Scottish fund managers and US bankers to flock to London as Kwarteng fires up the City

Meanwhile the tax disparity has sparked consternation in Scotland about the effect on Edinburgh, the major financial centre north of the border. Benny Higgins, a Scottish banker and former business adviser to Nicola Sturgeon, said: “A 1p gap may be seen by me and my peers as tolerable and understandable, but a 6p gap would … Read more

Britain runs low on ammo as Ukraine bombards Kremlin forces

As she prepared to address the United Nations, Liz Truss last week committed the UK to spending at least £2.3bn next year on military aid to help Ukraine repel Kremlin forces. The promise came as Vladimir Putin sought to mobilise 300,000 reservists in hope sheer numbers can overcome the combination of Ukrainian determination and Western … Read more

Sharif warns UN: ‘What happened in Pakistan will not stay in Pakistan’

CNN  —  Pakistan’s Prime Minister Shehbaz Sharif has warned that climate change will not spare other countries the sort of disaster that left up to one third of his country underwater and millions of its children at risk of water-borne diseases. He told the United Nations General Assembly on Friday to come together and “act … Read more

Why the stamp duty cut won’t stop a catastrophic house price crash

Andrew Wishart, of the analysis firm Capital Economics, says: “The market reaction to the announcement suggests that mortgage rates of over 6pc are now a distinct possibility, which would leave house prices more overvalued than in 2007.” The stamp duty saving will help to boost buyers’ deposits because it must be paid upfront, Wishart says. … Read more

Kwarteng warns Bank of England over blaming Ukraine war for inflation

Kwasi Kwarteng has issued a warning to the Governor of the Bank of England, as he vows in Friday’s mini-Budget to break the “cycle of stagnation”.  The Chancellor told Andrew Bailey that claims that near double-digit inflation was mainly driven by the war in Ukraine were less credible now that the Government had taken action … Read more

Jacob Rees-Mogg claims fracking opponents are funded by the Kremlin

But in a written statement to MPs on Thursday, Mr Rees-Mogg suggested that the risk of further earthquakes was worth taking, and that more data could be collected when drilling resumes. “While HM Government will always try to limit disturbance to those living and working near to sites, tolerating a higher degree of risk and … Read more

Jacob Rees-Mogg cuts business energy bills in half

Good morning.  All eyes are on the Business Secretary this morning for more details about a multi-billion-pound support package to help companies cope with soaring energy bills. Jacob Rees-Mogg is expected to unveil a package that will slash businesses’s energy costs in half amid concerns the crisis could spark a wave of collapses. Electricity bills … Read more

China takes advantage as Putin slashes energy prices – live updates

Good morning. China is spending record amount of money on Russian energy as it continues to expand its reliance on the Kremlin in the wake of the Ukraine war. Beijing forked out a record $8.3bn (£7.3bn) last month on a haul that included a record amount of coal. In the six months since the start … Read more

Beginner gaming PC: How to get started with PC gaming

CNN  —  The new PS5 and Xbox Series X might be all the rage right now, but for many, the best way to play games is still in front of a mouse and keyboard. PC gaming is more popular than ever, thanks to a ton of great options for buying or building a powerful computer … Read more

Kwarteng considers blanket discount on business energy bills

However, a similar package for businesses is far more difficult to draw up because they have individual arrangements with energy suppliers in which the price they pay can vary widely depending on their contract. The proposal being considered would not cap these charges, but offers a discount of a set number of pence per kilowatt … Read more