A report warns that automation could lead to the loss of 8 million UK jobs. This is a “jobs-apocalypse” for women, young workers, and those with lower wages. According to the Institute for Public Policy Research, AI could replace entry-level, part-time or administrative jobs in a worst-case scenario for the introduction of new technologies over […]

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If the grocery store can break free from its UK roots, a lucrative future awaits. Tim Steiner, Ocado’s chief executive officer, praised the £750m partnership with Marks & Spencer as a win-win for both parties. He said that M&S took an “incredibly intelligent risk” in partnering with online grocery store, and that “it’s nothing like […]

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Morrisons reported widening losses for the first quarter, after being weighed down with debt financing costs related to its private equity acquisition. The supermarket chain reported pre-tax losses in the amount of £156m for the 13 weeks ending January. This comes at a time when the business is pursuing an ambitious turnaround strategy. The Bradford […]

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IFS warns that the decline in North Sea revenue will cause a shortfall of up to £4,100  per person. The Institute for Fiscal Studies has warned that Scotland will face a much larger deficit than the rest the UK due to the drop in oil prices . According to the IFS, Scotland will have a […]

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Tommy Eklund, Fortnox’s CEO, has redefined the technology industry in a way that few other chief executives have. Eklund turned a Swedish niche accounting software supplier into a stock-market sensation, whose share value has increased fivefold under his leadership. Few predicted his performance in 2020. Fortnox estimates that the company has already signed up 2/5 […]

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The Bank of England warned that the private equity industry poses a threat to financial stability, as it launched a review of this $8 trillion ($6.3 trillion) sector. Officials are worried about the value assets such as commercial properties and businesses that private equity firms control. Uncertainty also exists about how much money was lent […]

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UBS agreed to sell loans worth $8bn to private capital group Apollo as it wind down its investment bank related to the acquisition of Credit Suisse in 2013. Apollo originally agreed to buy Credit Suisse’s securitised product division in 2022. The deal included an investment management contract. The deal announced on Wednesday concludes the arrangement. […]

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According to sources familiar with the situation, Formula One owner Liberty Media has exclusive negotiations to purchase the company that owns MotoGP. This would bring together the two elite racing series: the car and the motorcycle. The people who spoke to the media said that Liberty, which was chaired and run by John Malone, a […]

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After the collapse of the Francis Scott Key Bridge in Baltimore, carmakers have announced that they will be rerouting shipments to other cities. Insurers have also warned of claims worth billions of dollars. After the closure of Baltimore’s port, the US’s largest auto-handling facility and the site used by nearly every major manufacturer, manufacturers have […]

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Shein will announce in the next few days that the London Stock Exchange is the destination of its initial public offering, according to reports. This Is Money of the Daily Mail reported that the directors of the Singapore fast-fashion giant are nearing a decision on whether to list in London or New York. The Times […]

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Sources close to Tata Steel have stated that the company would continue to cut thousands of jobs at its Port Talbot facility despite being promised hundreds of millions pounds in subsidies by Labor. According to people familiar with the plans of the company, the money promised by Labour should it win the election will not […]

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Apple, Google parent company Meta and Google are all being investigated by EU authorities for possible breaches of new EU laws designed to monitor anti-competitive behavior by large technology companies. The three face substantial fines if found guilty of violating the Digital Markets Act (DMA). is a landmark regulation that entered into force on the […]

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The International Monetary Fund said that China’s economy could grow by $3.5 trillion over the next 15 year if its policy is reoriented to focus more on consumers. Kristalina Georgeeva, managing director of the IMF, stated that China is at a crossroads. She said that China could either rely on policies that worked in the […]

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A report warns that the UK economy is headed for a slow recovery after the recession, and the Bank of England may compound this weakness by maintaining interest rates at an unsustainable level for too long. KPMG predicts that the economy will grow by just 0.3 percent this year and struggle to achieve any significant […]

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Kingfisher’s hopes of a recovery have once again been dashed after the DIY retailer saw its profits fall due to sluggish sales in France. B&Q, Screwfix and B&Q’s owner said it would examine the future of Castorama after its like-forlike sales dropped by 5.9 percent last year. Thierry Thierry Garnier is the Kingfisher Chief Executive, […]

