Investors ditch London shares after fifth successive Bank of England rate rise June 16, 2022 Investors ditched London-listed stocks today after the Bank of England raised interest rates for the fifth successive meeting. The capital’s premier FTSE 100 index dropped 3.14 per cent to 7,044.98 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 3.05 per cent to below [...]
Lord Geidt resignation: Ethics adviser quit after being asked for advice on steel tariffs June 16, 2022 The Prime Minister’s ethics adviser resigned after being asked to approve tariffs on steel which the government itself acknowledges would break part of a World Trade Organisation treaty. Lord Geidt resigned last night, and in his letter to the Prime Minister said he was “tasked to offer a view about the Government’s intention to consider [...]
Bank of England hikes rates for fifth time in a row and warns of 11 per cent inflation surge June 16, 2022 The Bank of England today hiked interest rates for the fifth time in a row for the first time since it was given control of monetary policy a quarter of a century ago as it pushes to cool the highest rise in living costs for a generation. A majority of the Bank’s nine rate setters, [...]
Mark Kleinman’s exclusive column: Downing Street business adviser pondering exit? June 15, 2022 Raging inflation, labour shortages, a weakening currency, supply chain chaos and – in the eyes of many colleagues and opponents alike – a lame duck prime minister: if you thought that being a CEO in such a climate was tough, spare a thought for his own business liaison chief. Alex Hickman, a co-founder of the [...]
Steel can power UK’s energy ambitions, says Severfield boss June 15, 2022 Steel has a vital role in boosting energy infrastructure and help power the transition to a greener economy, argued Severfield's boss.
Trading standards seize thousands of counterfeit chocolate bars from Oxford St candy shops June 15, 2022 More than £100,000 worth of counterfeit or illegal chocolate bars and vapes were seized from US candy shops on Oxford Street yesterday. Trading standards seized a huge haul of dodgy goods yesterday, including 2246 counterfeit Wonka Bars, with a raid worth £22,000 from one shop alone. Council officials are endeavouring to crack down on the [...]
Boris Johnson’s new cost of living tsar called for him to quit just months ago June 14, 2022 Boris Johnson’s new cost of living tsar called for the Prime Minister to resign just months ago and has a long record of excoriating tweets directed at the government. David Buttress, co-founder of food delivery app Just Eat UK, said in January that Johnson “just has to” quit, while in April he said that voting [...]
Government buys stake in Sizewell C and paves way for funding June 14, 2022 The government has made progress on its proposed funding scheme for nuclear power, with Sizewell C set for taxpayer backing.
US Federal Reserve to deliver 75 basis point rate rise tomorrow June 14, 2022 The US Federal Reserve will shock markets tomorrow by beginning a 75 basis point rate hike cycle in a bid to shake inflation out of the American economy. That’s according to top Wall Street analysts, who said last Friday’s inflation overshoot will force Fed chair Jerome Powell and rate setters to deliver a monetary policy [...]
Car industry in shock and fuel prices climb as government scraps all grants for electric vehicles June 14, 2022 There is widespread shock and surprise in the car industry this morning as the DfT said all grants for new EVs have been scrapped.