Sadiq Khan presses ahead with London-wide ULEZ expansion November 25, 2022 Sadiq Khan has pressed ahead with his decision to expand the ultra-low emission zone London-wide from next August. The ultra-low emission zone (ULEZ) is aimed at cleaning London’s air, forcing vehicles that don’t conform to the environmental standards to pay a daily £12.50 to enter. It will also help relieve congestion in the capital. The [...]
‘Is that it?’: Gove unable to say how Brexit ‘made business easier’ when asked six times on R4 November 24, 2022 Principal Brexiteer michael Gove was unable to name a ‘single benefit’ of Brexit, as business leaders warn of continued economic strain. The levelling up secretary appeared to falter while speaking on Radio 4’s Today Programme this morning, asked no less than six times how firms would benefit from the UK’s departure from the EU. This [...]
Twitter’s top advertisers leave en masse following Musk entrance November 23, 2022 Twitter’s top advertisers are leaving the social media firm en masse, as Elon Musk’s grand plans scare away marketeers. More than a third of Twitter’s top 100 marketers have not advertised on the Elon Musk site in the last two weeks, according to analysis from the Washington Post. The analysis from Pathmatics data reckons that [...]
Taxman grabs 30 per cent more from Brits over last five years November 23, 2022 The amount of money the taxman takes away from Brits has climbed 30 per cent over the last five years, City PM analysis of official figures shows. In the year to 31 October this year, HMRC collected £757bn in taxes, up from £584bn in 2015/16, stats out this week reveal. The rise in tax revenues [...]
Kremlin ‘power grab’ in full swing as controversial Wagner Group boss pushes Putin to boot defence chief Shoigu November 22, 2022 An internal coup inside the Kremlin is reportedly in full swing as the chief of the controversial Wagner mercenary group is putting Russian president Putin increasingly under pressure to sack his Defence minister, Sergie Shoigu. Yevgeny Prigozhin, who heads the Wagner Group, also dubbed Putin’s private army which primarily consists of mercenaries, is reportedly increasingly [...]
UK borrowing surges to £13.5bn on energy price cap support November 22, 2022 UK borrowing surged over the last year due to the government partially covering the cost of household energy bills, official figures out today reveal. The UK’s debt pile swelled £13.5bn last month, up more than £4bn compared to October 2021, according to the Office for National Statistics (ONS). Although high, the figure was far below [...]
UK slumps to bottom of G7 economy league next year, OECD predicts November 22, 2022 The UK economy will languish behind its rich counterparts next year amid a tough inflation surge driven by worker shortages and an “untargeted” energy support package, a new report reveals. Britain’s economy will shrink 0.4 per cent next year, the worst performance of any country in the G7, according to the Organisation for Economic Co-operation [...]
Sir Martin Sorrell’s venture fund backs US digital asset management firm November 21, 2022 A venture capital fund backed by Sir Martin Sorrell revealed its first public investment in a US digital asset management platform this morning. In a statement, S4S Ventures announced that it had co-led a $10m Series B investment round alongside Bertelsmann’s BDMI for Tenovos, a New York based software-as-a-service provider. Tenovos helps clients streamline and [...]
UK ‘can’t afford’ another decade of lost growth, CBI warn November 21, 2022 The UK “can’t afford a repeat” of its severe economic underperformance since the 2008 financial crisis, the chief of the country’s top business group will warn chancellor Jeremy Hunt today. Responding to last week’s autumn statement, Tony Danker, director general of the Confederation of British Industry (CBI), will slam the chancellor for failing to roll [...]
Hunt on course to miss fiscal targets despite £55bn of tightening, Deutsche Bank bet November 20, 2022 Chancellor Jeremy Hunt is on course to miss his fiscal goals due to a weaker growth outlook than forecast by the UK’s budget watchdog, an investment bank has said. According to Sanjay Raja, senior economist at Deutsche Bank, the Office for Budget Responsibility’s (OBR) GDP growth forecasts are too optimistic. Last week, the OBR said [...]
