British Gas owner enjoys boost from soaring oil and gas prices amid growing windfall tax calls May 10, 2022 British Gas owner Centrica has said it expects to post annual earnings at the top of its targets amid intensifying calls for a windfall tax on energy firms.
EU scraps plans to ban shipping of Russian oil imports amid backlash May 10, 2022 The European Union has been forced to abandon plans to bar the shipping of Russian crude oil amid pushback from member states.
Sir Keir’s lockdown beers shouldn’t lift Tory spirits too much amid economic outlook May 10, 2022 Today’s Queen’s Speech is an event of great pomp and circumstance, even if this year the Queen’s Speech will not in fact feature the Queen. For a government riding high, it is an opportunity to push forward some key ambitions for the coming year. For this government, mind, it’s more of a chance to set [...]
EU can’t always get what you want: Hungary stalls progress towards Russian oil ban May 10, 2022 Hungary has continued to withhold its backing from a long-proposed European Union ban on imports of Russian oil supplies.
Malboro maker Philip Morris eyes up rival Swedish Match for £12bn May 9, 2022 Malboro maker Philip Morris in in talks to acquire European smokeless tobacco rival Swedish Match for an estimated $15bn (£12bn)
EU mulls plans to ban insurers from insuring ships carrying Russian oil May 9, 2022 The European Union is considering banning insurers from insuring ships carrying Russian oil, as another means of draining Russia of the financial resources it needs to continue bankrolling its war in Ukraine. If brought into force, the new sanctions would come as another blow to Russia’s energy export industry, as the EU also weighs up [...]
The City View: Analysing the G7 plan to phase out Russian oil May 9, 2022 Today Andy Silvester talks to City A.M. reporters Nicholas Earl and Leah Montebello. They go through the G7’s decision to phase out Russian oil, historically elevated gas prices, unpick Snapchat owner Snap Inc.’s plan to compete with the likes of TikTok, and break down Uber’s CEO Dara Khosrowshahi’s recent letter to employees. And in the [...]
Watch the moment Russia’s envoy in Poland is doused with red paint, facing protestors shouting ‘fascist and murderer’ May 9, 2022 The Kremlin’s envoy in Poland was met with raucous crowds shouting ‘fascist and murderer’ at an event to mark Russia’s ‘Victory Day’, before being doused in red paint. Sergey Andreey was pictured covered in the the liquid, resembling blood, as he attempted to attend a memorial event at the Warsaw Soviet military cemetery, A crowd, [...]
Putin is ‘mirroring’ the fascism of Hitler, says Ben Wallace May 9, 2022 Vladimir Putin is “mirroring” the fascism of Hitler and must face the same fate as the Nazi top command, the UK defence secretary Ben Wallace said today.
Cost of Ukraine crisis akin to ‘mid-sized natural catastrophe,’ Axa finance chief says May 9, 2022 French insurance giant Axa has said it expects the costs it will incur the Ukraine crisis will be similar to the financial hit posed by a “mid-sized natural catastrophe”. Speaking to reporters, Axa chief financial officer Alban de Mailly Nesle said: “We currently expect the net underwriting losses from the crisis to be akin to [...]