The City View: Offshore Energies UK CEO on deleterious effects of a windfall tax May 25, 2022 Today Andy Silvester chats to Deirdre Michie, CEO at Offshore Energies UK. They unpick the windfall tax, the risk it poses for smaller energy firms and the sector in general, the state of the energy industry, and the seemingly lackadaisical speed of the energy transition. In other news: M&S is leaving its Russian franchise business, [...]
Petrol prices rise to record levels as RAC calls on government to provide more support for drivers May 25, 2022 Petrol prices climbed to record levels for the third consecutive day yesterday, with soaring oil prices putting more pressure on consumers.
Sue Gray report: Johnson says UK must ‘move on’ as he takes ‘full responsibility’ for partygate May 25, 2022 Boris Johnson has said now is the time to “move on” from the partygate scandal, after saying he takes “full responsibility” for the brazen Covid rule-breaking uncovered in Sue Gray’s report. The Prime Minister told the House of Commons that he had “no knowledge” that Covid rules were broken on eight occasions, as deliberated by [...]
More Brits feel disengaged, demotivated or anxious as rising cost of living feeds stress levels May 25, 2022 Our headlines in recent weeks have been dominated by the latest inflation figures, reaching a 40 year high of 9 per cent, as well as the cost of living crisis, which is raging on. As the nation and the media come to terms with the prospect of a recession, one crucial impact of the UK’s [...]
Average mortgage repayments approaching 33 per cent of monthly income akin to 2008 financial crash levels May 25, 2022 Homeowners are spending more to live in their house than at any point in the last 15 years, with mortgage repayments equalling almost 33 per cent of monthly income. The cost of living crisis and increase in interest rates has put renewed pressure on property-owners, with house prices soaring and the cost of repayments nearing [...]
UK economy is ‘grinding to a halt’ amid cost of living crisis May 25, 2022 The UK economy is “grinding to a halt” as a tightening cost of living squeeze sends a chill through private sector activity, reveals a closely watched survey. Households are cutting spending in response to rampant inflation eroding their budgets, weighing heavily on the UK’s services sector, the country’s economic engine. Activity among services firms dropped [...]
Price cap to spike again: Watchdog warns worst is still to come for energy prices May 25, 2022 Already sky-high energy prices are set to spike again in October, according to the energy watchdog, taking the power out of the UK's growth prospects.
Many lessons can be learned from drink driving and smoking laws to tackle obesity May 25, 2022 Obesity has been a hot topic over the past week. The government announced it would delay its plan to implement restrictions on junk food marketing and volume-based price promotions. These had been presented as key elements in the strategy to reduce obesity. With a timing which was either impeccable or pure good luck, the Cancer [...]
There is a fundamental flaw in the crypto economy May 24, 2022 VJ Angelo, CEO of Inspira Wealth, highlights cryptocurrency's main flaw - with some good news and bad news.
Price cap will rise to £2,800 per year this winter warns Ofgem May 24, 2022 Households should brace themselves for another painful hike in their energy bills this autumn, revealed chief executive Jonathan Brearley.