Exclusive: Energy price cap is only hurting customers, says Utilita boss August 16, 2022 The price cap is a symbol of regulatory failings across the energy sector, argued Utilita Energy (Utilita) boss Bill Bullen.
MPs call for inquiry into FCA’s handling of Blackmore Bonds scandal August 16, 2022 The UK’s financial watchdog has been accused of failing to intervene in a risky property investment scheme that lost investors millions. MPs have called for inquiry into the UK’s Financial Conduct Authority (FCA) over its handling of the Blackmore Bonds scandal, that saw thousands of ordinary investors lose combined sums of £46m. The MPs’ call [...]
UK’s largest gas storage site could be reopened within weeks to ease winter crisis August 16, 2022 Centrica could pump natural gas into the UK's largest storage facility in a matter of weeks after it was cleared to reopen by inspectors.
Over half of money managers bet on global recession this year August 16, 2022 Over half of investors are fretting over the global economy tumbling into recession this year, new figures released today show. Some 58 per cent of money managers think global output will shift into reverse, up from a minority of 47 per cent, according to Bank of America’s latest global fund managers’ survey. The latest reading [...]
Chinese tech giants including TikTok owner reveal algorithms amid scrutiny August 16, 2022 A string of Chinese tech giants have been pushed to share details of their algorithms with Beijing’s cyberspace watchdog amid increasingly scrutiny in China. Some 30 companies, including Alibaba, Tencent and TikTok-owner ByteDance, today had descriptions of their algorithms published by the Cyberspace Administration of China. The Chinese regulator is expected to regularly update the [...]
Harrods threatens to become first major employer to use agency staff as strikebreakers August 16, 2022 The staffing agency industry’s trade body has hit out at Harrods after the luxury department store threatened to take advantage of new laws allowing it to break strikes using temporary workers. Harrods told its staff it is willing to use temporary workers to keep its shop running after employees at the Knightsbridge shop threatened to [...]
Mortgage transactions predicted to drop six per cent in 2022 due to interest rate hikes August 16, 2022 Mortgage activity is set to drop six per cent in 2022 as rising inflation and interest rates put pressure on potential homeowners. Brokers Henry Dannell published figures this week showing the housing market had crashed from the highs of 2021, with interest rates putting off new buyers. Figures precept mortgage activity to contract by six [...]
Australian PM Anthony Albanese says Scott Morrison ‘trashed democracy’ in cabinet scandal August 16, 2022 Former Australian Prime Minister Scott Morrison was guilty of an “unprecedented trashing of our democracy” when he secretly appointed himself to five ministerial roles, according to current PM Anthony Albanese. Albanese said Morrison, who lost this year’s General Election, “deliberately undermined the checks and balances that are so important and essential for our democracy” and [...]
Rumours grow job hunter Boris Johnson will join the Daily Mail after leaving Number 10 next month August 16, 2022 Prime Minister Boris Johnson is reportedly busy job hunting as his time in Number 10 comes to an end. The Guardian reported this week that Johnson, who previously wrote for the Daily Telegraph on a salary of £275,000 a month, is looking for a new gig when he ends his term. In fact, he has [...]
BHP announces record $9bn handout to investors as soaring coal prices fuel profits August 16, 2022 BHP is handing out record sums to shareholders, after the multinational miner delivered bumper profits fuelled by soaring coal prices.
