Shell greenlights major new oil field in Gulf of Mexico July 26, 2021 Shell this afternoon gave the green light to a major new oil field in the Gulf of Mexico, its first such project to be approved since a Dutch court ordered the oil giant to cut emissions quicker. At peak production, the field, which is called “Whale”, will provide an estimated 100,000 barrels of oil per [...]
eBay bolsters logistics options for sellers as platform surges with SMEs July 26, 2021 eBay UK has bolstered protections and logistics for its sellers after seeing a 237 per cent surge in new businesses joining the online marketplace giant amid the pandemic. The pandemic pushed many employees into furlough, unemployment and a general revaluation of working life and with many looking for extra income, side-hustles on online platforms took [...]
Boris Johnson and Kenyan president to host global education summit in London July 26, 2021 Prime Minister Boris Johnson will co-host a global education summit with President Uhuru Kenyatta, who arrives in London tomorrow. The summit, which takes place between 28-29 July, aims to raise $5bn to educate children across the developing world over the next five years. The two leaders are expected to discuss the progress across all areas of [...]
Startups urge caution over buy now pay later regulation July 26, 2021 British startups have urged caution over the City watchdog’s plans to regulate the £2.7bn buy now pay later market. The Financial Conduct Authority (FCA) is set to crack down on companies such as Klarna and Clearpay after the number of BNPL transactions across the UK tripled last year. But a lobby group representing startups has [...]
Ian Hudson given four years in prison for fraudulent trading July 26, 2021 The unauthorised financial adviser was sentenced to four years imprisonment today for fraudulently carrying on regulated activities, bringing to a close charges laid by the FCA in May. Ian James Hudson was food guilty of fraudulent trading by Judge Tomlinson at Southwark Crown Court. The length of his sentence is made up of one count of [...]
The Northern Ireland Protocol was only ever a placeholder to get Brexit over the line – now the real work begins July 26, 2021 Mention Northern Ireland to a British politician and he or she will edge towards the door. With some notable exceptions such as John Major and Peter Mandelson, our leaders have tended to regard Northern Ireland as a strange land where normal rules do not apply: sectarian divisions they don’t understand and political parties which don’t [...]
Green economy Spac Spinnaker plots London stock market float July 26, 2021 A special purpose acquisition company (Spac) focused on sustainability and green energy is planning an initial public offering on the London Stock Exchange. Spinnaker Acquisitions — a blank-cheque firm that will target mergers in the green economy — will list in London this week. The company said it will target businesses valued at between £5m [...]
Chinese billionaire Larry Chen takes a hit as Beijing cracks down on private education July 26, 2021 Larry Chen, the founder, chairman and chief executive of Gaotu Techedu, has lost his billionaire status as China imposed a regulatory overhaul on the country’s $100bn private education sector. The Chinese authorities released new regulations banning companies to teach school curriculums in order to make profits, raise capital, or go public, Bloomberg reported today. Chen, [...]
Labour calls for ’employment charter’ to enshrine workers’ rights post-Covid July 26, 2021 Labour has called for a new “employment charter”, which would see workers’ rights enshrined in law from day one in a new job. The party is also calling for a ban on “fire and rehire” practices as a part of the charter, after the practice gained notoriety throughout the pandemic. Under the current legislation some [...]
Ofcom targets Musk’s SpaceX and Oneweb with satellite rule revamp July 26, 2021 Ofcom has outlined proposals for tighter rules on the satellite broadband sector in a move that would impact Elon Musk’s SpaceX and British rival Oneweb. Space X and Oneweb are racing to launch constellations of low-orbit satellites that will provide high-speed broadband services to remote rural locations worldwide. While the systems can bring faster speeds [...]
