as much as 21 per cent if the Bank of England is forced to hike interest rates steeply in response to the government’s tax and borrowing splurge fuelling inflation, City economists have warned. Mortgage affordability – the ratio of a home purchase loan to the size of the borrower’s income – [...]
Junior KPMG auditor ‘should have questioned’ manager’s instructions, tribunal says September 27, 2022 A 25-year-old junior KPMG auditor, who copied meeting minutes into a document as part of a scheme to deceive the UK’s Financial Reporting Council (FRC), “should have questioned” his manager’s instructions, a disciplinary tribunal has said. Junior accountant Pratik Paw, who was asked to forge documents by his superiors during an FRC inspection of KPMG’s [...]
Gas prices spike 30 per cent amid Nord Stream pipeline explosions September 27, 2022 Gas prices have skyrocketed this afternoon, following reports of explosions at the sites of reported leaks in the Nord Stream pipeline.
Sports streaming platform DAZN acquires ELEVEN Group September 27, 2022 Global sports streaming service Dazn has acquired Eleven Sports, making it the biggest football rights holder in Europe. Dazn Chairman Kevin Mayer described the deal as a “major moment” for the company because it will allow them to progress with their ambition to become a “daily destination for sports fans” globally. “It’s a win, win, [...]
Competition does not mean ‘regulatory race to the bottom’, banking watchdog warns September 27, 2022 The UK’s banking watchdog warned it will not engage in a “regulatory race to the bottom” today as Liz Truss and Kwasi Kwarteng prepare to shake up UK financial rules in a bid to boost growth.
SSE will back UK projects with fresh profits September 27, 2022 SSE has committed to reinvesting any further earnings from ultra-high wholesale power prices into building new domestic energy assets.
Labour suspends MP Rupa Huq over alleged racism against Kwasi Kwarteng September 27, 2022 Labour has suspended MP Rupa Huq for making allegedly racist comments against chancellor Kwasi Kwarteng. Huq told a Labour conference event that the chancellor is “superficially” a black man and that “if you hear him on Today programme, you wouldn’t know he’s black”. Tory party chair Jake Berry said he had “serious concerns” about her [...]
Walsh: Anything shy of 2050 net-zero goal will be a failure September 27, 2022 Aviation boss Willie Walsh is calling on governments and industry regulators to commit to a net-zero goal by 2050. “I think anything shy of that will be viewed as a failure,” he told journalists on Tuesday afternoon as he talked about the ongoing International Civil Aviation Organization (ICAO) assembly in Vancouver. The UN body’s assembly [...]
Labour conference: Starmer finds his feet in a bid to look prime ministerial September 27, 2022 British people weren’t done with queuing today. They politely stood in line to enter the main hall at the Labour Party Conference in Liverpool to hear Keir Starmer’s speech. There was, in fact, a queue for the queue to see Starmer, a feat the opposition party might’ve only dreamed of this time last year. The [...]
Starmer pledges new publicly owned energy firm as he says ‘this is a Labour moment’ September 27, 2022 Sir Keir Starmer has pledged to create a new publicly owned energy generation company if Labour wins the next election as he declares this is a “Labour moment” like 1997 and 1964. Starmer said the new company would be called Great British Energy and that it would take “advantage of the opportunities in clean British [...]
