The City View: Innovate Finance summit roundup, and two Lidl adverts banned April 6, 2022 Today Andy Silvester chats to City A.M. reporter Charlie Conchie, and whistles through the main headlines you need to know. Andy and Charlie go through this week’s fintech Innovate Finance summit — they discuss the London Stock Exchange CEO’s comments yesterday on bosses needing a pay boost; Ron Kalifa’s views on the mindset shift needed [...]
Johnson Matthey secures £400m loan for UK hydrogen push April 6, 2022 Johnson Matthey (JM) have been given a £400m loan from the government to boost research and development in sustainable technologies.
Bank of England to launch 1980s style rate hike cycle as it scrambles to douse down rampant inflation April 6, 2022 The Bank of England will hike interest rates at the quickest pace since 1988 this year as it scrambles to douse down rampant inflation. 0Threadneedle Street will lift borrowing costs four more times this year, taking the calendar year total number of hikes to six, according to forecasts by investment banking giant JP Morgan. The [...]
UK to cancel LGBT+ conference over conversion therapy blunder April 6, 2022 The UK has cancelled a conference promoting LGBT+ rights after sponsors pulled out over the government's stance on conversion therapy.
Kremlin furious as Russian Army suffers ‘significant losses’ after bombing own unit, mistaken regiment for Ukrainian troops April 6, 2022 The Russian Airforce bombed several of its own troops in recent days, confusing the location of its own military unit with Ukrainian armed forces. The Russian Army mistakenly fired a missile on its own 38th motorized rifle brigade, known as military unit 21720, according to various media reports in Eastern Europe, including a Facebook post [...]
Fast fashion retailer Shein hits $100bn valuation with fresh funding round April 6, 2022 Fast-fashion giant Shein has hit a $100bn valuation this week after a fresh funding round, making it the third most valuable startup in the world after Elon Musk’s SpaceX and ByteDance.
Calories on the menu: Bosses fear new rules for restaurants will leave a sour taste April 6, 2022 Diners are being confronted with the calorie contents of meals at some restaurants under new laws that come into effect today – but could this do more harm than good? Hospitality bosses have said the changes come at the worst possible time, as the sector endeavours to recuperate pandemic losses while staring down the barrel [...]
Nuclear fusion: World-first reaction achieved by Oxford-based start-up April 5, 2022 The crown jewel of energy production, nuclear fusion using a projectile, may have been cracked in a major scientific breakthrough by a start-up in Oxford. First Light Fusion (FLF) was praised by business and energy secretary, Kwasi Kwarteng, after it announced it had achieved the reaction in its Kidlington laboratory. The experiment fused two atoms [...]
Government paves way to end fracking moratorium with new survey April 5, 2022 The government has announced a survey into fracking ahead of the unveiling of its long-awaited energy strategy.
Germany seizes control of Gazprom supply arm April 5, 2022 The German government has taken hold of Gazprom's German unit - to prevent a Russian-backed takeover of the business.