Despite the publication of a “damning report into an atmosphere of drinking and lawbreaking in Downing Street during the COVID-19 pandemic”, Boris Johnson has remained unbowed, according to the Financial Times.
The Financial Times reports that shares in some of Britain’s biggest power companies plunged sharply yesterday as Rishi Sunak proposed a windfall tax on the energy sector.
Rishi Sunak, the Chancellor, has directed officials to draw up plans for a possible windfall tax on more than £10bn of excess profits for electricity generators, including wind farm operators, on top of a tax on North Sea oil and gas producers.
World leaders will meet for the first time since COVID-19 in Davos this week, warning that globalisation is in reverse.
Global uncertainty is forcing corporate leaders to “grapple with strategic decisions” after supply chain issues, market turmoil and the war in Ukraine.
FT reports that Wall Street stock prices plunged into a “bear market” as economic concerns sparked a mass sell-off.
The Financial Times reports that the top antitrust enforcer in the United States has warned that the Department of Justice will take a harsher stance against private equity firms that are buying up large portions of the American economy.
According to the Financial Times, inflation of 9% was double what was expected by the Bank of England.
The Financial Times reports that unemployment has fallen to its lowest level in almost half a century.
According to the Financial Times, the governor of the Bank of England is unable to prevent inflation reaching 10% this year.
According to the Financial Times, Sweden’s move to apply for NATO membership with Finland will change Europe’s geopolitics.