In an effort to reduce its growing deficit, the French government proposed a budget that would cut spending by €60bn and increase taxes on wealthy companies. Prime Minister Michel Barnier made tackling France’s ‘colossal’ public debt his top priority, despite political risks such measures pose to his fragile minority government. Barnier stated on Thursday that […]

AMD’s CEO believes that the chipmaker has closed the performance gap between Nvidia and its market-leading artificial Intelligence processors. The company unveiled new products aimed at a market valued at hundreds of billions. The Silicon Valley-based company announced on Thursday that its MI325X chips will be available to customers by the end of the year. […]

Portugal plans to become a tax-free haven for young people by offering them a decade’s worth of tax breaks. This is to stop a brain drain. The centre-right government of the country wants to reduce income tax burdens on young people over a period of 10 years, including a year when no tax will be […]

Moody’s reported on Thursday that private equity groups such as Platinum Equity, Clearlake Capital, and Apollo Global struggle with their heavy debt loads. In a recent analysis, the agency noted that the recent rise in interest rates has put some of the fastest-growing PE firms in the US under pressure. The report said that more […]

The country’s top infrastructure advisor has stated that Britain needs to prepare for road price in order to cover a £35bn tax revenue shortfall from the switch to electric vehicles. Sir John Armitt (chairman of the National Infrastructure Commission, NIC) said that it was time to have a “proper debate in the public” on the […]

After heavy rains last winter, England’s second-worst harvest in history has been recorded. There are growing concerns for next year after the production of key crops such as wheat and oats was affected. The UK’s rapidly growing wine industry has been hit particularly hard by the cold and damp weather that lasted from last fall […]

EDF, the French energy company, is reported to be in talks with investors about raising up to £4bn for the Hinkley Point C project that has been delayed in Somerset. This is Britain’s first nuclear reactor in a decade. The French-owned utilities company has sought investors to cover the soaring cost of building the nuclear […]

On Thursday, rescue operations began in Florida as officials assessed the damage caused by Hurricane Milton. The storm had crossed the state over night and left millions of people without electricity. Florida Governor Ron DeSantis said on Thursday that state search and recovery teams had rescued 340 people out of torrential flooding and from destroyed […]

The UK’s financial watchdog has fined TSB Bank £10.9m after finding that its “woreful” system put customers at risk. The Financial Conduct Authority (FCA), after finding that TSB had not treated customers with arrears in a fair manner, fined the bank. Watchdog warned that TSB’s failures could lead to customers with financial difficulties being charged […]

TGI Fridays, the restaurant group, has finally agreed to pay its workers what they are due after being laid off. This week, more than 1,000 employees lost their jobs when 35 TGI branches were closed after a failed private equity-led rescue. The video call was made by the head office to inform workers of their […]

Mark Carney, former governor of Bank of England has given his support to Labour’s proposal that the national debt be recalculated by including assets. He argues that this will stimulate an economy “starved of investment”. Carney, in his most public support yet of Rachel Reeves’s potential plans to target an increase in “public sector net […]

The Financial Times reported a record number of paying readers at 1.4 million, although profits dropped sharply because of higher costs. Business publication reported that the pre-tax profit for the year ended December 2012 was £3.9m, compared to £6.8m the previous year. The revenue rose by 5 percent to £443.9million, while digital content revenues increased […]

Google’s UK and Europe boss is retiring after nearly two decades in which he guided the internet giant to a $2 trillion market valuation. Matt Brittin will depart in the New Year as the industry shifts focus to artificial-intelligence and adapts to new regulations around the world. Before taking a break, he will stay with […]

Unilever sold its Russian subsidiary for €520m to a local group after being criticized for continuing operations in the country following its invasion of Ukraine. Unilever, the London-listed consumer company, has been called a “sponsor” of war for not leaving Russia earlier. It said that it had reached a deal to sell Unilever Rus. Arnest […]

HSBC will make a second effort to combine its Commercial Banking Division with its Global Banking and Markets Unit in a shakeup that could result in hundreds of job cuts among long-serving senior employees. The bank declined to comment on an article that claimed it was hoping to save up to $300 million by merging […]

