Experts say energy bills will stay high despite gas price slump October 18, 2022 Don't expect energy bills to revert to normal levels this winter, warn experts, despite the recent easing of gas prices.
Rees-Mogg opens talks with British Steel owner over bailout and jobs October 17, 2022 The business secretary has reportedly opened formal talks with the owner of British Steel about a taxpayer bailout and job cuts. As first reported by Mark Kleinman for Sky News, Jacob Rees-Mogg wrote to parent firm Jingye Group last week and agreed that British Steel would maintain its current operations and 4000-strong work force during the [...]
Trouble ahead in April as experts unveil new gloomy price cap predictions October 17, 2022 Energy bills will rise to a whopping £4,348 per year in April, warned Cornwall Insight, without more support for households.
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]
Pubs and brewers disappointed by alcohol duty reversal ahead of ‘toughest winter in history’ October 17, 2022 Pubs will be “hit extremely hard” this winter after the government scrapped an upcoming alcohol duty freeze, industry chiefs said. The duty freeze was one of many policies consigned to a bonfire of tax cuts from newly-appointed Chancellor Jeremy Hunt on Monday. Announced just a few weeks ago by Hunt’s predecessor Kwasi Kwarteng, the move would [...]
Exclusive: ‘Price cap not fit for purpose’ as Government slashes support October 17, 2022 The energy price cap is "no longer fit for the purpose" and should be reviewed, argued energy specialist Cornwall Insight.
Exclusive: Over 50,000 small businesses in London collapse as SME bloodbath rages October 17, 2022 Swelling energy bills and a softening UK economy have sparked a surge in small business closures in London, exclusive figures shared with City A.M. reveal. The number of SMEs that have disappeared in the capital swelled to 53,880 this year, up sharply from 37,350 in 2017, according to analysis of Office for National Statistics figures [...]
Dealmaker’s Spotlight: Evercore October 17, 2022 Datasite recently spoke with Alexander Asher, Vice President, Consumer-Retail Team at Evercore, to hear his thoughts and insights on market conditions, trends, and technology. Evercore is a premier global independent investment advisory firm. Founded in 1995, the firm has advised on over US$4.7 trn M&A and restructuring transactions. Headquartered in New York, it has 17 advisory [...]
A stormy outlook has put small businesses’ plans for net zero in a precarious bind October 17, 2022 In the face of a stormy global economic and geopolitical outlook, leaders from across the world will gather next month at the United Nations Climate Change Conference in Egypt. High inflation, soaring energy bills and Russia’s continuing military aggression against Ukraine have all, understandably, dominated the political agenda in recent weeks. Amid this backdrop, the [...]
Truss and Hunt to oversee protracted recession, EY Item Club forecasts October 17, 2022 The UK is on course for a long recession that will last from this winter through to next summer, underscoring the tough challenge facing prime minister Liz Truss and her new chancellor Jeremy Hunt. Rising inflation compounded by higher interest rates will force the economy into reverse in the current quarter until the summer of [...]