UK services hamstrung by ‘bizarre’ neglect in trade policy, lobby group says July 28, 2022 The UK’s services sectors are being hamstrung by political neglect and a lack of attention in trade policy, a top City group warned today.
Hefty £1.5bn trading error legal charge erodes Barclays profits July 28, 2022 A £1.5bn legal charge for a trading error has eroded British bank Barclays’s profits, it announced today. Hefty litigation and regulatory costs to deal with selling too many financial products dealt a major blow to Barclays’s first half earnings. Pre-tax profits dropped by a quarter to £3.7bn in the six months to June, down from [...]
Upbeat earnings fail to turn investors’ eyes from steep US technical recession July 28, 2022 A string of upbeat earnings was not today enough to cushion City investor jitters over a slowdown in the US economy. London’s premier FTSE 100 index dipped 0.04 per cent to 7,345.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.1 per cent [...]
Lithium battery maker to build £190m megafactory in the UK in global EV push July 28, 2022 Lithium battery maker AMTE Power is set to build a so-called megafactory in the UK, in a bid to build on “a strong heritage of innovation” in the country as opposed to mainland Europe, which has equally attractive financial incentives. The London-listed firm, which also makes sodium batteries to store renewable energy, saw shares surge [...]
Cost of living crisis prompts almost a third of UK workers to take second job July 28, 2022 Nearly third of workers in the UK are seeking to work two jobs to support themselves as the cost of living crisis sends prices of essentials soaring. 32 per cent of workers are aiming to take on a second job in addition to their current job to make more money, a national survey of 2000 [...]
Bulb Energy warns customers over extra charges ahead of painful price cap hike July 28, 2022 Customers of collapsed energy firm Bulb Energy have been warned they will face extra charges if they are unable to pay their bills.
Outgoing CMA chief still has ‘anxiety’ about the path of competition regulator July 28, 2022 Outgoing chief of the competition watchdog Andrea Coscelli has said he still has “anxiety” about the UK’s regulatory position.
The Metaversal evolution will not be centralised July 28, 2022 Web3 is Metavolutionary Some have questioned whether Web3 offers much in the way of utility. Web3 is the build-out platform for evolutionary economic and governance models. For a Web3 company to succeed, it not only needs a great product, an established userbase, but also an attack-resistant system of governance. While there will be plenty of [...]
Money launderer jailed for nine years over scheme to smuggle £104m to Dubai July 28, 2022 The head of a money laundering operation, that saw millions smuggled out of Heathrow airport in suitcases and sent to Dubai, has been jailed for nine years. Emirati national Abdullah Mohammed Ali Bin Beyat Alfalasi, 47, ran a scheme that saw cash believed to be profits from drug dealing, collected from criminal groups across Britain [...]
Total Energies records profit surge as commodities boom but disappoints with lean dividends July 28, 2022 Total Energies has posted a sharp surge in second-quarter profits, powered by soaring oil and gas prices following Russia's invasion of Ukraine.
