UK News ALEX BRUMMER: Natural disaster brewing in Britain's mining sector

03:25  14 september  2021
03:25  14 september  2021 Source:   dailymail.co.uk

Alex Jones shares candid breastfeeding selfie as she returns to The One Show for special episode

  Alex Jones shares candid breastfeeding selfie as she returns to The One Show for special episode Alex Jones returned to The One Show on Monday night for a special episode after giving birth to her baby daughter Annie last month . Taking to Instagram before the episode aired, the presenter, 44, shared a candid breastfeeding selfie which she captioned with: "Multitasking!!!!" Alex, who is currently on maternity leave after giving birth last month, returned to host Monday's The One Show to reveal the RHS Garden of Hope at the Chelsea Flower Show.

By Alex Brummer for the Daily Mail Updated: 00:19 BST, 27 September 2008. Here in Britain several members of the interest-rate-setting Monetary Policy Committee have hinted in recent days of a change in heart over interest rates as recession and the credit crunch loom larger than inflation. Among the ‘hawks’ who have hinted at changing their minds are the deputy governor Sir John Gieve and the business economists Kate Barker and Andrew Sentance – who until now have been committed to holding firm.

ALEX BRUMMER : As the pandemic unfolded, Rishi Sunak was the Cabinet minister left holding the safety net. But the day of reckoning has arrived and the Chancellor had to issue a bleak warning. Fortunately, the Chancellor also made it clear yesterday that the route back to turbo-charging Britain ’ s beleaguered economy is to encourage its army of entrepreneurs and the self-employed to take risks to create wealth and jobs. He vowed to respect the ‘nobility’ of work and free enterprise.

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London has proven a magnet for tech-related floats in 2021. In the first half of the year there were 49 listings on AIM and the main market, and they are still coming fast.

Latest to join the rush towards an initial public offering (IPO) is Czech-based Eurowag, which provides transport payments and other services to smaller companies across the Continent.

It chose to list in London because it is ‘top notch’, and has snagged City grandee Paul Manduca as chairman.

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Valued at an estimated £1.7billion, the Eurowag decision to float comes hard on the heels of the announcement of life sciences group Oxford Nanapore.

Rolls-Royce's nuclear plan to mine on Moon: New space race for vital resources - and a launch pad to Mars

  Rolls-Royce's nuclear plan to mine on Moon: New space race for vital resources - and a launch pad to Mars Dave Gordon, head of the company's defence division, said it is studying how a micro-nuclear reactor could be used to propel rockets while in space at huge speeds. He revealed that Rolls-Royce is investigating whether that technology could then be redeployed to provide energy for drilling, processing and storage for socalled 'Moon mining'. Valuable natural resources on the Moon include water, which can be converted to rocket fuel, and rare elements and metals that are used in energy production and electrical goods back on Earth.

ALEX BRUMMER : A giant Ponzi scheme that deserved to go to the wall even though Carillion's collapse shames capitalism and puts the wind in Labour's sails. What he failed to acknowledge is that the most enthusiastic embrace of private outsourcing companies came during the last Labour government, which used firms such as Carillion to replace Britain ’ s Victorian hospitals, to build modern schools, expand universities and begin the process of updating the nation’s railways and roads.

ALEX BRUMMER : Australia deal is the kind of uncomplicated approach to trade Britain needs - UK agriculture must adjust to a new reality 21/05/21. Shares in the retail sector are looking as vulnerable to bear raids as those at the banks. While there are no depositors to worry about when pressure builds on shopping chains, the impact can be just as devastating. The withdrawal of the credit insurance from Woolworths, a high street stalwart for 99 years, is forcing it to look at selling its branch network to distressed debt experts Hilco - who have a history of placing retail assets into administration.

In the wings waiting for lift-off are several other fintech players including Klarna, Revolut, Monzo and Atom Bank, all with their eyes on the City.

Fortune magazine describes London as ‘2021’s hub for hot new tech IPOs’. As welcome as this renaissance is, and as great is the potential, it will do little to enhance the UK’s reputation if big battalion shareholders sit on their hands while behemoths flee these shores.

The departure of mining giant BHP from the FTSE 100 – where it vies with Astrazeneca for top slot – to a new home in Sydney is a travesty.

It means that some UK funds will not be able to hold a dividend stock at a time of a global metals surge.

Moreover, hiding away in Oz, way out of sync with New York and London time zones, is bad for liquidity and ESG transparency.

ALEX BRUMMER: Return of instability amid turmoil in the energy market

  ALEX BRUMMER: Return of instability amid turmoil in the energy market In seeking the best of all worlds in the shape of a decarbonised economy, a free and competitive marketplace for gas and electricity and low prices, the UK has created the ultimate instability. It is not unlike consumer banking in the run-up to the financial crisis, when over-zealous lenders such as Northern Rock invented unsustainable structures to support 110 per cent mortgages.As was the case when banking imploded, global factors beyond the UK’s control have brought the house of cards tumbling down.

By Alex Brummer for the Daily Mail. In Britain , one of the great mysteries of our time is that not one of the senior bankers responsible for the worst financial crash for a century, many of whom went on to preside over the subsequent reckless behaviour in interest rate and currency markets, has been brought to justice.

