Airlines call on EU to include polluting flights in CO2 pricing scheme December 7, 2022 Airlines have called on the EU Commission to include long-haul and more polluting flights into its environmental regulation. The comments come on the heels of the Commission announcing that EU airlines will pay more for their CO2 emissions. “Yet again the Commission led by Ursula von der Leyen has abandoned the environment and Europe’s ordinary [...]
Dragons’ Den star Levi Roots on Brixton being the ‘sauce’ of entrepreneurial spirit December 7, 2022 In Brixton, the “heartbeat of the community” is its market, Dragons’ Den star and the businessman behind Reggae Reggae sauce, Levi Roots, tells CityA.M. The south London district has been Roots’ home ever since he moved to the UK as a young child from Jamaica, so it’s no surprise it is close to his heart. [...]
City law firms will be ‘key’ to driving UK’s economic growth December 7, 2022 The City’s top law firms will play an “integral” part in securing the country’s long-term growth, one of the the City’s most powerful lobby group has said. Britain’s law firms already play an integral role in ensuring London’s position as a “world leading financial centre” in acting as a “critical platform on which other economic [...]
Exclusive: Planned redundancies in financial services up 46 per cent in last quarter December 7, 2022 Redundancies in financial services are up 46 per cent in the last quarter as employers look to save money amid the prospect of a bleak economic winter. Recessionary headwinds have “caught up” with hundreds of firms, forced to move on from desperately filling a shortage of staff, to letting existing employees go. In figures exclusively [...]
Wall Street banks shed staff as global slowdown bears its teeth December 7, 2022 Wall Street banks are laying off workers to offset the damage inflicted on their finances by a slowing global economy. US lender Morgan Stanley yesterday became the latest firm to announce redundancies, shedding two per cent, or around 1,600, of its workforce. Goldman Sachs earlier this year also slashed staff and its chief executive, David [...]
Loosening Covid-19 laws in China will not be economy’s silver bullet, says ING December 7, 2022 The loosening of strict Covid-19 restrictions in China Is unlikely to be the silver bullet the local economy needs, according to banking giant ING. China announced today that it is further relaxing its pandemic measures, meaning only those working in high-risk positions and located in elderly homes, hospitals, child care and primary schools will need proof of [...]
GSK and Sanofi shares jump with investor fears soothed by Zantac ruling December 7, 2022 Shares in GlaxoSmithKline (GSK) and Sanofi jumped today, after thousands of claims apart of the Zantac lawsuit were dismissed. Investors’ fears were soothed yesterday when US district judge Robin Rosenberg rejected 50,000 claims in federal court for not being based on sound science. GSK’s shares jumped around eight per cent to 1,498.00p per share in [...]
Christmas strikes: Border Force to walk out for eight days December 7, 2022 Border Force staff working at several UK airports will strike over the Christmas period in a long-standing dispute over jobs and pay. Members of the union PCS will walk out between 23 and 26 as well as 28 and 31 December at several UK airports, including Heathrow and Gatwick. According to aviation analytics firm Cirium, [...]
UK and Japan join forces on chip supply with Taiwan ties feeling ‘risky’ in China conflict December 7, 2022 The UK and Japan have pledged to improve the resilience of their semiconductor supply chains, as part of a freshly inked partnership between nations. In a statement today, the UK government said the partnership – which will oversee a combined IT sector worth more than £406bn – will further cement foundations for trade and investment [...]
UAE telcos Emirates ups stake in Vodafone December 7, 2022 United Arab Emirates-based Emirates Telecommunications upped its stake in Vodafone to 11 per cent this morning, but dismissed that it would make any grand swoop for the British telecoms firm. Vodafone’s biggest shareholder, once known as Etisalat Group, upped its stake by one per cent, stating that the rationale for investment was “unchanged” from the [...]