Brookfield, a major investment group in the world, has outbid a competitor and agreed to a deal worth £557million for Tritax EuroBox. Segro, Europe’s largest shed owner , had made an offer of 68.4p per EuroBox share, but this bid is 69p. Segro had offered £552million at the time. However, its share price fell since […]

Last month, the consumer prices in America declined more slowly than anticipated as rising food and housing costs drove inflation. According to the Bureau of Labor Statistics, the consumer price index (CPI), rose by 0.2 percent in September. The consumer price index (CPI) rose by 0.2 per cent to end-September compared to 2.5 per cent […]

The NHS plans to use private hospitals to address a growing crisis as part of a £1 billion initiative to reduce waiting lists. This marks the largest expansion in healthcare since Tony Blair’s time as Prime Minister. Cancer screenings, surgeries, and intensive care for NHS patients would increasingly occur in private facilities under proposals sent […]

Laws to prevent a repeat of the P&O Ferries mass sackings scandal will be presented to parliament this week as Labour focuses on improving working conditions at sea, including for cruise and cargo ships. Transport Secretary Louise Haigh stated that the new laws will close loopholes used by P&O when it fired 800 crew members […]

Boeing has pulled its 30 percent pay offer to striking factory workers as negotiations to end the costly strike have collapsed. S&P Global Ratings has warned it may downgrade Boeing’s investment-grade credit rating to junk status, which would raise borrowing costs at a time when the company is trying to save cash. The strike, the […]

Pockit, a business that provides financial services to the “unbanked”, acquired Monese from HSBC, resulting in a combined company serving three million clients.  Monese, supported by UK taxpayers through the Future Fund scheme, was previously valued at £1 billion but was seeking funds to ensure its survival. Terms of the deal have not been disclosed. […]

Rio Tinto struck a $6.7billion deal to acquire a lithium miner, making it the third largest producer in the world of this key ingredient for electric vehicle batteries. The London-listed company is paying $5.85 per share in cash. This represents a 90% premium over Arcadium Lithium’s closing price on October 4, which was $3.08, before […]

Mondi, a FTSE 100 packaging company that failed in its bid to acquire UK rival DS Smith has acquired a German competitor. It has acquired western European assets from Schumacher Packaging. This family-run company is based in Germany’s Saxony heartlands. Mondi said that the deal, worth €634m, is complementary to its existing European assets. The […]

Chinese stocks fell the most in a single day since the pandemic, amid fears the government’s measures to revive the second largest economy of the world will fail. The Shanghai Composite Index, China’s benchmark index, dropped 6.6% on Wednesday. Meanwhile the blue-chip CSI 300 index fell 7.1%. This is the largest percentage drop in a […]

The US government may ask a judge for an order to dissolve Alphabet, Google’s parent company. The US Department of Justice has listed this as one of the remedies after a judge ruled in August that Google built an illegal monopoly. In a 32-page filing, the potential remedies have been laid out for the judge’s […]

GSK, the second largest pharmaceutical company in Britain, has agreed to pay up to $2.2billion to settle 80,000 US court cases involving its blockbuster drug Zantac. GSK announced after the London stock exchange closed that it had reached a settlement with ten companies representing 93 percent of all Zantac cases brought against the FTSE 100 […]

OpenAI has adopted a corporate structure that is still largely untested to protect itself from hostile takeovers, and chief executive Sam Altman against outside interference. The AI start-up that received $6.6bn of new funding last week plans to restructure into a public benefit company, a rare and new type of business model adopted by AI […]

As part of a G7 initiative to fund Kyiv’s defense against Russian aggression, EU countries approved a loan to Ukraine of up to €35bn  before the year ends. According to sources familiar with the issue, a majority of EU Ambassadors backed the issuance on Wednesday of a loan that would be guaranteed by the EU’s […]

On Wednesday evening, Hurricane Milton hit Florida’s heavily populated west coast. The storm brought life-threatening floods and extreme winds for the second time within two weeks. US National Hurricane Center reported that the cyclone, which was a category 3 storm on the Saffir-Simpson five-step scale with winds of 120mph made landfall in Sarasota County near […]

