Explainer: What’s going on with Farage’s bank account July 20, 2023 Coutts, a prestigious private bank owned by Natwest, is under pressure after it emerged that Nigel Farage’s bank account had been closed, ostensibly for his political opinions alone. The story has caused a furore and, with politicians wading in, it could even spark a set of new rules which would prevent banks ‘debanking’ customers with [...]
Anti-strikes bill becomes law as unions vow to fight it ‘tooth and nail’ July 20, 2023 A law has been passed to curb the effect strikes can have on some key services. The Strikes (Minimum Service Levels) Act has been granted Royal Assent, having cleared both Houses of Parliament after a protracted battle over its impact. The law will allow ministers to impose minimum levels of service during industrial action by [...]
Ofcom warns mobile phone companies over pricey overseas charges July 20, 2023 Ofcom has proposed a set of new rules that would force mobile phone companies to tell customers when they are using potentially expensive texts, data and calls abroad. The telecoms regulator said that while many mobile phone operators already do, it is planning to make it obligatory for them to text customers when they travel abroad. [...]
Jaguar Land Rover confirms Mardell as new chief executive July 20, 2023 Jaguar Land Rover has appointed interim chief executive officer Adrian Mardell to the top job permanently, the company announced today. Richard Molyneux, who has served as acting chief financial officer since December, has also been permanently appointed to his role. Jaguar veteran Mardell, who was previously the firm’s CFO, was appointed as interim boss last [...]
City firms feel the pinch as FCA ramps up action July 20, 2023 The Financial Conduct Authority has tightened the screws on City firms over the past 12 months as it shut off nearly 30 per cent more companies than the previous year.
Toast of London! Archax celebrates ISO Award July 20, 2023 FCA regulated digital asset exchange Archax is toasting the award of its ISO 27001 certification.
Explainer: What of Ukraine’s grain now? July 20, 2023 First, Russia pulled out of the grain deal which had been guaranteeing safe exports of Ukrainian grain through the Black Sea. Moscow then started attacking grain terminals and port infrastructure in Odessa, one of the major ports in Ukraine. Missile attacks so far have destroyed around 60,000 tonnes of grain. Joseph Borrell, the head of [...]
Former PM Liz Truss supports second backbench revolt over onshore wind July 20, 2023 The government is bracing for a fresh attempt from Conservative backbenchers, including former Prime Minister Liz Truss.
Monarchy’s funding recalculated after boost to Crown Estate’s revenue from wind farm deals July 20, 2023 The Sovereign Grant – which is used to fund the monarchy’s official duties – will make up just 12 per cent of the Crown Estate’s net profits next year, down from 25 per cent, the Treasury has announced. The change has been introduced following a significant boost in the Crown Estate’s profits from offshore wind [...]
Lotus Cars to slash 200 jobs amid heavy annual losses July 20, 2023 Lotus Cars will cut up to 200 jobs from its workforce as it looks to restructure its business following huge losses announced earlier in the week. Lotus – who are owned by the Chinese carmaker Geely – reported pretax losses of £141.1m for 2022 on Monday, largely as a result of supply chain issues. In [...]
