Abrdn urges housebuilders to go further than legal requirements in coughing up cladding cash March 23, 2022 FTSE 100 asset manager Abrdn has called on housebuilders to do more than the bare minimum to foot the bill to fix blocks with unsafe cladding. According to a report from Sky News, the City investor has written a letter to big players in the construction sector, urging them to do more than they are [...]
As it happened: Rishi Sunak’s Spring Budget 2022 March 23, 2022 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer, Rishi Sunak, delivers the government’s Spring Budget for 2022 . Please do get in touch and let us know your opinion via news@cityam.com or @Cityam With the cost of living crisis, rising inflation, war in Ukraine and [...]
Rishi Sunak’s Spring statement today: From fuel duty cuts to tax and energy bills March 23, 2022 The time has come for the Chancellor to unveil his spring statement, with the spotlight on how he intends to deal with the cost of living crisis. Rishi Sunak is set to vow to “stand by” British families as he is expected to outline further plans to support households facing financial hardship on Wednesday, which [...]
P&O Ferries to pay £36.5m compensation to workers affected by layoffs March 22, 2022 P&O is set to pay a total of £36.5m to workers who were fired last week in a four-minute video call. The company said that 575 of the 786 seafarers affected by the job cuts are expected to progress with the severance offer, which in some cases amounts to £170,000 per person, Sky News first [...]
Bosses at UK arm of Russian energy giant Gazprom seek to buy it out as insolvency looms March 22, 2022 Bosses at the UK arm of Russian energy giant Gazprom have made a bid to buy it out, as sanctions against its parent company threaten to make it insolvent. Manchester-based Gazprom Energy, which supplies more than a fifth of gas used by UK companies, has been left just days from needing a government bailout through [...]
Bad luck again: Camelot UK hit with £3.15m fine for mobile app failings March 22, 2022 To add to its bout of recent bad luck, National Lottery operator Camelot UK has been whacked with a £3.15m fine by the gambling watchdog for failures linked to its mobile app.
Business secretary to unveil neurodiversity business forum for greater support March 21, 2022 Business and banking heavyweights including Unilever and the Bank of England have launched a new forum for neurodivergent people in business. The Neurodiversity in Business (NiB) forum is set to support the neurodivergent community in the workplace, taking into account the strengths and differences of “brain-wiring”. Business secretary Kwasi Kwarteng will unveil the new body [...]
Sajid Javid: PM comparing Brexit to Ukraine invasion was about ‘self-determination’ March 21, 2022 The health secretary has become the latest of the Boris Johnson’s cabinet to defend the prime minister likening Ukraine’s desire for sovereignty amid its invasion to the Brexit vote. Health and social care minister Sajid Javid told Sky News this morning that if the public wanted to see what the prime minister thinks about Ukraine, [...]
CityFibre to get £300m investment from Abu Dhabi sovereign fund for broadband infrastructure rollout March 20, 2022 One of the UAE’s biggest sovereign funds is set to plough a further £300m into the UK’s biggest fibre optic broadband company. The Abu Dhabi government’s Mubadala investment fund, which controls $243bn (£184bn) worth of assets, will give London headquartered fibre optic company CityFibre an extra £300m, after investing £500m in the firm last September, [...]
Swedish car seller thwarted in plan for £400m takeover of Pendragon March 20, 2022 One of Europe’s biggest car sellers has been thwarted in its £400m bid to takeover the UK’s second largest car dealership, Pendragon. The board of Pendragon rejected Hedin Group’s £400m takeover bid, after the Swedish conglomerate put forward a secret offer of 28p a share, according to Sky News. As Pendragon’s largest shareholder, Hedin Group, [...]