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A report says that Britain’s housing is “expensive and cramped” with an ageing population. It offers the lowest value for money among advanced economies. According to a study by Resolution Foundation, people in England live in smaller homes on average than in France, Germany, and Japan. Housing costs in the UK are nearly 40% higher […]

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A new report claims that consumers could see their energy prices rise further because the government is blocking the development of offshore wind power. The Energy and Climate Intelligence Unit said that the ministers’ budget is not enough to fund a large number of future farms. The Treasury’s “unrealistic” power price predictions for the coming […]

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Merlin Entertainments announced today the purchase of the Orlando Wheel in Icon Park, Florida. It is the tallest observation wheel east of America. The British company has already purchased a Madame Tussauds and a Sea Life Aquarium in the area. With the purchase of this wheel, it can replicate the cluster strategy it has used […]

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The rapid increase in premiums for car, pet and home insurance has brought the government a windfall worth more than £8billion. HM Revenue & Customs reports that with one month remaining in the 2023-24 fiscal year, insurance tax receipts have reached a new record of £8.1 billion. This is an increase of 9.9 percent over […]

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Wind farms owners are under investigation by the energy watchdog over alleged market manipulating after being accused of charging consumers more than £100m. Ofgem will investigate claims that renewable energy companies artificially inflate compensation payments they receive for turning off their turbines during windy days, when extra capacity was not needed on the grid. The […]

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Red state investment funds pulled $13.3bn out of BlackRock, the world’s biggest asset manager, nearly two years after the Republican campaign began to punish BlackRock because it insisted that climate change poses a financial risk. This figure represents approximately one-tenth percent of BlackRock$10tn assets under management. Some Republican state pension funds have more than $20bn […]

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China has issued new guidelines which will see US microprocessors such as Intel and AMD phased out from government computers and servers. Beijing is ramping up its campaign to replace foreign technologies with domestic solutions. In addition, the stricter government guidelines on procurement seek to eliminate Microsoft Windows operating system as well as foreign database […]

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In an effort to counter China, the US and Japan plan to upgrade their security alliance to its highest level since 1960 when they signed a Mutual Defence Treaty. Five people with knowledge of the situation have confirmed that President Joe Biden will announce plans for reshaping the US military command to Japan in order […]

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Wes Streeting, the shadow health secretary, has stated that he would like the NHS to rely on the private sector for the short-term so it can reduce its dependency in the future. He also rejected New Labour’s “ideological belief” that competition will drive up standards. In an interview, streeting defended his “unfashionably-nuanced” viewpoint, saying: “I […]

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In an office in Antwerp in Belgium, four piles of small grit-like stones are piled on the desk. It’s hard to believe that these plain white rocks are actually some of the most valuable in the world. These are rough diamonds, which means they have not been cut or polished, and they look as they […]

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The green robot, standing at knee height, shuffled up to the stage of the San Jose Convention Center. A crowd of geeks cheered as it passed. Jensen Huang beckoned to the robot, the founder of AI chip maker Nvidia and one of the wealthiest men in the entire world with a net worth of $80 […]

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Emad Mostaque has left Stability AI. The pioneering start-up that he founded in order to create images at will. Mostaque was gifted and talented. He formed StabilityAI in order to promote the Stable Diffusion Tool, which allows users simply to type words into a program to create images. After the success of ChatGPT, the company […]

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Sir Richard Branson waived over £100 million he was due to receive from Nationwide Building Society in exchange for the use of Virgin Money as part of its £2.9 billion acquisition. Virgin is a billionaire entrepreneur who has a reputation for licensing companies to use its name in varying industries. This includes airlines, gyms, hotels […]

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Whitbread will sell or convert one third of its Beefeater pubs and Brewers Fayre estates after a failed private equity deal. Goldman Sachs was hired by the FTSE 100 firm last year to explore possible options for its 400 food-and-beverage estate which is mainly made up of two brands. Whitbread, according to sources, entered into […]

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Between West Street and Litchfield Street, in London’s Covent Garden is The Ivy. It is both a haven for theatregoers who need a drink or a front room for celebrities. A glass lift will whisk you up to the private dining room after passing through the West Street entry, which is often mistaken as a […]