ALEX BRUMMER : In a few short months, two Japanese firms, Toshiba in Cumbria and now Hitachi at Wylfa on Anglesey, have fallen by the wayside because of escalating costs. Britain ' s energy strategy has been plunged into crisis after plans to build a new nuclear power station in Wales were ditched. Japanese firm Hitachi suspended work on its £16billion Wylfa Newydd nuclear plant on Anglesey as costs mounted, it failed to attract new investors and turned down a deal from the Government.

What makes BHP’s exit particularly embarrassing is that it is effectively a capitulation to the agitation of activists Elliott Partners.

Former Aviva investment chief David Cumming, in an interview in the Sunday Telegraph, expresses surprise that there hasn’t been resistance to BHP ‘beetling off to Australia’ and warns against Rio Tinto, with history in the UK dating back to 1873, doing the same.

Legal & General, which holds just under 1.9 per cent of BHP, has publicly expressed its disappointment at the shift.

The danger to the London Stock Exchange is that its reputation as a natural resources champion is undermined. As home to Anglo-American, Glencore, Vendanta Resources and many others, the LSE’s heft in the sector is considerable and covers far-flung operations, including Chile and Mongolia.

There has been intense speculation that Rio Tinto, after the destruction of the sacred Juukan Gorge and its run-in with indigenous people in Australia, might be tempted to move Down Under to relieve political pressure.

ALEX BRUMMER: Kwasi Kwarteng steps up for UK science

  ALEX BRUMMER: Kwasi Kwarteng steps up for UK science Kwasi Kwarteng has a reputation as a passionate free market advocate. When it comes to preserving UK-generated intellectual property he also shows a willingness to intervene. His decision to send the proposed offer for graphene pioneer Perpetuus Group by mystery bidder Taurus International and Chinese-trained nanotechnology scientist Dr Zhongfu Zhou to the Competition and Markets Authority is a case in point.Kwarteng is particularly alert to deals that require proper national security scrutiny, especially when a Beijing connection can be made.

ALEX BRUMMER : There is one 'misstep', however, that stands out as profoundly stupid.That' s the decision to quarantine incoming passengers to our airports Travellers arriving in Britain will face 14 days in quarantine from next month to prevent a second coronavirus outbreak. Who will want to visit friends here, take a holiday or come to do business with such a draconian restriction in place? Out of the 18.1million people who entered the country by air in the three months prior to the coronavirus lockdown, just 273 were formally quarantined.

ALEX BRUMMER : Yesterday's 'impact statement' was designed to persuade dissenting Tory MPs it was right to place almost the whole country under tough Tier 2 and Tier 3 measures. Britain ' s Health Secretary Matt Hancock. Right: Gordon Messenger, head of operations for the community testing programme. Instead, a feeble, regurgitated 48-page report was dished up that simply referred back to last week’s economic forecasts from the independent Office for Budget Responsibility – which itself admitted it ‘does not model the precise detail of specific restrictions’.

Chief executive Jakob Stausholm, who succeeded to the job after the blast disaster, backs keeping the quote in London. An Aussie successor to chairman Simon Thompson might see things differently.

The lack of a campaign to keep BHP in London is surprising. In the recent past, Unilever, Smith & Nephew and plumbing group Ferguson have all looked at shifting their main quote to other markets. They have been cut off at the pass.

BHP should never have been allowed to desert. Any effort to switch Rio to Oz would be a bitter blow and betrayal of heritage which must be stoutly resisted.

Click bait

Primark-owner ABF long has maintained that online home delivery doesn’t make a great deal of sense because of its low-price fashion offerings.

In spite of the stop-go trading of the pandemic in 2021, it has pressed ahead with store expansion, opening 15 outlets, including four in the US, with Philadelphia the latest addition.

Profit guidance for the full year has been raised, but a combination of supply issues and Covid means fourth quarter same store sales have plummeted, sparking a share sell-off.

ALEX BRUMMER: New tax levy takes too much out of economy too soon

  ALEX BRUMMER: New tax levy takes too much out of economy too soon It may be the wrong time to impose a £12billion tax burden on work. The ability of a faster growing economy to deliver bigger tax revenues - without new charges - should not be underestimated. A further concern, pointed out by Institute for Fiscal Studies, is that 'the creation of an entirely new tax will mean yet more quite unnecessary complexity'. It is also an open goal for a future Chancellor to raise more revenues in the name of the NHS if required. The distributional aspects of the 1.25 per cent levy have been widely challenged on the Left.

As always, AB’s food businesses, with sugar among the stars, is there to better balance outcomes.

It is intriguing that Primark is upgrading its digital presence and recruiting new talent. A stronger and brighter online sales presence points to a click-and-collect option before too long.

Private grief

As if it didn’t have enough resources already, private equity outfit CVC, currently stalking La Liga in Spain, has increased its firepower by snapping up Glendower, a spin-off from Deutsche Bank.

Together, the enlarged outfit will have assets of £96billion. In typical private equity style, none of the financial details of the transaction are disclosed. That’s a lot of new resources in secretive hands.

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The renaissance in British mining that's being driven by lithium .
Lithium is set to become one of the most crucial and strategic of commodities as the 21st century rolls on.Lithium is set to become one of the most crucial and strategic of commodities as the 21st century rolls on and, as it happens, it looks as though it could be present in abundance in Cornwall.

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This is interesting!