Expensive repairs and second-hand car costs push motor claims to record £2.4bn in first quarter June 9, 2023 A record £2.4 billion was paid out in motor claims in the first quarter of this year as firms find surging costs increasingly challenging to absorb, according to the Association of British Insurers (ABI). More expensive vehicle repairs, rising second-hand car costs and longer repair times are among the challenges faced by insurers, although there [...]
Sunak and Biden announce UK-US partnership on AI, minerals and Ukraine June 9, 2023 Joe Biden and Rishi Sunak announced their countries would partner on AI, clean energy and critical minerals.
Lifeline for Amigo? Shares in subprime lender rocket on potential investment from shareholder June 9, 2023 Shares in Amigo surged after it agreed an exclusivity agreement with shareholder and financier Michael Fleming, raising the possibility of a debt investment in the subprime lender. Exclusivity agreements mean borrowers can not obtain funds from any other source. Fleming’s period of exclusivity expires on 6 September this year. Its shares were trading over 200 [...]
London bias ‘baked into’ system as MPs warn UK can no longer ‘fly blind’ on attracting foreign investment June 9, 2023 The Government is not doing enough to encourage foreign investment into areas of the UK outside London and the South East, MPs have warned. An economic bias remains “baked into” the system, leaving barriers to the levelling up agenda, the Commons Public Accounts Committee said. The group has told the newly formed Department for Business [...]
Government eases windfall tax to protect North Sea oil and gas projects June 9, 2023 The government has softened the windfall tax in a bid to soothe industry concerns over the UK’s investment climate in the North Sea.
Donald Trump: Former President charged over mishandling classified documents June 9, 2023 Former US President Donald Trump said he has been indicted on charges of mishandling classified documents at his Florida estate. The Justice Department did not immediately publicly confirm the indictment which would ignite a federal prosecution and provide arguably the most perilous of legal threats against the former president. US media outlets said the indictment [...]
Online shopping sales slump to lowest levels since before pandemic June 9, 2023 The cost of living crisis has hindered the online shopping sales boom with digital sales falling to their lowest levels since before the pandemic. The number of online sales fell by 3.3 per cent during May as punters, under the cosh, have had to cut down on the number of goods they buy from digital [...]
Wrightbus secures £50m government-backed loan to boost hydrogen bus exports June 9, 2023 Sustainable bus maker Wrightbus has today secured a £50m government-backed loan to turbocharge exports of electric and hydrogen-powered buses. The agreement will see the UK’s Export Finance (UKEF) agency guarantee 80 per cent of the loan, from Barclays bank. The firm said the backing will allow it to deliver orders to new markets including Germany [...]
Artificial intelligence is bringing about a revolution that the UK shouldn’t try to resist June 9, 2023 Artificial intelligence is creating a divide between life as it was and life as it will be. UK businesses and leaders shouldn't make the common mistake of refraining from it; they should embrace it, writes Chris Hirst
Apple’s virtual reality headset won’t make it to the UK without the right infrastructure June 9, 2023 The virtual reality headset launched by Apple is already making waves. But aside from its price, many in the UK won't be able to access it without a total rollout of full fibre broadband, writes Dan Ramsay
