World’s longest sub-sea power cable linking UK and Norway starts operations October 1, 2021 A 450-mile subsea power cable linking the UK and Norway has started commercial operations, allowing the two countries to share renewable energy, National Grid said this morning. Water flowing from mountains to fjords and harnessed by hydropower stations in Norway will power British homes, as the world’s longest “interconnector” hooks up the two countries’ grids. [...]
With S&P 500 down 4.8 per cent, September counted the worst losses since March 2020 October 1, 2021 September counted the worst monthly losses since the beginning of the pandemic, with stocks on Wall Street falling broadly yesterday. The S&P 500 ended the month 4.8 per cent lower, its first monthly drop since January and the biggest since March 2020, when the viral outbreak rattled markets as it wreaked havoc with the global [...]
Timpsons boss supports Raab’s suggestion to hire criminal offenders to fill vacancies October 1, 2021 Dominic Raab’s call for low-level criminal offenders to be used to address the country’s shortage of workers gets support from businessman Sir John Timpson. The Justice Secretary told The Spectator those given community sentences could help with the UK’s lack of HGV drivers amid concerns about fuel transportation. Sir John, whose company Timpsons began recruiting [...]
Brexit: Europeans need passport to enter UK from today as ID cards no longer valid October 1, 2021 As the UK government will cease to allow access to those travelling on national identity cards, most Europeans will need a valid passport to enter the UK from today. Following the change that was announced a year ago, most citizens of the European Union, European Economic Area, and Switzerland will no longer be allowed to [...]
Sainsbury’s looking to hire 22,000 people in supermarket’s biggest-ever recruitment drive October 1, 2021 Sainsbury’s is creating 22,000 seasonal jobs to help it meet higher demand around Christmas. The retail group, which also owns Argos, said it will be hiring store staff, delivery drivers and logistics workers as part of its “biggest ever recruitment drive”. Roles will be available across the UK from Friday, four weeks earlier than last [...]
Markets remain: US averting a shutdown does not resolve debt ceiling issue October 1, 2021 The US government won’t be shut today, as Joe Biden signed a funding bill that should keep the US government agencies running until 3 December. But that doesn’t resolve the whole debt ceiling issue, nor avert the risk of an eventual US default, commented Ipek Ozkardeskaya, Senior Analyst at Swissquote this morning. Treasury Secretary Janet [...]
Natwest chairman Sir Howard Davies on the ‘pandexit’ to China, levelling-up and crypto September 30, 2021 Sir Howard Davies is as near as the UK gets to the continental ideal of a polymath who is equally at home in the worlds of arts, industry, finance and politics. While currently serving as the chairman of banking giant Natwest, he is a former director of the LSE, a professor at Sciences Po in [...]
As UK wages soar, drivers say an expensive and chaotic Christmas is increasingly likely September 30, 2021 Truck drivers have warned that prices for everything from food to Christmas gifts will rise because an acute shortage of drivers is pushing up wages. Watch the full report.
VAT rise likely to hurt hospitality recovery and may cause more permanent closures September 30, 2021 The upcoming 7.5 per cent VAT rise will slow down Covid recovery for the hospitality sector and may lead to a number of additional closures, a SME tax expert told City A.M. today. The Government’s scaling back of its Covid support measure is coming too soon for businesses with little or no cash reserves, according [...]
Virgin Money store closures latest in long line of banks and lenders shutting branches September 30, 2021 Virgin Money’s latest tranche of branch closures, announced this morning, comes after swathes have been shut across the banking sector in recent months. The move to axe nearly a fifth of Virgin Money’s branch network – 31 stores with 112 jobs at risk – comes as rival HSBC also calls time on the last of [...]