Rachel Reeves ruled out an exit tax for wealthy people who leave the UK in order to avoid higher taxes, in this month’s Budget. Meanwhile, business is bracing itself for a hike in the capital gains tax. In recent days, the chancellor was urged to introduce a new tax on those who sell their assets […]

Imperial Brands will increase shareholder returns to £2.8 billion next year after continuing to generate huge amounts of cash through price increases. The FTSE 100 company that makes JPS and L&B cigarettes reported trading in line with expectations. The Bristol-based company said that it achieved revenue growth for its tobacco business and its smaller ecigarettes […]

Only two companies listed on the London Stock Exchange in the third quarter. The total raised was £64.8m, an 82 percent drop from the same time last year. EY, an accountancy firm, reports that there were only ten listings this year. They raised a total of £584.6million, a 47 per cent drop from the previous […]

Senior, a UK engineering company, will be forced to lay off staff due to the crisis at Boeing and the delays in returning to full production by Airbus. Senior, a FTSE 250 company, pays the price of being a major supplier to two troubled aircraft manufacturers. Senior shares fell more than 12 percent on Tuesday, […]

Shein, a Chinese-founded fast-fashion online retailer, doubled its profit in Britain, and overtook Boohoo, before a planned blockbuster London float. According to new accounts filed at Companies House, Shein UK’s pre-tax profit rose from £12.2 to £24.4 in the year ending December. It paid £5.7 in income tax. Singapore-based retailer, who is looking at a […]

Diversified Energy, which joined London’s junior oil and gas market seven years earlier, positioned itself as an unusual and unique prospect among the other oil-and-gas minnows. The American producer promised to give investors a bumper cash return, backed up by a constant stream of cash generated from the gas wells that were not loved by […]

After acquiring a $1bn stake in Anglo American rival BHP, activist hedge fund Elliott described its long-term view on the British mining conglomerate as “very interesting” and “very intact”. Nabeel Bhanji, an equity partner at Elliot, said that the US hedge funds was having a “very positive [and] constructive” dialogue with Anglo management. Bhanji said […]

Investors who manage £1.7tn in assets have called on UK chancellor Rachel Reeves, to overhaul Britain’s fiscal regulations to unlock billions more pounds for infrastructure projects. The group of Pension Investors, including Australia’s IFM as well as the UK’s Universities Superannuation Scheme, called on Reeves’ to redefine the key measure of debt in her Budget […]

Asian battery manufacturers are racing to create new “superfast charging cells” for electric vehicles. These will allow refuelling cars as quickly as they can fill up with petrol or diesel. China’s CATL, and Gotion High Tech are launching this year batteries that can charge from 10% to 80% in less than 10 minutes. It is […]

Abu Dhabi’s sovereign fund has written-off its investment in Thames Water, a blow for the Labour government who is preparing to host a summit to attract large institutional investors to the UK. Accounts filed in June by a Luxembourg-registered subsidiary of the Abu Dhabi Investment Authority (Adia), which holds a 9.9 per cent stake in […]

Seb Kinsey, 18, grew up in Glossop near the Peak District, Derbyshire. Growing up there gave him a love for geography, geology, and the outdoors. Kinsey, who finished his A-levels in summer and is heading to university this fall, wanted to spend a gap year working on the FrenchAlps. He said, “I was fortunate to […]

After a failed rescue by private equity of the struggling British restaurant group, TGI Fridays has lost more than 1,000 jobs and closed 35 branches. D&D London, the owners of top City restaurants such as Coq D’Argent, Le Pont De La Tour and Coq D’Argent, is buying 51 TGI Fridays restaurants from administration, saving approximately […]

The right to appeal has been won by a Vietnamese airline facing a bill of up $250 million for compensation in a High Court case over aircraft leases between a London investment firm and a Vietnamese airline. Vietjet is a private airline that aims to fly from Vietnam to London. FitzWalter Capital Limited, a private […]

