Hunt defends new electricity generator levy in Downing Street showdown December 15, 2022 Chancellor Jeremy Hunt defended the introduction of a new tax on legacy electricity generators at a Downing Street roundtable this week.
Russian oligarch seeks to block fraud lawsuit over sanctions December 14, 2022 A high-profile Russian oligarch is seeking to block an $850m (£685m) fraud lawsuit over claims the Russian banks suing him could use proceeds from the case to “fund the war in Ukraine”. Lawyers acting on behalf of Russian banker Boris Mints called for the High Court lawsuit to be put on hold in arguing any [...]
‘At last!’: City cheers signs of UK inflation passing its peak December 14, 2022 The City has cheered fresh figures out today that revealed this year’s historic inflation surge may have finally turned a corner. Prices accelerated 10.7 per cent over the year to November, down from a 41-year high rate of 11.1 per cent in the previous month, according to the Office for National Statistics (ONS). The fall [...]
Shapps refuses to confirm fee for buying out China’s Sizewell C stake December 14, 2022 Business Secretary Grant Shapps refused to provide a figure for the cost of buying out China's stake in proposed nuclear project Sizewell C.
US inflation falls quicker than expected nailing on slow down from Federal Reserve December 13, 2022 US inflation fell again last month to its lowest level since the end of 2021 in another sign this year’s price surge in the world’s biggest economy has passed its peak, official figures out today reveal. Consumer prices climbed 7.1 per cent over the last year to November across the pond, down from a rate [...]
EU to push for greater sanctions compliance with new special envoy December 12, 2022 The EU is set to put one of its top civil servants to the task of pushing for greater compliance with sanctions against Russia, in third-countries including Turkey, Serbia, and the United Arab Emirates (UAE). David O’Sullivan, the bloc’s former ambassador to the US, is set to take up a new role in January, in [...]
EU faces €100bn bill to stave off blackouts next winter, warns IEA December 12, 2022 The European Union faces a €100bn bill to stave off supply shortages next winter, warned the International Energy Agency.
Lionel Messi should be regarded as the best ever whether he wins a World Cup or not December 12, 2022 It is the curse of every Argentinian No10 to be measured against Diego Maradona, but for Lionel Messi the comparison took on extra weight during the summer of 2005. Messi won the top scorer and player of the tournament prizes as he led his country to victory at the Under-20 World Cup in the Netherlands. [...]
UK economic bounce back a false dawn as recession still looms December 12, 2022 The UK economy is bouncing back, latest figures show, but economists still expect the country to tip into a record long recession. Gross domestic product (GDP) climbed 0.5 per cent in October, swinging back from a contraction over the summer, the Office for National Statistics (ONS) said today. The figures beat the City’s expectations. London’s [...]
UK factories on course to sink into recession next year December 12, 2022 UK factories are on course to sink into recession next year driven by the wider economic slowdown and swelling costs cooling activity, a new survey out today shows. Manufacturing output will shrink 3.2 per cent in 2023, according to Make UK and BDO. The pair have been consistently slashing their forecasts for industrial output throughout [...]