The Financial Times leads on the conflict in the Middle East, with officials in Washington warning Israel not to fire on hospitals in Gaza.
Author: WTX Business Team
Ex-NatWest boss loses out on £7.6m payout after Farage row Dame Alison Rose will lose out on £7.6m after she admitted to discussing the closure of Nigel Farage’s bank account. The former NatWest boss will receive her £2.4m fixed pay package, but will not benefit from share awards and bonuses she had been previously entitled to. Dame Alison quit in July after she spoke about Farage’s Coutts bank account – Coutts is owned by Natwest. …
CITY AM – This is not just a dividend M&S reinstates dividend and CEO Stuart Machin promises he’s not done yet CITY AM SAYS Marks and Spencer (M&S) racked in hefty profits during the half year, as the firm’s reshaping programme continues to show signs of paying off. The Percy Pig maker posted profit before tax of £360.2m up nearly £100m on last figures of £205.5m. M&S also reported a 14.7 per cent rise in…
Elementor #561819November 9, 20231 Min Read Summary of the Top 6 headlines today Financial Times – SoftBank pays $1.5bn to WeWork’s banks days before bankruptcy filings The Financial Times says SoftBank was forced to wire $1.5bn to Goldman Sachs and other lenders just days before WeWork filed for bankruptcy, as the cost of one of the worst venture capital investments in history mounts for the Japanese group.The paper says the payment takes the total that SoftBank…
King’s Speech begins countdown to next UK general election The FT says King Charles III started the countdown to the next UK election on Tuesday, setting out 21 pieces of legislation that Prime Minister Rishi Sunak hopes to define his priorities and sharpen dividing lines with Labour. But many Tory MPs gave the package of bills in the King’s Speech a lukewarm reception, while Downing Street was forced to put the brakes on controversial plans…
Elementor #561513 November 8, 20231 Min Read Summary of the Top 6 headlines today Financial Times – Accounting watchdog scraps plans for full-scale overhaul of boardroom rules The Financial Times reports Britain’s accounting watchdog has abandoned most of its overhaul of boardroom rules, a move that it says protects competitiveness but which critics say marks the unravelling of long-promised corporate governance reforms. The paper says the scrapped plans include greater requirements for diversity reporting and…
House prices rise for first time in six months, says Halifax Halifax reports that house prices rose in October for the first time in six months, but it expects values to fall over the next year. Halifax – the UK’s largest mortgage lender – said prices rose 1.1% last month, taking the average property value to £281,974. But the rise is due to a lack of homes for sale and the demand from buyers remaining…
The Financial Times says former US President Donald Trump “turned a New York courtroom into a political theatre”.
At least one person suffered from a ‘minor oral injury’ from the metal, the US Department of Agriculture (USDA) said.
‘We are already cracking down on those who try to exploit the welfare system in a push to save the taxpayer £1.3bn in the next year.’
THE ECONOMIST SAYS Even as wars rage and the geopolitical climate darkens, the world economy has been an irrepressible source of cheer.
CITY AM SAYS New figures out on Friday are expected to show that the economy contracted in the third quarter, raising the possibility that the UK is already in a recession.
Energy secretary admits Rishi Sunak’s north sea oil expansion plans ‘won’t bring bills down’ The Independent says The energy secretary has admitted that Rishi Sunak’s flagship energy policy will not bring household bills down. Claire Coutinho was quizzed about the government’s plans to expand North Sea oil and gas exploration expected to be announced in the King’s Speech tomorrow. The prime minister will declare the drive, which would invite annual applications for new licences to…
Annual oil and gas licences planned with net zero commitment required BBC News says Licences for oil and gas projects in the North Sea are set to be awarded annually, under government plans. There is currently no fixed period between licensing rounds – but this would change under a bill to be announced in Tuesday’s King’s Speech. Ministers said projects would have to meet net zero targets and claimed the policy would “bolster energy security”.…
Rishi Sunak to unveil North Sea annual oil and gas licensing bill FT says New legislation to mandate annual North Sea oil and gas licensing rounds will be at the heart of the King’s Speech on Tuesday, as Rishi Sunak looks to exploit a policy divide with Labour ahead of the next UK general election. The prime minister insisted the bill, which would allow companies to bid yearly for new licences to drill for fossil…
British Steel plans to shut furnaces putting up to 2,000 jobs at risk More than 2,000 jobs are at risk as British Steel announces its plans to close down its blast furnaces in Scunthorpe. The business, owned by China’s Jingye Group, wants to replace them with two electric arc furnaces – one at Scunthorpe and one at Teesside. The construction is expected to take between two and three years. British Steel said it aimed to…
The Financial Times reports that Rishi Sunak is set to unveil a bill to allow the ability to grant new licences to drill for more North Sea oil and gas.
‘It was the most stressful and frustrating time.’
‘I’d advise people to always check their credit history – I had a mark on my account, I wasn’t even aware of.’
Elementor #560093 November 3, 20231 Min Read Summary of the Top 6 headlines today Financial Times – Interest rates held at 15-year high of BoE warns of stagnating economy The Financial Times reports on Thursday’s news that the Bank of England will not raise interest rates further – although they will remain at the current 15-year high of 5.2%. The paper says that output is likely to remain stagnant throughout 2024, and that there is…
‘I think they chose it because it was supposed to have a ghost.’
Shell posts $6.2bn profit as oil prices rise again Shell has recorded strong profits again, helped by oil prices rising again. The oil and gas giant reported earnings of £5.1 billion ($6.2bn) between July and September, up sharply on the previous quarter. Profits were down from $9.4bn in the same period last year, however, when Russia’s invasion of Ukraine caused a spike in oil and gas prices. Oil prices are currently lower than that period,…
Elementor #559764 November 2, 20231 Min Read Summary of the Top 6 headlines today Financial Times – Feds keep rate at 22-year high as investors bet BoE following suit The news that the US Federal Reserve is holding interest rates at a 22-year high is the splash in the Financial Times, with the paper reporting investors are betting on the Bank of England following the example set by its American counterpart. The paper also talks…
House prices in surprise October rise but still down on last year Nationwide data shows house prices had the biggest monthly rise in October for more than a year. However they were still down on a year ago, Nationwide said. The 0.9% rise in prices was most likely due to there not being enough properties to meet demand, it said. Activity in the housing market is still “extremely weak”, it added, as buyers grapple with…
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