Boris Johnson’s final claims and statements: Former PM’s last speech fact-checked September 6, 2022 This morning Boris Johnson gave his final public address as Prime Minister on the steps of 10 Downing Street, before travelling up to Balmoral to hand his resignation to the Queen. During today’s speech, Johnson repeated many of the claims he has made so often over his premiership, including on the Covid-19 vaccine rollout, hospital [...]
Short sellers pile into UK firms amid political turmoil September 6, 2022 Short sellers piled into bets against UK firms in August as political turmoil and a looming recession continue to drag on London’s markets, new data has revealed. The UK made up 23.46 per cent of all short positions in Europe at the end of August, up from 22.6 per cent in July, followed by Germany [...]
Lufthansa averts two more days of strikes following deal with pilots September 6, 2022 Lufthansa has averted an additional two-day strike after it reached a deal with the pilots’ union. The VC union called off the walkout which was scheduled for tomorrow and Thursday, saying the two parties had set the basis of a comprehensive package of measures – both monetary and structural – which will be laid out [...]
Deals down: Second quarter mergers and acquisitions slumps back to pre-pandemic levels September 6, 2022 The number of deals through mergers and acquisitions in the UK plunged in the second quarter of the year as market volatility sparked by war in Ukraine spooked dealmakers. There were 333 deals completed between April and June this year, a drop of 116 compared to the previous quarter and 167 fewer than the same [...]
Gaucho restaurant boss claims steaks would have to cost £100+ to cover rising energy bills September 6, 2022 The hospitality chief behind the Gaucho steak restaurants has said his venues would have had to charge beyond £100 for steaks in order to cover energy costs if they were not fixed. Restaurant bosses have urged the new Prime Minister Liz Truss to issue emergency support for the sector as some venues grapple with bill [...]
Construction sector shrinks for second month in a row as recession signals brighten September 6, 2022 Construction activity shrank for the second month in a row in a sign the UK economy’s malaise is spreading to every sector, a closely watched survey published today showed. S&P Global and the Chartered Institute of Procurement and Supply’s purchasing managers’ index (PMI) edged higher to 49.2 last month, up from 48.9 in July. Despite [...]
Vertu Motors registers profit increase but warns of rising electricity bill September 6, 2022 Vertu Motors said it is facing a rise in its electricity bill from the start of October, as it and many other companies see their fixed-price energy deals run out. The business revealed that it is paying below market rate at the moment for its power, but this will change shortly. “It should be noted [...]
Headlam ‘set fair’ for when current headwinds ease up as revenue falls slightly September 6, 2022 Floor coverings distributor Headlam has said it is “set fair” for when current headwinds let up, after posting a slightly subdued revenue in interim results. The London-listed firm posted total revenue of £323.8m, versus £329.9m the previous year, in results for the six months ended 30 June 2022. It recorded a 2.9 per cent decline [...]
Housebuilder Berkeley on track for £600m profit despite spiralling costs September 6, 2022 Berkeley, one of the biggest housebuilders in the country, is on track to hit £600m in pre-tax profit this financial year and £625m the next despite spiralling costs. The FTSE housebuilder said that current levels of demand for homes in the UK is “sufficient to cover the cost increases”, as inflation hits energy, raw materials [...]
If Liz Truss thought winning was hard, governing will be a formidable task September 6, 2022 It will not feel like it to Liz Truss, but that was the easy bit. Political campaigns are always brutal, exhausting and emotional affairs; none more so than this summer’s long and fractious Conservative leadership contest. But the challenges of the last few months pale into insignificance against the enormity of what the new prime [...]