Nervous markets scratch their heads over lockdown pain due to confusing China Covid policy November 7, 2022 Despite a big relief rally at the back end of last week, US markets still couldn’t reverse the losses of the previous three days, closing lower for the first time in three weeks, although for European markets it was a somewhat different story. The DAX finished higher for the fifth week in succession, posting its [...]
UK minister travels to Taiwan in move that may inflame China tensions November 7, 2022 A UK minister will hold trade talks in Taiwan today in a move that may inflame fresh tensions with Beijing. Trade minister Greg Hands will meet with Taiwan President Tsai Ing-wen during the two-day trip to Taipei as the UK tries to close a post-Brexit deal with the island nation. The UK does not recognise Taiwan’s [...]
Hunt faces potential Tory backlash as he draws up plans to raise £50bn November 6, 2022 There are growing government fears about a potential Tory backlash against Jeremy Hunt’s fiscal statement as he looks to find ways to raise £50bn. Hunt will raise taxes and cut future real-terms spending in his 17 November autumn statement, with the chancellor looking at proposals to freeze Income Tax thresholds as a part of a [...]
Sunak to raise imprisoned British citizen to Egypt’s leaders at Cop27 November 6, 2022 Rishi Sunak has vowed to “raise” the case of imprisoned British citizen Alaa Abd El-Fattah with Egypt’s leaders during next week’s Cop27 climate summit. The Prime Minister wrote to the family of the jailed writer, who is on a hunger and water strike, to tell them he was “totally committed to resolving [his] case” and [...]
Whitehall launches investigation into ‘profiteering’ by energy firms November 6, 2022 Whitehall officials have launched a probe into alleged profiteering by energy firms, with claims they are not passing on the benefits of recent government interventions. The government last month launched a six-month energy price cap for businesses to help them survive the continued increases in global energy prices. The Sunday Times reports that the Department [...]
Global food prices drop to lowest levels since invasion of Ukraine November 5, 2022 Global food prices have fallen to their lowest levels since Russia’s invasion of Ukraine, UN data shows. Food prices have fallen back down to levels last seen at the start of 2022, before Russia’s February invasion of the breadbasket of Europe caused food prices to surge, data from the United Nation’s Food and Agriculture Organization [...]
China doubles-down on zero-Covid policy November 5, 2022 China is set to continue with its current approach to tackling Covid-19, Chinese government officials said on Saturday. China will persevere with its “dynamic-clearing” approach to tackling Covid, officials from the China National Health Commission told a news conference today. The statements follow claims made by a former Chinese disease control official, at a conference [...]
Badenoch hits back at claims India-UK trade deal could hike prices for NHS after agreement is leaked November 5, 2022 Trade secretary Kemi Badenoch has hit back at claims the NHS could be set to pay higher costs for drugs as a result of a UK-India trade deal. It has emerged that a leaked chapter of the free trade agreement (FTA) between UK and India contains provisions that suggests, amongst other things, pharmaceutical companies would be allowed [...]
RMT suspends week of planned rail strikes in potential breakthrough November 4, 2022 The UK’s largest rail union has suspended a week of planned rail strikes, set to begin tomorrow, in what could be a breakthrough in negotiations. The National Union of Rail, Maritime and Transport Workers (RMT) today said it would not go ahead with strikes on 5, 7 and 9 November, but that the “current dispute [...]
Hunt mulls change in non-dom tax breaks for autumn fiscal statement November 4, 2022 Treasury officials are looking at potential changes to the UK’s rules on non-domiciled tax status as a part of Jeremy Hunt’s autumn fiscal statement later this month. The chancellor has reportedly tasked officials on the Treasury’s high net worth individuals policy team to look at ways to cut down on tax breaks for non-doms as [...]
