How to make chips without potatoes | Kitchen aide
Philippe Carden obituary
My partner Philippe Carden, who has died aged 74 of oesophageal cancer, was a well-known accountant in the field of theatre, film, television and the arts.He was passionate about all the performing arts and he combined this with a talent for making personal tax less daunting. He was much loved by his clients and always made a big impression with the graduating students at the London and Bristol drama schools with his annual lecture on “How to survive the UK tax system”.For many years he was involved with the London Bubble Theatre Company and he also invested in shows, co-writing, with Bee Huntley, Investing in West End Theatrical Productions: How to Be an Angel (1992), which is still a key reference work. He also wrote articles for the Stage and the Evening Standard
Sales at toymaker Hornby up 7% after bumper Black Friday and Christmas
The toy-train maker Hornby enjoyed bumper trading in the final three months of last year, marking a turnaround for the Kent-based company, which has struggled since a hobby boom during the Covid pandemic.Sales at the model train firm, which also sells toy planes and cars under the Airfix, Scalextric and Corgi brands, rose 7% in the key “golden quarter” compared with the same period a year earlier.December saw particular growth, up 8% year on year, while profits were up 10%. Hornby shares rose almost 4% on Wednesday on the news.The company credited its success to activity around Black Friday, when almost 50% of transactions came from first-time customers, and Christmas demand in December, when revenue grew 23% and profit grew 38% year on year
UK 10-year borrowing costs hit highest level since 2008, as Rachel Reeves’s fiscal headroom evaporates – as it happened
Director of the Institute for Fiscal Studies Paul Johnson has confirmed that the bond market selloff risks wiping out Rachel Reeves’s wriggle room - and potentially forcing her to make spending cuts.Speaking to the Guardian, as the yield on 10-year UK debt hit its highest level since 2008, Johnson says:“Broadly speaking what’s happened in bond markets since the budget is roughly speaking enough to wipe out the very small amount of headroom Rachel Reeves left herself.”[this is the headroom to meet the chancellor’s fiscal rules, which include having debt falling as a share of the economy in five year’s time. In last autumn’s budget, it was just £9.9bn]
Why rising bond yields are rattling Rachel Reeves
Rachel Reeves has a bond market headache. After a rise in the government’s borrowing costs, with the 10-year cost of debt hitting the highest level since 2008, the chancellor is in danger of breaking her fiscal rules.For the past 15 years, western governments have been able to rely on the financial markets for cheap borrowing. After the 2008 financial crisis the world’s most powerful central banks cut interest rates close to zero, while inflation remained low, with the idea to help reboot economic activity.In the years since the peak of the Covid pandemic those trends are now firmly in reverse with serious consequences for governments worldwide
City regulator vows to ease ‘burden’ on UK banks amid government pressure
The Bank of England plans to slash the “reporting burden” on UK banks and allow insurers to make riskier investments without initial approval, as it comes under government pressure to ease regulations introduced after the financial crisis.Sam Woods, a deputy governor at the Bank who leads its regulatory arm, the Prudential Regulation Authority (PRA), said the central bank had rowed back on rules that appeared to be “overcooked”, as he suggested it might have gone too far and harmed the financial sector.However, Woods, who was speaking to members of the House of Lords financial services regulation committee on Wednesday, insisted he did not want to see a regulatory “race to the bottom”.Both the PRA and fellow City regulator the Financial Conduct Authority have come under renewed pressure to support UK growth by easing rules on the financial services sector. In November, the chancellor, Rachel Reeves, ordered the watchdogs to encourage more risk-taking across the industry
Six big US banks quit net zero alliance before Trump inauguration
The six biggest banks in the US have all quit the global banking industry’s net zero target-setting group, with the imminent inauguration of Donald Trump as president expected to bring political backlash against climate action.JP Morgan is the latest to withdraw from the UN-sponsored net zero banking alliance (NZBA), following Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs. All six have left since the start of December.Analysts have said the withdrawals are an attempt to head off “anti-woke” attacks from rightwing US politicians, which are expected to escalate when Trump is sworn in as the country’s 47th president in just under a fortnight.Trump’s vows to deregulate the energy sector, dismantle environmental rules and “drill, baby, drill”, were a big part of his campaign platform and are expected to form a key part of his blueprint for governing the US, the world’s biggest oil and gas producer
How to make chips without potatoes | Kitchen aide
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