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As part of its efforts to improve service, the intercity train operator Avanti struck an overtime agreement with drivers. This could bring their average annual salary to nearly £100,000. The operator of the services on west coast mainline between London, Manchester and Glasgow agreed to pay drivers a flat fee of £600 for working an […]

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It has been revealed that a Chinese company, which makes batteries for BMW electric vehicles, is about to invest billions of pounds in the construction of Britain’s largest gigafactory. EVE Energy is the largest producer of cylindrical Tesla-like car batteries in the world. It’s believed that the company has advanced negotiations for the construction of […]

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On Thursday, Congressional leaders announced a $1.2tn budget package to fund a large part of the federal Government. There are less than two weeks left to avoid a partial government shutdown. Leaders from both parties celebrated their policy victories in negotiations on the bill that will fund departments such as Homeland Security, Defense, State, and […]

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Tories presided over the largest setback in records since beginning If the Conservatives are in power, the Institute of Fiscal Studies has warned that middle- and high-income households in Britain will experience the biggest decline in living standards since the 1960s. Middle- and high-income households experienced a 1.6% decline in incomes from 2019-20 to 2022-23, […]

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BAE Systems won a multi-billion-pound contract to build Australia’s nuclear-powered submarines, which will boost British jobs and industry. The Australian government, as part of the Aukus Defence Pact between the UK and US, has selected BAE along with domestic defence company ASC Pty for the delivery of the vessels early in 2040. The SSN-Aukus attack […]

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Waitrose puts hundreds of jobs in danger as it prepares to close a warehouse that was opened only four years ago. The supermarket has announced that it will close its Enfield warehouse this summer, which could result in the loss of more than 500 jobs. Enfield was opened four years ago, as part of an […]

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Nike will take over as the German National Football Team’s sponsor, replacing Adidas. This ends a long-standing partnership between the team and Adidas, and it is a new setback for the struggling brand. After signing a seven-year contract with Nike, the DFB German Football Association announced Thursday afternoon that Nike will be the main supplier […]

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The UK government has explicitly ruled out direct foreign ownership of British newspapers in an amendment to a bill that would effectively block the takeover of Telegraph Media Group by RedBird IMI, backed by Abu Dhabi. The new Whitehall regime will ban direct investment by foreign states in UK newspapers, regardless of their size. This […]

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Donald Trump’s legal dispute with his former business partner will soon come to an end. A vote is set to decide whether the former US President can reap a $3.5bn windfall if he takes the company that runs his Truth Social network to the public. On Friday, a shareholder vote is scheduled to approve a […]

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Reddit shares soared by nearly half in their debut on the market, a vote for confidence in initial public offerings following two years of subdued activities. Stocks closed Thursday under the ticker RDDT at $50.44, up 48% from the IPO price of $35 per share. After a difficult two years, the strong debut could signal […]

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The Bank of England held UK interest rates to 5.25 percent and indicated it was moving closer to reducing borrowing costs. This will weaken sterling and boost stocks. Andrew Bailey, the Governor of the Bank of England’s Monetary Policy Committee, said that inflation was “moving in a positive direction” after the committee kept the benchmark […]

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Nationwide claims it cannot give its building society members the right to vote on its £2.9bn purchase of Virgin Money due to City takeover regulations. The lender announced the acquisition on Friday and said that it had been able to proceed with the offer of 220p per share after receiving “appropriate legal advice” Previously, Nationwide […]

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In the latest attack on the Big Tech giants, Joe Biden’s government is suing Apple over its alleged use of power to limit competition and restrict consumer choice in the smartphone industry. Apple is under pressure from rivals and regulators in the world to change the way the iPhone works. This puts its $85bn revenue […]

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The reopening the border between mainland China and Hong Kong has led to a greater than expected increase in profits at Prudential. The new business profit, which is a measure for the future profitability of policies sold, increased by 43 percent at actual exchange rates, to $3.13 Billion, beating the consensus forecast of just $2.94 […]

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Raiffeisen Bank International abandoned its planned sale of risky debt on Wednesday after a “negative market reaction” following a report claiming that the US put pressure on the Austrian bank over a deal it had made with Russian oligarch Oleg Dripaska. Investors had demanded more than €1.6bn from the Vienna bank, which was working on […]

