Octopus Energy calls for £1bn hedging support to finalise Bulb Energy deal July 31, 2022 Bulb's future could finally be settled in the coming weeks, provided the Government coughs up £1bn in taxpayer funds.
Record profits put energy firms in Westminster crosshairs once again July 29, 2022 Energy giants triggered a fierce backlash yesterday after unveiling massive profits powered by soaring oil and gas prices.
Exclusive: OEUK defends windfall tax’s investment relief and calls for domestic energy ramp-up July 28, 2022 The UK's leading industry body for offshore energy has defended the continued inclusion of investment relief within the windfall tax.
Hefty £1.5bn trading error legal charge erodes Barclays profits July 28, 2022 A £1.5bn legal charge for a trading error has eroded British bank Barclays’s profits, it announced today. Hefty litigation and regulatory costs to deal with selling too many financial products dealt a major blow to Barclays’s first half earnings. Pre-tax profits dropped by a quarter to £3.7bn in the six months to June, down from [...]
Upbeat earnings fail to turn investors’ eyes from steep US technical recession July 28, 2022 A string of upbeat earnings was not today enough to cushion City investor jitters over a slowdown in the US economy. London’s premier FTSE 100 index dipped 0.04 per cent to 7,345.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.1 per cent [...]
Exclusive: Industry body urges Tory leadership contenders to back fracking July 28, 2022 The UK's leading onshore energy body has called on the two Tory leadership contenders to lift the moratorium on fracking.
We should question the mandate of the Bank of England – not its independence July 28, 2022 ONE OF the most surprising things to come out of the race to replace Boris Johnson as leader of the Conservative Party has been the space the Bank of England has taken up in the discourse. One unsuccessful candidate argued the government should have more oversight of the Bank’s activities and current frontrunner Liz Truss [...]
Heritage campaigners and M&S roll up sleeves for public inquiry over Oxford St flagship store July 27, 2022 Heritage campaigners have started crowdfunding to battle Marks and Spencer’s plans to demolish its 1929 flagship Oxford St store this autumn. M&S hopes to demolish the Marble Arch building, which it says has “asbestos throughout,” to create a new 10-storey building, with office space and a gym. A two-week public inquiry in October will assess [...]
Big Tech feels a big drop as Google and Microsoft struggle to maintain growth July 27, 2022 Both Google parent firm Alphabet and Microsoft posted weaker-than-expected earnings last night, as they grapple with the testing macroeconomic backdrop.
Volodymyr Zelensky pays tribute to Boris Johnson as he receives Churchill Award July 26, 2022 Volodymyr Zelensky has praised Boris Johnson’s role in helping Ukraine in its war against Russia as he received a Sir Winston Churchill Leadership Award in a Downing Street ceremony. Zelensky said that Ukraine was “not left alone” when Russia invaded its neighbour on 24 February and told Johnson that “this award is yours as well”. [...]