NIESR top economist: Bank of England has tools to fight inflation May 30, 2022 The UK economy is in a bit of a bind. Households are being squeezed by historic rises in their living costs, while businesses’ margins are thinning due to expenses soaring. A much higher than expected inflation crunch – primarily the result of Russia’s unforeseen invasion of Ukraine – is forecast to trigger a spending pull [...]
Shell warns of investment ‘uncertainty’ amid projections of record North Sea tax revenues May 29, 2022 Shell has toughened its stance on the government's announced levy on North Sea oil and gas operators, warning the new tax will create "uncertainty."
Ex-banker turned GoCardless president Paul Stoddart talks fintech, Brexit, pandemic recovery and Russia May 28, 2022 At the start of this month, Paul Stoddart jumped ship to become the president of the newly-minted fintech unicorn GoCardless. Stoddart, who describes himself as a “banker by trade,” spent years at Natwest, Barclays, and was most recently the chairman of Mastercard’s VocaLink. In an exclusive interview with City A.M., Stoddart said that joining GoCardless [...]
Tech Weekly: Tech Nation CEO on UK fintech success, and Klarna focus on profits May 27, 2022 Today City A.M. reporter Charlie Conchie talks to Tech Nation CEO Gerard Grech for a chat about the company’s Impact Report, which assesses how it has helped shape leading tech firms. They also discuss the UK’s place as a fintech hub, and the potential slowdown of VC investment in fintech later this year. He also [...]
BP could reconsider UK investment plans after being hit with windfall tax May 27, 2022 Energy giant BP has revealed it will have to "look at the impact" of the government's new levy on its £18bn UK investment plans.
Post-Brexit and pandemic inquiry launched into labour market recovery as shortages ‘act as brake on prosperity’ May 27, 2022 A post-pandemic and Brexit recovery inquiry has been launched into the UK labour market as skills and worker shortages appear to have strained the recovery post-pandemic and Brexit. The Business, Energy and Industrial Strategy (BEIS) committee initiated the probe on Friday in wake of recently published figures by the Office for National Statistics, showing more [...]
Windfall tax is a big risk and Rishi Sunak’s policies may lead to recession, warns former minister May 27, 2022 FORMER Tory leadership candidate Sir John Redwood has warned that the Government’s windfall tax on energy firms is risky and its economic policies may be leading us towards a recession. He said he was opposed to a windfall tax on energy firms as it would affect future investment. “Why don’t I want a windfall tax on the energy [...]
The City View: Victoria Scholar on Sunak’s windfall tax and Cowgill exit May 26, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through Rishi Sunak’s unveiling of a windfall tax today, the Fed’s plans to hike rates by 50 basis points in June and July, Elon Musk’s painfully slow acquisition of Twitter, and JD Sports founder and CEO Peter Cowgill’s shock departure [...]
Shell upholds pledge to invest in UK energy sector after Sunak unveils £5bn windfall tax May 26, 2022 Shell has reaffirmed its commitment to ramp up investment in the UK's energy sector despite the unveiling of a hefty new windfall tax.
Start-up woes: Getir follows Gorillas and Zapp headcount culls with 800+ jobs slashed May 26, 2022 Getir and Zapp have been the latest rapid delivery startups to slash jobs, in a further blow for the speedy grocery category. Turkey-based Getir told workers it intends to slash its global headcount by 14 per cent, representing some 840 job losses. “With a heavy heart, we today shared with our team the saddening and [...]