Exclusive: £18bn bill to upgrade to London’s energy inefficient homes November 16, 2022 Upgrading London’s leaky homes will come with a price tag of a mere £18bn, amid industry and consumer calls to improve the energy efficiency of the UK’s housing stock. More than 2m homes in the capital have an energy performance certificate (EPC) rating of D or below, meaning that it will cost just over £18.5bn [...]
North Sea oil and gas production will be hit by hiked windfall tax, says Investec November 16, 2022 The UK jeopardises future North Sea oil and gas production, if the windfall tax is toughened up tomorrow, argued Investec.
UK inflation scales to 41-year high, but analysts bet it has peaked at 11.1 per cent November 16, 2022 UK inflation has surged above the City and Bank of England’s expectations to reach a new 41 year high, but experts said it may now have peaked, official figures revealed today. Prices rose 11.1 per cent over the last year, pushing the rate a whole percentage point higher from September, according to the Office for [...]
A little birdwatching: Are tech firms like Musk’s Twitter ready for regulation? November 16, 2022 ELON MUSK’s dramatic takeover of Twitter – complete with firing the entire management team and half the staff – has been the talk of, ahem, Twitter for the past week, as well as much of the rest of the world. It has also divided opinion amongst the most strongly politically engaged. Many on the right [...]
Musk defends $56bn Tesla pay package saying he was focusing on the company’s execution November 16, 2022 Elon Musk took the stand to defend his $56bn (£47.7m) Tesla pay package from 2018, saying the EV maker was his sole focus at the time. “I was entirely focused on the execution of the company,” he told a US tribunal on Wednesday. Musk was taken to court by a company shareholder who accused the [...]
Novartis mulling billion-dollar sales of ophthalmology and respiratory units November 16, 2022 Novartis is reportedly mulling the sales of two of its divisions, which could flood the pharma giant with billions new capital. The Swiss-American pharma giant is engaged in early discussions for the sale of its ophthalmology and respiratory units, Bloomberg first reported, citing people familiar with the matter. The divisions, non-core assets for the firm, [...]
Delinquent tax balloons to £38bn as HMRC walks ‘fine line’ to avoid mass insolvencies November 16, 2022 Unpaid tax has ballooned by 10 per cent to almost £38bn in the last three months of the year, but HMRC is concerned about triggering a wave of insolvencies. HMRC denied claims it is ramping up its debt collection, as it comes under increasing pressure to chase up delinquent payers in a time of economic [...]
Beaverbrooks: We don’t expect government to solve all of firms’ problems November 16, 2022 A wedding “catch-up” boom post-pandemic has driven momentum for jeweller Beaverbrooks, its top boss told CityA.M. After the Covid-19 lockdowns saw many couples put plans to get hitched on hold, the easing of restrictions has seen a boom in plans for nuptials, driving ring sales, Anna Blackburn said. The pandemic spurred some couples to get [...]
TikTok tackles US data woes head-on and digs at Twitter November 16, 2022 THE CHIEF of TikTok said the video-sharing giant was pumping heaving investment into US data security in a bid to allay fears from across the Atlantic. Speaking at the Bloomberg New Economy Forum in Singapore earlier today, TikTok boss Shou Zi Chew said the firm was working on ‘Project Texas’, which would isolate sensitive data [...]
London’s last dance? Night czar Amy Lamé talks clubs facing lights out November 16, 2022 Night czar Amy Lamé talks to CityAM about London’s nightlife facing lights out, the capital as a 24 hour city and feeling like a pandemic scapegoat. “Gosh, how long have you got?” Lamé says with a laugh, when asked what the biggest challenge facing London’s night time economy is currently, in a bustling Soho coffee [...]
