UK closes in on mega LNG deal with US to stave off blackout fears November 8, 2022 The UK is set to finalise a major gas deal with the US after the COP27 climate change summit in Egypt this month.
Rishi Sunak torpedoes Boris Johnson’s Britannia ship as £250m plans sink to the bottom of the Brexit pond November 7, 2022 As part of government efforts to cut spending, a £250m plan to build a successor to the Royal Yacht Britannia has been scrapped, the Ministry of Defence confirmed this afternoon. The national flagship plan was sunk by Rishi Sunak’s administration as Whitehall braced for cuts in the November 17 autumn statement by Chancellor Jeremy Hunt. [...]
Uniper suffers eye-watering £35bn losses after Russian gas cuts November 3, 2022 Uniper has suffered the biggest net losses in German corporate history over the first nine months of 2022, following a Russian supply squeeze.
Gas prices climb amid renewed concerns of winter shortages November 3, 2022 Gas prices spiked this morning, with capacity reductions at gas fields in Norway powering the latest uptick in spot prices.
Ben Wallace denies he threatened to quit over defence spending pledges November 2, 2022 Ben Wallace has denied claims he would resign if not given a vastly larger defence budget as he appeared to row back on Liz Truss’ previous target. The defence secretary told a Westminster committee that Truss’ promise to spend 3 per cent of UK GDP on defence by 2030 was only “an aspiration”. The Ministry [...]
‘Dark clouds on the horizon’ warns Maersk, as it cuts shipping forecasts November 2, 2022 Maersk has warned of "dark clouds on horizon" as it cuts its forecasts for business activity until the end of year, amid recession fears.
Eurozone manufacturing economy flashes strong recession signal November 2, 2022 The eurozone manufacturing sector has tumbled into recession, driven by customers slashing spending in response to soaring prices and higher interest rates, a closely watched survey out today suggests. S&P Global’s final manufacturing purchasing managers’ index (PMI) for the 19 countries using the euro fell to 46.4 last month, down from 48.4 in September. The [...]
Explainer-in-brief: The Black Sea grain deal is in jeopardy after Russia’s exit November 2, 2022 Three more vessels carrying grain left Ukraine yesterday – despite Russia’s withdrawal from the deal that was allowing stocks to leave through the Black Sea. Russia has exited the deal claiming Ukraine is using the safe corridor to attack its ships. Ukraine, the UN and Turkey are left with coordinating new shipments, in the hope [...]
BP’s profit bonanza reignites calls for tougher windfall tax November 1, 2022 BP has unveiled another bumper round of monster profits powered by soaring gas prices, reigniting calls for a windfall tax.
UK in Recession: an Overview of What Could Happen & How You Can Take Advantage November 1, 2022 Recently, the Bank of England has issued a warning about a slowdown in economic growth towards the end of 2022, with similar worries persisting into 2023. Overall, the upcoming emergence of a recession has been fuelled by a mix of several detrimental dynamics for the UK. Uncovering the Dynamics that Lead to Recession The United [...]