Ministers mull bailout of chipmaker Newport Wafer Fab May 29, 2022 The government is considering a taxpayer bailout of British chipmaker Newport Wafer Fab if its sale to a Chinese-owned firm is overturned on national security grounds. Business secretary Kwasi Kwarteng announced this week that he was using new powers in the National Security Act to review the sale of the Wales-based firm by Wingtech subsidiary [...]
Cabinet minister ‘confident’ there was no Number 10 interference in Gray report May 29, 2022 Northern Ireland secretary Brandon Lewis has said he is “confident” there was no Number 10 interference in the Sue Gray report into partygate amid reports to the contrary. The Sunday Times reported today that three senior government officials, including top civil servant Simon Case, lobbied Gray to water down her report on the eve of [...]
RMT union boss says rail strikes now ‘very likely’ May 29, 2022 Widespread rail strikes are now “very likely” to happen soon, according to the boss of the UK’s largest transport union. The National Union of Rail, Maritime and Transport Workers (RMT) boss Mick Lynch said he “can’t see a way out from the strikes at the moment”, after the union voted this week to hit the [...]
UK signs first US state-level trade deal with Indiana May 27, 2022 The UK will today sign its first US state-level trade deal, with an agreement to be inked with Indiana. The “trade and economic development Memorandum of Understanding” with Indiana aims to cut red tape for British firms wanting to trade, or operate, with the Midwest state. The deal will not lower tariffs or quotas on [...]
UK to review Altice’s 18 per cent stake in BT on national security grounds May 26, 2022 The government will launch a national security review into Altice’s 18 per cent stake in BT, business secretary Kwasi Kwarteng announced today. Kwarteng has used new powers as a part of the National Security Act to examine the French telecommunications group’s stake in BT amid speculation that Altice’s chair Patrick Dahi wants to make a [...]
Nadine Dorries launches impartiality review into the BBC May 26, 2022 Culture secretary Nadine Dorries has today launched a charter review of the BBC, which will examine if reforms are needed to ensure greater impartiality at the public broadcaster. The mid-term review of the BBC will examine whether the broadcaster is “delivering for licence fee payers” and “consider if reforms are needed to help it achieve [...]
Sunak hits energy firms with windfall tax to pay for £15bn cost of living package May 26, 2022 Rishi Sunak has hit British oil and gas firms with a 25 per cent windfall tax to pay for a £15bn package to help households with the cost of living crisis. The chancellor’s interventions this year will see every household in the UK given £550 to help pay their energy bills, but with the country’s [...]
UK launches national security probe of Chinese purchase of Welsh chip plant May 25, 2022 The UK has today launched a national security review of a Chinese takeover of a key Welsh semiconductor plant.
Rishi Sunak to outline cost of living help on Thursday May 25, 2022 Rishi Sunak will tomorrow outline a multi-billion pound package to help Brits with the cost of living squeeze, with rumours rife the chancellor will hit UK oil and gas firms with a windfall tax. City A.M. understands that Sunak will deliver an “economy update” to the House of Commons, which will see up to £10bn [...]
Sue Gray report: Johnson says UK must ‘move on’ as he takes ‘full responsibility’ for partygate May 25, 2022 Boris Johnson has said now is the time to “move on” from the partygate scandal, after saying he takes “full responsibility” for the brazen Covid rule-breaking uncovered in Sue Gray’s report. The Prime Minister told the House of Commons that he had “no knowledge” that Covid rules were broken on eight occasions, as deliberated by [...]
