Twitter owner Elon Musk to be invited to government investment summit August 22, 2023 Twitter owner Elon Musk is among top business leaders expected to be invited to Rishi Sunak’s global investment summit this autumn. Tesla boss Musk – who recently bought and renamed Twitter as X – is among figures including Amazon founder Jeff Bezos who officials are keen to see attend the summit, according to Sky News. [...]
Government borrowing: Another new debt record as interest hits July high making pre-election tax cuts unlikely August 22, 2023 The interest paid on government debt hit its highest July level on record as government borrowing continued to rise, albeit significantly less than expected.
Complacent or cautious? City grandees divided on Government’s Square Mile cheerleading August 22, 2023 City grandees are divided about the pace and scope of the government’s reforms to capital markets, as pressure grows to boost the UK’s financial hub quickly. Responding to growing concerns around the state of London’s capital markets, the government has launched a slew of reviews designed to reinvigorate the City. City minister Andrew Griffith claimed [...]
The Notebook: Victoria Scholar on falling house prices, global travel’s acceleration and Netflix’s Sackler drama August 22, 2023 Today, Victoria Scholar, head of investment at Interactive Investor, takes the City A.M. notebook pen The only thing being built is negative momentum Rising interest rates, high inflation and the cost of living crisis are starting to take a serious toll on the UK housing market. Just this week, data from Rightmove pointed to a [...]
London’s finance industry a ‘jewel in Britain’s crown’ despite concerns over City’s future, Griffith says August 21, 2023 City minister Andrew Griffith said the financial services industry was still a “jewel in Britain’s crown that even the doomsters cannot deny” after jobs in the finance sector hit a record high. Figures out last week showed that the number of jobs in financial services climbed to a record high of 1.2m in the first [...]
UK spent over £46m on Australia and New Zealand trade deals August 20, 2023 The UK government spent more than £46m on negotiating just two trade deals last year, it has been revealed. Ministers shelled out £46.2m during 2022-23 securing and implementing new trade deals with Australia and New Zealand, according to a recent parliamentary written question. Concerns have been raised over the expected benefit from the Australian and [...]
ULEZ camera vandalism ‘will not stop’ London expansion despite 300 incidents this month August 18, 2023 Transport for London (TfL) vowed that vandalism of ultra-low emission zone (Ulez) cameras “will not stop” the scheme’s expansion. The transport body issued the statement after the Metropolitan Police said it had recorded 288 crimes relating to the cameras as of August 1, and released an image of a suspect. The BBC said there had [...]
Australia’s blocking of Qatar airways is a parable in anti-competitive intervention August 18, 2023 With such strong demand for travel to Australia, extra Qatar airways flights would mean more competition and a dent in Qantas’ record profits - something the Australian government wants to block.
How is Sunak doing on halving inflation, cutting NHS lists and stopping boats? August 16, 2023 In January, Rishi Sunak unveiled the vision for his government. Five pledges; five clear goals; five ambitions for his ministers. His aim was clear: be seen as an effective, solutions-focused administration and, hopefully, reap the electoral rewards. “No tricks, no ambiguity; we’re either delivering for you or we’re not,” he vowed. Eight months in, and [...]
How Brexit killed the seasonnaire – and why travel firms can’t recover August 15, 2023 A winter of work and play used to be a coming of age for thousands of Brits, but Brexit has wiped out the seasonnaire