London’s FTSE 100 kicks higher ahead of Truss energy package September 8, 2022 London’s FTSE 100 kicked higher today after new prime minister Liz Truss launched an around £130bn cost of living support package. The capital’s premier index climbed 0.33 per cent to 7,262.06 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.36 per cent to [...]
Economists warn UK to face blackouts under Liz Truss energy plan September 8, 2022 Economists today warned prime minister Liz Truss’s decision to freeze energy bills for everyone in the UK at £2,500 raises the risk of blackouts. Experts at the economic think tank the Institute for Fiscal Studies (IFS) said energy supplies may run dry due to the government propping up energy spending. “Households, businesses or governments… will [...]
Travel businesses need to be eligible for government energy cap September 8, 2022 Travel businesses should be eligible for the government’s cap on energy bills, according to travel association ABTA. ABTA, which represents UK travel agents, said the sector should receive financial support as it is heading into the low travel season with many companies still recovering from the pandemic’s impact. “With a fiscal statement expected later this [...]
Govia Thameslink staff balloted by TSSA union over possible fresh strike action September 8, 2022 Govia Thameslink train staff are to be balloted for industrial action in protest of pay, conditions and redundancies. Rail union TSSA will open ballots for hundreds of its members working at Govia Thameslink Railway, which includes four key franchises. Results of the ballot will be announced on 6 October and could impact Thameslink, Southern, Great [...]
Solve the housing crisis and net zero? Your home might be built Ikea-style September 8, 2022 If you find yourself on a walk in West Hampstead, it’s worth checking out a two-bedroom apartment called Camden Passivhaus. With its wooden exteriors, it is simple and elegant – a small gem hidden among terrace houses. It’s the first net zero house in the UK – meaning there were no emissions produced during its [...]
New justice secretary Brandon Lewis faces calls to ‘open negotiations’ with barristers September 7, 2022 Former secretary of state for Northern Ireland Brandon Lewis is set to succeed Dominic Raab as the UK’s new justice secretary. The 51-year-old MP for Great Yarmouth is set to face immediate pressure from striking barristers following calls from the chair of the Criminal Bar Association for “substantial positive movement” from the government. The appointment [...]
North Sea body and unions warn offshore workers against wildcat strikes September 7, 2022 The UK's leading North Sea body has warned against wildcat strikes tomorrow, as have unions including GMB, RMT and Unite.
Truss confirms opposition to energy windfall tax to fund £100bn+ package September 7, 2022 Liz Truss has confirmed she will not slap a new tax on North Sea oil and gas producers to pay for her £100bn+ package of support to households and businesses. Labour leader Sir Keir Starmer said during Prime Minister’s Questions (PMQs) that Truss’ plan to increase borrowing to fund the emergency package is akin to [...]
UK’s cost-of-living crisis is driving uptick in scams, FCA exec warns September 7, 2022 A top executive at the UK’s financial watchdog has said the country’s cost-of-living crisis risks driving an uptick in financial crime. In a speech at the Financial Crime Summit, Financial Conduct Authority (FCA) executive director Sarah Pritchard said “we are already seeing more scams,” as she warned financial crime is set to become “even more [...]
Almost half of Brits stop saving and paying into pension due to short-term money problems September 7, 2022 Almost half of Brits have stopped saving, investing and paying into pensions because of short-term financial pressures. With soaring inflation, rising interest rates and an impending increase in energy bills, 46 per cent of those polled by NerdWallet say they’ve cut back on long-term money planning. Among those who are cutting back, 43 per cent [...]