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In the US, a new gene therapy that treats a rare genetic disorder that attacks the nervous system central of young children is priced at $4.25mn. This makes it the most costly drug in history. Lenmeldy, a medicine developed by Orchard Therapeutics, became the first US-approved treatment for metachromatic lukodystrophy this week. MLD is a […]

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Bitcoin is down 16 percent from its high of last week. Investors have stopped investing in new funds, which had been driving a big rally for this year. The largest cryptocurrency in the world, which was worth $73,800 on Thursday, fell to $60,760 Wednesday, before rising back up to just over $63,000. According to CoinShares’ […]

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Kering, the luxury goods company owned by Francois-Henri Piault, issued a profit warning due to a decline in demand for its flagship brand Gucci. The Paris-based company, unlike its competitors in the same sector who have done better, said that like-for-like retail sales would fall by 10% on an annual basis in the first three […]

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UK inflation dropped to 3.4% in Feburary, the lowest in two and a quarter years. This was due in part to a slower pace of price increases in food and restaurants. The larger-than-forecast drop in the consumer price index (CPI), from January, will give a boost Rishi Sunak who has promised to reduce inflation. It […]

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After the aviation regulator ordered that the airport reduce the fees charged to airlines, passengers will now pay less when flying into and out of Heathrow. The Civil Aviation Authority (CAA), on Wednesday, ordered Heathrow to reduce the amount that it charges carriers in the coming year and year after. This is a deeper cut […]

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The Daily Mail is preparing to cut jobs after warnings from its bosses about changes in working patterns. Ted Verity, the editor of Mail Newspapers said in a memo to employees that the publisher is taking additional steps to merge their titles and put digital at the center of “everything we do”. He said: “Inevitably […]

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Hermes is in a legal fight with two American customers who sued the French designer for refusing to sell them Birkin bags. Hermes has been accused by two Californians of selling Birkin bags only to those customers who are deemed “worthy”. In a class action lawsuit filed by a San Francisco resident, it was alleged […]

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Santander UK’s boss warned that Britain is becoming an unattractive investment destination due to high taxes, amid increasing pressure on the Chancellor. Mike Regnier told the MPs that Santander UK’s chief executive, Mike Regnier, said that Santander UK was able to attract money from other countries that would have otherwise been invested in Britain due […]

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ECR Minerals, a mining exploration company, has recently secured a significant funding round, raising £585,000 through a placement. This strategic move aims to accelerate the company’s exploration activities and unlock the potential of its vast land holdings across Victoria and Queensland, Australia. The decision to raise capital at this juncture was driven by a desire […]

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The outlook for the global economic climate is the most positive it has been in the past two years. Most fund managers believe central banks can bring inflation to the target rate without triggering recession. Bank of America’s latest survey of global fund managers found that 62% of respondents anticipated a “soft landing”, with the […]

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Indivior’s top shareholder — one of the largest institutional investors in the City — is unlikely oppose its plans to move to the United States. Indivior, a company that specializes in treating substance abuse disorders and serious illnesses, announced last month it would consult its shareholders on the possibility of switching from the London Stock […]

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The largest British pharmaceutical group has acquired a Canadian firm that is developing the next generation of cancer treatments. This is its second acquisition this week, aimed at boosting its drug pipeline. AstraZeneca is accelerating its ambition to replace chemotherapy and radiotherapy, which are traditional cancer treatments, with targeted drugs by acquiring Fusion Pharmaceuticals. Fusion, […]

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As part of its decades-long effort to create inflation, the Bank of Japan ended its negative rate policy and raised borrowing costs for first time since 2007. The central bank raised its main interest rates from a range between -0.1 and 0 percent to 0 to 0.1%. It also ended the policy of purchasing government […]

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Nvidia, the chipmaker, has increased its lead in artificial intelligent with the introduction of a “superchip”, of a quantum computing system and of a suite of new tools that will help to develop the ultimate sci fi dream: general-purpose humanoid robots. We examine what Nvidia is doing, and what this could mean. The company’s annual […]

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Tesco will drop the blue-and-yellow logo it uses to promote its Clubcard program. This rebrand could cost Tesco almost £8m after it lost an appeal over a ruling it copied a Lidl design. Legal experts say Lidl has the right to sue for compensation for trademark infringement, which could result in a multi-million pound bill […]

The post Tesco will spend £8m on changing the Clubcard logo following Lidl’s win. appeared first on Stockmark.IT.