The largest pharmaceutical company in Britain has signed a license agreement with a Chinese firm that could be worth up to $ 2 billion. This is to develop a drug for treating high cholesterol and cardiovascular disease. AstraZeneca entered into an exclusive agreement with CSPC Pharmaceutical Group headquartered in Hebei in north China to advance […]

Very Group’s ownership by the Barclay family is being reviewed as their corporate empire continues its decline following a £1.2billion debt deal with a Joint Venture backed by funds from the United Arab Emirates. Barclays JP Morgan, Morgan Stanley and Morgan Stanley are evaluating options for the future of Very Group, including a potential sale […]

Richemont struck a deal with its German competitor Mytheresa to sell Yoox Net-a-Porter to them after an earlier sale agreement failed. The Swiss luxury conglomerate that owns Cartier, as well as other high-end fashion and jewellery brands, was looking to sell YNAP, after a previous attempt to sell it to Farfetch in December of last […]

After rising for the third consecutive month in September, house prices are now within a whisker’s distance of their records highs. Halifax, one the largest mortgage lenders in the country, has released the latest figures showing that prices rose 0.3 percent last month. This is the same as the rise seen in August. Halifax estimates […]

Rio Tinto may make a bid to acquire a New York listed lithium miner, as the largest commodity groups in the world race to secure the metals and minerals that will power the global shift to cleaner energy. If the deal for Arcadium Lithium is successful, the second-largest miner in the world will be catapulted […]

BP plans to abandon an ambitious goal to reduce its oil and natural gas production by the year 2020 as it fights to close a valuation difference with competitors in the energy sector. Bernard Looney, the CEO of FTSE 100 Oil Company, set a 2020 goal for the company to increase spending on renewables and […]

India announced a $760mn bailout package for the Maldives. The cash-strapped Indian Ocean island nation turned to New Delhi in order to avoid a sovereign default, despite its president’s attempts to lean towards China. India’s Central Bank announced on Monday that it had agreed to currency swap lines worth $400mn ($357mn), and Rs30bn (about $357mn), […]

Tennet, the Dutch state-owned electric utility company, has hired investment bankers to investigate an initial public offering (IPO) for its German subsidiary. The Dutch firm is looking to cut its ties with this capital-hungry enterprise after failed talks to sell to Berlin. Tennet has lined-up bankers from Goldman Sachs Morgan Stanley ABN Amro Deutsche Bank […]

A tribunal has ruled that the Premier League’s commercial agreements rules between football club owners, and their related companies, are illegal. This is after a legal challenge by Manchester City, which will require some of these regulations to be revised. City, owned by a family member of Abu Dhabi’s ruling family, , challenged earlier this […]

The UK Serious Fraud Office (SFO) and Eurasian Natural Resources Corporation are giving themselves 24 hours to resolve a dispute about the conduct of the agency during an investigation into a Kazakh mining group. The civil trial ENRC was scheduled to begin on Monday has been delayed for one day, while settlement negotiations are taking […]

Rachel Reeves is unlikely to hit the private equity industry with the 45p top tax rate this month, because she’s looking for to find a compromise deal to close the tax “loopholes”, which doesn’t drive investors away from Britain. Reeves said that she will not be “ideological”, about taxing wealthy people, ahead of the international […]

Over 40 companies, including Ocado and the AA, have called for the Mayor of London not to expand the congestion charge on electric vans. Christmas Day 2025 will see drivers of electric cars in central London paying the same £15 per day as those who drive petrol or diesel vehicles. Businesses say that this will […]

Retailers are usually quick to announce price reductions and quiet about price increases, but some wine retailers have broken ranks to alert customers to the looming increase due to changes in taxation. The campaign is being led by Majestic Wine as well as Laithwaites Cambridge Wine Merchants, and the Wine Society. They are all trying […]

Administrators have reportedly reached a deal to save over 2,000 jobs at the UK branch of the TGI restaurant chain. Calveton & Breal Capital, the private equity owners of upmarket restaurants such as Le Pont de la Tour, Quaglino’s, and Coq d’Argent, are reportedly on the verge of purchasing up to 55 out of the […]

