Russia takes its war with Ukraine to London’s High Court as battle begins over a soured $3bn bond deal March 16, 2023 The UK’s top court yesterday ruled the Ukrainian government should be given the opportunity to face the Kremlin in London’s High Court, in a more than $3bn dispute over a 2013 bond deal. The Supreme Court’s ruling is set to see the UK’s High Court become the new front for the continuing fight between Russia [...]
Jeremy Hunt tax hikes and weak economy to swipe £10k from Britons while wealthy reap pension rewards March 16, 2023 Britons are poised to miss out on £10,000 of income over the coming years after Chancellor Jeremy Hunt lifted taxes to their highest sustained level in history, experts have predicted. When combined with sluggish economic growth , the Institute for Fiscal Studies (IFS) has estimated that the tax take means real incomes will be at [...]
FTSE 100 close: Global banking rout weighs on index as budget does little to lift sentiment March 15, 2023 London’s FTSE 100 slumped this afternoon as the banking sector faced a major sell-off following concerns over the future of Credit Suisse. The capital’s premier index closed 3.83 per cent lower at 7,344.45 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.63 per [...]
Spring Budget 2023 – as it happened: Childcare costs, Brexit pub guarantee and plan for ’12 Canary Wharfs’ March 15, 2023 As Jeremy Hunt unveils his first full Spring Budget, we bring you all the latest news, opinion, analysis and reaction. Budget day – Live feed Support for parents with young children: Jeremy Hunt announced a series of reforms, starting “with the supply of childcare.” “We have seen a significant decline in childminders over recent years [...]
The Lord Mayor Joins City Philanthropists for the Launch of City Giving Day March 15, 2023 The Lord Mayor of the City of London Alderman Nicholas Lyons and Lady Mayoress were joined by a number of high-profile guests and speakers at Mansion House this week, for the launch of City Giving Day. Now in its 10th year, City Giving Day is an annual event hosted by The Lord Mayor’s Appeal uniting [...]
Daily Mail publisher DMGT appoints new chief executive weeks after announcing plans to make ‘some reductions’ in staff March 14, 2023 The Daily Mail’s parent company has announced Tim Collier as its new chief executive. Collier joined the Daily Mail and General Trust (DMGT) in 2017 as its chief financial officer, being at the centre of its decision to go private in 2012. He previously worked as CFO of Thomson Reuters Financial and Risk Business. Earlier [...]
As a new FCA chair steps up, we need a crack down on offshore firms’ lax rules March 14, 2023 Hopefully, guided by a new chair, the FCA will make progress in holding offshore firms who don't follow the rules to account, writes Sadiq Bhatti
Phoenix: Insurer hikes dividend after volatile markets hit investments and share price March 13, 2023 British insurer Phoenix Group today posted a £1.23bn loss as volatile markets hit the value of the insurance company’s investment portfolio. Shares in the FTSE 100 company fell sharply on the news as Phoenix pointed to the “challenging economic backdrop” after noting it generated 12.5 per cent less cash than in 2021 The insurer, however, [...]
Direct Line shares crash as winter cold snap and inflation leave its results ‘as ugly as they can be’ March 13, 2023 Direct Line today posted a £45m loss for the year 2022 as the insurer suffered a hit from soaring inflation, extreme weather, and market volatility, in what analysts described as one of the “worst years” in the Bromley firm’s history. Shares in Direct Line fell by 5.79 per cent on the news, as the insurer [...]
Health Secretary invites junior doctors for pay talks ahead of 72-hour strike March 11, 2023 The Health Secretary has invited junior doctors for pay talks in an attempt to avert next week’s three-day strike amid a bitter dispute over pay. Steve Barclay said he had proposed negotiations “on the same basis other health unions accepted”, after planned industrial action by tens of thousands of key workers was suspended when the [...]