Cabinet not united: Minister Kit Malthouse breaks ranks and calls on Chancellor Rishi Sunak to cut taxes May 9, 2022 The government’s Minister of State for Crime and Policing Kit Malthouse has called on the chancellor, Rishi Sunak, to cut taxes as soon as possible. The Chancellor should roll out plans to reduce taxes to tackle the cost of living crisis, Malthouse said during an interview on TalkTV. “The Chancellor has already signalled his desire [...]
Rishi Sunak hires City titan Hogan Lovells to grapple with post-Brexit legal complexity May 8, 2022 The Chancellor has outsourced key areas of the Treasury's post-Brexit legal work as the in-house legal department struggle to deal with the complexity.
Tech Weekly: Matt Hancock on crypto ambitions and lockdown decisions May 6, 2022 This week City A.M. reporters Lily Russell-Jones and Charlie Conchie sit down with Conservative MP and former Health Secretary Matt Hancock. They chat about his outspoken views on crypto, regulation, and the need for accessibiity when it comes to crypto investing; go through his post-Cabinet ambitions; and unpick his decision-making at the height of the [...]
Beergate: Durham police investigating Keir Starmer over alleged lockdown breaches after ‘receipt of significant new information’ May 6, 2022 Keir Starmer is being investigated by Durham Police over the so-called ‘beergate’ lockdown breach in April last year. Durham Constabulary issued a statement on Friday saying it is looking into the alleged rule-breaking after the “receipt of significant new information”. The force previously said they did not think he had broken rules over a gathering [...]
Crypto start-ups drive fintech funding boom in first quarter May 6, 2022 Fintech companies raised $29.3bn in the first quarter of the year driven by a series of high value crypto deals, fresh data has revealed.
Putin ‘running out of missiles’ amid claims quarter of Russian Army now lost: Kremlin loses momentum in Donbas May 6, 2022 Vladimir Putin could be running out of missiles and armaments because of how much his forces have had to fire during the Ukraine war so far, according to the head of Britain’s Armed Forces. The Chief of Defence Staff, Admiral Sir Tony Radakin, said Russia has now lost 25 per cent of all its forces [...]
Consumer watchdog urges energy users to boost energy efficiency to drive down household bills May 5, 2022 Uswitch.com has called on households to focus on energy efficiency and ramping up insulation to ease the pressure of rising energy bills.
UK hurtling toward recession on double-digit cost of living squeeze, Bank of England warns May 5, 2022 The UK is hurtling towards a recession sparked by households being gripped by the tightest cost of living squeeze since the early 1980s, revealed fresh forecasts by the Bank of England today. The economy will struggle to eke any growth for most of next year, dragging the UK into a 0.25 per cent contraction in [...]
RIshi Sunak’s father-in-law’s company Infosys is still active in Russia May 5, 2022 The Indian IT giant Infosys, which chancellor Rishi Sunak’s wife has a £400m stake in, is still reportedly operating in Russia. The company committed to “urgently closing down its operations” in the country last month, but the Mirror reported this week it was still working in Moscow. When approached for comment, Sunak’s wife Akshata Murty [...]
Shell profits fuel calls for windfall tax: Record results come days after BP bumper earnings May 5, 2022 Shell has further fuelled demands for a windfall tax on the sector as it revealed record first-quarter profits thanks to soaring oil and gas prices, just days after bumper earnings from rival BP. The oil giant posted better-than-expected underlying earnings for the first three months of 2022, at £7.2bn – nearly three times the £2.5bn [...]