Former Google boss Eric Schmidt is one of many high-profile executives who will be attending the first international investment summit organized by the Labour government. Schmidt, former Google chief executive between 2001 and 2011, will play a major role in the central London summit on the 14th of October. He will be in conversation with […]

The Czech government has taken a small stake in the Rolls Royce SMR consortium. This consortium hopes to build and market fleets of nuclear reactors in order to meet the increasing demand for energy in 2030s. The Czech Republic announced a partnership last month with Rolls-Royce SMR for the construction of small modular reactors in […]

Mike Ashley’s retirement from the board at his retail empire Frasers Group was never expected. After all, the man had spent 40 years torturing his rivals on the high street. It was true. Frasers chairman David Daly sent a request to Chris Roberts at Mulberry (the luxury handbag manufacturer it owns) on November 12, 2022. […]

The Bank of England chief economist stated that interest rates should fall slowly and remain higher in the long term to combat stubborn inflation. This suggests a growing disagreement among central bank rate-setters. Huw Pill predicted that the UK economy would undergo a “virtuous circle” of stabilising the inflation rate over the next year. He […]

Meta (the owner of Facebook and Instagram) announced on Friday that it had developed a new artificial-intelligence model called Movie Gen, which can create realistic audio and video clips in response user prompts. It claimed it could rival tools from leading media creation startups like OpenAI or ElevenLabs. Meta provided samples of Movie Gen’s work, […]

The UK’s Competition Watchdog has given its approval to the £2.5bn purchase of Redrow by UK’s largest housebuilder Barratt. The Competition and Markets Authority announced that it accepted commitments from both companies in order to address concerns about a possible local competition issue. This means the deal won’t be referred to a more extensive phase […]

Bank of England monitors the Middle East Crisis amid fears that a worsening warbetween Iran & Israel will make it difficult to stabilize oil prices, leaving the global economy susceptible to an energy shock similar to the 1970s. Andrew Bailey, Bank of England governor, said that he is watching developments “extremely carefully” and there are […]

Stefano Vaccino gave a blunt appraisal of the risks involved in starting a new business. “As founders we left our secure jobs to take risks, put our own lives and the lives of our families at risk, and put our savings on line.” In 2017, when the former Goldman Sachs Banker founded Yapily, an innovative […]

Tate & Lyle is the latest company that has taken advantage of recent reforms to listing rules. It announced it had dropped plans to submit a proposed £1.4billion acquisition to a vote by shareholders. According to the old rules, the purchase by the food company of US ingredients manufacturer CP Kelco, would have been classified […]

Dockworkers in ports along the east and Gulf Coasts of America have agreed to resume cargo movement while they continue bargaining collectively with their employers for a new contract. The International Longshoremen’s Association announced that it had reached an agreement with the union on wages. They have extended their contract to January 15, so they […]

The first phase of an ambitious project to build the largest wind farm in the world on British waters was pushed to the second half next year. Dogger Bank A was to be completed in the six-month period leading up to the end September. It will, together with two sister wind farms, have a combined […]

Oil prices reached their highest level in over a month, amid fears of retaliatory attacks by Israel on Iranian oil installations. Biden responded, “We are in the process of discussing that,” adding “I think it would be a bit… anyway.” Brent crude, an international benchmark, rose by up to 5 percent, reaching $77.54, its highest […]

Andrew Bailey said the Bank of England may become “a bit more aggressive” with its interest rate reductions if inflation continues decreasing. Analysts suggest the Bank might embark on successive rate cuts continuing through next year. The Bank of England governor’s comments pushed the pound to its lowest level against the dollar since over a […]

Former minister calls on government to investigate whether Starling Bank should “clawe back” money in light of regulatory investigation which found that the bank had left the financial system “widely open to criminals”. Lord Agnew, of Oulton, called for a review of the bank’s pandemic lending scheme of £47 billion after a City regulator fined […]

Tesco’s boss claimed that consumers were “in good shape” and began to buy more expensive products before Christmas. This led the country’s largest grocery store to raise its profit forecast. Ken Murphy was upbeat about the consumer’s morale after its premium food line saw a surge in sales on Thursday, despite reports that painted a […]

