Consumer Duty: why City firms need to prepare now or face ‘robust action’ May 10, 2023 A clampdown is looming for City firms as the Financial Conduct Authority prepares to roll out its new consumer duty this summer, in the biggest shake-up of consumer protections in over a decade.
Elf Bar warned by advertising watchdog after banning Tiktok vape promotions May 10, 2023 Two Tiktok posts by influencers promoting vapes have been banned for breaking rules prohibiting e-cigarette advertising on social media. The first post from the account @Panaxhe_ shows a young man selecting a blueberry-flavoured Elf Bar for breakfast from a fridge full of the brightly-coloured devices before returning later for a kiwi passion fruit-flavoured vape for lunch. The second showed former Gogglebox [...]
Crypto markets shuffle sideways as traders cautiously await CPI figures May 10, 2023 The price of Bitcoin is holding steady above $27.500 today while Ethereum is trading around $1,840 as investors wait for CPI numbers.
Harbour Energy blames windfall tax for scrubbing out profits as it confirms heavy jobs cuts May 10, 2023 Harbour Energy confirmed it expects to cut hundreds of jobs in the UK ahead of today's AGM, following the effects of the windfall tax.
Virgin Media O2 reports slight bump in revenue after price hikes May 10, 2023 Virgin Media O2 reported a slight increase in revenue in the first quarter of 2023 as a result of price increases and stronger consumer retention. Adjusted quarterly revenue increased by 3.9 per cent on the same period last year to £2.6bn, the company announced today. Adjusted EBITDA for the first quarter increased by 2 per [...]
Cleverly talks down hopes of US trade deal on Washington trip May 10, 2023 Foreign secretary James Cleverly has talked down hopes of a UK-US trade deal during a visit to Washington DC. Speaking in the US on Tuesday, Cleverly said the government was not “prioritising” a free trade agreement (FTA) but aiming for “real economic coordination” with the superpower. His comments came at a press conference with US [...]
Just Stop Oil’s Square Mile slow walk causes chaos as Bank and Moorgate brought to a halt May 10, 2023 Just Stop Oil protestors caused chaos in the Square Mile this morning with a slow walk through Moorgate and Bank, which was eventually broken up by police. The environmental group forced the closure of roads, prevented buses from getting through and led to police officers issuing a Section 12 order, forcing them onto the pavement. [...]
Tui: Shares down as travel giant eyes return to profit with strong summer getaway bookings May 10, 2023 TUI reported its revenues overtook pre-pandemic levels in its half year results this morning, as it cashed in on increased bookings and a boom in summer travel demand. The travel company reported revenues of £2.78bn (€3.2bn), a £870m (€1.bn) improvement on the previous year, with bookings hitting 12.9m across the winter and summer seasons. Losses [...]
International rumblings around regulators’ handling of digital assets May 10, 2023 Lord Holmes of Richmond takes a look at how the US is catching a cold from the UK's sneezes over the regulation of digital assets.
Lord Pannick: Activision hires top KC for £55bn Microsoft takeover legal challenge May 10, 2023 Computer Games company Activision Blizzard has hired Boris Johnson’s former lawyer to represent it in a £55 billion legal battle with the competition watchdog. Lord David Pannick KC, who represented the ex-prime minister through the partygate hearings, will be representing the games giant at a Competition Appeal Tribunal, the Financial Times reported. It comes after [...]
