Cornwall Insight eases price cap predictions amid supply boost September 8, 2022 Cornwall Insight has eased its predictions for the price cap over the coming months - although rates will remain historically high.
Hospitality bosses slam government’s ‘drip fed support’ on mounting energy bills September 8, 2022 Hospitality leaders have said the government’s freshly announced energy bill support is a drop in the ocean compared to the mounting costs facing the sector. Prime Minister Liz Truss has revealed a six month scheme to support businesses, offering equivalent support as for households. The scheme will be reviewed in three months to see if [...]
Liz Truss’ government must not keep science on the backburner, urges hVIVO CEO September 8, 2022 Liz Truss’ new cabinet must not allow science to be kept on the backburner, the CEO of hVIVO, formerly Open Orphan, told City A.M. today. “One of the key things for me is to realise that the science industry played a significant role in fighting the pandemic,” CEO Yamin ‘Mo’ Khan said. “Without the vaccines, [...]
Web3 will co-exist with centralised aggregators like Facebook, Twitter, YouTube et al September 8, 2022 Dr Chris Kacher explains how he believes Web3 will allow property to smoothly transition across centralised platforms.
Lloyd’s of London to give staff £2,500 helping hand ahead of winter September 8, 2022 Lloyd’s of London is to give staff earning less than £75,000 per year a £2,500 one-off payment later this month to help with surging inflation. Chief Executive John Neal told City A.M. this morning that it was set to be a “pretty rotten winter” and “as employers we’ve got an obligation to think, to care [...]
London’s FTSE 100 hit by slumping energy prices and downturn jitters September 7, 2022 London’s FTSE 100 today was ensnared by investors fretting over a slowdown in the world economy and falling energy prices. The capital’s premier index dropped 0.86 per cent to 7,237.83 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.05 per cent lower to [...]
Liz Truss energy price freeze would peg inflation, BoE chief economist says September 7, 2022 LIZ Truss’s plan to freeze energy prices would prevent inflation from scaling to its highest level since 1980, but interest rates may have to stay higher for longer, the Bank of England’s top wonk said today. Huw Pill, the monetary authority’s chief economist, told the commons treasury committee that the new prime minister’s cost of [...]
North Sea body and unions warn offshore workers against wildcat strikes September 7, 2022 The UK's leading North Sea body has warned against wildcat strikes tomorrow, as have unions including GMB, RMT and Unite.
Pound sinks to lowest level against US dollar since 1985 September 7, 2022 The pound today sunk to its lowest level against the US dollar since 1985, driven by investors sweating over the health of the UK economy and a borrowing splurge. Sterling fell to $1.1406 briefly today, marking another dismal milestone for the currency. The last time the pound fell that low was when Margaret Thatcher was [...]
City Moves: Who’s switching jobs in the Square Mile? September 7, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Lombard Odier Investment Managers Lombard Odier Investment Managers has built out its UK wholesale team with a fresh sales director. George Guest, who stepped into the London-based role at the end August, will be responsible for promoting [...]