FCA to clamp down quicker on firms using permissions to dupe consumers May 19, 2022 The City watchdog is clamping down on firms using regulatory approvals to dupe consumers. The Financial Conduct Authority (FCA) is set to use new powers to allow it to revoke businesses’ permits to carry out regulated activity quicker, it announced today. The regulator is now able to cancel or change a firm’s permission if it [...]
Elon Musk slams rating agency after Tesla removed from ESG index May 18, 2022 Elon Musk has accused a rating agency of being “phony social justice warriors” after it removed Tesla from its ethical investing index. The S&P rating agency booted the EV giant from its ESG index on Tuesday, citing racism accusations at one of the factories and Tesla’s software malfunctions as the main reasons. The serial entrepreneur [...]
Social animals: Marston’s boss insists Brits’ thirst for the pub will not dry up despite historic inflation May 18, 2022 Brits will continue to be “social animals” at the pub, despite inflation hitting a 40-year high, the boss of Marston’s has said. “Having been locked up for two-three years, we are even more social animals,” Andrew Andrea insisted. The pub boss was optimistic that, despite increasing cost of living concerns, punters would continue to knock [...]
Telecoms provider Daisy Group acquires Sungard’s clients following collapse May 18, 2022 Telecoms provider Daisy Group has reportedly snatched clients from IT services and data management firm Sungard two months after the latter’s collapse. Daisy Group’s founder Matthew Riley signed a deal to transfer Sungard’s clients to Daisy, Sky News first reported. Customers were informed of the change via a letter which said that Sungard’s recovery sites [...]
European Commission unveils renewable targets in €210bn plan to ditch Russian fossil fuels May 18, 2022 The executive arm of the EU has pushed the trading bloc to ramp up renewable energy generation and reduce consumption levels.
40-year high inflation hits FTSE 100 and drags down pound May 18, 2022 City traders were today jolted by fresh figures revealing UK inflation is running at its highest level since the 1980s. The capital’s premier FTSE 100 index closed 1.07 per cent lower at 7,438.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.58 per [...]
Windfall tax would jeopardise North Sea investments argues UK’s offshore energy body May 18, 2022 The UK's leading offshore energy body has warned Kwasi Kwarteng that a windfall tax could undermine stability in the oil and gas sector.
Cheaper airport journeys in sight as Elizabeth line tickets will cost half of Heathrow Express May 18, 2022 Travelling to Heathrow aboard the Elizabeth line will cost half compared with the Heathrow Express. Tickets to the airport will be £10.70 off peak and £12.70 at peak times, respectively 57 and 49 per cent less compared with the high speed rail’s £25 ticket, the Evening Standard reported. In terms of duration, Crossrail services departing [...]
Back to the ’80s? Rishi should borrow from the playbook May 18, 2022 An embattled Tory Prime Minister hunkered down in Westminster. A cost of living crisis becoming the defining issue of the political age. Unions plotting strike action. The similarities between 1982 and 2022 are eerie, and they don’t even stop there: it was that year that a promising England team headed off to a World Cup [...]
The City View: Inflation hits 9%, and why companies should put consumers first May 18, 2022 Today Andy Silvester talks to Professor Seán Meehan from the IMD School of Management. They discuss the importance of customer centricity, and go through how companies can integrate consumer-first practices. Listen to his IMD Management podcast here. Andy also talks to City A.M.’s Andy also talks to City A.M.’s Economics and Markets reporter Jack Barnett. [...]
