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.
Sunak: If you’re rich like me, give windfall tax of £400 to charity May 27, 2022 Rishi Sunak has said people should follow his lead and give the government’s £400 energy bill assistance to charity. The chancellor of the exchequer made his comments this morning after it was announced everyone will get a grant as part of a £21bn living support package. This comes after pressure on the government to impose [...]
Oxford Street footfall still 52 per cent lower than pre-pandemic, making it the UK’s worst hit High Street May 27, 2022 Footfall on London’s Oxford Street is still 52 per cent lower than pre-pandemic levels – the worst hit high street across the UK, according to fresh retail data shared with City A.M. this morning. London continues to be impacted by hybrid working and less commuting into the city than previous years, as well as the [...]
To understand what London needs, we should look at the history of spatial poverty May 27, 2022 In the “Republic”, Plato wrote that “any city, however small, is in fact divided into two, one the city of the poor, the other of the rich”. This still rings painfully true today, especially if the city in question is London. The capital is a uniquely unequal place: it hosts some incredibly wealthy people, as [...]
Costs of EV rapid charging increases by a fifth following surge in energy prices May 27, 2022 The cost of rapidly charging an electric vehicle (EV) has increased by a fifth in the last eight months due to soaring energy prices. Data from automotive insurance company RAC reported that since September public rapid chargers have increased their rate by 7.81p per kilowatt hour (kWh) to 44.55p kWh. This means that completing an [...]
Another wasted crisis as government shows no appetite for growth May 26, 2022 It has become fashionable to say in recent months that principles don’t seem to matter in British politics anymore. Most of that criticism is in the aftermath of a partygate scandal that, for all of its jaw-dropping detail, is not of grand importance in the scheme of things. We will now lay that criticism at [...]
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 [...]
Govt warned cost of living crisis will lead to ‘tsunami of fraud’ as criminals prey on struggling Brits May 26, 2022 THE cost of living crisis is likely to fuel a surge in fraud and online scams, a property group warned this morning. The National Association of Property Buyers fear criminals will aim to “cash in” on vulnerable Britons looking to save or make money over coming months. The property sector will be a prime target [...]
Sunak hits energy firms with windfall tax to pay for £15bn cost of living package May 26, 2022 Rishi Sunak has hit British oil and gas firms with a 25 per cent windfall tax to pay for a £15bn package to help households with the cost of living crisis. The chancellor’s interventions this year will see every household in the UK given £550 to help pay their energy bills, but with the country’s [...]
Winter of discontent: Price cap to peak at over £2,800 next January May 26, 2022 Cornwall Insight has warned the price cap could rise to over £2,800 per year in January if the mechanism moves to a quarterly model.