Theo Paphitis: Dragons’ Den star says the high street is going nowhere and neither is he June 14, 2022 Theo Paphitis is not in any hurry to hang up his boots. After decades running the show at companies from lingerie to stationery firms, one might be mistaken for thinking the Dragons’ Den star, retail titan and former Millwall chairman may be mulling a change of pace. However, Paphitis tells City A.M. he has “a [...]
Europe funds Russian war efforts as biggest buyer of Kremlin-backed fossil fuels June 13, 2022 Fossil fuels are filling the Kremlin's war chest and despite its sanctions, the EU remains its biggest buyer of energy supplies.
Unexpected economic reversal indicates UK is ‘perilously close to a recession’ June 13, 2022 An unexpected reversal in the UK economy indicates the country is “perilously close to a recession,” according to City economists. Gross domestic product (GDP) in the UK fell 0.3 per cent in April, marking the second month in a row the economy has shrunk, according to figures published today by the Office for National Statistics [...]
UK economy shrinks 0.3 per cent amid recession worries June 13, 2022 The UK economy shrank in April, for the second month in a row, amid fears of a recession. Gross domestic product (GDP) declined by 0.3 per cent in April, following a 0.1 per cent drop in March, according to figures published by The Office for National Statistics on Monday morning. The drop was fuelled by a [...]
Tech week a chance to celebrate London and the City’s most powerful urge: competition June 13, 2022 It is more than a little tempting to think at the moment that nothing in Britain works very well. Anybody with tickets to the Rolling Stones or the cricket in Headingley next week will face a rail strike, families looking to get away for a well-deserved break will need to carry a week’s supplies just [...]
Octopus Energy locks horns with Centrica over market reforms as bidding war for Bulb lights up June 12, 2022 Two of the UK's biggest energy firms remain at loggerheads over key proposals to fix the industry by ringfencing customer balances.
HSBC could be in line for £22bn boost from break-up, researchers claim June 12, 2022 HSBC is missing out on £22bn of shareholder returns by not spinning off its Asian operation as a separate business, according to new research commissioned by the major investor pushing for a breakup of the bank.
Nine in 10 Londoners struggle to pay the rent as cost of living onslaught eats up tenants’ budgets June 9, 2022 Rental cost increases are contributing to a strain on household finances for nearly nine in 10 tenants, with many facing further cutbacks should their household costs continue to increase. 86 per cent of all tenants confirmed the cost of living crisis is hitting them in their wallet, putting a further strain on Londoners’ household finances. [...]
Insurers need more data to properly model climate risk, Bank of England insurance chief says June 8, 2022 The UK’s insurance sector lacks “comprehensive and high quality data” it needs to properly evaluate climate risk, the head of the Bank of England’s (BoE’s) insurance division has said. Speaking at the Association of British Insurers’ (ABI’s) climate summit 2022, Stefan Claus, the head of the BoE’s general insurance division, said insurers are struggling to [...]
UK to clock weakest growth in rich world amid economic ‘stagnation’ June 8, 2022 The UK will clock the weakest growth in the rich world caused by households retrenching amid the worst cost of living crisis in a generation, according to new forecasts released today. Rampant inflation driven by accelerating global energy prices as a result of Russia’s invasion of Ukraine and ongoing supply chain disruptions caused by China’s [...]