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Windfall tax on oil and gas firms: Rees-Mogg warns Sunak that no tax is ‘economically cost-free’
One of the government’s most loyal ministers has warned that a windfall tax on oil and gas companies will not be “economically cost-free”.The tax was announced by Chancellor Rishi Sunak as part of a £21bn support package aimed at helping people cope with the rising cost of living. But Jacob Rees-Mogg, the minister for Brexit …
Business
Evening Standard
Crackdown looms as gamblers hooked on Bitcoin
Crypto platforms are set to face a regulatory crackdown amid growing calls for tougher rules on digital currency trading.Matt Zarb-Cousin, founder of gambling site blocking service Gamban said: “I think the Financial Conduct Authority does need to get to grips with what counts as investing and what counts as speculating and I think it’s incumbent on …
Business
Euro News
Putin will not dictate peace terms in Ukraine, says Germany’s Scholz
Business
Sky News
Chancellor’s cost of living aid will help you and make things worse at the same time
Let’s begin with perhaps the most important question: will this make a difference?The short answer is yes. The stimulus the chancellor announced today is big – very big. It will affect all households and some – especially those on lower incomes, benefits and many pensioners – will get outsized one-off cash payments. For the “average” …
Business
Sky News
‘The wrong signal’: Windfall tax ‘damaging’ for net zero plans and energy security, businesses say
The windfall tax announced by the chancellor will be “damaging” for the UK’s net zero plans and energy security, the Confederation of British Industry has said.Rain Newton-Smith, CBI chief economist, said the tax “sends the wrong signal to the whole sector at the wrong time”, pointing to a “backdrop of rising business taxation”. Chancellor Rishi …
Business
Sky News
If it looks like a duck, it’s a duck! Why Rishi Sunak’s windfall tax is facing a backlash
The chancellor may claim that a ‘temporary Energy Profits Levy’ is not a windfall tax but, as the popular saying goes, if it looks like a duck, quacks like a duck and waddles like a duck, then it probably is a duck.The peculiar use of terminology is an attempt to disguise that this windfall tax …
Business
Evening Standard
Curb your enthusiasm for bitcoin — shares are best
To the disappointment of his many fans, the celebrities punting crypto currencies include Seinfeld and Curb Your Enthusiasm star Larry David.(Best two TV shows, ever.)His advert was, as we’d expect, very funny. But why did he do it? And let’s assume he wasn’t paid for his time in crypto.In response to the subsequent, almost inevitable, …
Business
Business Live
Huge appetite to be part of grand Net Zero plan as hundreds of businesses join Drax and Worley in Hull
More than 300 businesses underlined their desire to work with energy giant Drax as its engineering partner Worley on the huge net zero project. A special event in Hull saw contracts worth hundreds of millions of pounds to deliver bioenergy with carbon capture and storage at scale discussed. The major infrastructure project would be the …
Business
Sky News
Family-owned fragrances retailer Bodycare plots sale
A family-owned fragrances retailer founded on a Lancashire market stall more than half a century ago has appointed advisers to explore a sale.Sky News understands that Bodycare, which trades from more than 100 stores across the UK, is working with Interpath Advisory on a process to bring in a new owner. City sources said the …
Business
Business Live
Plans for major new wind farm with 1,000ft turbines off North Wales coast have been submitted
Plans for a major new wind farm off the North Wales coast have been submitted. Awel y Môr offshore wind farm, which could provide power for up to 500,000 homes, has been submitted to, and accepted for consideration by the UK Planning Inspectorate. The project, which is being developed by RWE Renewables on behalf of …
Business
Evening Standard
DIY retailer Wickes avoids post-pandemic slowdown
DIY retailer Wickes has said it expects to avoid the slump in post pandemic trading with home improvement customers still returning to stores and trade customer order books at record levels. Wickes said it would deliver full year results in line with expectations with sales “significantly ahead of pre-lockdown levels”.The company revealed that business still remained …
Business
Evening Standard
City boss slams Hollywood stars for pushing crypto currencies
A TOP City boss today criticised the celebrities that have been promoting crypto currencies to ordinary folk and admitted the lockdown inspired share trading boom is over.Andy Bell, founder and chief executive of leading investment platform AJ Bell, said Hollywood actors should not be giving investment advice.Gwyneth Paltrow, Resse Witherspoon and footballers John Terry and …

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