Russia hit by drone attacks as Ukraine fights back with buildings hit miles from the Kremlin July 31, 2023 Ukraine attacked Russia with drones on Sunday, damaging two office buildings just miles from the Kremlin and a pig-breeding complex on the countries’ border. The attacks, which Ukraine did not acknowledge in keeping with its security policy, reflected a pattern of more frequent and deeper cross-border strikes the Kyiv government has launched since starting a [...]
Sunak bids to woo North Sea industry with hundreds of new oil and gas licences July 31, 2023 Sunak has pledged hundreds of new oil and gas licences, two new carbon capture clusters and review on the sector's tax regime
Vanquis Banking Group acquires Dame Jane-Anne Gadhia’s fintech AI app Snoop July 31, 2023 Vanquis Banking Group has announced the acquisition of the fintech firm Snoop for an undisclosed sum. Snoop, founded by Dame Jayne-Anne Gadhia in 2019, provides its customers with “personalised insights” by using AI and open banking data to help them manage their finances. Gadhia was formerly boss of Virgin Money and lead the government’s 2016 [...]
BT appoints first woman boss in 170-year history as Allison Kirkby to continue long-term fibre strategy July 31, 2023 BT has announced a successor for outgoing boss Philip Jansen, as Allison Kirkby, a former chief of Nordic telecoms giant Telia. The ailing British telecoms group appointed its first female boss in its 170 year history, who will take the reins from Jansen starting January 2024 “at the latest”. Jansen will continue to serve until [...]
Pearson profits soars over 50 per cent as AI strategy pays off July 31, 2023 Pearson has posted a strong first half of the year after it has started to embrace Artificial Intelligence in May. The London-based publisher said on Monday that it achieved a 56 per cent increase headline growth, with its adjusted operating profit up to £250m. The listed firm also said there had been 44 per cent [...]
Ofgem risks losing public trust after British Gas’ profit bonanza July 31, 2023 Four years of heavy losses and instability in the energy industry were upended last week when British Gas posted record profits.
UK remains European fintech lead despite major investment slump July 31, 2023 Fintech investment in the UK slumped 57 per cent in the first half of the year as rising rates, high inflation and geopolitical tensions dampened investor sentiment. Total UK fintech investment dropped to $5.9bn (£4.6bn) in the first half of the year, down from $13.8bn in the same period last year, according to data from [...]
Consumer Duty comes into force in biggest regulatory shake-up for a decade July 31, 2023 The City watchdog’s flagship new regulation, the Consumer Duty, comes into force today with experts describing it as the most important regulatory change in a decade. The new principle aims to ensure firms deliver good outcomes for consumers on the quality and price of products and services, and make sure a higher standard of consumer [...]
Bank of England to hike interest rates for 14th time in a row to 2008 high of 5.25 per cent July 31, 2023 The Bank of England this week is tipped to hike interest rates for the 14th time in a row as it extends its fight against roaring inflation. Members of the nine-strong monetary policy committee (MPC) are expected on Thursday to back a 25 basis point increase to the UK’s official interest rate, which would send [...]
Tortilla boss remains ‘quietly confident’ despite investment and Brexit challenges July 31, 2023 The boss of fast-food Mexican chain Tortilla, Richard Morris, has said that soaring costs and a tumultuous two years for restaurants has led the sector to be hit “quite badly” from a lack of investment. Tortilla, which serves lunchtime burritos and salads, floated in 2021 on London’s junior AIM market, as part of a five [...]
