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What was the 1970s oil crisis, and are we heading for something worse?
Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis CIB, said while 1970s oil shocks sent prices sky high, they only cut global supply by 5-7%. In contrast, the current crisis affects 20% of the world’s supplies, “dwarfing the 1970s shock”, she said.
Airbnb and local councils crack down on social home listings
Under the data-sharing programme, coordinated by the Public Sector Fraud Authority within the Cabinet Office, local authorities across London, as well as Edinburgh City Council, Birmingham City Council and Anglesey Council will work with Airbnb and listings confirmed as operating without permission will be removed. David Harvey from Westminster City Council, said the authority believes…
Crypto users forced to share account details with tax officials
Rachel ClunBusiness reporter Getty Images People buying cryptocurrency in the UK now need to share their account details or face penalties, in changes that came into effect on 1 January. The move by the UK’s tax body is designed to ensure they pay all relevant tax on buying and selling crypto, including capital gains tax….
Ozempic-maker Novo Nordisk to cut 9,000 jobs
The maker of Wegovy and Ozempic, Novo Nordisk, has announced it will cut 9,000 jobs weeks after warning that profits will fall as more “knock-off” weight-loss drugs emerge. The redundancies make up 11% of the Danish company’s workforce and mark the first major step by new chief executive Mike Doustdar as Novo Nordisk faces mounting…
A 45% school bus fare hike is too much, says Coventry dad
A dad-of-two wants a bus operator to reconsider its charges for a popular school route amid plans for a huge fare hike. Ambi Ambituuni’s daughter currently uses the 85 bus operated by National Express to travel between her home in Coventry and her school in Rugby – journeys costing £165 a term. From January 2,…
