UK borrowing falls as debt pile revised to under 100 per cent of economy July 21, 2023 The Government’s debt pile was bigger than the country’s economic output in June – the first time this has happened for more than 60 years, official data shows. Public sector net borrowing hit £18.5 billion last month, down from £20 billion a month earlier, the Office for National Statistics (ONS) said. It pushed the total [...]
I’ve loved every minute of it July 20, 2023 Without aviation insurance, people can’t fly,” says Mark Skilton, Aon’s chairman of Global Speciality within the firm’s Reinsurance Solutions business. Therein lies the rub of the entire insurance industry – a sector that, often in the background, keeps the world moving. And in doing so, it often has to move at speed: Skilton explains to [...]
Explainer: What of Ukraine’s grain now? July 20, 2023 First, Russia pulled out of the grain deal which had been guaranteeing safe exports of Ukrainian grain through the Black Sea. Moscow then started attacking grain terminals and port infrastructure in Odessa, one of the major ports in Ukraine. Missile attacks so far have destroyed around 60,000 tonnes of grain. Joseph Borrell, the head of [...]
MI6 chief calls for Russians to spy for UK July 19, 2023 The head of MI6 has urged Russians angry at Vladimir Putin’s war in Ukraine to spy for the UK. Sir Richard Moore told them “our door is always open” and “we will work to bring the bloodshed to an end”. He said that while artificial intelligence (AI) is being used to help target the Kremlin’s [...]
Farage claims documents show Coutts closed his accounts for political reasons July 19, 2023 Former Brexit Party leader Nigel Farage said he has obtained documents that show his accounts with the private bank Coutts, a unit of taxpayer-backed bank Natwest were being closed primarily for political reasons. In a video posted on Twitter on Tuesday, Farage said he received a 40-page document from Coutts after filing a “subject access [...]
Woodside misses revenue estimate but sticks to guidance July 19, 2023 Australian No.1 oil and gas producer Woodside Energy said second-quarter sales tumbled due to weaker commodity prices and maintenance work.
FTSE 100 close: Ocado drags London index into black as markets brace for inflation data July 18, 2023 London’s FTSE 100 squeezed out gains today that have pushed it back into the black in 2023, propped up by shares in online grocer Ocado soaring after a decent set of results. The capital’s premier index jumped 0.64 per cent to 7,453.68 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Europe increasingly reliant on LNG as it aims to stave off winter supply crunch July 17, 2023 Europe will once again be highly dependent on LNG to meet its demand needs this winter, warns the International Energy Agency.
Ultra-high food prices here to stay as Russia exits Black Sea grain deal with Ukraine July 17, 2023 Soaring food costs may not fall as quickly as markets had hoped, retail and pub industries have warned amid a Russian supply squeeze.
Kremlin seizes Danone and Carlsberg subsidiaries in latest sanctions pushback July 17, 2023 The Russian state has taken control of French yoghurt maker Danone’s Russian subsidiary along with beer company Carlsberg’s stake in a local brewer, according to a decree signed by President Vladimir Putin on Sunday. The decree said that foreign-owned stakes in Danone Russia and Baltika Breweries were being put under the “temporary management” of government property agency Rosimushchestvo. It comes after the Russian subsidiaries of Germany’s Uniper and Finland’s Fortum were taken under state control in April. The Kremlin warned [...]