Tory leadership race descends into all out war in televised debate July 17, 2022 The Conservative leadership race descended further into vicious mudslinging today as the remaining five candidates tore shreds off each other for 60 minutes in a televised debate. Frontrunners Rishi Sunak and Liz Truss had a number of bruising encounters, with the ex-chancellor accusing the foreign secretary of peddling “something for nothing economics” that are closer [...]
Union boss says crippling rail strikes to go ahead as no one is ‘coming to the table’ July 17, 2022 Crippling rail strikes are set to go ahead in just two weeks as train company bosses are not “coming to the table”, according to the head of the UK train drivers’ union. Mick Whelan, general secretary of the Associated Society of Locomotive Engineers and Firemen (Aslef) union, said “when train drivers don’t come to work, [...]
Tory leadership: Raab hits out at Truss’ record as Treasury minister July 17, 2022 Dominic Raab has questioned the record of Tory leadership hopeful Liz Truss when she worked as a Treasury minister in response to her attacks on Rishi Sunak. The Deputy Prime Minister, a Sunak supporter, said “people can see whether spending and headcount in the civil service went up or down” when Truss worked as chief [...]
Week ahead: More inflation woe to pile pressure on Bank of England to act July 17, 2022 Inflation bumped higher last month, reinforcing pressure on the Bank of England to motor through rate hikes, according to City analysts. London’s premier FTSE 100 index notched a poor performance last week, losing a shade over 0.5 per cent to finish at 7,159.01 points. The domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Brits turn to ice cream, paddling pools, BBQs and fans as temperatures set to break record today July 17, 2022 Sales of paddling pools and fans are soaring and ice cream is set to break a record for the amount bought in a single week as Brits prepare for more heat with temperatures continuing to rise. With an “amber” extreme heat warning in place for much of England and Wales today, tomorrow and Tuesday, Tesco [...]
Rio Tinto warns of heavy $400m hit to earnings as Covid-19 hampers production July 16, 2022 Rio Tinto has warned COVID 19-related labour shortages and rising inflation would damage its earnings in the second half of 2022.
Sunak and Truss clash over taxes in fiery TV debate as Tory leadership race heats up July 16, 2022 Two of the frontrunners to be the next Prime Minister locked horns over taxes during a fiery leadership debate.
Shakeout continues as the price of Bitcoin shuffles sideways July 15, 2022 Bitcoin price is holding a steady line at $20,800 - up five per cent over 24 hours, but down three per cent across the week.
NFT marketplace OpenSea lays off 20 per cent of staff as crypto crash persists July 15, 2022 OpenSea, the world’s biggest NFT marketplace, has cut 20 per cent of its staff as the severe crypto rout hits firms across the industry. CEO Devin FInzer announced the cuts yesterday, saying, “We have entered an unprecedented combination of crypto winter and broad economic instability, and we need to prepare the company for the possibility [...]
Recession fears loom over FTSE 100 as IMF warns economic outlook has ‘darkened’ July 14, 2022 London markets flopped today driven by investors fretting over the global economic downturn. The capital’s premier FTSE 100 index dropped 1.63 per cent to 7,039.81 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, tumbled 1.23 per cent to 18,480.66 points. Recession fears have led [...]