UK car production falls for eighth consecutive month following chip shortages March 25, 2022 The UK’s automotive output fell 41.3 per cent in February as chip shortages don’t seem to end. According to data from the Society of Motor Manufacturers and Traders (SMMT), car production went down to 61,657 units produced, the worst February since 2009. Production for the domestic market went down 35.8 per cent, while overseas markets [...]
As we pay for Putin’s energy war, we must also protect our future supplies September 14, 2022 Liz Truss’ government has finally arrived as the country heads towards a pivotal winter. There’s been ceaseless debate about what its much anticipated support package should include, but the fundamentals were always clear. First, it is expensive to protect ourselves from Russian manipulation of gas markets we rely upon. Second, we must put all efforts [...]
The City View: Analysing the G7 plan to phase out Russian oil May 9, 2022 Today Andy Silvester talks to City A.M. reporters Nicholas Earl and Leah Montebello. They go through the G7’s decision to phase out Russian oil, historically elevated gas prices, unpick Snapchat owner Snap Inc.’s plan to compete with the likes of TikTok, and break down Uber’s CEO Dara Khosrowshahi’s recent letter to employees. And in the [...]
Number 10 ‘prioritising’ sanctions on Russian banks over Kremlin-linked oligarchs March 3, 2022 The UK is prioritising sanctions on Russian financial services firms instead of oligarchs because it will have a larger effect on stopping the “Russian war machine”, according to Number 10. Boris Johnson has been criticised in the past few days for not levelling more sanctions against Kremlin-linked oligarchs, particularly Chelsea owner Roman Abramovich, as the [...]
The City View: Victoria Scholar on Sunak’s windfall tax and Cowgill exit May 26, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through Rishi Sunak’s unveiling of a windfall tax today, the Fed’s plans to hike rates by 50 basis points in June and July, Elon Musk’s painfully slow acquisition of Twitter, and JD Sports founder and CEO Peter Cowgill’s shock departure [...]
UK government is failing to match words with action in stamping out dirty money, MPs say June 30, 2022 The UK government is failing to match its rhetoric with real efforts to crack down on dirty money, MPs have warned. The government is continuing to let the UK become a “safe deposit box” for morally bankrupt billionaires, despite its rhetoric around “clamping down” on Russian money, the Foreign Affairs Committee said. The committee said [...]
Inflation here, inflation there – when will governments see Bitcoin fixes this? May 26, 2023 Jason Deane rounds up the narratives and looks at the questions facing the economic world as one answer endures... 'Bitcoin fixes this'.
Nikita Mazepin: I lost my seat in Formula 1 because of ‘cancel culture against Russia’ April 7, 2022 Russian motor racing driver Nikita Mazepin says he is a victim of “cancel culture” following his sacking by Formula 1 team Haas. Mazepin lost his seat at the US outfit on the eve of the 2022 season when Haas cut all ties with Russia in the wake of its invasion of Ukraine. Haas’s main sponsor [...]
The City must not stand by in the face of dirty money on our streets and in our banks March 7, 2022 Today I and others from across the City of London will gather to stand in solidarity with the people of Ukraine as its national flag flies above us. It is now over a week since Russia’s violent invasion of Ukraine began and the deeply distressing scenes being played out across the country have shocked us [...]
UK says it may take up to 200,000 Ukraine refugees amid Kremlin promise of ceasefire after ‘relentless’ Russian shelling March 8, 2022 UK Defence Secretary Ben Wallace said this morning the UK may take up to 200,000 refugees from Ukraine, various various schemes and visa routes. Wallace told Sky News around 200,000 Ukrainian nationals may be able to settle in Britain. His remarks come after the Kremlin promised again this morning safe corridors for civilians. However, the [...]