Investors suing Russia say Kremlin will use law firm’s exit to delay $57bn Yukos Oil proceedings April 3, 2022 Investors suing the Russian state have raised concerns their case will be delayed after the New York City law firm acting on behalf of Russia exited the country and cut its ties with the Kremlin. A consortium of investors said they fear Russia will use delays to avoid paying a $57bn (£43bn) claim, by arguing [...]
UK could build up to seven nuclear power plants reveals Kwarteng April 3, 2022 The UK could build up to seven new nuclear power stations as part of plans to ramp-up domestic energy production.
Fast fashion: Shein raising funds at £100bn after IPO plans delayed amid Russia conflict April 3, 2022 Chinese fast fashion retailer Shein is reportedly eyeing a funding round at a valuation of some $100bn. The Gen Z e-commerce giant is in talks with potential investors to raise around $1bn, according to a report from Bloomberg, citing people familiar with the matter. Bosses are still mulling over the plans, with potential for details [...]
Lithuania puts pressure on EU with import ban on Russian natural gas April 3, 2022 Lithuania has become the first European nation to stop importing Russian natural gas to meet its domestic consumption needs.
Carnival shareholders told to oppose $15m pay bonanza for cruise boss April 3, 2022 Cruise ship operator Carnival has scrapped its pay rules to dish out a bonus worth $15m (£11.4m) to its chief executive, in a move set to infurirate shareholders. The owner of P&O Cruises granted a $6m bonus to Arnold Donald, despite standard performance criteria not being met, The Sunday Times reported. The cruise boss was [...]
Week ahead: City braces for Russia-Ukraine hit to economic activity April 3, 2022 The City will be combing through a week of closely watched economic data for signs of the Russia-Ukraine war weighing on growth. London’s premier FTSE 100 index rose 0.73 per cent last week to close at 7,537.90 points. The domestically-focused FTSE 250 index fared better, climbing 1.25 per cent. Fresh services purchasing managers’ indexes (PMI) [...]
Energy strategy: Shapps says he doesn’t support ‘vast increase’ of onshore wind farms April 3, 2022 Transport secretary Grant Shapps has said he does not support a “vast increase” in the amount of onshore wind farms in the UK, just days before Boris Johnson is set to announce the government’s new energy strategy. Shapps today said onshore wind farms are “eyesores” in a statement that will fuel speculation of a growing [...]
Ministers called to introduce ‘safety net’ for homeowners following hike in debt costs April 3, 2022 The UK Government was called on to bring a “safety net” for homeowners following a hike in household debt costs. The Lib Dems said extra help needs to be given to first-time buyers, as forecasts from the Office for Budget Responsibility showed household debt servicing costs will increase by £33bn in two years. Under the [...]
Ex Kingfisher boss Sir Ian Cheshire appointed Channel 4 chairman April 2, 2022 Former Kingfisher boss Sir Ian Cheshire was appointed today as chairman of Channel 4, Ofcome announced. The 62-year-old retail former executive will join the broadcaster’s board on 11 April, succeeding media executive Dawn Airey. Interviewed for the post in late February, Cheshire went against Rita Clifton, who ran Interbrand and now sits on the board [...]
Tory MP David Warburton sees whip withdrawn following harassment probe April 2, 2022 David Warburton, Tory MP for Somerset and Frome, saw his whip withdrawn following an investigation by the harassment watchdog. the Whips Office said today. Complaints sent to the Independent Complaints and Grievance Scheme alleged the 56-year-old behaved inappropriately. “I have enormous amounts of defence, but unfortunately the way that things work means that doesn’t come [...]
