Sunday Newspaper Roundup: Stock Quotes, Civil Service, Inmarsat

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Stock exchange listings have been hit hard by the war in Ukraine and soaring energy prices. During the first quarter of 2022, 19 companies debuted on the London Stock Exchange, five more than during the corresponding period of the previous year. But they only raised £397m, down from £5.6bn in the first quarter of 2021, or 14x more. Globally, registrations have halved over the same period to just 321 for £41.8bn in funds raised and EY expects the weakness to continue into the second quarter. – The Sunday Financial Mail

Up to 40,000 civil service jobs face the axe, especially those created to handle the bureaucratic aspects of dealing with the pandemic and Brexit, as opposed to frontline staff. The two political challenges had seen the ranks of civil servants jump by a fifth at the start of the previous seven years to 485,000. Last month, Chief Treasury Secretary Simon Clarke said he planned to bring back the workforce civil service to 2019/20 levels and possibly back to 2015/16 levels, resulting in the reduction of 70,000 positions. – Sunday Telegraph

A foreign takeover of Inmarsat could jeopardize Britain’s leadership in geostationary satellites, an essential skill set for maritime and aerospace navigation. Therefore, Viasat’s proposed takeover is the first major test for UK national security and investment law. It will also demonstrate Boris Johnson’s determination to avoid long-term economic damage from the loss of brain power, research and development and UK patents. – Financial mail on Sunday

Australian tycoon Andrew Forrest is ready to invest billions of pounds in Britain if the government channels more taxpayer support to “green” hydrogen. Last night Forrest chastised the government for its plans to speed up the development of so-called blue hydrogen, which uses fossil fuels to separate hydrogen from water, because it is not clean , requiring carbon capture to contain the carbon dioxide released when the fossil fuels are burned. Forrest described claims that blue hydrogen was clean as “dust” and “outright green bleaching”. – Financial mail on Sunday

Airlines companies may face a £100million compensation bill due to the airport travel chaos, which shows no signs of abating. In the previous week, some 1,200 flights were canceled and a similar number – possibly more – could be cut over the next seven days. The industry has blamed a constellation of factors, in particular anti-terrorism checks for new workers, which have led to severe and widespread staff shortages. – Sunday Telegraph

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