Barclays kicks shareholder goodies into long grass again after $15bn trading blunder April 28, 2022 British banking giant Barclays has kicked its share buyback programme into the long grass for the second time after it booked huge costs to draw a line under an unprecedented trading blunder, it announced today. The lender last month said it had sold more than $15bn (£12bn) of financial products than it was allowed to, [...]
UK high street lenders whipsaw on muddled day of trading in the City April 27, 2022 The UK’s biggest high street lenders whipsawed in the City today after giving up morning gains that initially boosted London’s top indexes. The capital’s premier FTSE 100 index closed 0.53 per cent higher at 7,425.61 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]
Calls for mandatory levy resurface as industry clamps down on gambling harms and cost of living crunch April 27, 2022 GambleAware has called for a mandatory one per cent levy on post winning earnings from gambling operators as the government heads for industry reform.
The City View: August CEO Mélie Dunod on rethinking holiday home co-ownership April 27, 2022 Today Andy Silvester talks to Mélie Dunod, CEO and co-founder of holiday home co-ownership firm August. She talks us through the company’s inception; why their equity purchase model allows for better and more transparent co-ownership; and the post-Covid re-examination of lifestyle purchases. And in the news: law giant Eversheds Sutherland has re-entered Russia, striking a [...]
Exclusive: Millions of London tenants should brace themselves for rent increase of £1,000+ this year April 27, 2022 Millions of Londoners who currently rent in the capital face an increase in their housing costs of more than £1k this year. As energy bills climb and the cost of living crisis rages, London remains by far the least affordable region of the UK rental market, with the average tenant currently paying £21,140 per year. [...]
MOT could be relaxed under new government plans April 27, 2022 The annual MOT checks could be relaxed under government plans to help Brits navigate the cost of living crisis. Transport secretary Grant Shapps today told the Commons’ Transport Select Committee he didn’t exclude out relaxing the rules, but any changes would need to meet a “very rigorous safety standard.” “If you look at things like [...]
Starmer goes after PM on slow UK economic growth April 27, 2022 Sir Keir Starmer has attacked Boris Johnson for his record on the economy, after projections recently put the UK at the bottom of the G7 for economic growth. The Labour leader also hit out at Johnson for “his choice to be the only leader in the G7 to raise taxes” post-Covid and for “burying his [...]
400k out of workforce due to health inequality which could lead to £8bn economic drag April 27, 2022 The government has said tackling health disparities is a “priority’, after a new report revealed Illness and covid has driven an estimated 400,000 people from the workforce, leading to a possible £8bn drag on the economy. 1m workers are missing from the workers from before the pandemic, with 400,00 due to illness, including long-Covid, according [...]
Sigh of relief in the City as govt calls idea of windfall tax on oil and gas profits ‘disastrous’ April 27, 2022 The Justice Secretary this morning dismissed Labour’s plan for a windfall tax on oil and gas companies to ease the cost-of-living crisis, calling the idea “disastrous”. Dominic Raab told Sky News: “If you look at Labour’s policy, you asked about it – of a windfall tax – that would damage investment in energy supplies we [...]
Elon Musk wants free speech on Twitter? Time to meet Nadine Dorries April 27, 2022 If Musk thought finding financing would be the most complicated part of the Twitter deal, he hasn’t met Nadine Dorries.