The City watchdog’s flagship new regulation, the Consumer Duty, comes into force today with experts describing it as the most important regulatory change in a decade. The new principle aims to ensure firms deliver good outcomes for consumers on the quality and price of products and services, and make sure a higher standard of consumer…
Archangels, a leading business angel syndicate investing in early-stage Scottish life sciences and technology companies, is bolstering its funding fire power after securing a £12m co-investment agreement with British Business Investments via its Regional Angels Programme. The deal will provide the Edinburgh-based syndicate with additional capital to fuel the success of Scotland’s next generation of…
The prime minister will emphasise the need to strengthen Britain’s energy security when he meets industry leaders this week. Rishi Sunak is to set out details of the government’s plans for the UK’s fossil fuel and green industries. The Sunday Times says he will announce multimillion-pound funding for a carbon capture project in Scotland. The…
Sales of Covid tests have increased by a third this month, while official estimates of the number of people with the virus have also risen. The UK Health Security Agency (UKHSA) said its surveillance showed a slight increase in cases and hospital admissions, including those in intensive care, as of July 20. Its records show…
The expansion of ultra-low emission zone (ULEZ) to outer London boroughs. has been ruled as lawful by the High Court. Five Conservative-run councils had launched legal action back in February over the expansion of the Ultra Low Emission Zone (ULEZ) to London’s outer boroughs. The scheme will come into force from 29 August and see…
Beleaguered Cinema chain Cineworld will suspend its listing on the London Stock Exchange today as it limps on with a restructuring plan to reduce its massive mountain of debt. The British chain revealed it would file for administration and stop trading on the exchange last month as it creaks under the weight of a huge…
When the phrase ‘quiet quitting’ started popping up amid the COVID-19 pandemic, employers and the media were trying to understand why some workers seemed to be putting in less effort than expected and only doing the minimum required. Susanne Lund, CEO at Airtame explains that while many factors can influence this behavior, a common refrain…
Top business groups have welcomed government plans to speed up the planning process for key infrastructure projects as a “major signal” on green growth. Ministers want to overhaul the system and create a new fast-track route for major schemes, such as offshore wind farms, transport connections, waste facilities and nuclear power stations. Prime minister Rishi…
The Government has today launched the Research Ventures Catalyst fund, injecting £50 million to bolster cutting-edge research in tech and science. The fund, based on partnerships with private and philanthropic investors, is set to unlock tens of millions of GBP and drive new discoveries across the health, tech and science sectors. The launch of the…
The majority of the UK’s hospitality businesses believe the industry is overlooked by the Government, new research has found. Europe’s largest virtual food brand operator commissioned an independent survey of 250 decision-makers in senior management positions within UK hospitality businesses (restaurants, takeaways, cafés and bars). It found that over three-fifths (62%) of UK hospitality businesses…
Ofgem has imposed a hefty £9.78m penalty on SSE Generation for securing excessive payments from the UK’s electricity system operator, which was in breach of its licence and raised costs for customers. The watchdog confirmed the penalty will be paid into its voluntary redress fund, a support kitty for vulnerable households, after first proposing the…
The Metropolitan Police have spent £7.7m policing 13 weeks of Just Stop Oil protests, the force has said. Protestors mounted 515 protests since April and the cost of handling the disruption amounted to the equivalent of 23,500 officer shifts. Actions included slow marches in busy London roads and disrupting major sporting events, and more than…
THE BBC’s chief executive is expected to contact Nigel Farage in writing today over the inaccurate story about him being de-banked by NatWest subsidiary Coutts. Mr Farage told GB News: “First things first, the BBC: I have actually received this morning an acknowledgment from Tim Davie, the director general, and he says that Deborah Turness, who…
Mounting Employment Tribunal backlogs are causing major delays in dealing with ongoing claims, leading to additional pressures for businesses and claimants, according to a leading employment lawyer. Tim Jones, Head of Employment Law at Higgs LLP, said the Employment Tribunal continued to suffer severe delays due to the amount of claims being issued and insufficient…
The Treasury Committee is challenging the lack of diversity in the venture capital industry as only 2 per cent of funding goes toward female founded and ethnic minority businesses, according to new report. The Committee also found that 80 per cent of investments went to the “Golden Triangle” of London, Oxford and Cambridge, with the…
