Gas prices ease as Norway’s government steps in to stop strikes from offshore workers July 6, 2022 Gas prices have dropped across Europe after the Norwegian government stepped in to end strike action from offshore workers.
London economy squeezed by inflation grip in sign of looming UK-wide slowdown May 9, 2022 London’s economy is being choked by intensifying inflationary pressures in a sign that the rest of the UK is headed for a period of weaker growth, reveals a fresh survey released today. Concerns about a reduction in consumer spending in response to the worst cost of living crunch in 30 years has pushed London business [...]
UK and European energy price freezes may trigger blackouts, Goldman warns September 12, 2022 UK and European governments freezing energy prices risks blanketing the Continent in power blackouts, a Wall Street investment bank has warned today. Keeping energy bills artificially low is likely to stimulate energy demand, possibly causing supplies to run dry, Goldman Sachs said in a note to clients. “With interventionist policies announced so far prioritising capping [...]
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 [...]
BDO follows Big Four auditors in distancing itself from Russia March 9, 2022 Belgian auditor BDO has become the latest big accountancy firm to distance itself from Russia and Belarus, in response to Russia’s invasion of Ukraine. In a statement, the firm said it would cut all existing ties with sanctioned entities, including Russian and Belarusian state-owned companies and sanctioned individuals. The Belgian auditor noted that its Russian [...]
UK impounds aircraft following new round of aviation sanctions against Russia March 9, 2022 Transport Secretary Grant Shapps said today UK authorities had impounded an aircraft following a new round of aviation sanctions against Russia. “There is one such aircraft on the ground at the moment at Farnborough that I’ve essentially impounded whilst we carry out further investigations for the last few days – and it’s very important that [...]
Labour calls on government to ban UK luxury goods exports to Russia March 3, 2022 Labour is calling on the government to ban the export of British luxury goods to Russia as a part of the sanctions package levelled against Vladimir Putin’s regime. Shadow international trade secretary Nick Thomas-Symonds said the government must clamp down on companies like Burberry and Vivienne Westwood selling their goods to Russia to ensure “Putin [...]
Why is the FTSE 100 nearing a record high with a recession looming? It ain’t the economy, stupid January 24, 2023 The FTSE 100 is becoming one massive hedge fund. That’s why it’s doing so well when all the doomsters have warned the UK is headed for a long, albeit shallow, recession over the next year. Of course, the stock market isn’t the economy. How many high street coffee shop owners do you know that worry [...]
Fitch warns investors to brace for heavy losses on Russian debt as default looms March 9, 2022 One of the world’s top credit rating agencies has told investors in Russian debt to brace for severe losses. Fitch last night downgraded Moscow sovereign debt to a C rating, meaning the risk of a Russian default is “imminent”. President Vladimir Putin’s decision to order all interest payments on sovereign government debt held by foreign [...]
Self-confidence has left Nato and Britain unprepared for a threat against the alliance April 22, 2022 Earlier this week, General Sir Richard Barrons warned the Defence Select Committee that the United Kingdom (UK) would not be ready if Russia attacked British territory or that of Nato allies. Since 1949, the government has pledged to defend the North Atlantic Treaty Organisation alliance. Although one nuclear-armed peer is unlikely to attack another, the [...]