Sunak praises North Sea oil and gas industry despite imposing windfall tax June 22, 2022 Rishi Sunak has reaffirmed his support for the North Sea oil and gas industry, labelling it “the foundation of the UK’s energy supply/"
Supreme Court ruling paves way for 5G coverage expansion in the UK June 22, 2022 The Supreme Court handed down a fresh ruling this morning that makes it easier for telecommunications firms to deploy 5G infrastructure in the UK.
Boots’ sole suitor rallies lenders as takeover concerns linger on June 22, 2022 Boots’ sole bidder is relying on four major lenders to get its £5bn-plus takeover closer to the finishing line. As first reported by Mark Kleinman for Sky News, the consortium of Apollo Global Management and Reliance Industries are pinning their hopes on Royal Bank of Canada, Credit Suisse, Santander and Bank of America to finance [...]
Bank of England official compares crypto crash to dotcom bubble June 22, 2022 The Bank of England’s Deputy Governor has compared the recent crypto crash to the dotcom bubble more than two decades ago. Jon Cunliffe said those that survived the crash could become the technology companies of the future and rival the likes of tech giants Amazon. “The analogy for me is the dotcom boom, when $5 trillion was [...]
London business groups: TfL funding deal ‘vital’ to capital’s economy as Khan warns on ‘managed decline’ June 22, 2022 LONDON business groups, think-tanks and property firms have warned the capital’s transport network needs a long-term funding settlement from central government or risk ‘decades’ of damage. Transport for London’s (TfL) latest emergency bailout with the Department for Transport runs out Friday – risking what the network’s chiefs have described as “managed decline” of the service. [...]
Lawyers say ‘Bill of Rights’ will make government less accountable June 22, 2022 Lawyers have hit out at the government’s plans to scrap the Human Rights Act, over claims it is an attack on the rule of law that risks undermining Britain’s international reputation. Law Society president I. Stephanie Boyce said the plans risk ruining Britain’s reputation “with trade partners, business, and in the international arena,” as [...]
‘Kremlin will be enjoying this self-inflicted distraction. Don’t be Russia’s friend’, Tobias Ellwood urges train strikers June 22, 2022 Former defence minister Tobias Ellwood has warned striking rail union workers not to be “Putin’s friend”. The former soldier and Tory MP for Bournemouth East said the Kremlin would be “enjoying this self-inflicted distraction” from its war against Ukraine. This comes after thousands of rail workers walked out across the country on Tuesday, with two [...]
Inflation bump sends chill through London’s FTSE 100 June 22, 2022 London’s top indexes slumped today as investors fretted over the damage further inflation surges could deal the UK economy. The capital’s premier FTSE 100 index slid 0.88 per cent to 7,089.22 points, while the domestically-focused, mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.31 per cent to [...]
Credit Suisse and Citco face £430m lawsuit over Chelsea property deal that lost Vatican £100m June 22, 2022 The filing of a €500m (£430m) lawsuit against Credit Suisse and Citco over the loss of millions in charitable funds through a Chelsea property deal has led to calls for greater transparency around the “origins of money used to purchase high-value property” in Britain. The calls come after Anglo-Italian financier Raffaele Mincione’s WRM Group filed [...]
Ofgem risks over-regulating energy sector in favour of ‘turgid incumbents’ warns Octopus June 22, 2022 Ofgem runs the risk of "handing the market back to turgid incumbents" by over-burdening the energy sector with regulations, warned Octopus.
