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 [...]
Exclusive: Unprecedented war for talent reflects a seismic shift in power on Britain’s hyper-aggressive job market May 26, 2022 Britain’s jobless rate has fallen to its lowest level for over 47 years. In fact, for the first time ever, there are fewer unemployed people than job vacancies. This is resulting in an unprecedented ‘war for talent’ and an unprecedented wave of pay hikes, but what does this actually look like for London’s business community? [...]
Space SPACs: Uncertainty surrounds the mega-IPOs of the future May 26, 2022 The climate and energy crisis on Earth has markets rattled, but could investors be wooed by the plan to put nuclear energy plants on the moon and make humans interplanetary? Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX, and satellite spinoff Starlink, have been pegged by analysts to be the mega-IPOs of the future for [...]
Altcoins drop as JPMorgan holds Bitcoin price assessment May 26, 2022 The price of Bitcoin remains flat this morning, with low trading volume suggesting there is still indecision among investors.
AJ Bell pre-tax profits fall despite swelling customer base May 26, 2022 AJ Bell, one of the UK’s largest investment platforms, has continued to see customer growth following the pandemic-induced boom in retail investing, however pre-tax profits have slipped. The platform’s customer base has grown by more than 35,500 in the six months to 31 March, to a total of 418, 309 – having already increased by [...]
Slowing business activity strengthens UK recession risk May 26, 2022 Swelling costs and fears over rampant inflation forcing consumers to slash spending are eroding British businesses’ optimism, casting doubt over whether the country can avoid a recession, two surveys published today reveal. Households are cutting discretionary purchases in response to living costs climbing at the quickest pace in four decades, research by the Confederation of [...]
‘Impact tech’ investment jumps to £960m in 2022 but slowdown looms, analysts warn May 26, 2022 Funding into so-called ’impact tech’ start-ups in the UK has jumped over 30 per cent this year despite soaring inflation and market turbulence beginning to put the squeeze on venture capital investors, fresh data has revealed.