Ford picks Spain over Germany for EV plant but warns of job cuts June 22, 2022 Ford has picked Spain over Germany to produce electric vehicles (EVs) but has warned of “significant” job cuts ahead. The US car maker said today EV production at its Valencia plant will begin later this decade, but it will imply redundancies both at the Spanish plant and at the marquee’s facility in western Germany. The [...]
US Fed chief Powell warns higher rates may tip economy into recession June 22, 2022 The chief of the US Federal Reserve has warned it may hike interest rates to a level that tips the economy into a recession. “It’s certainly a possibility” that a rapid tightening of monetary policy will force the US economy into reverse, Fed chair Jerome Powell said today in response to a grilling by American [...]
Biden urges Congress to put petrol tax on hold as pump prices spike to record highs June 22, 2022 US President Joe Biden has called on Congress to pass a three-month suspension of the federal gasoline tax to help combat record pump prices.
IEA urges Europe to secure supplies amid warnings Russia could cut off gas flows June 22, 2022 The head of the International Energy Agency Fatih Birol has urged Europe to secure its own energy supplies this winter.
Londoners rely on e-bikes and scooters as strikes bring capital to standstill June 22, 2022 The number of Londoners using cycle and e-scooter hire schemes as well as ride-hailing apps surged on Tuesday after the combination of tube and railway strikes brought the capital to a standstill. According to Transport for London (TfL) figures, bike hires more than doubled yesterday, going from an average of 27,000 to 67,000 in what [...]
Rayner demands records of PM’s meetings over bankers’ bonus cap June 22, 2022 Deputy Labour leader Angela Rayner has demanded Boris Johnson’s office release all details of meetings he has held to discuss the bankers’ bonus cap over the past year. Rayner wrote to Johnson’s chief of staff Steve Barclay to request details of a meeting Johnson held with City figures last year where, according to the Financial [...]
UK factories hit by fastest cost rise since 1980s June 22, 2022 The price of materials used by UK factories are rising at the fastest pace on record in a sign that consumers could soon be spiked by a further inflation surge, fresh figures published today reveal. Input prices soared just over 22 per cent over the year to May, the fastest acceleration since the Office for [...]
Tether reveals stablecoin plans for GB Pound June 22, 2022 Hong Kong-based Tether has revealed it will launch a British Pound Sterling form of its stablecoin, pegged to the pound.
First in 40 years: Investigation underway after polio detected in London sewage system June 22, 2022 The country has been placed on alert after polio was detected in London sewage despite the country having been free of it since 2003. The UK Health and Security Agency said it is investigating after poliovirus samples were found at London Beckton Sewage Treatment Works. It is working with the Medicines and Healthcare products Regulatory [...]
B2B buy-now pay-later firm Playter eyes international push after $55m funding injection June 22, 2022 London-based buy-now pay-later firm Playter said it is eyeing up new international markets with its B2B product today after announcing a $55m funding injection.
