Liz Truss must stand up to China against the genocide of the Uyghur muslims October 13, 2021 At Conservative Party Conference, Foreign Secretary Liz Truss called the UK a “lodestar of freedom and democracy” and called for Great Britain to work with allies to promote freedom around the world. “The democratic world order faces a stark choice,” she said. “Either we retreat and retrench in the face of malign actors … or [...]
Rescue loans considered for manufacturers within bonus curb conditions October 12, 2021 Ministers are considering offering manufacturers rescue loans to help them weather rising energy prices, if they restrict bonuses. Steel, chemical and ceramics manufacturers will be asked to limit bosses’ bonuses and dividends under plans, The Telegraph reported. Business secretary Kwasi Kwarteng is understood to have submitted such a proposal to the Treasury within options to [...]
More energy supplier collapses anticipated October 12, 2021 Energy regulator Ofgem is readying itself for a new wave of supplier collapses. At least four suppliers were reported to be in talks with Ofgem on Tuesday, according to Sky News. The companies were understood to be discussing joining the Supplier of Last Resort (SOLR) system. Some companies could make public a decision to cease [...]
Carney backs government support for energy users during gas price crisis October 12, 2021 Mark Carney believes the UK government should support energy users hit by rapidly rising energy costs. With gas prices soaring to record levels, the former governor of the Bank of England appeared to lend his support to the Prime Minister’s upcoming bail-out plans for businesses. The government is set to provide state loans to struggling [...]
Thank you for the music: Blackstone bets on lucrative music rights with $1bn Hipgnosis deal October 12, 2021 Blackstone has moved into the lucrative music copyrights market by backing Merck Mercuriadis’s music investment firm Hipgnosis with $1bn firepower to snap up music rights and manage catalogues. As part of the deal, Blackstone will take an ownership stake in Mercuriadis’ Hipgnosis Song Management (HSM), an adviser to the eponymous investment arm, Hipgnosis Songs Fund [...]
Gymshark ‘aggressively’ pitched by banks as London IPO is on the cards October 12, 2021 Athleisure business Gymshark has started to put together plans for a stock market listing. The brand has been holding preliminary talks with institutional investors and investment banks about a flotation, Sky News has reported. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was [...]
Exclusive: Meet the UK’s 50 fastest-growing startups October 12, 2021 A total 50 of the most promising high-growth tech firms in the UK have been named as the country’s top scaleup companies by tech group Silicon Valley Comes to the UK (SVC2UK). Smart employee app Blink, charity fundraiser Enthuse, and digital health platform supporting under-served areas of healthcare, Pepp, were among the firms selected for [...]
It will be an irony if football kills off Nations League in name of progress October 11, 2021 With a furiously contested Kylian Mbappe goal, the 2020-21 Uefa Nations League drew to a breathless and controversial conclusion on Sunday night in Milan. What wasn’t in question, however, was that, after two cycles, the tournament has proved to be an overwhelming success. Not too many people saw that coming, given the distinctly tepid reception [...]
Energy crisis: Treasury mulling over emergency cash request for industrial firms October 11, 2021 The Treasury is now considering a formal emergency funding request to help bailout industrial firms struggling with energy price rises in what appears to be an end to a cabinet row. The Department of Business, Energy and Industrial Strategy (Beis) today submitted a formal funding request to Rishi Sunak’s department, after the Treasury yesterday said [...]
Energy crisis: Industry chiefs turn up heat on ministers to provide more support October 11, 2021 Heavy industry bosses have piled pressure on the government this morning to provide emergency cash to manufacturers struggling to cope with surging energy costs. Business secretary Kwasi Kwarteng yesterday said he was in talks with Treasury to provide emergency funding to heavy industry firms, however the claim was quickly slapped down by anonymous sources at [...]