BP’s profits bonanza reignites windfall tax debate with energy bills set for painful spike this winter August 3, 2022 BP unveiled bumper profits powered by soaring oil and gas prices yesterday, as households brace for painfully high energy bills this winter.
UK to pay business bodies to seal global mutual recognition deals for City firms August 3, 2022 The UK government will pay business bodies to broker deals in foreign countries to allow City workers to more easily work overseas post-Brexit. The new Recognition Arrangements Grants Programme will see payments of up to £75,000 given to professional bodies and regulators, for industries such as accounting and legal services, to pursue mutual recognition of [...]
Rare admission: Jacob Rees-Mogg says he was wrong to claim there would be no Brexit delays in Dover August 2, 2022 It was wrong to state there would be no delays at Dover caused by Brexit, Jacob Rees-Mogg said this morning. The Brexit opportunities minister was adamant in the past that any backups when crossing the Channel would be witnessed in Calais But after holidaymakers faced chaos on gridlocked roads on the British side of the [...]
Tory leadership: Sunak attacks ‘one sided’ trade deals signed by Truss August 1, 2022 Rishi Sunak tonight launched an attack on post-Brexit trade deals signed by Liz Truss as he tried to woo rural Tory members. Sunak labelled the Australia and New Zealand trade deals negotiated by Truss when she was trade secretary as “one sided” during a hustings event in Exeter, while adding that the UK “shouldn’t be [...]
Economic downturn pummels UK factories August 1, 2022 UK factories are succumbing to a concoction of downside risks that have shifted the sector into “reverse gear,” a closely watched survey published today revealed. Activity in the British manufacturing sector last month plunged to a 25-month low of 52.1, down from 52.8 in June and slightly below analysts’ expectations, according to S&P Global’s purchasing [...]
Travel and tourism vacancies threaten UK economic recovery August 1, 2022 The UK’s economic recovery is being threatened by significant vacancies in the travel and tourism sector. According to a report published today by the World Travel and Tourism Council (WTTC), 128,000 industry jobs go unfulfilled in Britain, with one in 14 jobs remaining vacant. Figures revealed that the UK’s hotel industry was the worst hit [...]
Businesses’ needs forgotten as Truss and Sunak up anti-immigration rhetoric August 1, 2022 As ballots start to land on the doormats of Conservative party members this morning, Liz Truss and Rishi Sunak have entered into what has been branded an “arms race” to tackle illegal migration. Both are playing a game of one-up-manship on who will limit the most people coming into the UK across the Channel. The [...]
UK services hamstrung by ‘bizarre’ neglect in trade policy, lobby group says July 28, 2022 The UK’s services sectors are being hamstrung by political neglect and a lack of attention in trade policy, a top City group warned today.
Outgoing CMA chief still has ‘anxiety’ about the path of competition regulator July 28, 2022 Outgoing chief of the competition watchdog Andrea Coscelli has said he still has “anxiety” about the UK’s regulatory position.
US ambassador enters Brexit snakepit: ‘Everybody has to give a little for the sake of Northern Ireland’ July 28, 2022 Jane Hartley, the US ambassador to the UK, has joined the Brexit debate by calling for further negotiations to find a way to make the Northern Ireland Protocol work. Jane Hartley said indecision is “never a positive” when it comes to economic investment, as she spoke of the importance of finding a resolution to the [...]