UK TRADE AND BUISNESS

The collapse of the value of the pound in the last week Friday’s mini-budget appears to have stalled, for now, but only thanks to market expectations that the Bank of England will still be forced to intervene. Sky News reported The rout for sterling, which began after Chancellor Kwasi Kwarteng revealed a £45bn tax cut […]

Ms Truss, who was the favourite to win, will succeed Boris Johnson on Tuesday and become the nation’s third female leader. Sky News said The foreign secretary used her victory speech to indicate she would not trigger an early general election, instead pledging to secure “a great victory for the Conservative Party in 2024”. She […]

Ministers will hold talks with energy giants on Thursday to discuss measures to ease the cost of living. BBC reports The government says talks will focus on how energy companies can alleviate pressure on consumers. Treasury minister Simon Clarke has said the government is “working up” options to help people with rising bills. However, he […]

British Gas owner Centrica enjoyed half-year profits five times higher than those in 2021’s first six months, while Shell attributed its enormous numbers to higher prices, refining profits, and gas trading. Sky News reported Shell has reported record profits of $11.5bn (£9.4bn) for the second quarter, more than double last year’s figure of $5.5bn (£4.5bn). The […]

Conservative leadership hopefuls have been setting out competing plans to cut taxes, as the race to replace Boris Johnson heats up. Many of the declared candidates have already promised to cut taxes on individuals, businesses, or both. Former health secretaries Sajid Javid and Jeremy Hunt have pledged to cut corporation tax on different timescales. Mr […]