Chancellor limb up for bitter rhetoric on pension triple lock Niels Pratley

APutting a pension triple lock on government pensions, even for a year, would guarantee a bitter line, so one can understand why the Chancellor remained committed to this task with the era of hints and impeachment. “Nothing has been decided and we have to wait for the statistics. If the politics of the exercise becomes ugly, we will get ourselves out of it,” Rishi Sink said.

But the logic here points to only one direction: the lock should be lifted this year. It is too complex to deal with the extraordinary circumstances of the economy, which then began to recover rapidly, and was not designed to deal with fluctuations.

As a reminder, the current promise is to increase the pensions of the top three reading states per year – average income, annual inflation rate or 2.5%. This time the worry factor is the average earnings, which is predicted to increase by 8% in the relevant figures for July. But the numbers are weird: it will be much stronger because a year ago, when the economy was in a lockdown and revenues were declining, it was so weak.

The UK’s official pension is not generous by international standards, an important point that Sink should not forget when it comes to what he wants to award this year. Will consider But as a product of a tough mechanical formula, inflation is dropping from 8 ating next April, when the global reputation is set to rise by 20 pounds a week in September.

A better formula would be to use a modest average income, as Lord Vallett of the Resolution Foundation has long argued in favor of justice for all. That’s right: toughness leaves no room for common sense. On the sink, under the pressure of finding cash for the NHS, social care and schools, there will never be a better opportunity to improve this reform. It should be taken.

Karen Energy confiscated Paris flats in a seven-year dispute with India

Exploring for oil can take you to some interesting places, but not usually the luxurious 16th round of Paris.

Karen Energy’s story is a complex tax dispute with the Indian government, which resulted in the Edinburgh-based company pushing for oil concessions in Rajasthan several years ago. Karen has won courts at every turn with criticism at the Dutch International Arbitration Tribunal last December, but has yet to receive the ڈالر 1.7 billion she owed.

The French angle has been reported for the first time by the FT, the enforcement is, in this case, one of several legal attempts to seize the assets of the Indian state. Other Air India aircraft are among the other possible targets, which could raise the temperature of the dispute by several degrees.

One answer is that it’s ridiculous for Karen, who grew up on FTSE 250, to act like a shepherd’s donkey fund. But what else is there to do? It has eliminated the legal avenues and no attempt has been made to compromise with the Narendra Modi government. It can’t write more than just its stock market capitalization.

The confiscation of the excellent Paris flats worth 20 20 million makes this dial barely financially viable, but as a result of the headline, it loses serious value. Assuming one, Delhi will hate them. The UK government may also be interested in the issue, as under the 1995 UK-India Bilateral Investment Treaty, the dispute is a terrible advertisement for a newly expanded trade partnership.

There must be an agreement done to end this seven-year legal battle – and it may include figures that are less than 7 1.7 billion. In the meantime, though, Karen kept pushing.

Delivery provides better scores after the Schmidt IPO

Forget about London being the unofficial “worst IPO in history”, and just provide the numbers. That’s the decent thing to do, and it should end there. The 390p float price is still far away but 313p, much better than the current level, the lower point of 230p.

And here comes a seemingly rapid update: the reopening of pubs and restaurants has not exploded. Delivery now expects the “gross transaction value” – which Pinters orders through the app – to be better than the forecast of 50% -60% for the whole of 2021.

Great, but what is it? The gross profit margin will be “in the lower half of our previous limit.” There is a mystery in this: Delivery can change a lot of pressure, but it runs in a competitive market and it is practically impossible to read the long term financial profile. Last year the base loss was 22 224 million and this time there is another loss on the cards. The issue of investment is not clear yet.

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