The City View: Keeping The Lights On March 7, 2022 In this Monday episode Andy Silvester chats to Jack Barnett, City A.M.’s Economics and Markets reporter, about European market reaction to Russia-Ukraine; energy prices and how commodity price hikes could impact inflation; and the difficulty for countries in switching off from Russian energy. Andy also takes us through the headlines: Sanjeev Gupta, CEO of Liberty [...]
Deloitte becomes last of the Big Four to exit Russia March 7, 2022 Accountancy and audit heavyweight Deloitte has become the last of the Big Four to pull out of Russia, following its invasion of Ukraine – joining EY earlier today. PwC and KPMG announced similar moves last night, citing the Russian government’s actions in Ukraine. Deloitte confirmed last week that it was reviewing its “business and presence [...]
LetterOne oligarchs resign from board after sanctions hit co-founders March 7, 2022 The investment firm co-founded by sanctioned oligarchs Mikhail Fridman and Petr Aven has today announced its three remaining Russian billionaire co-founders will also resign, as it battens down the hatches for further sanctions.
Soaring energy prices could see manufacturing firms call for NI hike cancellation March 7, 2022 Soaring energy prices could prompt companies within the manufacturing sector to urge for the cancellation of the national insurance (NI) hike which is due next month. Businesses may also start to call on the government to haul in energy subsidies, as inflation and raw material costs continue to spiral – which could present a dilemma [...]
Gold diggers: Mining firms team up to address market ‘challenges’ March 7, 2022 London-based gold and nickel exploration firm Katoro Gold has entered into a joint venture with an Australian company Lake Victoria Gold. The companies plan to work on Katoro’s so-called Imweru Gold Project, after it had previously announced the sale of the scheme. Katoro chief executive Louis Coetzee said the agreement “was a strategic decision by the [...]
Ukraine: Johnson to set out UK energy strategy ‘in days ahead’ as EU clings to Russian oil and gas March 7, 2022 Boris Johnson has vowed to set out a new UK energy strategy to deal with the fallout of the Ukrainian invasion as EU leaders declare they cannot cut off Russian oil and gas yet. Johnson said the plan will be set out “in the days ahead” and that the UK is looking at “using more [...]
If the industry doesn’t work together to protect consumers, crypto will never reach the mainstream March 7, 2022 Tristan Roozendaal, CEO of Centralex, argues that If the industry doesn’t work together to protect consumers, crypto will never reach the mainstream.
HMRC withdraws winding up petitions for GFG Alliance firms March 7, 2022 The taxman has withdrawn petitions to wind up four steel businesses from GFG Alliance, providing under-fire steel king Sanjeev Gupta a late hour reprieve. GFG announced on Monday that positive discussions with creditors had resulted in the petitions being withdrawn. The conglomerate had been searching for rescue financing to save firms including Liberty Steel after [...]
UK, Netherlands and Canada create International Ukraine Support Group to provide coordinated aid March 7, 2022 The UK, Netherlands and Canada today created the International Ukraine Support Group to ensure there is “unwavering assistance now and in the future” to Ukraine. Boris Johnson, Canadian PM Justin Trudeau and Dutch PM Mark Rutte made the announcement today, after the trio met in London today. The Prime Minister said “we will be encouraging [...]
Rolls-Royce’s small modular reactors enter approval process after successful funding round March 7, 2022 Rolls-Royce's small modular reactors are a step closer to construction with the project set to begin the approval process.
