UK flight compensation to be slashed under post-Brexit government plans: from £220 to £57 March 25, 2022 UK flight compensation rules could be slashed out, consumer champion Which? warned today. Under new government plans, passengers could see their refunds go from £220 to £57, saving airlines hundreds of thousands of pounds per year. “Ripping up current compensation rules for UK flights would be a huge blow for passenger rights and embolden airlines [...]
Exclusive: Carbonplace and Climate Impact X team up for carbon credit scheme March 25, 2022 Carbonplace and Climate Impact X have teamed up on a pilot scheme to lower entry barriers for carbon credits trading.
Wickes revenue surges past £1.5bn as DIY chain acknowledges cost of living crunch March 25, 2022 Wickes has reported revenue has hit £1.53bn after rising 14 per cent last year. Like-for-like sales were up 12 per cent on 2020 and 18.6 per cent on 2019, as lockdown shoppers turned to DIY projects. David Wood, chief executive, said the company expected to continue outperforming the market. Wickes was “well-placed to capitalise on [...]
Russia is serious about accepting Bitcoin for oil and gas, says senior lawyer March 25, 2022 Russia is giving serious consideration to accepting Bitcoin in exchange for its gas and oil exports, a senior lawmaker has claimed.
Medical cannabis facility headed for Kent following $100m investment March 25, 2022 A medical cannabis facility is headed for Kent, thanks to a record $100m investment by GW Pharmaceuticals. The new owner of the British pharma firm, Jazz Pharmaceuticals, will build factory at its existing site at Kent Science Park in Sittingbourne, The Times first reported. Following the $7.2bn takeover, more than 100 new, “highly skilled” jobs [...]
United Utilities says inflationary pressures will offset higher revenues this year March 25, 2022 The UK’s largest water company, United Utilities, has said it expects its higher revenues, which expects to post as part of its financial results in May, will be offset by higher costs, linked to mounting inflationary pressures. The Warrington headquartered utility said current trading is in line with expectations for the financial year ending on [...]
Retail sales drop as Brits return to venues while cost of living crunch looms March 25, 2022 Retail sales volumes fell 0.3 per cent last month as Brits made the most of Covid restrictions abating. Stormy weather also deterred shoppers from making trips to the high street, with Storm Eunice and Storm Dudley causing travel haovc across the country last month. According to the Office for National Statistics (ONS), shoppers bought less [...]
Exclusive: Competition watchdog to unveil open banking regulatory committee after fintech pressure March 25, 2022 The competition watchdog is set to unveil a new committee of regulators tomorrow to oversee the rollout of open banking technology, after sustained pressure from fintechs.
G7 leaders call on OPEC to raise oil supplies March 25, 2022 The leaders of the G7 nations yesterday urged OPEC to boost oil production following Russia's invasion of Ukraine.
City Moves: Who’s switching jobs in the Square Mile? March 25, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Tilney Smith & Williamson Wealth management and professional services group Tilney Smith & Williamson, which is set to re-brand to Evelyn Partners in the summer, has bolstered its London financial planning with a new director. Francesca Allard, [...]
