National Grid partly nationalised in energy shake up April 6, 2022 The National Grid will no longer be responsible for keeping the country's electricity and gas flowing as part of a government shake-up.
Russian oligarch is continuing to use law firm’s address without permission, company says April 6, 2022 Scottish corporate law firm Burness Paull has claimed a Russian oligarch is continuing to use its address, without its permission. The claims come after it emerged that Alexey Krapivin – who is accused of using a network of shell companies to channel billions of dollars out of Russia’s state-owned railway operator – is in control [...]
Retailer sell off drags down London indexes April 6, 2022 A retailer sell off caused by concerns over a pull back in spending amid a tight cost of living squeeze led London’s top indexes lower today. The capital’s premier FTSE 100 index dropped 0.34 per cent to 7,587.70 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK [...]
Volkswagen reduces model range as part of electric drive April 6, 2022 Volkswagen will reduce its model range to focus on more profitable vehicles as part of its electric drive, finance chief Arno Antlitz told the Financial Times today. The group – who owns brands such as Seat, Skoda Audi and Porsche – will cut down on models, going from the current 100 diesel and fuel vehicles [...]
Ikea owner splashes out on £285m for solar parks across Europe April 6, 2022 The owner of Ikea has invested almost £285m across Europe with the purchase of nine solar park projects. Ingka Group has bought solar photovoltaic (PV) parks in Germany and Spain, from developer Enerparc, which have a combined capacity of 440 megawatt. “The expected production will be sufficient to cover all IKEA stores and warehouses in [...]
Landscaping firm Marshalls snags roofing specialist Marley April 6, 2022 Landscaping firm Marshalls has agreed to acquire roofing specialist Marley for £535m. In an update on the London Stock Exchange on Wednesday afternoon, the FTSE-250 company said the acquisition “represents a significant step towards achieving our strategic goal to become the UK’s leading manufacturer of products for the built environment.” Martyn Coffey, chief executive of [...]
P&O plans to restart services ‘by next week’ as boss plays down safety failings April 6, 2022 Beleaguered ferry firm P&O said it was looking to restart sailing on the Dover to Calais route as soon as this weekend, as its boss looked to play down safety failings that forced it to suspend services on its ships.
UK announces more sanctions on Russia’s largest bank Sberbank April 6, 2022 The UK has slapped more sanctions on Russia’s largest bank Sberbank and banned all outward British investment into Russia. Sberbank and Credit Bank of Moscow now have all their UK assets frozen, after similar measures were taken against other major Russian banks last month, with the pair also unable to do business in Britain. The [...]
The City View: Innovate Finance summit roundup, and two Lidl adverts banned April 6, 2022 Today Andy Silvester chats to City A.M. reporter Charlie Conchie, and whistles through the main headlines you need to know. Andy and Charlie go through this week’s fintech Innovate Finance summit — they discuss the London Stock Exchange CEO’s comments yesterday on bosses needing a pay boost; Ron Kalifa’s views on the mindset shift needed [...]
Hospitality business owners to pay £215m more in tax this year thanks to NI rise April 6, 2022 British pubs, restaurants and hotels will be forced to pay £216m more in taxes this year thanks to today’s rise in National Insurance for employees and employers. New figures collated by the Liberal Democrats also showed that workers in the hospitality industry will be hit with a £137m extra tax bill this year, after the [...]
