Exclusive: Londoners absorb heaviest national insurance hike hit May 3, 2022 Londoners have suffered the worst blow to their finances in the UK in the first month the national insurance hike has been in effect, reveals exclusive research shared with City A.M. today. Workers in the capital have absorbed a near £300m blow to their budgets from higher national insurance bills, the biggest jump in the [...]
Hungary and Slovakia could be spared from Russian oil import ban amid EU divisions May 2, 2022 The European Commission could spare Hungary and Slovakia from an upcoming embargo on buying Russian oil.
Government weighs up extending life of Hinkley Point B as energy crisis deepens May 2, 2022 Business Secretary Kwasi Kwarteng is open to extending the life of nuclear power plant Hinkley Point B amid increasing focus on energy security.
Goldman Sachs dives deeper into crypto as Ukraine leverages NFTs to fund war efforts May 2, 2022 CryptoCompare's Francisco Memoria examines what was behind the market moves for cryptocurrency over the past seven days.
Oil prices tumble as China lockdowns cut into demand expectations May 2, 2022 Oil prices have plummeted amid forecasts of weak economic growth in China, which has lowered demand expectations.
Kremlin to net $180bn tax windfall from energy price surge May 2, 2022 The Kremlin is set to receive a tax windfall from its brutal invasion of Ukraine sending energy prices soaring, reveals analysis released today. Revenue from oil and gas sales “will increase significantly to more than $180bn (£143bn)” this year, energy consultancy Rystad Energy estimates, a 45 per cent and 181 per cent surcharge compared to [...]
‘Hitler also had Jewish blood’: Russian foreign minister causes fury with remarks about Zelensky and ‘de-Nazifying’ Ukraine May 2, 2022 Russia’s foreign minister has caused fury after claiming Hitler “had Jewish blood”, in a bid to justify the Kremlin’s so-called ‘de-Nazification’ of Ukraine. Moscow’s top diplomat Sergei Lavrov was condemned by Israel’s foreign minister Yair Lapid, after making his comments to Italian media this week, while referring to Ukraine’s president Volodymyr Zelensky. The Ukrainian [...]
BP and Shell set to unveil massive profits and payouts amid growing calls for windfall tax May 2, 2022 Shareholders in BP and Shell are anticipating bumper payouts this week, amid mounting calls for a windfall tax.
Value of global M&A falls as post-pandemic inflation shakes down figures May 2, 2022 The value of global M&A activity has dwindled in the first quarter of the year, as inflationary headwinds shake down valuations – and have blown other deals off the table. Mergers and acquisitions (M&A) have “clearly weakened” in the first few months of 2022, according to analytics firm GlobalData, with total transaction value slipping more [...]
China zero-Covid policy and Ukraine war brings Europe factory output to ‘standstill’ May 2, 2022 China’s adherence to zero-Covid tolerance policies and Russia’s invasion of Ukraine has brought manufacturing “to a near standstill” in Europe, reveals a closely watched survey released today. Widespread shortages of raw materials used by factories on the Continent caused by Beijing plunging key trade hubs such as Shanghai into lockdown in response to a surge [...]