Rishi Sunak is ‘pragmatic’ about imposing windfall tax on soaring energy profits as Brits’ bills skyrocket May 13, 2022 Chancellor Rishi Sunak said he was “pragmatic” about possibly imposing a windfall tax on the soaring profits of oil and gas giants as customers’ bills rise. Prime Minister Boris Johnson has shown firm opposition to the raid but has conceded “we’ll have to look at it” after BP chief executive Bernard Looney said his investment [...]
Advantage boss exclusive: ‘We need to showcase travel industry’s attractiveness to get talent back’ May 13, 2022 The UK travel industry needs to revamp its image as an exciting yet stable industry to work in if it wants to put an end to its recruitment difficulties. According to Julia Lo Bue-Said, chief executive at travel agent consortium Advantage, post-pandemic, the UK workforce sees travel and tourism as a very uncertain industry. “The [...]
Building nuclear power plants will only drive up energy bills even further, Business Secretary Kwasi Kwarteng warns May 13, 2022 The Government’s ambitious nuclear power push may initially increase energy bills, the Business Secretary has warned. Kwasi Kwarteng said the plan to build new power plants as part of a new energy strategy may have a “small effect” on bills. But he told the BBC “nuclear is back on the table” because the Government considers [...]
‘The new normal’: Nissan says industry needs to live with chip shortages May 12, 2022 The automotive industry needs to live with semiconductor shortages as they have become “the new normal,” according to Nissan. “Semiconductor shortage is a new normal, same as the pandemic, and we have to live with it because this is not going to finish tomorrow morning,” chief operating officer Ashwani Gupta said today. The Japanese automotive [...]
Volkswagen pledges to build 800,000 EVs by end of 2022 May 12, 2022 Volkswagen has announced it will build 800,000 electric vehicles (EVs) worldwide by the end of the year as of both its environmental and financial strategy. Head of sales Hildegard Wortmann said today EU electric car sales will increase from the 425,000 delivered last year despite total deliveries falling because of macroeconomic and geopolitical issues, including [...]
Cazoo makes Spanish debut following €30m acquisition of rival May 12, 2022 Cazoo made its debut in Spain today, six months after it acquired Barcelona-based rival Swipcar for €30m. The Spanish launch followed the opening of its marketplace in Germany and France late last year and is part of Cazoo’s continental expansion. “We are very excited to launch in Spain, following our recent launches in both France [...]
Rolls-Royce trading in line with expectations following aviation recovery May 12, 2022 Rolls-Royce’s trading in the first four months of the year has remained in line with expectations following the aviation sector’s gradual recovery and investments into defence. Despite market volatility and other macroeconomic and geopolitical headwinds, the group said today it was expecting “positive momentum in our financial performance in 2022” and maintained its financial guidance [...]
Goodyear blimp to cruise over central London today May 12, 2022 The iconic Goodyear blimp will be seen in the skies above London today and tomorrow. The world’s most famous tyre advert is set to make an appearance above a host of London landmarks. A fixture at major US sports events, the blimp will also be making an appearance at a motor racing event at Brands [...]
Oil bosses dubbed ‘the new oligarchs’ as political focus on windfall tax for energy giants grows May 12, 2022 Conservative MP Robert Halfon this morning labelled oil company bosses “the new oligarchs” as he called on the Government to hit them with a windfall tax. Speaking on BBC Radio 4’s Today Programme, he said the Government had done “a fair bit” to tackle the cost-of-living crisis but that families were still struggling with food [...]
Energy giants hold their breath as Boris Johnson refuses to rule out windfall tax and Rishi Sunak starts examining profit levy May 12, 2022 Prime Minister Boris Johnson has refused to rule out a windfall tax on the profits of the energy companies to help relieve the pressure of the cost-of-living squeeze. Chancellor Rishi Sunak has reportedly told Treasury officials to examine plans for a levy on the soaring profits of the oil and gas giants. It follows an [...]