Ted Baker’s European Retail and Online arm will appoint administrators. This puts almost 1,000 jobs in danger at the British brand. The fashion brand has struggled for years due to increased competition and the fallout of the departure of its founder Ray Kelvin in 2019. Kelvin resigned in 2019 following allegations of ‘forced hugging’. In […]

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The UK’s inflation rate fell to just 3.4% in the month of February, the lowest it has been for over two years. This is because the pace of annual price increases began to slow down again after having stagnated the previous months. The larger-than-expected decline in consumer prices (CPI) , from 4% in Jan, will […]

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As the cost of theft increases, retailers are beginning to question the use of unmanned scanning devices. One shoplifting technique has become so popular that staff members have named it. The “banana tricks” involves putting a product through and a self-checkout, thinking it is a cheap fruit/vegetable item. But you end up with something much […]

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Investors buy shares in European travel, luxury and retail goods, betting on a recovery of the economy to encourage consumers to spend more on expensive holidays and items. Renault and Stellantis, two carmakers, have both risen by more than 25% since the start of February. German entertainment group Eventim has risen by 23 percent and […]

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Microsoft has hired Mustafa Suleyman to lead a new consumer-facing AI unit. Suleyman is the co-founder and CEO of Google’s DeepMind, as well as the chief executive officer of Inflection. Microsoft announced Tuesday that Suleyman will be reporting to Satya Naddella, its chief executive. He is a British entrepreneur and co-founder of DeepMind, which was […]

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Costa Coffee, Starbucks, and Pret a Manger are the three biggest players in the British ready-to drink coffee market. But there’s another company that wants to provide caffeine on the move. Nespresso is the coffee capsules brand that George Clooney and David Beckham promote. It will open its first coffee shop for on-the-go customers on […]

The post Nespresso opens its first UK cafe to take advantage of the UK coffee boom appeared first on Stockmark.IT.

Pfizer is selling a stake of its former joint venture in consumer healthcare, Haleon. The sale will be worth approximately £2.3 billion. The American drug company intends to reduce its remaining holdings in the manufacturer of Sensodyne tooth paste and Panadol painkillers, from 32 percent to approximately 24 percent. Pfizer is selling down in two […]

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Tata Steel announced abruptly that it would cease operation of coke ovens in its Port Talbot facility in South Wales. This move was condemned as a “massive strike” by a union. Steelmaker Tata said that it made the decision due to a “deterioration in operational stability”. About 200 workers will be affected by the move, […]

The post Tata Steel’s decision to close Port Talbot’s coke ovens early is condemned by unions appeared first on Stockmark.IT.

Evergrande has been accused by the UK of inflating their revenues fraudulently by £62bn. Hui Ka Yan is the founder of the property giant Evergrande. According to the China Securities Regulatory Commission, Hui Ka Yan “instructed” other employees to “falsely inflate the company’s account in 2019 and 2020.” Recognizing sales in advance led to an […]

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Solar panel manufacturers are set to cut their workforce by almost one-third as they struggle with an oversupply of panels and fierce competition. Longi Green Technology Energy, a Chinese company, plans to reduce its staff by 30pc in a new round of layoffs. The first phase began four months earlier. The move comes as China’s […]

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A top central banker warned that governments must stop “relentless borrowing” or they risk plunging into a global debt crisis. Agustin Carlstens, the head of the Bank for International Settlements (BIS), a global club for central bank chiefs, has warned world leaders that rates will not be returning to recent lows anytime soon. Continued heavy […]

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Deloitte launched its biggest global overhaul in 10 years as it seeks to reduce costs and the complexity of the organisation in light of an anticipated market slowdown. Deloitte will reduce its five main business units from 2014 to just four: audit and assurance, strategy, risk, and transactions, technology and transformation, and tax and legal. […]

