BP could reconsider UK investment plans after being hit with windfall tax May 27, 2022 Energy giant BP has revealed it will have to "look at the impact" of the government's new levy on its £18bn UK investment plans.
Explainer-in-brief: Guess who’s behind the dead cat strategic masterpiece? May 27, 2022 Yesterday Chancellor Rishi Sunak announced the introduction of a windfall tax – or as he called it, a “temporary targeted energy profits levy” – signalling a huge u-turn from his party’s previous stance on the policy. The announcement came the day after the Sue Gray report on Downing Street boozy parties, leading some to condemn [...]
Sunak denies using £21bn support package to deflect from No 10 lockdown parties May 27, 2022 Chancellor Rishi Sunak has rejected the notion that the timing of handing out £21bn worth of cost-of-living support to deflect from the controversy over Downing Street lockdown parties. The Chancellor bowed to demands for the UK Government to step in and help households to deal with ballooning energy bills and rising shop prices, which are [...]
Angry cleaners to stage protest outside Downing Street over partygate treatment May 27, 2022 Hundreds of people are expected to descend on Downing Street this morning as a protest is planned amid growing anger over revelations in the ‘partygate’ report over the way cleaners and security staff were treated. Sue Gray said in her report that she learned of multiple examples of “unacceptable” treatment of security and cleaning staff [...]
The City View: Victoria Scholar on Sunak’s windfall tax and Cowgill exit May 26, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through Rishi Sunak’s unveiling of a windfall tax today, the Fed’s plans to hike rates by 50 basis points in June and July, Elon Musk’s painfully slow acquisition of Twitter, and JD Sports founder and CEO Peter Cowgill’s shock departure [...]
Shell upholds pledge to invest in UK energy sector after Sunak unveils £5bn windfall tax May 26, 2022 Shell has reaffirmed its commitment to ramp up investment in the UK's energy sector despite the unveiling of a hefty new windfall tax.
Uncovering Churchill’s Marrakech May 26, 2022 Asking if Winston Churchill was a hero or a villain oversimplifies the man and the historic events in which he played such controversial — but undoubtedly significant — roles. I knew of him first as a statesman, then as a historian and writer, but only relatively recently discovered that Churchill was an accomplished artist, too. [...]
Opinion-in-brief: The closing act of Partygate is embarrassing for everyone May 26, 2022 The report by Sue Gray on the parties held in Downing Street was finally released yesterday – and hell, it was damning. It concluded that the “senior leadership at the centre, both political and official, must bear responsibility”. What was Boris Johnson’s defence? He “humbly” apologised and took responsibility, but urged everyone to “move on”. [...]
Today: City hold its breath as Rishi Sunak is expected to confirm windfall tax on soaring energy profits May 26, 2022 Energy giants across the UK and investors in the City are awaiting what will come out of Westminster today as Chancellor Rishi Sunak is expected to cave in to pressure to impose a windfall tax on the soaring profits of oil and gas firms. Treasury sources did not deny reports he would use his announcement [...]
Downing Street in need of a cultural turnaround project May 25, 2022 There is a possibly apocryphal story about a high-flying financial services executive who, when hiring, always took their preferred candidate for lunch before signing on the dotted line. Unknown to the ambitious, keen to impress applicant, the exec pulled this trick at the same restaurant every time – and always told the restaurant to deliberately [...]