Ford has urged the new Labour government in the UK to put an end to the ambitious sales targets set for electric cars and the harsh penalties that will be imposed on manufacturers who fail to meet them. The American auto giant, which was once the dominant leader in the British motor industry but has […]

The motor industry urged the chancellor on Tuesday to reduce the VAT rate for new electric vehicles, as well as public charging stations to stop the decline in the electric vehicle sector. The Society of Motor Manufacturers and Traders, (SMMT), wrote an open letter addressed to the chancellor stating that the EV market share was […]

Banks and investment firms are increasingly worried about geopolitical risk, according to the Bank of England. This is due to the Middle East conflict. In its latest survey, the Bank polled 93 percent of firms who cited geopolitics to be the greatest threat to the UK financial system. This is an 8-point increase from its […]

AO World has acquired a gadget seller that was valued at more than £200million by public market investors. The City is continuing to suffer losses on the ill-fated floats in 2021. AO World agreed to purchase electronics company musicMagpie from its founders, Steve Oliver and Walter Gleeson in 2007. The market value of the business […]

JD Sports boss has dismissed the issues facing Nike, the company’s biggest supplier. He credited its store range for compensating weaknesses in individual brands. Regis Schultz said that the retailer is on track to reach its profit target, which ranges from £955 billion up to £1.04billion, despite slowing demand for Nike’s products, and operating in […]

OpenAI raised $6.6 billion as part of a fundraising round, which values ChatGPT at $157 billion. This shows the level of investor confidence in artificial intelligence technology. San Francisco-based company said that the investment would allow them to increase their computing power, continue developing problem-solving software, and redouble their efforts in AI research. This is […]

Sellafield must pay nearly £400,000 to settle criminal charges brought against it for years of cyber security failures at Britain’s largest and most dangerous nuclear site. According to the regulator who brought the charges, the vast nuclear waste dump Cumbria exposed information that could have threatened national security for four years. The regulator also discovered […]

Amazon will increase the number of ads on its Prime Video streaming service for its most popular television shows and films next year, as it intensifies its push to monetize its services. The company claimed that it has not seen a dramatic drop in subscribers after it added advertising on its Prime Video platform 8 […]

TotalEnergies’ chief executive said that the French oil major would reduce its investment in the UK if the government increased the windfall tax. Patrick Pouyanne says the plans of the Labour government to increase the tax rate and eliminate investment allowances, which allow companies to lower their tax bills, are even more problematic than the […]

Harold Hamm, a US shale oil magnate, has accused Biden’s administration of making the country “unusually susceptible” to an Middle East oil price spike by draining the nation’s strategic petroleum reserves, damaging the domestic production and botching foreign policy. Continental Resources’ founder said he was “very worried” about the Middle East conflict disrupting global oil […]

LVMH is set to become the top sponsor for the Formula One car racing franchise as it continues its push into the sports world. The agreement is expected to begin in 2025, and last for a period of ten years. LVMH announced this on Wednesday. According to two sources familiar with the deal, it is […]

Tesla’s quarterly deliveries of vehicles fell short of expectations and dampened hopes of a robust recovery on the backs of a rebound in Chinese auto demand. In the three-month period ending September, the company sold 462,890 cars worldwide. This is an increase of 6.4% compared to a year ago. This was the first increase this […]

After a meeting between the EU and UK in Brussels to “reset” post-Brexit relationships, the EU and UK committed to holding the first of a series annual summits in 2019. The  meeting with European Commission President Ursula von der Leyen UK Prime Minister Sir Keir starmer stated that they “agreed to do more together, especially […]

The oil price rose by 4 percent after Iran launched an attack on Israel, the latest escalation of the conflict in the Middle East. One-month contracts for crude (the international benchmark) increased by $3.10 or 4 percent to $74.95 per barrel. Iran – the regional power which supports militant group Hezbollah – launched a missile […]