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ITV is cutting staff as it struggles to cope with a dramatic drop in advertising revenue. ITV terminated employees from its internal advertising agency in the last month. The job cuts come as ITV faces its biggest advertising slump since the financial crash, although a source denies that the job cuts are linked to this […]

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Saudi Arabia, Gucci and Kering-owned Gucci are said to be in a race for Selfridges after the bankruptcy of the department store co-owner triggered a battle over the business. According to sources in the City, both Saudi Arabia’s Public Investment Fund and Kering, the luxury goods company owned by French billionaire Francois Piault, may be […]

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This weekend, the boss of the Belgian insurance company that made the audacious bid for Direct Line to the tune of £3 billion will be flying to China to meet with his largest shareholder amid rumors that he’s racing to gain support for a higher offer for the FTSE 250. Hans De Cuyper will meet […]

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Bluebell Capital, an activist investor, has launched a new campaign to force the $10 trillion fund giant BlackRock to rethink its lauded commitments towards environmental and social governance (ESG). Next month, the London-based hedge funds, who have previously attacked Danone and GSK will likely attack the largest asset manager in the world. Bluebell believes BlackRock […]

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Most people prefer to take a pill rather than inject themselves with medication when they are sick. This simple fact helped Novo-Nordisk, (stock ticker:NOVO), to become the third-most valuable holding in my “forever fund” after renewed hope from the pharmaceutical company that its wonder drugs Ozempic or Wegovy could be delivered without a need for […]

The post Novo-Nordisk gives me a boost with a double dose of power. appeared first on Stockmark.IT.

British Airways, and its parent company will use self-driving robotic baggage carriers for the first in a UK airport as the aviation industry struggles with staff shortages. International Consolidated Airlines Group, which owns BA and Gatwick Airports, will deploy driverless luggage tuggers at Gatwick airport and Cincinnati airports by May. The autonomous vehicles will transport […]

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British American Tobacco’s chief executive has called the idea of moving its listing from London to New York a “distraction” after learning that one of the company’s top-10 shareholders who had pushed for this change left his position. Tadeu marroco said that a listing change “would cause a lot internal distraction” and was “not certain […]

The post BAT Chief: Moving to US is not a “no-brainer” as he defends London Listing appeared first on Stockmark.IT.

Mike Lynch, one of the UK’s most successful entrepreneurs in the tech sector, will be on trial on Monday in San Francisco, 13 years after the “largest fraud in Silicon Valley’s history”, as described by US prosecutors. Lynch, who sold Autonomy software to Hewlett-Packard in 2011 for $11.7bn, faces charges of falsifying Autonomy’s accounting two […]

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Vladimir Putin has won the Russian presidential election with a landslide, securing his reign for six more years despite his invasion of Ukraine. According to the Russian electoral committee, the early results indicated that the Russian President was on course to be reelected, with a record 88% of the votes and a turnout of over […]

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Jason Brewer, CEO of Marula Mining, discusses significant company progress with Share Talk. This includes the company's imminent listings on multiple stock exchanges, notable progress in lithium and copper projects, expansion ventures into manganese and graphite mining in Kenya, and the optimistic forecast regarding the company's growth and profitability.

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The EU will take a major step to confiscate a possible €27bn profit that could be generated by Russian assets in Europe, which are frozen for the next four-year period. This money would help finance the war effort in Ukraine. Officials from the European Commission will likely present a proposal that they consider to be […]

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UK start-ups have launched their technology overseas despite the regulatory uncertainty Industry chiefs warn that Britain is falling behind Europe in the development of driverless cars, as slow regulation forces new start-ups and their technology to move abroad. Mike Hawes is the chief executive of the Society of Motor Manufacturers and Traders. He urged the […]

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News of the sale of shares comes as owner of beer tries to reclaim all American reputation After a backlash due to an ad campaign featuring a female transgender influencer, the owner of Marlboro cigarettes will sell $2.2bn of shares (£1.7bn). Altria Group – one of the largest tobacco companies in the world – announced […]

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Transport Secretary threatens “robust” sanctions amid fears that low-cost models may flood Europe The Transport Secretary said that Britain would use “robust” sanctions to stop China from flooding car markets with cheap electric vehicles. Mark Harper warned on Thursday about the danger posed by Chinese companies pushing new low-cost models into Europe. He cited the […]

