Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn July 1, 2022 Russia’s President Vladimir Putin has ordered the seizure of a gas facility in the county which UK firm Shell has a 27 per cent stake in. The Kremlin signed a decree to take control of rights of the Sakhalin-2 plant, which will be transferred into Russian hands. This comes as Moscow continues to come under [...]
Taxpayers to foot extra £27.3m bill for Royal Family even as cost of living soars July 1, 2022 UK taxpayers will pay an extra £27.3m over the next two years for the Royal Family even as a cost of living crisis grips the country. The additional amount is to help the Royal Family meet expenses after a drop in profits at the Crown Estate, Bloomberg reported on Thursday. The Royals spent £102.4m in [...]
Shares plunge for Aston Martin after car maker said it was considering all options amid Saudi funding rumours July 1, 2022 Shares in luxury carmaker Aston Martin plunged 14 per cent yesterday after it said it was considering options after rumours that Saudi Arabia’s sovereign wealth fund was eyeing an investment. As first reported by trade publication Autocar, Aston Martin is considering sale of equity in return for an infusion of as much as £200m. It [...]
Longer and more frequent ads: Ofcom weighs up advert rules as the UK eyes American model to stay competitive July 1, 2022 Ofcom said it may extend the time and frequency allowed for advertising breaks on UK TV as the watchdog eyes up an American-style model. As part of a review of broadcasting rules, the change could mean Brits have to see more ads, with less time in between them. Current rules set by Ofcom mean that [...]
Business rates have made American candy stores a blight on our streets July 1, 2022 The emergence of large numbers of American-styled candy stores across the West End over the last year has become a cause for concern amongst high street retailers, leisure businesses and hospitality owners alike. Having weathered the storms of the pandemic, which saw footfall and revenues plummet during lockdowns, the West End was beginning to show [...]
Britain could be stuck with an outdated telecoms industry without a plan for 5G July 1, 2022 The enormous benefits of full 5G are clear. Developing high capacity, standalone infrastructure promises to be a gamechanger for our transport network, for industrial settings such as smart factories, and for public services such as hospitals. What is less clear at present is whether the UK will get to feel the full benefits of the [...]
Britain needs to respond to the ‘kindness of strangers’ July 1, 2022 Britain has always been an attractive place for investors to park their money. The country’s economic dynamism has helped it pull in billions of pounds of investment, mainly toward its world-leading services industry and financial services businesses. Although the City’s banks, insurers and brokers have contributed a great deal to UK growth, the country is [...]
China has failed to live up to its promise to Hong Kong, but Britain must not follow July 1, 2022 When Chris Patten, the last British governor of Hong Kong, bowed out of the territory for the last time at midnight on July 1, 1997, he departed with the hopeful promise that “now, Hong Kong people are to run Hong Kong.” Twenty-five years later, that dream has been irrevocably dashed by the Chinese Communist Party [...]
Letters: Grappling with dirty money July 1, 2022 [Re: Credit Suisse becomes first Swiss bank to be convicted in Switzerland’s own courts, June 27] The FCA is concerned crypto firms don’t have the adequate processes in place to identify and prevent money flows into illicit activities, from money laundering to terrorist financing. While the FCA’s concerns are warranted, we should not see this [...]
Mortgage costs expected to grow by another £2,500 as inflation spirals July 1, 2022 The cost of a mortgage is expected to grow by another £2,500 by the end of this year, in comparison with December 2021, according to property site Zoopla today. Economists anticipate “sharp” hikes to mortgage rates in the coming months, as the Bank of England seeks to tame spiralling inflation, which is already at 9.1 [...]
