Rishi Sunak and Sadiq Khan at loggerheads over London housebuilding July 27, 2023 Prime Minister Rishi Sunak has threatened to wade into mayor of London Sadiq Khan’s efforts on housebuilding in the capital. The politicians traded verbal blows today as the PM accused the mayor of failing to build enough homes for Londoners, while Khan branded his claims “desperate nonsense”. Speaking during a visit to a development in [...]
More energy bill support for households will be needed this winter, Cornwall Insight warns July 27, 2023 The government should bring in fresh measures to provide support for customers, warned forecasting group Cornwall Insight.
City workers pocket above average 13 per cent pay rise as financial services jobs tumble July 27, 2023 City workers pocketed an average 13 per cent pay increase when switching jobs over the last quarter, a rise that is above the national average, new research out today shows. Salary increases handed down to new starters at the Square Mile’s banks, brokers and insurers have ebbed over the last year as activity in the [...]
Federal Reserve sends US interest rates to 22 year high in possible final hike July 26, 2023 The US Federal Reserve today launched what many on Wall Street think will be the final interest rate hike in its current tightening cycle. Members of the federal open market committee (FOMC) backed a 25 basis point increase to leave the federal funds rate at a range of 5.25 per cent and 5.5 per cent. [...]
Just Eat CFO steps down as group returns to profit July 26, 2023 Just Eat Takeaway has said its chief financial officer Brent Wissink will step down next May as the group revealed it made a profit in the first half of the year. Wissink, who has been with the company since 2011, will step down in May next year at the company’s AGM to puruse other “opportunities”, [...]
Floating offshore wind ripe for subsidies, Octopus’ renewable boss argues July 26, 2023 The government should target subsidies at emerging technologies where the UK can be a world leader, such as floating offshore wind.
AMTE Power secures fresh £1m loan from investors as it scrambles to avoid administration July 25, 2023 AMTE Power has announced a fresh loan facility from a US asset manager, an eleventh hour lifeline as it scrambles to secure its future.
Taxpayer to hand over £150bn to Bank of England to cover QE losses July 25, 2023 Taxpayers will have to foot a £150bn bill to cover cumulative losses on the Bank of England’s bond buying scheme over the coming decade, a new projection has claimed today. The Treasury is forecast to inject hundreds of billions of pounds into the central bank’s balance sheet to make up for a shortfall in its [...]
London Metal Exchange names new chief executive for clearing house as court verdict looms July 25, 2023 The London Metal Exchange has made fresh changes to its senior team, announcing a new chief executive for its clearing house.
IMF warns Germany and UK will be G7’s laggards this year despite upgrades July 25, 2023 Britain is on course to register the second weakest growth in the clutch of rich countries this year, beaten only by Europe’s economic powerhouse Germany, which will be the only advanced economy to contract this year, the world’s lender of last resort has signalled today. UK output will expand 0.4 per cent this year, the [...]