Hospitality bosses slam government’s ‘drip fed support’ on mounting energy bills September 8, 2022 Hospitality leaders have said the government’s freshly announced energy bill support is a drop in the ocean compared to the mounting costs facing the sector. Prime Minister Liz Truss has revealed a six month scheme to support businesses, offering equivalent support as for households. The scheme will be reviewed in three months to see if [...]
Liz Truss’ government must not keep science on the backburner, urges hVIVO CEO September 8, 2022 Liz Truss’ new cabinet must not allow science to be kept on the backburner, the CEO of hVIVO, formerly Open Orphan, told City A.M. today. “One of the key things for me is to realise that the science industry played a significant role in fighting the pandemic,” CEO Yamin ‘Mo’ Khan said. “Without the vaccines, [...]
All eyes on the Pound as Sterling set for bounce on Truss’s energy bill freeze September 8, 2022 It’s a big day in the markets with Liz Truss set to confirm her energy plans. The proposals are set to place a huge burden on the UK’s already strained finances. UK energy bills are set to rise to more than £3,500 a year for the average household from October, with Truss expected to outline [...]
Web3 will co-exist with centralised aggregators like Facebook, Twitter, YouTube et al September 8, 2022 Dr Chris Kacher explains how he believes Web3 will allow property to smoothly transition across centralised platforms.
Govia Thameslink staff balloted by TSSA union over possible fresh strike action September 8, 2022 Govia Thameslink train staff are to be balloted for industrial action in protest of pay, conditions and redundancies. Rail union TSSA will open ballots for hundreds of its members working at Govia Thameslink Railway, which includes four key franchises. Results of the ballot will be announced on 6 October and could impact Thameslink, Southern, Great [...]
Lloyd’s of London to give staff £2,500 helping hand ahead of winter September 8, 2022 Lloyd’s of London is to give staff earning less than £75,000 per year a £2,500 one-off payment later this month to help with surging inflation. Chief Executive John Neal told City A.M. this morning that it was set to be a “pretty rotten winter” and “as employers we’ve got an obligation to think, to care [...]
Primark profit margins to be hit by high energy costs and shoppers’ budget worries September 8, 2022 Primark owner Associated British Foods said it expects the retailer’s profit margins to take a hit next year due to rising energy costs. In a trading update on Thursday morning, the retailer said it anticipated Primark’s profit margin to be lower than expected as the budget-chain has opted to limit further price hikes. ABF acknowledged [...]
PM Liz Truss to announce energy plan: Borrow £150bn, restart fracking and freeze bills at £2,500 September 8, 2022 Prime Minister Liz Truss is set to announce bold new proposals to tackle the energy crisis, including borrowing £150bn, freezing energy bills at £2,500 until 2024 and restarting fracking. The newly-minted PM’s plans come after she dismissed suggestions of a windfall tax on energy producers to pay for the borrowing, as questions are asked about [...]
Housebuilder Vistry exceeds expectations after bidding on Countryside September 8, 2022 Vistry, one of the biggest housebuilders in the UK, has bagged £1.64bn in forward sales so far this year, as it seeks to ride out the current economic storm as a construction powerhouse with Countryside Partnerships. House completions rose five per cent to 5,409 in the six months to 30 June. Meanwhile, revenue inched three [...]
Cairn Homes bosses hike revenue forecast to £520m following record home sales September 8, 2022 Irish housebuilder Cairn Homes has sold a record number of homes in the first half of the year, as Ireland’s population grows. The FTSE-listed company has lifted its forecast for the rent of the year, with bosses anticipating €760m (£660.7m) in forward sales, a more than €600m (£521.6m) revenue and 1,500 closed home sales. The [...]