Shell expects its refining profits to jump by as much as $1.2 billion this quarter as it benefits from record high fuel prices. The oil and gas giant said indicative gross profit margins for its global fuel refining business had almost trebled to $28 per barrel in the second quarter, from just over $10 a […]
The June edition of the UK Export Monitor by Coriolis Technologies and The Institute of Export & International Trade (IOE&IT) further highlights the struggles British businesses are facing as a result of the pandemic, supply chain crisis, Russia-Ukraine conflict, and Brexit. Total exporter revenues have dropped across the UK by 2% since last month. Wales […]
Nadhim Zahawi, the new chancellor of the exchequer, has called for a review of the UK’s corporate tax policy in a clear hint that a rise from 19p to 25p due next year could be reduced or scrapped. Zahawi, who took up the post on Tuesday evening after Rishi Sunak’s resignation, said he wanted to […]
Nearly three quarters of Brits say they do not feel that their employer has adequately kept up with the cost of inflation. When asked how they plan to handle the rising cost of living in the next 12 months, over two in five Brits say that they feel they could be forced to find alternative […]
House prices rose for the twelfth month in a row in June, defying expectations of a slowdown. Strong demand and a shortage of homes for sale pushed average prices up by 1.8 per cent over the month, the biggest rise since early 2007. Annual growth of 13 per cent was the highest since late 2004. […]
Borrowers may face bigger interest rate rises in the coming months as Bank of England officials prepare to speed up monetary tightening over stagnation fears. Huw Pill, the central bank’s chief economist, said he was willing to adopt a “faster pace” of tightening than the Bank had implemented in the past few months. The Bank […]
The competition watchdog is formally examining Amazon’s treatment of the third-party sellers that use its retail platform. The investigation by the Competition and Markets Authority (CMA) will look at whether the technology giant has a “dominant position in the market” and whether it uses this to give an unfair advantage to its own business and […]
As many as one in ten adults in Britain have bought crypto assets such as bitcoin, far more than was previously thought. Research commissioned by HM Revenue & Customs found that about 6.7 million adults owned or have bought crypto assets. This is almost three times higher than estimates from the Financial Conduct Authority, the […]
Energy rationing could be on the cards this winter, with British factory owners suffering constraints to their energy supplies. There are growing fears Russia could strategically cut off gas into Europe, with Kremlin already halting supplies into multiple companies and countries across the continent which refused to pay for gas in roubles. The rouble requirement […]
Cyber security experts have urged UK organisations to prepare for an extended period of heightened threat in relation to the Russia-Ukraine conflict as they published new guidance aimed at supporting staff resilience. The guidance from the National Cyber Security Centre (NCSC) – a part of GCHQ – is the latest in a series of interventions […]