Government backs carbon capture and storage to meet net zero goals and boost North Sea industry July 31, 2023 The government has announced the latest winners of its carbon capture and storage approval process.
Marshalls to cut 250 jobs as housebuilding slump takes toll July 31, 2023 Building products supplier Marshalls is axing around another 250 jobs and closing a factory in Scotland after sales dived due to a housing market slowdown. The group said the cuts come as part of plans to save £9 million a year, which will see it shut a factory in Carluke in South Lanarkshire, while also [...]
Sunak bids to woo North Sea industry with hundreds of new oil and gas licences July 31, 2023 Sunak has pledged hundreds of new oil and gas licences, two new carbon capture clusters and review on the sector's tax regime
Bank of England to hike interest rates for 14th time in a row to 2008 high of 5.25 per cent July 31, 2023 The Bank of England this week is tipped to hike interest rates for the 14th time in a row as it extends its fight against roaring inflation. Members of the nine-strong monetary policy committee (MPC) are expected on Thursday to back a 25 basis point increase to the UK’s official interest rate, which would send [...]
Not helpful if NatWest chair quits over Farage feud, says City minister July 29, 2023 It would not be “helpful” for the NatWest chairman to quit now as the bank seeks to rebound from the crisis over Nigel Farage’s Coutts bank account, the City minister has said. Andrew Griffith, who has led the Government’s response to the row, offered his backing to Sir Howard Davies after days of pressure on the [...]
Frasers: The boy done good! Ashley son-in-law guides firm to £5bn revenue July 27, 2023 Frasers Group revenues surged 15.8 per cent in the last financial year, totalling £5.56bn, as the retail powerhouse shows signs of performing well under the reign of new chief Michael Murray. Murray, who is the son in law of founder and business tycoon Mike Ashley, took over the business in 2022 after Ashley announced plans [...]
Loss of tax-free shopping costing the UK £4.1bn, say London bosses July 26, 2023 Scrapping the tourist tax could generate £4.1bn annually for the UK economy, new research suggests, as a cluster of prominent business owners call for the government to reinstate VAT shopping for international tourists. Rishi Sunak scrapped the tax which saw international shoppers able to claim 20 per cent back with their purchases. It was largely [...]
Floating offshore wind ripe for subsidies, Octopus’ renewable boss argues July 26, 2023 The government should target subsidies at emerging technologies where the UK can be a world leader, such as floating offshore wind.
Formula E CEO: We must look at US and China expansions July 25, 2023 Formula E has built itself from lowly foundations into one of the premier competitors for the world’s leading motorsport series, Formula 1. But even those running an all-electric racing series focused on sustainability and addressing environmental concerns cannot deny that expansion is on the mind. Under the baking heat of a Roman summer, Formula E [...]
Qatar’s top Arabic wellness retreat offers loads that Western retreats don’t July 24, 2023 Could Middle Eastern wisdom be the answer to modern ill health? Lisa Kjellsson checks into Qatar’s royally appointed new wellness retreat to find out It’s not every day you come face to face with royalty, but at Qatar’s new uber-luxurious spa retreat, I’m shocked to see the queen sweep past with her small entourage, instantly [...]