The year the music died? What energy bills and recession will mean for gigs November 21, 2022 Gigs have always been a great way to escape from the toils of everyday life – a few friends, usually a few drinks and great bands. But, what does a live music scene look like once you factor in spiralling inflation and rocketing energy bills for venues and consumers who can no longer afford to [...]
Tax hikes will cause national pain but London can still build its own growth plan November 21, 2022 Jeremy Hunt faced a difficult balancing act in the Autumn Statement last week. The state of affairs he outlined, albeit unsurprising, was still a stark warning about the precarious nature of our economy: a £55bn black hole in the nation’s finances. We now know how the government will seek to restore parity in the national [...]
Investment regime vital to getting the UK growing once again November 20, 2022 In a few pages’ time, you’ll read from Chris Hayward – the City of London Corporation’s Policy Chair – on the body’s latest project, moving two of London’s historic markets to a new location. Billingsgate will move from Canary Wharf, and Smithfield from Farringdon, to a new super-site in Barking. It’ll create jobs in east [...]
Accelerate pension rules overhaul to spur investment, says Phoenix chief November 20, 2022 Ministers must accelerate reform to pension and insurance rules in order to unlock a wave of private investment from the City, the chief of Phoenix Group has said.
Collapsed crypto exchange FTX owes top 50 creditors $3.1bn November 20, 2022 Collapsed crypto exchange FTX has revealed it owes its 50 biggest creditors nearly $3.1bn, as it presses ahead with bankruptcy proceedings in the US.
Public finances in view after Hunt’s £55bn of spending cuts and tax hikes November 20, 2022 Traders will be keen to examine fresh public finances figures out this week to get a sense of the UK’s debt pile that pushed chancellor Jeremy Hunt into £55bn of spending cuts and tax hikes last week. London’s premier FTSE 100 index registered a solid performance last week, adding 0.92 per cent to close at [...]
Scottish Power boss hammers huge levy on electricity generators November 17, 2022 One of the leading figures in the energy industry has slammed the Government’s decision to impose a 45 per cent tax on electricity generators. Keith Anderson, chief executive of Scottish Power, warned the new Electricity Generator Levy will create a “five-year long corridor of uncertainty for investors” which risks undermining the UK’s green ambitions. He [...]
Government slashes bank surcharge in boost for the City November 17, 2022 The government has slashed a surcharge on bank profits to three per cent today in a bid to keep the UK's finance industry internationally competitive.
FTX’s new bankruptcy boss slams ‘complete failure of corporate controls’ November 17, 2022 The new chief of collapsed crypto exchange FTX has slammed a “complete failure of corporate controls” and “absence of trustworthy financial information” at the firm, in court filings published today.
Hunt hits renewables with levy and boosts windfall tax in £30bn-plus tax hike November 17, 2022 Hunt has announced a £14bn tax grab on domestic energy producers, bringing renewables into the toughened regime for the first time.