Business confidence drops after tax hikes, says FSB report October 25, 2021 Forthcoming hikes to national insurance have dented business confidence ahead of the Budget, according to the latest quarterly report from the Federation of Small Businesses (FSB). The group’s small business index (SBI) has decreased from 18.6 points in Q2 2021 to 16.4 in Q3 2021. FSB surveyed 1,383 small businesses in late September and the [...]
London council energy firm nets millions in grants but supplies just 476 homes October 24, 2021 A LONDON council has raised eyebrows after taxpayers have handed over nearly £40m to its subsidiary energy company in the past five years, yet the provider still only serves 477 customers – and all but one are residential dwellings. B&D Energy is wholly owned by Barking and Dagenham Council. Since it was founded in 2016, [...]
BP paid ex-MI6 agents to snoop on peaceful climate campaigner October 24, 2021 BP has hired a private intelligence company set up by former MI6 agents to spy on a peaceful climate activist, according to a joint investigation from The Sunday Times and OpenDemocracy. The oil and gas giant has been using the intelligence firm to monitor a man who has highlighted its investment in fossil fuels. Chris [...]
TSB turns down ‘£1bn merger approach’ from Co-Operative Bank October 24, 2021 Co-operative Bank’s £1bn-plus offer for TSB has been rebuffed by its Spanish owners. Sabadell’s board decided to reject the offer at the end of September. The deal would have created a high street lender with 340 branches and over eight million customers, according to Sky News, which first reported the acquisition attempt. This would encompass [...]
Saudi Arabia announces 2060 net zero target ahead of COP26 climate summit October 24, 2021 Saudi Arabia has pledged to cut carbon emissions and reach net zero by 2060. Crown prince Mohammed bin Salman announced the country will push its climate agenda while maintaining its role as a leading producer of oil and gas. Speaking at the official launch of Saudi Green Initiative Forum, he revealed the country would spend [...]
UK inflation could go “above five per cent” this winter says new BoE chief economist October 21, 2021 UK inflation could rise above five per cent next year, said the Bank of England’s new chief economist. Speaking to The Financial Times, Huw Pill said: “I would not be shocked — let’s put it that way — if we see an inflation print close to or above five per cent [in the months ahead]. [...]
BDO faces FRC investigation over audit of collapsed construction firm October 21, 2021 Accountancy firm BDO is being investigated by the UK accounting regulator over its audit of collapsed construction company NMCN. The Financial Reporting Council confirmed on Thursday it was examining the BDO’s audit of NCMN’s financial statements and its final set of accounts before it filed for administration on October 4. BDO resigned as the group’s [...]
Oil hits three year high before falling back October 21, 2021 Brent Crude oil hit a three-year high at $86.10 a barrel on Wednesday night, before falling to $83.51 the following day. The price has risen over 60 per cent this year, supported by a slow ramp-up in supply and a global coal and gas shortage which has driven a switch to oil for power generation. [...]
COP 26: Modi will attend UK climate conference October 21, 2021 India’s Prime Minister Narendra Modi will go to the COP26 climate conference in Glasgow. The country’s environment minister Bhupender Yadav confirmed his upcoming attendance to Reuters on Thursday. This follows weeks of uncertainty about his participation. Yadav said, “PM is going to Glasgow.” The news will be welcomed in Downing Street, after snubs from both [...]
Government deletes net zero paper criticising business travel October 20, 2021 A government research paper pushing to stigmatise international business flights and promote domestic tourism has been hastily deleted. The report focused on changing public behaviour to reach net zero climate targets. On the basis that ‘social norms are contagious’, it wanted to change the perception of in-person business meetings involving international flights. It believed they [...]
