UK prepares to simulate supply crunch as challenging winter looms August 7, 2022 The UK is preparing to simulate a gas supply crisis, to test how resilient the energy system is in the case of emergency shortages this winter.
Truss hasn’t ruled out emergency cash payments, says ally Penny Mordaunt August 7, 2022 Liz Truss has not ruled out giving Brits cash payments later this year to combat the cost of living crunch, Penny Mordaunt has said. The senior Truss ally, and fallen leadership contender, today said that people had been “overinterpreting” comments made by the foreign secretary this weekend about her policy plans. Truss told the Financial [...]
Bus drivers join ‘summer of discontent’ and announce strike for 19 and 20 August August 7, 2022 London bus drivers have joined the UK’s “summer of discontent” and announced a strike for 19 and 20 August following a dispute over salaries. The union Unite said more than 1,600 of its members working for bus operator London United will join the walkout after the company’s parent, RATP Dev Transit, offered a 7.8 pay [...]
US Federal Reserve’s rate hike cycle takes centre stage in investors’ minds August 7, 2022 Investors are grappling with a mix of challenges they have not faced in years. Tighter monetary policy. Sky-high inflation. Strong geopolitical tensions. These factors have driven volatile swings in asset prices. Usually in times of uncertainty, investors pile into the US dollar and American assets. And that is exactly what they are doing now. US [...]
EY carve-up decision delayed as partners mull plans August 7, 2022 The planned break-up of ‘Big Four’ firm EY has been pushed back to the end of the year as bosses mull the practicalities of proposals to carve up its consultancy and audit practices, according to reports.
Worst is over for Lufthansa, says board member August 7, 2022 The worst is over for German airline Lufthansa after staff shortages caused flight chaos over the summer, but levels of sick leave remain challenging, board member Christina Foerster told newspapers in the Funke Media group. Airlines across Europe have struggled to cope with a strong rebound in holiday season demand after the COVID-19 pandemic stopped much [...]
Environment secretary calls for widespread hosepipe bans August 7, 2022 More widespread hosepipe bans should be enforced by water firms across England as fears grow about a potential drought in the South, according to the UK’s environment secretary. George Eustice today said it was “right” firms had already taken action and introduced water restrictions, while calling for further interventions. Last month was the driest July [...]
Government launches security investigation into National Grid pipeline sale August 7, 2022 The Government has launched an investigation into the overseas takeover of the UK's main natural gas pipeline.
Vue cuts valuation to £650m after July’s restructuring deal August 7, 2022 Vue International has cut its valuation to £650m following a £1bn restructuring deal announced last month. The UK-headquartered cinema chain said in July it was considering a £1bn takeover from lenders which would see its former majority shareholders ousted, the Sunday Times reported. As part of the takeover, the cinema chain also negotiated its exit [...]
Gordon Brown says UK needs emergency budget to combat ‘financial timebomb’ August 7, 2022 The government needs to set an emergency budget or millions of Brits will face “a winter of dire poverty”, according to Gordon Brown. The former Prime Minister today said families are facing a “financial timebomb” in October as inflation continues to climb and Ofgem prepares to lift the energy price cap again. There are fresh [...]