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Savills boss claims that the commercial property market has suffered more in the last year than even during the global economic crisis. In 2023, the property agent’s profit collapsed as he was no longer able to find work. Investors chose to stay put as borrowing costs rose and property values dropped sharply. Mark Ridley is […]

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The growth of the Danish economy last year was almost entirely due to Novo Nordisk Pharmaceuticals, the company behind the weight-loss injection. Statistics from Denmark’s statistical agency reveal that the drug industry in the country, which is dominated largely by Novo Nordisk, was responsible for the 1.8% growth of the economy in 2023. This helped […]

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The largest pharmaceutical company in Britain has signed a deal to buy a French company that specializes in rare diseases for more than $1 billion. This is part of its efforts to boost the pipeline of drugs. AstraZeneca agreed to purchase Amolyt Pharma. The biotechnology company is focused on endocrine disorders and backed up by […]

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Welsh Water has agreed to pay its customers £40million after misleading regulators regarding its performance in terms of leakages and water consumption. Ofwat, a water regulator, stated that the company has been providing inaccurate data to its customers for the last five years, in an “indefensible manner”. It ordered the company to pay compensation to […]

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John Lewis Partnership bosses have denied that they plan to separate their struggling department stores and Waitrose supermarkets. They have also ruled out the possibility of selling a share in the company to raise money. The industry has speculated that the Mutual Group could split their food and fashion divisions, amid fears that John Lewis’ […]

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Metro Bank has slashed hours and canceled the seven-day opening of its branches after losing 1,000 jobs. As part of an 80 million pound cost-cutting campaign, the high street lender , which was saved in an emergency fundraiser last October, , will no longer be open on Sundays. The early morning opening hours and late […]

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BP has halted negotiations on a $2bn deal (£1.56bn), which would have invested in an Israeli gasfield, as warfare with Hamas rages in Gaza. The British oil giant was expected, along with Abu Dhabi National Oil Company, to purchase a 50% stake in Tel Aviv listed NewMed Energy. This company is the owner of Leviathan […]

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As a result of growing concerns about the potential weaponisation of this technology by foreign militaries, the government is taking action against exports to foreign buyers. Exporters are prohibited from selling powerful Quantum Computers until they receive a license at the beginning of this month. Export Control Joint Unit which monitors sales of sensitive items […]

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Adidas has blamed an overstocked market for its warning that sales in North America will decline this year. The German sportswear company continues to sell trainers from the axed Yeezy collection, despite having announced in October 2022 it would terminate its collaboration with Kanye West immediately after the rapper’s anti-Semitic comments. Adidas’ first net loss […]

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Imports of energy, which are expensive, contributed to a larger trade deficit than anticipated at the beginning of the year. The official figures show that the UK’s trade deficit with the rest the world increased by £2.2 billion, to £13.8billion in the three-month period ending January. The increase in imports of £900m was mainly due […]

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The Bank of England governor acknowledged that policymakers have a difficult time with inaccurate data. He admitted that he wished that they had accurate numbers on unemployment. Andrew Bailey said to an Italian audience that the UK job market is close to 100% employment, despite an increase of borrowing costs. Bailey stated, “I wish that […]

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The CEO of MBDA (Europe’s largest missile manufacturer) has urged EU decision-makers to ensure the UK is included in the new strategy for the bloc to develop its defence industry, as the region seeks a response to increasing geopolitical tensions. Eric Beranger stated that, even though the UK left the EU on January 2020, it […]

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Volkswagen is looking at partnering with carmakers in order to produce electric vehicles that are cheaper. This will help the company compete with an upcoming wave of low-cost competitors from China. Oliver Blume, the chief executive of the world’s second largest carmaker, told a Berlin press conference that he plans to make an EV for […]

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A activist investor called on Glencore’s London listing to be moved to Sydney, and to abandon plans to spin-off its profitable coal division. Tribeca Investment Partners is an Australian hedge-fund that wrote to Glencore this week to offer a number of suggestions to increase the share price. According to the letter, the Australian fund said […]

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