By Nicholas Earl The European Union (EU) has confirmed it will impose a windfall tax on energy firms’ profits, as the bloc grapples with a cost of living crisis and the possibility of an energy crunch this winter. Energy ministers from the 27 member st…
AI in insurance needs to be safe and fair
By Darren Parkin by Charles Kerrigan and Emre Kasim The use of AI across all industries is proliferating. Automation is being adopted by businesses to replicate processes and decisions traditionally carried out by humans, allowing them to scale efficie…
P&O Ferries settles with laid-off chef following unlawful firing of 800 staff
By Louis Goss P&O Ferries has settled an employment lawsuit brought forward by one of the nearly 800 seafarers it unlawfully fired in March. The ferry operator settled a case with one of its former chefs for an undisclosed sum after the Dubai-owned com…
Putin declares four regions of Ukraine part of Russia as nuclear warnings rumble
By Jack Mendel Russian President Vladimir Putin has declared four Ukrainian regions part of Russia, amid renewed warnings the Kremlin may use a strategic nuclear weapon. In a ceremony at the Kremlin, the authoritarian leader announced that Donetsk, Luh…
Think-tank: Kwarteng budget “less out of control than the market thinks”
By Andy Silvester ONE of the country’s leading economic think-tanks has described estimates that Kwasi Kwarteng’s package of tax cuts in last week’s mini budget could cost £45bn as a “gross exaggeration.” The package has gone down badly with both marke…
Aston Martin bags hefty investment from Saudi sovereign fund in £654m raise
By Charlie Conchie Aston Martin has bagged a major investment from Saudi Arabia’s Public Investment Fund today in a £654m capital raise to bolster its balance. The iconic British car firm said the investment from the Saudi sovereign wealth fund made it…
HSBC considers leaving Canary Wharf HQ
By Louis Goss HSBC is considering leaving its iconic Canary Wharf headquarters when its lease expires in early-2027. The bank is carrying out a review of “the best future location in London” for its global headquarters, according to an internal memo se…
Lidl told to stop selling Lindt-like chocolate bunnies and destroy remaining stock
By Louis Goss Lidl should stop selling foil-wrapped chocolate bunnies, that bare various similarities to Lindt’s golden rabbits, and destroy its remaining stock, a Swiss court has ruled. The Lausanne court said Swiss cholate maker Lindt & Sprüngli dese…
Made.com posts widening losses after furniture retailer puts itself up for sale
By Emily Hawkins Online furniture seller Made.com has posted widening losses after consumers slowdown on buying homeware items amid the cost of living crunch. The company posted a loss before tax of £35.3m for the six months to 30 June, versus £10.1m a…
Banks and housebuilders bear brunt of market chaos
By Jack Barnett Wild swings in UK debt markets and concern over borrowers’ capacity to pay costlier mortgages have whacked London-listed housebuilders and banks this week. Britain’s biggest property developers have been among the hardest hit listed com…