Rees-Mogg opens talks with British Steel owner over bailout and jobs October 17, 2022 The business secretary has reportedly opened formal talks with the owner of British Steel about a taxpayer bailout and job cuts. As first reported by Mark Kleinman for Sky News, Jacob Rees-Mogg wrote to parent firm Jingye Group last week and agreed that British Steel would maintain its current operations and 4000-strong work force during the [...]
Mordaunt says Truss is ‘not under a desk’ as PM avoids parliament scrutiny October 17, 2022 A senior cabinet minister has been forced to say that Liz Truss is “not under a desk”, after refusing to face questions in the House of Commons. Leader of the House of Commons Penny Mordaunt answered an Urgent Question in parliament today from Labour leader Sir Keir Starmer, instead of the Prime Minister. Starmer said [...]
Pubs and brewers disappointed by alcohol duty reversal ahead of ‘toughest winter in history’ October 17, 2022 Pubs will be “hit extremely hard” this winter after the government scrapped an upcoming alcohol duty freeze, industry chiefs said. The duty freeze was one of many policies consigned to a bonfire of tax cuts from newly-appointed Chancellor Jeremy Hunt on Monday. Announced just a few weeks ago by Hunt’s predecessor Kwasi Kwarteng, the move would [...]
Inside AlUla, Saudi Arabia, where monuments are older than the pyramids October 17, 2022 Just when you think you’ve grasped how ancient the city of AlUla, Saudi Arabia is, you stumble upon an even older part, and then another, each earlier still. By the time someone mentions palaeolithic axe-heads from 200,000 years ago, a 12th century Islamic town is beginning to sound contemporary. What’s made all this Indiana Jones [...]
Hunt ditches ‘almost all’ of Truss’ tax cuts as chancellor bins mini-Budget October 17, 2022 Jeremy Hunt has binned “almost all” of Liz Truss’ mini-Budget, while also announcing that the UK’s energy bills freeze will only be universal until April. The new chancellor confirmed more of Truss’ tax cuts have now been overturned – including the planned cut to the basic rate of Income Tax – in a bid to [...]
Record 730,000 retirees returning to work to top up pension as living crisis pushes older Brits to the brink October 17, 2022 More than 733,000 retirees across the UK are preparing to return to work as the cost-of-living crisis escalates, according to new research shared with City A.M. this morning. For 12 per cent of those in retirement, rising inflation has “upended” their retirement plans. More than a third of UK retirees are worried they will no [...]
Hunt tries to steady the ship as Tory MPs plot Truss’ downfall October 17, 2022 Jeremy Hunt yesterday urged Tory MPs to get behind Liz Truss to save her premiership as he warned of impending spending cuts and tax rises. The new chancellor said Truss had “listened” and “changed” since last month’s catastrophic mini-budget, while warning of the “difficult decisions” he would make to restore market confidence in the government. [...]
Dealmaker’s Spotlight: Evercore October 17, 2022 Datasite recently spoke with Alexander Asher, Vice President, Consumer-Retail Team at Evercore, to hear his thoughts and insights on market conditions, trends, and technology. Evercore is a premier global independent investment advisory firm. Founded in 1995, the firm has advised on over US$4.7 trn M&A and restructuring transactions. Headquartered in New York, it has 17 advisory [...]
Hunt says Truss has ‘changed’ as he warns of spending cuts and tax rises October 16, 2022 Jeremy Hunt has claimed Liz Truss has “changed” after the bruising last month as he warns of coming spending cuts and tax rises. The new chancellor said “spending is not going to increase by as much as people hoped” and that “taxes are not going to go down as quickly as people thought and some [...]
Blues for an Alabama Sky review: A comic picture of The Great Depression, but not a cohesive one October 14, 2022 Who knew a play about The Great Depression could, and frankly, should, be this funny? We laugh or we cry, goes the old adage, and Pearl Cleage’s 1995 play is an uneven but often joyfully comic celebration of some of the vulnerable, brash and foolhardy characters who lived through it. We meet Angel who dreams [...]