Harbour Energy warns raising windfall tax could risk UK investments November 3, 2022 Harbour Energy has warned it will have to reconsider investments in the UK, if the windfall tax is further expanded.
Bank of England delivers largest rate hike since 1989 and signals more to come November 3, 2022 The Bank of England today hiked interest rates by the largest amount since 1989 and signalled more rises are coming. The Bank’s rate setting committee voted unanimously to lift borrowing costs 75 basis points to three per cent, the highest level since 2008 and the eighth rise in a row. The pound shed more than [...]
British companies are failing to keep up with criminals, in-house lawyers warn November 3, 2022 In-house lawyers working in major British companies are becoming increasingly concerned that the firms they work for are failing to keep up with the methods being used by criminals to carry out financial crime. More than two-thirds of in-house lawyers surveyed by law firm Ashurst said they have concerns about their companies’ abilities to keep [...]
Exclusive: City grandee to step down as Tory party Treasurer November 3, 2022 Malik Karim, the founder and CEO of Square Mile investment banking firm Fenchurch Advisory, is to stand down as Treasurer to the Conservative party. City A.M. understands Karim will become an advisor on fundraising to the new Tory party chairman, Nadhim Zahawi, Karim, who founded Fenchurch in 2003, served as the party’s treasurer for just [...]
UK investors pulled £7.6bn from funds in mini-budget turmoil November 3, 2022 UK investors yanked £7.6bn from funds in September as markets were rocked by the fallout of the government’s disastrous mini-budget, new data has revealed.
Time for celebrations? Mars trials Bounty ban for Christmas November 3, 2022 With Christmas rapidly approaching, Mars Wrigley has removed the controversial coconut Bounty from celebrations boxes. The popular assortment of chocolates will be without the blue-wrappered treat after research showed 40 per cent of Brits want it barred permanently. No Bounty Celebrations will be available at 40 Tesco Christmas Market locations s from 8 November until [...]
300-year-old Marylebone estate Howard de Walden enters co-working market November 3, 2022 A 300-year-old estate that owns Marylebone is making an entrance in to the co-working sphere after office rental income dropped last year. Howard de Walden, which is worth about £5bn, is partnering with Spacemade to operate a flexible working facility in the area of central London. It made the move after its results showed permanent [...]
UK economy headed for record recession if rates rise sharply, BoE warns November 3, 2022 The UK economy is on course to suffer the longest recession since records began if interest rates rise sharply, triggered by a toxic mix of higher mortgage costs, prices and energy bills, the Bank of England said today. Gross domestic product (GDP) will shrink for 24 consecutive months, beginning in the early stages of next [...]
Uniper suffers eye-watering £35bn losses after Russian gas cuts November 3, 2022 Uniper has suffered the biggest net losses in German corporate history over the first nine months of 2022, following a Russian supply squeeze.
Life Science property trust to trade up AIM for London’s main market November 3, 2022 Life Sciences Real Estate Investment Trust is set to trade up the AIM to list on London’s main market. Bosses at the trust said the move is in the “best interests” of the company and shareholders, after the pandemic threw life sciences into the top ranks of investor and government interest. It means the [...]
