TfL ask for more time to look at “very complex” Whitehall funding arrangement July 27, 2022 TRANSPORT for London chiefs have asked for more time to look at the detail of a long-term funding deal from central government. Late last Friday evening the Department for Transport sent the body a proposal which would bring to an end a series of temporary bailouts and fraught negotiations, but TfL commissioner Andy Byford yesterday [...]
Exclusive: Pro-democracy activist Nathan Law labels HSBC a ‘cheerleader’ for Chinese Communist Party July 27, 2022 HSBC is “cheerleading” for the Chinese Communist Party’s (CCP) campaign to strip away Hong Kongers’ human rights, Nathan Law, a pro-democracy activist, told City A.M. today. Law, a former member of Hong Kong’s parliament, accused Britain’s largest lender of putting profits ahead of taking a stand against Beijing eroding the city’s citizens’ freedoms through the [...]
Litigation funder Therium poaches lawyers from top firms as it seeks to build up record lawsuit war chest July 27, 2022 Litigation funder Therium Capital today said it had recruited four new lawyers from some of London and New York’s top firms, as it prepares to raise its largest war chest yet. The firm has brought on board two new London lawyers – ex-Slaughter and May associate Chris Wilkins and ex-Michelmores associate Charlie Temperley – [...]
Powell invokes Volcker spirit with second successive 75 point hike July 27, 2022 The US Federal Reserve today doubled down on its efforts to chase down the biggest inflation shock in recent memory by hiking rates 75 basis points for the second time in a row. Chair Jerome Powell and the rest of the federal open market committee backed another big rise to cool America’s overheating jobs market [...]
Cryptocurrencies continue to struggle July 27, 2022 In association with Luno. Bitcoin’s (BTC) recent strong momentum stalled in the middle of last week, and the price has been drifting back towards the $20k mark after hitting highs above $24k last week. The leading cryptocurrency by market capitalisation has hovered around $21k since Monday, down almost 10 per cent over the past 7 [...]
Crypto crash does not have major impact on broader financial systems, says IMF July 27, 2022 The sell-off in the crypto market does not have a major effect on global financial conditions, the International Monetary Fund wrote in a report this week. “Crypto assets have experienced a dramatic sell-off that has led to large losses,” the IMF’s World Economic Outlook Update for July 2022 stated. “But spill overs to the broader [...]
Airbus adjusts jet delivery target as plane maker faces supply chain woes July 27, 2022 Airbus has adjusted its annual jet delivery forecast while it continues to battle supply chain woes. In its quarterly results, the EU plane maker lowered the year’s goal from 720 to 700 jets, adding it will reach its monthly production target of 65 narrow-body jets in 2024 instead of the summer of 2023. Its 2025 [...]
Rio Tinto slashes dividend in half as cooling iron ore demand weighs down profits July 27, 2022 Rio Tinto has suffered a 29 per cent drop in profits during the first six months of trading this year, amid weaker prices for iron ore.
Labour sacks shadow transport minister who defied Starmer and joined picket line July 27, 2022 Labour has sacked shadow transport minister Sam Tarry from its front bench after he defied Sir Keir Starmer’s order not to join a picket line. The disciplinary action comes as 40,000 RMT Union members at 14 unions walked out today and tomorrow over pay and conditions. A Labour Party spokesperson said the decision “isn’t about [...]
European gas prices close in on record highs as Russia cuts flows into Nord Stream pipeline July 27, 2022 European gas prices are closing in on record highs, after Russia followed through on its threat to further cut gas supplies into the troubled continent.