The global supply chain is disrupted after dock workers on strike in ports along the east coast and Gulf Coast of America. The industrial action in 36 ports that handle half of America’s shipping by ocean has caused delays for container traffic from Maine to Texas. The strike started in the early morning hours of […]

Dobbies plans to close 17 of its 77 shops, which will affect 465 jobs. The new owners are trying to bring the garden centre group back to profitability. The company that employs 3,600 people said they were seeking approval from creditors for a reorganization plan to reduce their rent bill. Eleven large, unprofitable garden centres […]

The government is asking ministers to cut billions of pounds from infrastructure projects in the next 18-months, despite Rachel Reeves promising to invest more for the growth of the economy. Sources in the government said that members of cabinet were asked to reduce their capital expenditure plans by up to 10% as part of this […]

The Irish Finance Minister has described the €14bn windfall tax from Apple as “transformational”. This comes just weeks after the Irish government lost its case at the European Court of Justice arguing that the tech company should be allowed to keep its money. Jack Chambers, who unveiled the budget for the country on Tuesday, said […]

Stefan Lofven visited Northvolt’s base in Skelleftea, near the Arctic Circle, Europe’s first battery gigafactory, just three years ago. He declared that the city was “the future” of the fight against climate change. The Social Democrat said that the work of Northvolt was important for Sweden and for the rest of the world. Arrival of […]

Water suppliers have been accused by small businesses of burdening them with the costs of “historic mistakes” made by the bosses of the scandal-hit water industry. It was revealed that their prices may rise by nearly 30% by 2030. Ofwat has informed businesses that they expect average wholesale charges to rise by 27% over the […]

Pink Floyd, a British rock band, agreed to sell their entire catalogue of hits, including Wish you were here, Money, to Sony Music for approximately $400mn. According to two sources familiar with the deal, Pink Floyd’s recorded songs are included in the agreement. This resolves the fate for one of the most valuable assets at […]

Michel Barnier, France’s new Prime Minister, warned that the repair of the degraded country’s public finances would require years of “collective efforts” and announced “temporary targeted” tax increases on large businesses and the wealthy. Barnier, in an address to the National Assembly on Tuesday outlining his agenda for government, said that our debts were “the […]

OpenAI believes that AI-powered assistants, such as those from Google and Apple, will “hit mainstream” next year, as technology groups race to bring AI agents to consumers. AI agents that can complete complex tasks and reason for humans have emerged as the new front of the tech industry’s battle to maximize revenue from this rapidly […]

Nike announced a 10% drop in its quarterly sales on Tuesday and retracted its full-year outlook. Shares fell as the world’s biggest sportswear manufacturer navigated a turbulent period before the arrival of their new chief executive at the end of this month. Nike’s stock dropped as much as seven per cent after hours trading, after […]

SoftBank, owned by Masayoshi Son, will invest $500mn in OpenAI. The investment is part of an upcoming fundraising round which should close this week. SoftBank is investing via its second Vision Fund. This large vehicle to support start-ups now comprises mainly Son’s wealth, two people familiar with the deal said. SoftBank is joining existing investors […]

Kemi Badenoch said that UK minimum wage and maternity leave rules were among the regulations “overburdening business” and causing certain companies to close. She was trying to gain momentum during the four day beauty parade of Conservative Leadership candidates. Badenoch is a former Business Secretary who warned the country that it was being faced with […]

After being stranded in Belfast for four months, more than 100 passengers will finally depart Belfast Monday to embark on a “perpetual cruise” around the world lasting three years. The Titanic was supposed to leave the Harland and Wolff Dockyards, Belfast, the famous home of Titanic on 30 May. After years out of service the […]

Thames Water, the struggling water company, is fighting for its survival and has been told that it may not be able to raise new debts as soon as next week. According to the accounts of its holding company, the debt-ridden company faces a temporary state takeover if it fails. It has until 7th October to […]

Epic Games, a video game developer that makes Fortnite, accused Alphabet and Google, as well as Samsung – the largest Android phone maker in the world – of conspiring together to protect Google Play Store from competition. Epic filed a suit in a US federal court in California, alleging that Samsung’s mobile security feature Auto […]